Pfizer (PFE) 10-K 27 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 20, 2025	Jun. 30, 2024
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-3619
Entity Registrant Name	PFIZER INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-5315170
Entity Address, Address Line One	66 Hudson Boulevard East
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001-2192
City Area Code	212
Local Phone Number	733-2323
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 158
Entity Common Stock, Shares Outstanding		5,667,340,414
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement for the 2025 Annual Meeting of Shareholders Part III
Entity Central Index Key	0000078003
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.05 par value
Trading Symbol	PFE
Security Exchange Name	NYSE
Notes Due 2027, 1.000% [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.000% Notes due 2027
Trading Symbol	PFE27
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor name	KPMG LLP
Auditor location	New York, NY
Auditor firm ID	185

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Alliance revenues		$ 8,388	$ 7,582	$ 8,537
Total revenues		63,627	59,553	101,175
Costs and expenses:
Cost of sales	[1],[2]	17,851	24,954	34,344
Selling, informational and administrative expenses	[1]	14,730	14,771	13,677
Research and development expenses	[1]	10,822	10,679	11,428
Acquired in-process research and development expenses		108	194	953
Amortization of intangible assets		5,286	4,733	3,609
Restructuring charges and certain acquisition-related costs		2,419	2,943	1,375
Other (income)/deductions––net		4,388	222	1,062
Income from continuing operations before provision/(benefit) for taxes on income	[3],[4],[5]	8,023	1,058	34,729
Provision/(benefit) for taxes on income		(28)	(1,115)	3,328
Income from continuing operations		8,051	2,172	31,401
Discontinued operations––net of tax		11	(15)	6
Net income before allocation to noncontrolling interests		8,062	2,158	31,407
Less: Net income attributable to noncontrolling interests		31	39	35
Net income attributable to Pfizer Inc. common shareholders		$ 8,031	$ 2,119	$ 31,372
Earnings per common share––basic:
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share)		$ 1.42	$ 0.38	$ 5.59
Discontinued operations––net of tax (in dollars per share)		0	0	0
Net income attributable to Pfizer Inc. common shareholders (in dollars per share)		1.42	0.38	5.59
Earnings per common share––diluted:
Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share)		1.41	0.37	5.47
Discontinued operations––net of tax (in dollars per share)		0	0	0
Net income attributable to Pfizer Inc. common shareholders (in dollars per share)		$ 1.41	$ 0.37	$ 5.47
Weighted-average shares––basic (in shares)		5,664	5,643	5,608
Weighted-average shares––diluted (in shares)		5,700	5,709	5,733
Product [Member]
Revenues		$ 53,816	$ 50,914	$ 91,793
Royalty [Member]
Revenues	[6]	$ 1,423	$ 1,058	$ 845
[1] Exclusive of amortization of intangible assets. See Note 17A . Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss). As described above, in connection with the organizational changes effective in the first quarter of 2024, overhead costs associated with our manufacturing operations and costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations as they operated in 2024 are included in Biopharma’s earnings. We have reclassified $14.7 billion and $9.2 billion of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. 2023 v. 2022 –– The domestic loss in 2023 versus domestic income in 2022 and the decrease in international income in 2023 was primarily attributable to lower revenues, higher intangible asset impairment charges, and increases in Restructuring charges and certain acquisition-related costs , Amortization of intangible assets , and Selling, informational and administrative expenses , partially offset by a decrease in Cost of sales and net gains on equity securities in 2023 versus net losses on equity securities in 2022 . 2024 v. 2023 –– The reduction in the domestic loss in 2024 versus the domestic loss in 2023 is primarily attributable to increased revenues offset by higher restructuring charges and asset impairment charges. The increase in the international income is primarily attributable to lower: Cost of Sales , Restructuring charges and certain acquisition-related costs and asset impairment charges. See Note 1A .

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income before allocation to noncontrolling interests		$ 8,062	$ 2,158	$ 31,407
Foreign currency translation adjustments, net		32	452	(2,328)
Unrealized holding gains/(losses) on derivative financial instruments, net		499	626	1,444
Reclassification adjustments for (gains)/losses included in net income	[1]	(159)	(413)	(2,062)
Other comprehensive income (loss), derivatives qualifying as hedges, before tax, total		341	213	(618)
Unrealized holding gains/(losses) on available-for-sale securities, net		(152)	(121)	(1,306)
Reclassification adjustments for (gains)/losses included in net income	[2]	42	(141)	1,809
Other comprehensive income (loss), available-for-sale securities adjustment, before tax, total		(111)	(261)	502
Benefit plans: prior service (costs)/credits and other, net		193	(25)	(24)
Reclassification adjustments related to amortization of prior service costs and other, net		(109)	(117)	(129)
Reclassification adjustments related to curtailments of prior service costs and other, net		0	(15)	(12)
Other comprehensive income (loss), benefit plans, prior service (costs)/credits, before tax, total		84	(157)	(166)
Other comprehensive income/(loss), before tax		347	246	(2,609)
Tax provision/(benefit) on other comprehensive income/(loss)		231	(85)	(187)
Other comprehensive income/(loss) before allocation to noncontrolling interests		116	331	(2,422)
Comprehensive income/(loss) before allocation to noncontrolling interests		8,178	2,488	28,985
Less: Comprehensive income/(loss) attributable to noncontrolling interests		28	26	20
Comprehensive income/(loss) attributable to Pfizer Inc.		$ 8,149	$ 2,462	$ 28,965
[1] Reclassified into Other (income)/deductions—net and Cost of sales . See Note 7E . Reclassified into Other (income)/deductions—net .

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents		$ 1,043	$ 2,853
Short-term investments		19,434	9,837
Trade accounts receivable, net of allowance for doubtful accounts: 2024—$438; 2023—$470		11,463	11,566
Inventories	[1]	10,851	10,189
Current tax assets		3,314	3,978
Other current assets		4,253	4,911
Total current assets		50,358	43,333
Equity-method investments	[2]	217	11,637
Long-term investments		2,010	3,731
Property, plant and equipment, net		18,393	18,940
Identifiable intangible assets, net	[3]	55,411	64,900
Goodwill		68,527	67,783	[4]
Noncurrent deferred tax assets and other noncurrent tax assets		8,662	3,706
Other noncurrent assets		9,817	12,471
Total assets		213,396	226,501
Liabilities and Equity
Short-term borrowings, including current portion of long-term debt: 2024—$3,747; 2023—$2,254		6,946	10,350
Trade accounts payable		5,633	6,710
Dividends payable		2,437	2,372
Income taxes payable		2,910	2,349
Accrued compensation and related items		3,838	2,776
Deferred revenues		1,511	2,700
Other current liabilities		19,720	20,537
Total current liabilities		42,995	47,794
Long-term debt		57,405	61,538
Pension and postretirement benefit obligations		2,115	2,167
Noncurrent deferred tax liabilities		2,122	640
Other taxes payable		6,112	8,534
Other noncurrent liabilities		14,150	16,539
Total liabilities		124,899	137,213
Commitments and Contingencies
Common stock, $0.05 par value; 12,000 shares authorized; issued: 2024—9,593; 2023—9,562		480	478
Additional paid-in capital		93,603	92,631
Treasury stock, shares at cost: 2024—3,926; 2023—3,916		(114,763)	(114,487)
Retained earnings		116,725	118,353
Accumulated other comprehensive loss		(7,842)	(7,961)
Total Pfizer Inc. shareholders’ equity		88,203	89,014
Equity attributable to noncontrolling interests		294	274
Total equity		88,497	89,288
Total liabilities and equity		$ 213,396	$ 226,501
[1] The increase from December 31, 2023 reflects higher inventory levels for certain products mainly due to changes in net market demand, network strategy and new product launches. As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt. The decrease is primarily due to amortization expense of $5.3 billion, impairments of $3.3 billion (see Note 4 ) and measurement period adjustments related to our acquisition of Seagen of $950 million (see Note 2A ). As a result of the organizational changes to the commercial structure within the Biopharma operating segment effective in the first quarter of 2024 (see Note 17A ), our goodwill was required to be reallocated amongst impacted reporting units. The allocation of goodwill is a complex process that requires, among other things, that we determine the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. We completed the re-allocation during the fourth quarter of 2024 and concluded that none of our goodwill was impaired. All goodwill continues to be assigned within the Biopharma reportable segment.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 438	$ 470
Current portion of long-term debt	$ 3,747	$ 2,254
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05
Common stock, shares authorized (in shares)	12,000,000,000	12,000,000,000
Common stock, shares, issued (in shares)	9,593,000,000	9,562,000,000
Treasury stock (in shares)	3,926,000,000	3,916,000,000

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Shareholders’ Equity [Member]	Common Stock [Member]	Add’l Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accum. Other Comp. Loss [Member]		Non-controlling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, treasury (in shares)					(3,851)
Beginning balance, common (in shares) at Dec. 31, 2021			9,471
Beginning balance at Dec. 31, 2021	$ 77,462	$ 77,201	$ 473	$ 90,591	$ (111,361)	$ 103,394	$ (5,897)		$ 262
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,407	31,372				31,372			35
Other comprehensive income/(loss), net of tax	(2,422)	(2,407)					(2,407)	[1]	(15)
Cash dividends declared:
Common stock	(9,037)	(9,037)				(9,037)
Noncontrolling interests	(13)								(13)
Share-based payment transactions (in shares)			48		(13)
Share-based payment transactions	513	513	$ 2	1,192	$ (608)	(73)
Purchases of common stock (in shares)					(39)
Purchases of common stock	(2,000)	(2,000)			$ (2,000)
Other	6	19		19	$ 0	0			(13)
Ending balance, common (in shares) at Dec. 31, 2022			9,519
Ending balance, treasury (in shares) at Dec. 31, 2022					(3,903)
Ending balance at Dec. 31, 2022	95,916	95,661	$ 476	91,802	$ (113,969)	125,656	(8,304)		256
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, treasury (in shares)					(3,903)
Net income	2,158	2,119				2,119			39
Other comprehensive income/(loss), net of tax	331	343					343	[1]	(12)
Cash dividends declared:
Common stock	(9,316)	(9,316)				(9,316)
Noncontrolling interests	(8)								(8)
Share-based payment transactions (in shares)			43		(12)
Share-based payment transactions	208	208	$ 2	829	$ (518)	(106)
Other	$ 0	0		0		0			0
Ending balance, common (in shares) at Dec. 31, 2023	9,562		9,562
Ending balance, treasury (in shares) at Dec. 31, 2023	(3,916)				(3,916)
Ending balance at Dec. 31, 2023	$ 89,288	89,014	$ 478	92,631	$ (114,487)	118,353	(7,961)		274
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, treasury (in shares)	(3,916)				(3,916)
Net income	$ 8,062	8,031				8,031			31
Other comprehensive income/(loss), net of tax	116	118					118	[1]	(3)
Cash dividends declared:
Common stock	(9,577)	(9,577)				(9,577)
Noncontrolling interests	(7)								(7)
Share-based payment transactions (in shares)			31		(10)
Share-based payment transactions	591	591	$ 2	972	$ (276)	(107)
Other	$ 23	25		0		25			(1)
Ending balance, common (in shares) at Dec. 31, 2024	9,593		9,593
Ending balance, treasury (in shares) at Dec. 31, 2024	(3,926)				(3,926)
Ending balance at Dec. 31, 2024	$ 88,497	$ 88,203	$ 480	$ 93,603	$ (114,763)	$ 116,725	$ (7,842)		$ 294
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, treasury (in shares)	(3,926)				(3,926)
[1] Foreign currency translation adjustments include net gains/(losses) related to the impact of our net investment hedging program and gains/(losses) related to our investment in Haleon (see Note 2C ).

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (in dollars per share)	$ 1.69	$ 1.65	$ 1.61

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net income before allocation to noncontrolling interests		$ 8,062	$ 2,158	$ 31,407
Discontinued operations––net of tax		11	(15)	6
Net income from continuing operations before allocation to noncontrolling interests		8,051	2,172	31,401
Adjustments to reconcile net income from continuing operations before allocation to noncontrolling interests to net cash provided by/(used in) operating activities:
Depreciation and amortization	[1]	7,013	6,290	5,064
Asset write-offs and impairments		4,242	3,408	550
Deferred taxes		(2,102)	(3,442)	(3,764)
Share-based compensation expense		877	525	872
Benefit plan contributions in excess of expense/income		(12)	(787)	(1,158)
Inventory write-offs and related charges associated with COVID-19 products	[2]	0	6,199	1,183
Other adjustments, net		(2,260)	(3,492)	758
Other changes in assets and liabilities, net of acquisitions and divestitures:
Trade accounts receivable		(109)	347	261
Inventories	[2]	(854)	(1,169)	(591)
Other assets		3,380	(663)	(4,506)
Trade accounts payable		(1,023)	(300)	1,191
Other liabilities	[3]	(3,115)	595	(1,449)
Other tax accounts, net		(1,345)	(982)	(545)
Net cash provided by/(used in) operating activities		12,744	8,700	29,267
Investing Activities
Purchases of property, plant and equipment		(2,909)	(3,907)	(3,236)
Purchases of short-term investments		(10,133)	(30,974)	(36,384)
Proceeds from redemptions/sales of short-term investments		4,128	39,264	44,821
Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less		3,136	5,174	(483)
Purchases of long-term investments		(180)	(204)	(1,913)
Proceeds from redemptions/sales of long-term investments		1,570	1,979	641
Proceeds from partial sales of investment in Haleon	[4]	7,040	0	0
Acquisitions of businesses, net of cash acquired		0	(43,430)	(22,997)
Dividend received from the Consumer Healthcare JV	[4]	0	0	3,960
Other investing activities, net		2	(179)	(192)
Net cash provided by/(used in) investing activities		2,652	(32,278)	(15,783)
Financing Activities
Proceeds from short-term borrowings		8,907	4,525	3,891
Payments on short-term borrowings		(11,226)	(3)	(3,887)
Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less		(2,590)	3,161	(222)
Proceeds from issuance of long-term debt		0	30,831	0
Payments on long-term debt		(2,250)	(2,569)	(3,298)
Purchases of common stock		0	0	(2,000)
Cash dividends paid		(9,512)	(9,247)	(8,983)
Other financing activities, net		(469)	(631)	(335)
Net cash provided by/(used in) financing activities		(17,140)	26,066	(14,834)
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents		(66)	(40)	(165)
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents		(1,810)	2,448	(1,515)
Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period		2,917	468	1,983
Cash and cash equivalents and restricted cash and cash equivalents, at end of period		1,107	2,917	468
Cash paid/(received) during the period for:
Income taxes		3,605	3,147	7,867
Interest paid		3,227	2,215	1,442
Interest rate hedges		178	134	54
Non-cash transaction:
Right-of-use assets obtained in exchange for lease liabilities		$ 283	$ 614	$ 752
[1] Certain production facilities are shared. Depreciation is allocated based on estimates of physical production. As described above, in connection with the organizational changes effective in the first quarter of 2024, we have reclassified $331 million and $294 million of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. See Note 17A . See Note 17C . See Note 2C .

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies A. Basis of Presentation The consolidated financial statements include the accounts of our parent company and all subsidiaries and are prepared in accordance with U.S. GAAP. The decision of whether or not to consolidate an entity for financial reporting purposes requires consideration of majority voting interests, as well as effective economic or other control over the entity. Typically, we do not seek control by means other than voting interests. For subsidiaries operating outside the U.S., the financial information is included as of and for the year ended November 30 for each year presented. Pfizer's fiscal year-end for U.S. subsidiaries is as of and for the year ended December 31 for each year presented. All significant transactions among our subsidiaries have been eliminated. We manage our commercial operations through three operating segments, each led by a single manager: Biopharma, PC1 and Pfizer Ignite. Biopharma is the only reportable segment. See Note 17A . On December 14, 2023, we completed the acquisition of Seagen. In addition, other acquisitions and business development activities completed in 2024, 2023 and 2022 impacted financial results in the periods presented. See Note 2 . We have made certain reclassification adjustments to conform prior-period amounts to the current presentation for: • in the first quarter of 2024, we reclassified royalty income (substantially all of which is related to Biopharma) from Other (income)/deductions––net and began presenting Royalty revenues as a separate line item within Total revenues in our consolidated statements of operations, and reclassified the associated royalty receivables from Other current assets to Trade accounts receivable, less allowance for doubtful accounts in our consolidated balance sheet; and • segment reporting and geographic information in connection with the commercial reorganization that went into effect on January 1, 2024 (see Notes 9 and 1 7 ). Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts. B . New Accounting Standards Adopted in 2024 On January 1, 2024, we adopted a new accounting standard which clarifies that contractual sale restrictions are not considered in measuring equity securities at fair value. The new guidance is consistent with our existing policy; therefore, it had no impact on our consolidated financial statements. In the fourth quarter of 2024, we adopted a new accounting standard which requires the disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, other segment items by reportable segment and a description of its composition. See Note 17A . C. Estimates and Assumptions In preparing these financial statements, we use certain estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions can impact all elements of our financial statements. For example, in the consolidated statements of operations, estimates are used when accounting for deductions from revenues, determining the cost of inventory that is sold, allocating cost in the form of depreciation and amortization, and estimating restructuring charges and the impact of contingencies, as well as determining provisions for taxes on income. On the consolidated balance sheets, estimates are used in determining the valuation and recoverability of assets, and in determining the reported amounts of liabilities, all of which also impact the consolidated statements of operations. Certain estimates of fair value and amounts recorded in connection with acquisitions, revenue deductions, impairment reviews, restructuring-associated charges, investments and financial instruments, valuation allowances, pension and postretirement benefit plans, contingencies, share-based compensation, and other calculations can result from a complex series of judgments about future events and uncertainties and can rely heavily on estimates and assumptions. Our estimates are often based on complex judgments and assumptions that we believe to be reasonable, but that can be inherently uncertain and unpredictable. If our estimates and assumptions are not representative of actual outcomes, our results could be materially impacted. As future events and their effects cannot be determined with precision, our estimates and assumptions may prove to be incomplete or inaccurate, or unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. We are subject to risks and uncertainties that may cause actual results to differ from estimated amounts, such as changes in the healthcare environment, competition, litigation, legislation, development of competing assets by us or others, regulatory actions, or product recalls or withdrawals. We regularly evaluate our estimates and assumptions using historical experience and expectations about the future. We adjust our estimates and assumptions when facts and circumstances indicate the need for change. D. Acquisitions Our consolidated financial statements include the operations of acquired businesses after the completion of the acquisitions. We account for acquired businesses using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date and that the fair value of acquired IPR&D be recorded on the balance sheet. Transaction costs are expensed as incurred. Any excess of the consideration transferred over the assigned values of the net assets acquired is recorded as goodwill. When we acquire net assets that do not constitute a business, as defined in U.S. GAAP, no goodwill is recognized and acquired IPR&D is expensed in Acquired in-process research and development expenses . Contingent consideration in a business combination is included as part of the acquisition cost and is recognized at fair value as of the acquisition date. Fair value is generally estimated by using a probability-weighted discounted cash flow approach. See Note 16D . Any liability resulting from contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. These changes in fair value are recognized in earnings in Other (income)/deductions––net . E. Fair Value We measure certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. We estimate fair value using an exit price approach, which requires, among other things, that we determine the price that would be received to sell an asset or paid to transfer a liability in an orderly market. The determination of an exit price is considered from the perspective of market participants, considering the highest and best use of non-financial assets and, for liabilities, assuming that the risk of non-performance will be the same before and after the transfer. When estimating fair value, depending on the nature and complexity of the asset or liability, we may use one or all of the following techniques: • Income approach, which is based on the present value of a future stream of net cash flows. • Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities. • Cost approach, which is based on the cost to acquire or construct comparable assets, less an allowance for functional and/or economic obsolescence. Our fair value methodologies depend on the following types of inputs: • Quoted prices for identical assets or liabilities in active markets (Level 1 inputs). • Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are directly or indirectly observable, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means (Level 2 inputs). • Unobservable inputs that reflect estimates and assumptions (Level 3 inputs). The following inputs and valuation techniques are used to estimate the fair value of our financial assets and liabilities: • Available-for-sale debt securities—third-party matrix-pricing model that uses significant inputs derived from or corroborated by observable market data and credit-adjusted yield curves. • Equity securities with readily determinable fair values—quoted market prices and observable NAV prices. • Derivative assets and liabilities—third-party matrix-pricing model that uses inputs derived from or corroborated by observable market data. Where applicable, these models use market-based observable inputs, including interest rate yield curves to discount future cash flow amounts, and forward and spot prices for currencies. The credit risk impact to our derivative financial instruments was not significant. • Money market funds—observable NAV prices. We periodically review the methodologies, inputs and outputs of third-party pricing services for reasonableness. Our procedures can include, for example, referencing other third-party pricing models, monitoring key observable inputs (like benchmark interest rates) and selectively performing test-comparisons of values with actual sales of financial instruments. F. Foreign Currency Translation For most of our international operations, local currencies have been determined to be the functional currencies. We translate functional currency assets and liabilities to their U.S. dollar equivalents at exchange rates in effect as of the balance sheet date and income and expense amounts at average exchange rates for the period. The U.S. dollar effects that arise from changing translation rates are recorded in Other comprehensive income/(loss) . The effects of converting non-functional currency monetary assets and liabilities into the functional currency are recorded in Other (income)/deductions––net . For operations in highly inflationary economies, we translate monetary items at rates in effect as of the balance sheet date, with translation adjustments recorded in Other (income)/deductions––net , and we translate non-monetary items at historical rates. G. Revenues and Trade Accounts Receivable Revenue Recognition ––We record revenues from product sales when there is a transfer of control of the product from us to the customer. We typically determine transfer of control based on when the product is shipped or delivered and title passes to the customer. For certain contracts, the finished product may temporarily be stored at our or our third-party subcontractors’ locations under a bill-and-hold arrangement. Revenue is recognized on bill-and-hold arrangements at the point in time when the customer obtains control of the product and all of the following criteria have been met: the arrangement is substantive; the product is identified separately as belonging to the customer; the product is ready for physical transfer to the customer; and we do not have the ability to use the product or direct it to another customer. In bill-and-hold arrangements which are part of the U.S. SNS, we recognize revenue for the product sale when the product is initially placed into the U.S. SNS and we provide a rotation service to maintain an agreed upon level of shelf life for product in the stockpile. In determining when the customer obtains control of the product, we consider certain indicators, including whether we have a present right to payment from the customer, whether title and/or significant risks and rewards of ownership have transferred to the customer and whether customer acceptance has been received. Our Sales Contracts ––Sales on credit are typically under short-term contracts. Collections are based on market payment cycles common in various markets, with shorter cycles in the U.S. Sales are adjusted for sales allowances, chargebacks, rebates and sales returns and cash discounts. Sales returns may occur due to patent-based expirations or loss of regulatory exclusivity, product recalls or a changing competitive environment. Deductions from Revenues ––Our gross product revenues are subject to a variety of deductions, which generally are estimated and recorded in the same period that the revenues are recognized. Such variable consideration represents chargebacks, rebates, sales allowances and sales returns. These deductions represent estimates of the related obligations and, as such, knowledge and judgment is required when estimating the impact of these product revenue deductions on gross sales for a reporting period. Provisions for pharmaceutical sales returns–– Provisions are based on a calculation for each market that incorporates the following, as appropriate: local returns policies and practices; historical returns as a percentage of sales; an understanding of the reasons for past returns; estimated shelf life by product; an estimate of the amount of time between shipment and return or lag time; and any other factors that could impact the estimate of future returns, such as patent-based expirations or loss of regulatory exclusivity, product recalls or a changing competitive environment. Generally, returned products are destroyed, and customers are refunded the sales price in the form of a credit. We record sales incentives as a reduction of revenues at the time the related revenues are recorded or when the incentive is offered, whichever is later. We estimate the cost of our sales incentives based on our historical experience with similar incentives programs to predict customer behavior. The following outlines our common sales arrangements: • Customers ––Our prescription biopharmaceutical products, with the exception of Paxlovid in 2022 and 2023, are sold principally to wholesalers, but we also sell directly to retailers, hospitals, clinics, government agencies and pharmacies. In 2022 and 2023, we principally sold Paxlovid globally to government agencies. Our vaccines in the U.S. are primarily sold directly to the federal government (including the CDC), wholesalers, individual provider offices, retail pharmacies and integrated delivery systems. Our vaccines outside the U.S. are primarily sold to government and non-government institutions. Certain products in our portfolio are subject to seasonality of demand and Paxlovid revenues trend with infection rates. Prescription pharmaceutical products that ultimately are used by patients are generally covered under governmental programs, managed care programs and insurance programs, including those managed through PBMs in the U.S; and are subject to sales allowances and/or rebates payable directly to those programs. Those sales allowances and rebates are generally negotiated, but government programs may have legislated amounts by type of product (e.g., patented or unpatented). Specifically: • In the U.S., we sell our products principally to distributors and hospitals. We also have contracts with managed care programs or PBMs and legislatively mandated contracts with the federal and state governments under which we provide rebates based on medicines utilized by the lives they cover. We record provisions for Medicare, Medicaid, and performance-based contract pharmaceutical rebates based upon our experience ratio of rebates paid and actual prescriptions written during prior periods. We apply the experience ratio to the respective period’s sales to determine the rebate accrual and related expense. This experience ratio is evaluated regularly to ensure that the historical trends are as current as practicable. We estimate discounts on branded prescription drug sales in prior periods to Medicare Part D participants in the Medicare “coverage gap,” also known as the “doughnut hole,” and as of December 31, 2024 in the initial coverage and catastrophic phases under the Manufacturer Discount Program based on the historical experience of beneficiary prescriptions and consideration of the utilization that is expected to result from the discount in the coverage gap or from the manufacturer’s discount, respectively. We evaluate this estimate regularly to ensure that the historical trends and future expectations are as current as practicable. For performance-based contract rebates, we also consider current contract terms, such as changes in formulary status and rebate rates. • Outside the U.S., the majority of our pharmaceutical sales allowances are contractual or legislatively mandated and our estimates are based on actual invoiced sales within each period, which reduces the risk of variations in the estimation process. In certain European countries, rebates are calculated on the government’s total unbudgeted pharmaceutical spending or on specific product sales thresholds and we apply an estimated allocation factor against our actual invoiced sales to project the expected level of reimbursement. We obtain third-party information that helps us to monitor the adequacy of these accruals. • Provisions for pharmaceutical chargebacks (primarily reimbursements to U.S. wholesalers for honoring contracted prices and legislated discounts to third parties) closely approximate actual amounts incurred, as we settle these deductions generally within two to five weeks of incurring the liability. We recorded revenues of more than $1 billion for each of 11 products in 2024, for each of nine products in 2023 and for each of ten products in 2022, and these revenues represented 66%, 64% and 82% of our Total revenues in 2024, 2023 and 2022, respectively. See Note 17C . The loss or expiration of intellectual property rights can have a significant adverse effect on our revenues as our contracts with customers will generally be at lower selling prices and lower volumes due to added generic competition. We generally provide for higher sales returns during the period in which individual markets begin to near the loss or expiration of intellectual property rights. Our accruals for Medicare, Medicaid and related state program and performance-based contract rebates, chargebacks, sales allowances and sales returns and cash discounts are as follows: As of December 31, (MILLIONS) 2024 2023 Reserve against Trade accounts receivable, less allowance for doubtful accounts $ 1,627 $ 1,770 Other current liabilities : Accrued rebates 7,195 5,546 Other accruals 972 902 Other noncurrent liabilities 1,029 796 Total accrued rebates and other sales-related accruals $ 10,822 $ 9,014 Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from Product revenues . Trade Accounts Receivable —Trade accounts receivable are stated at their net realizable value. The allowance for credit losses reflects our best estimate of expected credit losses of the receivables portfolio determined on the basis of historical experience, current information, and forecasts of future economic conditions. In developing the estimate for expected credit losses, trade accounts receivables are segmented into pools of assets depending on market (U.S. versus international), delinquency status, and customer type (high risk versus low risk and government versus non-government), and fixed reserve percentages are established for each pool of trade accounts receivables. In determining the reserve percentages for each pool of trade accounts receivables, we considered our historical experience with certain customers and customer types, regulatory and legal environments, country and political risk, and other relevant current and future forecasted macroeconomic factors. These credit risk indicators are monitored on a quarterly basis to determine whether there have been any changes in the economic environment that would indicate the established reserve percentages should be adjusted, and are considered on a regional basis to reflect more geographic-specific metrics. Additionally, write-offs and recoveries of customer receivables are tracked against collections on a quarterly basis to determine whether the reserve percentages remain appropriate. When management becomes aware of certain customer-specific factors that impact credit risk, specific allowances for these known troubled accounts are recorded. Trade accounts receivable are written off after all reasonable means to collect the full amount (including litigation, where appropriate) have been exhausted. During 2024 and 2023, additions to the allowance for credit losses, write-offs and recoveries of customer receivables were not material to our consolidated financial statements. H. Collaborative Arrangements Payments to and from our collaboration partners are presented in our consolidated statements of operations based on the nature of the arrangement (including its contractual terms), the nature of the payments and applicable accounting guidance. Under co-commercialization agreements, we record the amounts received for our share of gross profits from our collaboration partners as Alliance revenues, when our collaboration partners are the principal in the transaction and we receive a share of their net sales or profits. Alliance revenues are recorded as we perform co-promotion activities for the collaboration and the collaboration partners sell the products to their customers. The related expenses for selling and marketing these products including reimbursements to or from our collaboration partners for these costs are included in Selling, informational and administrative expenses. In collaborative arrangements where we manufacture a product for our collaboration partners, we record revenues when we transfer control of the product to our collaboration partners. In collaboration arrangements where we are the principal in the transaction, we record amounts paid to collaboration partners for their share of net sales or profits earned, and all royalty payments to collaboration partners as Cost of sales . Royalty payments received from collaboration partners are included in Royalty revenues. Reimbursements to or from our collaboration partners for development costs are typically recorded in Research and development expenses . Upfront payments and pre-approval milestone payments due from us to our collaboration partners in development stage collaborations are recorded as Acquired in-process r esearch and development expenses . Milestone payments due from us to our collaboration partners after regulatory approval has been attained for a medicine are recorded in Identifiable intangible assets —developed technology rights. Upfront and pre-approval milestone payments earned from our collaboration partners by us are recognized in Other (income)/deductions—net over the development period for the products, when our performance obligations include providing R&D services to our collaboration partners. Upfront, pre-approval and post-approval milestone payments earned by us may be recognized in Other (income)/deductions—net immediately when earned or over other periods depending upon the nature of our performance obligations in the applicable collaboration. Where the milestone event is regulatory approval for a medicine, we generally recognize milestone payments due to us in the transaction price when regulatory approval in the applicable jurisdiction has been attained. We may recognize milestone payments due to us in the transaction price earlier than the milestone event in certain circumstances when recognition of the income would not be probable of a significant reversal. I. Cost of Sales and Inventories Inventories are recorded at the lower of cost or net realizable value. The cost of finished goods, work in process and raw materials is determined using average actual cost. We regularly review our inventories for impairment and reserves are established when necessary. Inventories that are not expected to be sold within 12 months are classified as Other noncurrent assets . See Note 8A . J. Selling, Informational and Administrative Expenses Selling, informational and administrative costs are expensed as incurred. Among other things, these expenses include the internal and external costs of marketing, advertising, shipping and handling, digital and legal defense. Advertising expenses totaled approximately $3.3 billion in 2024, $3.7 billion in 2023 and $2.8 billion in 2022. Production costs are expensed as incurred and the costs of TV, radio, and other electronic media and publications are expensed when the related advertising occurs. K. Research and Development Expenses R&D costs are expensed as incurred. These expenses include the costs of our proprietary R&D efforts, as well as R&D activities performed in connection with certain licensing arrangements. L. Acquired In-Process Research and Development Expenses Before a compound receives regulatory approval, we record upfront and milestone payments we make to third parties under licensing and collaboration arrangements as expense. Upfront payments are recorded when incurred, and milestone payments are recorded when the specific milestone has been achieved. Once a compound receives regulatory approval, we record any milestone payments in Identifiable intangible assets, less accumulated amortization and, unless the asset is determined to have an indefinite life, we typically amortize the payments on a straight-line basis over the remaining agreement term or the expected product life cycle, whichever is shorter. Acquired in-process research and development expenses includes costs incurred in connection with (a) all upfront and milestone payments on collaboration and in-license agreements, including premiums on equity securities and (b) asset acquisitions of acquired IPR&D. M. Long-Lived Assets Long-lived assets include: • Property, plant and equipment, net —These assets are recorded at cost, including any significant improvements after purchase, less accumulated depreciation. Property, plant and equipment assets, other than land and construction in progress, are depreciated on a straight-line basis over the estimated useful life of the individual assets. Depreciation begins when the asset is ready for its intended use. For tax purposes, accelerated depreciation methods are used as allowed by tax laws. • Identifiable intangible assets, net —These assets are recorded at fair value at acquisition. Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. Intangible assets with indefinite lives are not amortized until a useful life can be determined. • Goodwill —Goodwill represents the excess of the consideration transferred for an acquired business over the assigned values of its net assets. Goodwill is not amortized. Amortization of finite-lived acquired intangible assets is included in Amortization of intangible assets. We review our long-lived assets for impairment indicators throughout the year. We perform impairment testing for indefinite-lived intangible assets and goodwill at least annually and for all other long-lived assets whenever impairment indicators are present. When necessary, we record impairments of long-lived assets for the amount by which the fair value is less than the carrying value of these assets. Specifically: • For finite-lived intangible assets, such as developed technology rights, and for other long-lived assets, such as property, plant and equipment, whenever impairment indicators are present, we calculate the undiscounted value of the projected cash flows for the asset, or asset group, and compare this estimated amount to the carrying amount. If the carrying amount is greater, we record an impairment loss for the excess of book value over fair value. In addition, we reevaluate the remaining useful lives of the assets and modify them, as appropriate. • For indefinite-lived intangible assets, such as brands and IPR&D assets, when necessary, we determine the fair value of the asset and record an impairment loss, if any, for the excess of book value over fair value. In addition, in all cases of an impairment review other than for IPR&D assets, we re-evaluate whether continuing to characterize the asset as indefinite-lived is appropriate. • For goodwill, when necessary, we determine the fair value of each reporting unit and record an impairment loss, if any, for the excess of the book value of the reporting unit over the implied fair value. N. Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives We incur restructuring charges in connection with acquisitions when we implement plans to restructure and integrate the acquired operations or in connection with our cost-reduction and productivity initiatives. • In connection with acquisition activity, we typically incur costs associated with executing the transactions, integrating the acquired operations (which may include expenditures for consulting and the integration of systems and processes), and restructuring the combined company (which may include charges related to employees, assets and activities that will not continue in the combined company); and • In connection with our cost-reduction/productivity initiatives, we typically incur costs and charges for site closings and other facility rationalization actions, workforce reductions and the expansion of shared services, including the development of global systems. Included in Restructuring charges and certain acquisition-related costs are all restructuring charges, as well as certain other costs associated with acquiring and integrating an acquired company. If the restructuring action results in a change in the estimated useful life of an asset, that incremental impact is classified in Cost of sales, Selling, informational and administrative expenses and/or Research and development expenses , as appropriate. Employee termination costs are generally recorded when the actions are probable and estimable and include accrued severance benefits, pension and postretirement benefits, many of which may be paid out during periods after termination. Transaction costs, such as banking, legal, accounting and other similar costs incurred in connection with a business acquisition are expensed as incurred . Our business may be impacted by these actions, including sales and marketing, manufacturing and R&D, as well as our corporate enabling functions. O. Cash Equivalents and Statement of Cash Flows Cash equivalents include items almost as liquid as cash, such as certificates of deposit and time deposits with maturity periods of three months or less when purchased. If items meeting this definition are part of a larger investment pool, we classify them as Short-term investments . Cash flows for financial instruments designated as fair value or cash flow hedges may be included in operating, investing or financing activities, depending on the classification of the items being hedged. Cash flows for financial instruments designated as net investment hedges are classified according to the nature of the hedging instrument. Cash flows for financial instruments that do not qualify for hedge accounting treatment are classified according to their purpose and accounting nature. P. Investments and Derivative Financial Instruments The classification of an investment depends on the nature of the investment, our intent and ability to hold the investment, and the degree to which we may exercise influence. Our investments are primarily comprised of the following: • Public equity securities with readily determinable fair values, which are carried at fair value, with changes in fair value reported in Other (income)/deductions—net. • Available-for-sale debt securities, which are carried at fair value, with changes in fair value reported in Other comprehensive income/(loss) until realized. • Held-to-maturity debt securities, which are carried at amortized cost. • Private equity securities without readily determinable fair values and where we have no significant influence are measured at cost minus any impairment and plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. • For equity investments in common stock or in-substance common stock where we have significant influence over the financial and operating policies of the investee, we use the equity-method of accounting. Under the equity-method, we record our share of the investee’s income and expenses in Other (income)/deductions—net .

Acquisitions, Divestitures, Equ

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement	12 Months Ended
	Dec. 31, 2024
Business Combinations, Discontinued Operations And Disposal Groups, Collaborative Arrangements And Equity Method Investments [Abstract]
Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement	Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement A. Acquisitions Seagen–– On December 14, 2023 (the acquisition date), we acquired Seagen, a global biotechnology company that discovers, develops and commercializes transformative cancer medicines, for $229 per share in cash. The total fair value of the consideration transferred was $44.2 billion ($43.4 billion, net of cash acquired). In addition, in connection with the acquisition, $476 million in post-closing compensation expense for Seagen employee incentive awards was recorded in Restructuring charges and certain acquisition-related costs (see Note 3 ). Seagen’s principal business was the development, manufacture, marketing and distribution of targeted cancer therapeutics, primarily using ADC technology. Seagen’s portfolio includes four approved medicines as well as a pipeline of product candidates. Clinical development programs are ongoing for each of these approved medicines for potential new or expanded indications and for several product candidates. We believe our acquisition of Seagen will strengthen our oncology capabilities by allowing us to combine Seagen’s ADC technology with the resources and scale of the Pfizer enterprise and to advance more potential breakthroughs to patients with cancer. The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date, as well as adjustments made in 2024 to the amounts initially recorded in 2023 (measurement period adjustments) with a corresponding change to goodwill. The measurement period adjustments did not have a material impact on our earnings in any period. The final allocation of the consideration transferred to the assets acquired and the liabilities assumed has been completed. (MILLIONS) Amounts Recognized as of Acquisition Date (as previously reported as of December 31, 2023) Measurement Period Adjustments (a) Amounts Recognized as of Acquisition Date (as adjusted) Final Working capital, excluding inventories (b) $ 736 $ (115) $ 621 Inventories (c) 4,195 (922) 3,273 Property, plant and equipment 524 (243) 280 Identifiable intangible assets, excluding in-process research and development (d) 7,970 (50) 7,920 In-process research and development 20,800 (900) 19,900 Other noncurrent assets 174 (115) 59 Net income tax accounts (e) (6,123) 1,343 (4,779) Other noncurrent liabilities (167) (20) (187) Total identifiable net assets 28,108 (1,022) 27,086 Goodwill 16,126 1,022 17,148 Net assets acquired/total consideration transferred $ 44,234 $ — $ 44,234 (a) The changes in the estimated fair values are to better reflect market participant assumptions about facts and circumstances existing as of the acquisition date. The measurement period adjustments did not result from intervening events subsequent to the acquisition date. (b) Includes cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued compensation and other current liabilities. (c) As adjusted, comprised of $1.1 billion current inventories and $2.1 billion noncurrent inventories. (d) As adjusted, comprised mainly of $7.5 billion of finite-lived developed technology rights with an estimated weighted-average life of approximately 18 years. (e) As adjusted, included primarily in Noncurrent deferred tax liabilities. The measurement period adjustments primarily reflect the tax impact of the pre-tax measurement period adjustments. As of the acquisition date, the fair value of accounts receivable approximated the book value acquired. The gross contractual amount receivable was $597 million. In the ordinary course of business, Seagen may incur liabilities for environmental, legal and tax matters, as well as guarantees and indemnifications. These matters may include contingencies. Except as specifically excluded by the relevant accounting standard, contingencies are required to be measured at fair value as of the acquisition date if the acquisition-date fair value of the asset or liability arising from a contingency can be determined. If the acquisition-date fair value of the asset or liability cannot be determined, the asset or liability would be recognized at the acquisition date if both of the following criteria are met: (i) it is probable that an asset existed or that a liability had been incurred at the acquisition date, and (ii) the amount of the asset or liability can be reasonably estimated. • Environmental Matters —In the ordinary course of business, Seagen may incur liabilities for environmental matters such as remediation work, asset retirement obligations and environmental guarantees and indemnifications. • Legal Matters —Seagen is involved in various legal proceedings, including patent, intellectual property, and product liability matters of a nature considered normal to its business. The contingencies arising from legal matters are not significant to our consolidated financial statements. • Tax Matters —In the ordinary course of business, Seagen incurs liabilities for income taxes. Income taxes are exceptions to both the recognition and fair value measurement principles associated with the accounting for business combinations. Reserves for income tax contingencies continue to be measured under the benefit recognition model previously used by Seagen (see Note 1Q ). Net liabilities for income taxes as of the acquisition date were $4.8 billion, including $48 million for uncertain tax positions. The net tax liability includes $6.3 billion for the tax impact of fair value adjustments, partially offset by $1.5 billion for deferred tax assets on which Seagen had recognized a valuation allowance. Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Specifically, the goodwill recorded as part of the acquisition of Seagen includes the following: • the expected specific synergies and other benefits that we believe will result from combining the operations of Seagen with the operations of Pfizer; • any intangible assets that do not qualify for separate recognition, as well as future, as yet unidentified projects and products; and • the value of the going-concern element of Seagen’s existing businesses (the higher rate of return on the assembled collection of net assets versus if Pfizer had acquired all of the net assets separately). Goodwill is not amortized and is not deductible for tax purposes. All of the goodwill related to the acquisition of Seagen is related to our Biopharma segment (see Note 10 ). Actual and Pro Forma Impact of Acquisition —The following table presents information for Seagen’s operations that are included in Pfizer’s consolidated statements of operations beginning from the acquisition date, December 14, 2023, through Pfizer’s year-end in 2023: (MILLIONS) December 31, 2023 Revenues $ 132 Net loss attributable to Pfizer Inc. common shareholders (a) (746) (a) Includes restructuring, integration and acquisition-related costs ($614 million pre-tax) and purchase accounting charges related to (i) the fair value adjustment for acquisition-date inventory estimated to have been sold ($109 million pre-tax); (ii) amortization expense related to the fair value of identifiable intangible assets acquired from Seagen ($25 million pre-tax); as well as (iii) depreciation expense related to the fair value adjustment of fixed assets acquired from Seagen ($2 million pre-tax). The following table provides unaudited U.S. GAAP supplemental pro forma information as if the acquisition of Seagen had occurred on January 1, 2022: Unaudited Supplemental Pro Forma Consolidated Results Year Ended December 31, (MILLIONS, EXCEPT PER SHARE DATA) 2023 2022 Revenues $ 61,893 $ 103,137 Net income/(loss) attributable to Pfizer Inc. common shareholders (1,481) 27,870 Diluted earnings/(loss) per share attributable to Pfizer Inc. common shareholders (0.26) 4.86 The unaudited supplemental pro forma consolidated results do not purport to reflect what the combined company’s results of operations would have been had the acquisition occurred on January 1, 2022, nor do they project the future results of operations of the combined company or reflect the expected realization of any cost savings associated with the acquisition. The actual results of operations of the combined company may differ significantly from the pro forma information reflected here due to many factors. The unaudited supplemental pro forma financial information includes various assumptions, including those related to the purchase price allocation of the assets acquired and the liabilities assumed from Seagen. The historical U.S. GAAP financial information of Pfizer and Seagen was adjusted, primarily for the following pre-tax adjustments for the years ended December 31, 2023 and 2022: • Additional amortization expense of approximately $553 million and $576 million, respectively, related to the fair value of identifiable intangible assets acquired. • Additional expense related to the fair value adjustment to acquisition-date inventory estimated to have been sold of approximately $755 million and $934 million, respectively. • Additional estimated interest expense of approximately $984 million and $2.0 billion, respectively, related to the debt issued by Pfizer and the commercial paper borrowings to partially finance the acquisition. • Elimination of interest income of approximately $1.2 billion and $267 million, respectively, related to the debt issuance proceeds that were invested prior to the acquisition date and associated with money market funds under the assumption that a portion of these funds would have been liquidated to partially finance the acquisition. The above adjustments were then adjusted for the applicable tax impact using an estimated weighted-average statutory tax rate applied to the applicable pro forma adjustments. The acquisition of Seagen had no impact on Pfizer’s weighted-average shares as no shares were issued. GBT–– On October 5, 2022, we acquired GBT, a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments for underserved patient communities, starting with sickle cell disease, for $68.50 per share in cash. The total fair value of the consideration transferred was $5.7 billion ($5.2 billion, net of cash acquired). In addition, $136 million in payments to GBT employees for the fair value of previously unvested long-term incentive awards was recognized as post-closing compensation expense and recorded in Restructuring charges and certain acquisition-related costs (see Note 3 ). The final allocation of the consideration transferred to the assets acquired and the liabilities assumed was completed in 2023. In connection with this business combination, we recorded: (i) $4.4 billion in Identifiable intangible assets, net , consisting of $3.0 billion of IPR&D and $1.4 billion of developed technology rights with a useful life of six years, (ii) $1.1 billion of Goodwill, (iii) $644 million of inventories to be sold over approximately three years, (iv) $516 million of net deferred tax liabilities and (v) $331 million of assumed long-term debt that was paid in full in the fourth quarter of 2022. Biohaven–– On October 3, 2022, we acquired Biohaven, the maker of Nurtec ODT/Vydura (rimegepant), an innovative therapy approved for both acute treatment of migraine and prevention of episodic migraine in adults. The transaction included the acquisition of Biohaven’s CGRP programs, including rimegepant, zavegepant and a portfolio of five pre-clinical CGRP assets. Under the terms of the agreement, we acquired all outstanding common shares of Biohaven not already owned by us for $148.50 per share, in cash, for payments of approximately $11.5 billion, plus repayment of third-party debt of $863 million and redemption of Biohaven’s redeemable preferred stock for $495 million. Effective immediately prior to the closing of the acquisition, Biohaven completed the spin-off of Biohaven Ltd. (NYSE: BHVN), distributing Biohaven Ltd.’s shares to Biohaven shareholders. Biohaven Ltd. became a new publicly traded company that retained Biohaven’s non-CGRP development stage pipeline compounds. Pfizer, a Biohaven shareholder, received a pro rata portion of Biohaven Ltd.’s shares in the distribution. The total fair value of the consideration transferred was $11.8 billion, which includes the fair value of Pfizer’s previous investment in Biohaven on the acquisition date of approximately $300 million. The final allocation of the consideration transferred to the assets acquired and the liabilities assumed was completed in 2023. In connection with this business combination, we recorded: (i) $12.1 billion in Identifiable intangible assets , consisting of $11.6 billion of developed technology rights with a useful life of 11 years and $450 million of IPR&D, (ii) $823 million of Goodwill , (iii) $813 million of inventories to be sold over approximately two years, (iv) $398 million of trade accounts receivable, (v) $1.4 billion of assumed long-term debt that was paid in full in the fourth quarter of 2022, (vi) $544 million of net deferred tax liabilities and (vii) $526 million of Other current liabilities . Arena–– On March 11, 2022, we acquired Arena, a clinical stage company with development-stage therapeutic candidates in gastroenterology, dermatology and cardiology, for $100 per share in cash. The total fair value of the consideration transferred was $6.6 billion ($6.2 billion, net of cash acquired). In addition, $138 million in payments to Arena employees for the fair value of previously unvested long-term incentive awards was recognized as post-closing compensation expense and recorded in Restructuring charges and certain acquisition-related costs (see Note 3 ). The final allocation of the consideration transferred to the assets acquired and the liabilities assumed was completed in 2023. In connection with this business combination, we recorded: (i) $5.5 billion in Identifiable intangible assets , consisting of $5.0 billion of IPR&D and $460 million of indefinite-lived licensing agreements and other, (ii) $1.0 billion of Goodwill and (iii) $490 million of net deferred tax liabilities. ReViral–– On June 9, 2022, we acquired ReViral, a privately held, clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel antiviral therapeutics that target respiratory syncytial virus, for a total consideration of up to $536 million, including upfront payments of $436 million upon closing (including a base payment of $425 million plus working capital adjustments) and an additional $100 million contingent upon a future development milestone for a secondary pipeline asset. It was subsequently determined the applicable milestone was not achieved. We accounted for the transaction as an asset acquisition since the lead asset, sisunatovir, represented substantially all of the fair value of the gross assets acquired. At the acquisition date, we recorded a $426 million charge representing an acquired IPR&D asset with no alternative use in Acquired in-process research and development expenses , which is presented as a cash outflow from operating activities. Other assets acquired and liabilities assumed were not significant. Pro forma information for the aforementioned acquisitions (except for Seagen) has not been presented because these acquisitions were not material to our consolidated financial statements. Divestiture of Early-Stage Rare Disease Gene Therapy Portfolio– –On September 19, 2023, we completed an agreement with Alexion, under which Alexion purchased and licensed the assets of our early-stage rare disease gene therapy portfolio. Under the terms of the agreement, Alexion will pay us total consideration of up to $1 billion, consisting of an upfront payment of $300 million which was paid at closing and future contingent milestone payments, plus tiered royalties based on annual net sales of the assets. In connection with the closing of the transaction, Pfizer recognized a $222 million pre-tax gain in Other (income)/deductions––net (see Note 4 ). Upjohn Separation and Combination with Mylan–– In connection with the 2020 spin-off and the combination of the Upjohn Business with Mylan to form Viatris, Pfizer and Viatris entered into various agreements, including a separation and distribution agreement, interim operating models, including agency arrangements, MSAs, TSAs, a tax matters agreement, and an employee matters agreement, among others. The interim agency operating model arrangements primarily include billings, collections and remittance of rebates that we are performing on a transitional basis on behalf of Viatris. Under the MSAs, Pfizer or Viatris, as the case may be, manufactures, labels and packages products for the other party. The terms of the MSAs range in initial duration from four Net cash provided by/(used in) operating activities. Haleon–– Haleon, is an independent, publicly traded company listed on the London Stock Exchange that holds the joint historical consumer healthcare business of GSK and Pfizer. We owned 32% of Haleon as of December 31, 2023. In March 2024, we sold approximately 30% of our investment in Haleon through the sale of 791 million ordinary shares in a global public offering, and the sale of 102 million ordinary shares directly to Haleon, for $3.5 billion. In October 2024, we sold approximately 34% of our remaining investment in Haleon through the sale of 640 million ordinary shares in a global public offering, and the sale of 61 million ordinary shares directly to Haleon, for $3.5 billion. We recognized total gains on these sales of our Haleon shares of $945 million during 2024 in Other (income)/deductions––net (see Note 4 ). After the October 2024 share sale, we owned approximately 15% of the outstanding voting shares of Haleon as of December 31, 2024 . Through the third quarter of 2024, we accounted for our Haleon investment under the equity method and recorded our share of earnings from Haleon on a quarterly basis on a one-quarter lag in Other (income)/deductions––net . As Haleon is a foreign investee whose reporting currency is the U.K. pound, we translated its financial statements into U.S. dollars and recognized the impact of foreign currency translation adjustments in the carrying value of our investment and in other comprehensive income. With the reduction in our Haleon ownership percentage and board representation after the October 2024 sale, we no longer have the ability to exercise significant influence over the operating and financial policies of Haleon. As a result, we discontinued the application of the equity method to our Haleon investment, and began to account for the investment as an equity security with a readily determinable fair value, which is carried at fair value, with changes in fair value reported in Other (income)/deductions––net . See Note 4 . The following table summarizes the change in the carrying value of our investment in Haleon: Year Ended December 31, (MILLIONS) 2024 2023 Beginning carrying value reported in Equity-method investments $ 11,451 $ 10,824 Carrying value of shares sold (6,113) — Dividends (212) (153) Currency translation adjustments and other (a) 341 293 Basis difference adjustments and amortization (b), (c) (91) (2) Pfizer share of Haleon investee capital transaction (b), (d) (44) — Pfizer share of Haleon earnings (b) 224 489 Reclassification of accumulated other comprehensive income balances in Equity-method investments (e) (143) — Transfer of carrying value to Short-term investments (f) (5,411) — Ending carrying value $ — $ 11,451 (a) See Note 6 . (b) Included in Other (income)/deductions –– net . (c) Adjustments in 2024 include (i) the impact of Haleon’s brand divestitures and impairments of intangible assets and (ii) changes in Haleon’s tax rates on intangible asset-related deferred tax liabilities. (d) In 2024, includes (i) a decrease of $91 million recorded in the second quarter of 2024 for Pfizer’s share of an investee capital transaction recognized by Haleon for treasury stock Haleon purchased in the first quarter of 2024 and (ii) an increase of $46 million recorded in the third quarter of 2024 for the impact of the reduction in Pfizer’s ownership from approximately 32% to approximately 23% as applied to dividends with a record date in the first quarter of 2024, which were recognized in Haleon’s second quarter 2024 financial statements. (e) The 2024 activity primarily represent foreign currency translation balances in Accumulated other comprehensive income related to the equity-method investment in Haleon that were reclassified into Equity-method investments upon our loss of significant influence over Haleon and our discontinuance of the equity method for the Haleon investment. (f) The final carrying value of our equity-method investment in Haleon was reclassified to Short-term investments and is being accounted for as an equity investment with a readily determinable fair value. Summarized financial information for Haleon as of September 30, 2024, the most recent period available, and as of September 30, 2023 and for the periods ending September 30, 2024, 2023, and 2022 is as follows: (MILLIONS) September 30, 2024 September 30, 2023 Current assets $ 7,813 $ 5,876 Noncurrent assets 37,572 36,954 Total assets $ 45,385 $ 42,830 Current liabilities $ 7,468 $ 6,117 Noncurrent liabilities 15,511 15,744 Total liabilities $ 22,979 $ 21,862 Equity attributable to shareholders $ 22,129 $ 20,719 Equity attributable to noncontrolling interests 277 249 Total net equity $ 22,406 $ 20,968 For the Twelve Months Ended (MILLIONS) September 30, 2024 September 30, 2023 September 30, 2022 Net sales $ 14,252 $ 13,921 $ 13,566 Cost of sales (5,656) (5,580) (5,081) Gross profit $ 8,596 $ 8,341 $ 8,486 Income from continuing operations 1,668 1,606 1,745 Net income 1,668 1,606 1,745 Income attributable to shareholders 1,600 1,528 1,675 In connection with GSK’s previously announced planned demerger of at least 80% of GSK’s 68% equity interest in the Consumer Healthcare JV, in March 2022 the Consumer Healthcare JV completed its offering of a total aggregate principal amount of $8.75 billion in U.S. dollar-denominated senior notes of various maturities, €2.35 billion in euro-denominated senior notes of various maturities and £700 million in U.K. pound-denominated senior notes of various maturities (collectively, the “notes”). The notes were guaranteed by GSK generally up to and excluding the date of the demerger (the “Guarantee Assumption Date”). We agreed to indemnify GSK for 32% (representing our pro rata equity interest in the Consumer Healthcare JV at that time) of any amount payable by GSK pursuant to its guarantee of the notes. Our indemnity was provided solely for the benefit of GSK. Neither we, nor any of our subsidiaries, were an issuer or guarantor of any of the notes. Following its issuance of the notes in March 2022, which fell in our international second quarter of 2022, the Consumer Healthcare JV loaned to us and GSK the net proceeds received from the notes on a pro rata equity ownership basis, for which we received a loan of £2.9 billion ($3.7 billion as of the end of our second quarter of 2022), at an interest rate of 1.365% per annum payable semi-annually in arrears. In conjunction with the demerger, we received £3.5 billion ($4.2 billion) in dividends from the JV in July 2022, of which $4.0 billion related to a one-time pre-separation dividend, which decreased the carrying value of our investment and are included in Net cash provided by/(used in) investing activities . Simultaneous with the receipt of the dividends, we repaid the £2.9 billion loan from the JV. GSK similarly received pro rata dividends and simultaneously repaid its pro rata loan from the JV. In conjunction with these transactions, our indemnification of GSK’s guarantee discussed above was terminated. Investment in ViiV–– In 2009, we and GSK created ViiV, which is focused on research, development and commercialization of human immunodeficiency virus (HIV) medicines. We own approximately 11.7% of ViiV, and prior to 2016 we accounted for our investment under the equity method due to the significant influence that we have over the operations of ViiV through our board representation and minority veto rights. We suspended application of the equity method to our investment in ViiV in 2016 when the carrying value of our investment was reduced to zero due to the recognition of cumulative equity-method losses and dividends, and therefore we no longer record our proportionate share of ViiV’s net income (loss) in our results of operations. Since 2016, we have recognized dividends from ViiV as income in Other (income)/deductions––net when earned, including dividends of $272 million in 2024, $265 million in 2023 and $314 million in 2022 (see Note 4 ). Summarized financial information for our equity-method investee, ViiV, as of December 31, 2024 and 2023 and for the years ending December 31, 2024, 2023, and 2022 is as follows: As of December 31, (MILLIONS) 2024 2023 Current assets $ 4,338 $ 4,237 Noncurrent assets 3,223 3,009 Total assets $ 7,561 $ 7,245 Current liabilities $ 4,280 $ 4,085 Noncurrent liabilities 6,205 5,998 Total liabilities $ 10,485 $ 10,083 Total net equity/(deficit) attributable to shareholders $ (2,924) $ (2,838) Year Ended December 31, (MILLIONS) 2024 2023 2022 Net sales $ 8,971 $ 7,845 $ 6,955 Cost of sales (1,360) (1,060) (819) Gross profit $ 7,611 $ 6,785 $ 6,135 Income from continuing operations 3,062 3,090 3,108 Net income 3,062 3,090 3,108 Income attributable to shareholders 3,062 3,090 3,108 We enter into collaborative arrangements with respect to in-line medicines, as well as medicines in development that require completion of research and regulatory approval. Collaborative arrangements are contractual agreements with third parties that involve a joint operating activity, typically a research and/or commercialization effort, where both we and our partner are active participants in the activity and are exposed to the significant risks and rewards of the activity. Our rights and obligations under our collaborative arrangements vary. For example, we have agreements to co-promote pharmaceutical products discovered by us or other companies, and we have agreements where we partner to co-develop and/or participate together in commercializing, marketing, promoting, manufacturing and/or distributing a drug product or vaccine. Collaboration with Biohaven–– In November 2021, we entered into a collaboration and license agreement and related sublicense agreement with Biohaven and certain of its subsidiaries to commercialize rimegepant and zavegepant for the treatment and prevention of migraines outside of the U.S., subject to regulatory approval. Under the terms of the agreement, Biohaven would lead R&D globally and we would have the exclusive right to commercialization globally, outside of the U.S. Upon the closing of the transaction on January 4, 2022, we paid Biohaven $500 million, including an upfront payment of $150 million and an equity investment of $350 million. We recognized $263 million for the upfront payment and premium paid on our equity investment in Acquired in-process research and development expenses . In October 2022, we acquired all outstanding common shares of Biohaven not already owned by us for $148.50 per share, in cash, for payments of approximately $11.5 billion. See Note 2A . Summarized Financial Information for Collaborative Arrangements The following provides the amounts and classification of payments (income/(expense)) between us and our collaboration partners: Year Ended December 31, (MILLIONS) 2024 2023 2022 Product revenues (a) $ 175 $ 212 $ 437 Alliance revenues (b) 8,388 7,582 8,537 Royalty revenues (c) 923 605 614 Total revenues from collaborative arrangements $ 9,486 $ 8,400 $ 9,588 Cost of sales (d) $ (2,901) $ (4,277) $ (15,589) Selling, informational and administrative expenses (e) (335) (267) (196) Research and development expenses (f) 282 219 272 Acquired in-process research and development expenses (g) 2 (13) (339) Restructuring charges and certain acquisition-related costs (h) (45) — — Other income/(deductions)—net (15) 25 50 (a) Represents sales to our partners of products manufactured by us. (b) Substantially all relates to amounts earned from our partners under co-promotion agreements. The increase in 2024 was primarily driven by an increase in Alliance revenues from Eliquis and Xtandi, partially offset by a decrease in Alliance revenues from Bavencio. The decrease in 2023 was primarily driven by a decline in Alliance revenues from Comirnaty, partially offset by an increase in Alliance revenues from Eliquis. (c) Primarily relates to royalties from our collaboration partners. (d) Primarily relates to amounts paid to collaboration partners for their share of net sales or profits earned in collaboration arrangements where we are the principal in the transaction, and cost of sales for inventory purchased from our partners. The decreases in 2024 and in 2023 primarily relate to Comirnaty. (e) Represents net reimbursements to our partners for selling, informational and administrative expenses incurred. (f) Represents net reimbursements from our partners for research and development expenses incurred. (g) Primarily relates to upfront payments to our partners as well as premiums paid on our equity investments in the common stock of our partners. (h) Relates to exit costs associated with terminating a collaboration with SMPS. The amounts outlined in the above table do not include transactions with third parties other than our collaboration partners, or other costs for the products under the collaborative arrangements. Research and Development Funding Arrangement with Blackstone–– In April 2023, we entered into an arrangement with Blackstone under which we will receive up to a total of $550 million in 2023 through 2026 to co-fund our quarterly development costs for specified treatments. As there is substantive transfer of risk to the financial partner, the development funding is recognized by us as an obligation to perform contractual services. We are recognizing the funding as a reduction of Research and development expenses using an attribution model over the period of the related expenses. The reduction to Research and development expenses in 2024 and 2023 was $135 million and $175 million, respectively. If successful, upon regulatory approval in the U.S. or certain major markets in the EU for the indications based on the applicable clinical trials, Blackstone will be eligible to receive approval-based fixed milestone payments of up to $468 million contingent upon the successful results of the clinical trials. Fixed milestone payments due upon approval will be recorded as intangible assets and amortized to Amortization of intangible assets over the shorter of the term of the agreement or estimated commercial life of the product. Following potential regulatory approval, Blackstone will be eligible to receive a combination of fixed milestone payments of up to $550 million in total based on achievement of certain levels of cumulative applicable net sales, as well as royalties based on a mid-to-high single digit percentage of the applicable net sales. Fixed sales-based milestone payments will be recorded as intangible assets and amortized to Amortization of intangible assets over the shorter of the term of the agreement or estimated commercial life of the product, and royalties on net sales will be recorded as Cost of sales when incurred.

Restructuring Charges and Other

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives	Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives A. Realigning our Cost Base Program In the fourth quarter of 2023, we announced that we launched a multi-year, enterprise-wide cost realignment program that aims to realign our costs with our longer-term revenue expectations. We expect costs associated with this multi-year effort to continue primarily through 2025 and to total approximately $2.9 billion, primarily representing cash expenditures for severance, exit and implementation costs as well as asset write downs of which $2.2 billion is associated with our Biopharma segment. From the start of this program through December 31, 2024, we incurred costs under this program of $2.6 billion, of which $2.1 billion is associated with our Biopharma segment (including $2.0 billion of restructuring charges). B. Manufacturing Optimization Program In the second quarter of 2024, we announced that we launched a multi-year, multi-phased program to reduce our costs of goods sold, which is expected to include operational efficiencies, network structure changes, and product portfolio enhancements. The first phase of this program is focused on operational efficiencies and we expect costs for this first phase to total approximately $1.6 billion, primarily representing cash expenditures for severance and implementation costs, all of which is associated with our Biopharma segment. These costs were recorded primarily in 2024, with cash outlays expected primarily in 2025 and 2026. From the start of this program through December 31, 2024, we incurred costs under this program of $1.2 billion, substantially all of which is restructuring costs for our Biopharma segment. C. Key Activities The following summarizes costs and credits for acquisitions and cost-reduction/productivity initiatives: Year Ended December 31, (MILLIONS) 2024 2023 2022 Restructuring charges/(credits): Employee terminations $ 1,152 $ 1,622 $ 776 Asset impairments 432 227 52 Exit costs 403 119 54 Restructuring charges/(credits) (a) 1,987 1,968 882 Transaction costs (b) 5 190 144 Integration costs and other (c) 427 785 348 Restructuring charges and certain acquisition-related costs 2,419 2,943 1,375 Net periodic benefit costs/(credits) recorded in Other (income)/deductions––net 7 (7) (9) Additional depreciation––asset restructuring recorded in our consolidated statements of operations as follows (d) : Cost of sales 14 31 34 Selling, informational and administrative expenses 5 1 2 Total additional depreciation––asset restructuring 19 32 36 Implementation costs recorded in our consolidated statements of operations as follows (e) : Cost of sales 120 67 54 Selling, informational and administrative expenses 90 289 560 Research and development expenses 84 101 2 Total implementation costs 294 457 616 Total costs associated with acquisitions and cost-reduction/productivity initiatives $ 2,738 $ 3,426 $ 2,018 (a) Primarily represents cost-reduction initiatives. Amounts associated with our Biopharma segment: charges of $1.8 billion for 2024 (including charges of $1.2 billion for our Manufacturing Optimization Program and charges of $571 million for our Realigning our Cost Base Program), $1.5 billion for 2023 (including charges of $1.4 billion for our Realigning our Cost Base Program and charges of $3 million for our Transforming to a More Focused Company program, that we have substantially completed) and $796 million for 2022 (including charges of $601 million for our Transforming to a More Focused Company program). (b) Represents external costs for banking, legal, accounting and other similar services. (c) Represents external, incremental costs directly related to integrating acquired businesses, such as expenditures for consulting and the integration of systems and processes, and certain other qualifying costs. 2023 costs mostly relate to our acquisition of Seagen, including $476 million that was recognized as a post-closing compensation expense for payments to Seagen employees in the fourth quarter of 2023 for the fair value of long-term incentive awards that vested upon closing and the expense for employee incentive awards issued in contemplation of the merger. 2022 costs mostly related to our acquisitions of Arena and GBT, including $138 million in payments to Arena employees in the first quarter of 2022 and $136 million in payments to GBT employees in the fourth quarter of 2022 for the fair value of previously unvested long-term incentive awards that was recognized as post-closing compensation expense. See Note 2A . (d) Represents the impact of changes in the estimated useful lives of assets involved in restructuring actions. (e) Represents external, incremental costs directly related to implementing our non-acquisition-related cost-reduction/productivity initiatives. The following summarizes the components and changes in restructuring accruals: (MILLIONS) Employee Asset Exit Costs Accrual Balance, January 1, 2023 $ 1,196 $ — $ 8 $ 1,204 Provision 1,622 227 119 1,968 Utilization and other (a) (840) (227) (116) (1,184) Balance, December 31, 2023 (b) 1,978 — 11 1,988 Provision 1,152 432 403 1,987 Utilization and other (a) (1,083) (432) (341) (1,856) Balance, December 31, 2024 (c) $ 2,046 $ — $ 74 $ 2,120 (a) Other activity includes adjustments for foreign currency translation that are not material to our consolidated financial statements. (b) Included in Other current liabilities ($1.3 billion) and Other noncurrent liabilities ($663 million). (c) Included in Other current liabilities ($1.7 billion) and Other noncurrent liabilities ($437 million).

Other (Income)_Deductions_Net

Other (Income)/Deductions—Net	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Other (Income)/Deductions—Net	Other (Income)/Deductions—Net Components of Other (income)/deductions––net include: Year Ended December 31, (MILLIONS) 2024 2023 2022 Interest income $ (545) $ (1,624) $ (251) Interest expense (a) 3,091 2,209 1,238 Net interest expense (b) 2,546 585 987 Net (gains)/losses recognized during the period on equity securities (c) (1,008) (1,590) 1,273 Income from collaborations, out-licensing arrangements and sales of compound/product rights (42) (154) (188) Net periodic benefit costs/(credits) other than service costs 154 (610) (849) Certain legal matters, net (d) 567 474 230 Certain asset impairments (e) 3,295 3,024 421 Haleon equity method (income)/loss (f) (102) (505) (436) Other, net (g) (1,022) (1,002) (378) Other (income)/deductions––net $ 4,388 $ 222 $ 1,062 (a) Capitalized interest totaled $182 million in 2024, $160 million in 2023 and $124 million in 2022. (b) The increase in net interest expense in 2024 reflects (i) a decrease in interest income due to lower investment balances after completion of our $43.4 billion Seagen acquisition in December 2023 and (ii) higher interest expense driven by our $31 billion aggregate principal amount of senior unsecured notes issued in May 2023, as well as the remaining balance of the $8 billion of commercial paper issued in the fourth quarter of 2023, both part of the financing for our acquisition of Seagen. (c) 2024 net gains primarily include, among other things, an unrealized gain of $1.0 billion related to our investment in Haleon, which is now carried at fair value (see Note 2C ). 2023 net gains primarily included, among other things, a realized gain of $1.7 billion related to our investment in Telavant Holdings, Inc. and unrealized gains of $297 million related to our investment in Cerevel Therapeutics Holdings, Inc., partially offset by unrealized losses of $292 million related to our investment in BioNTech. 2022 net losses included, among other things, unrealized losses of $986 million related to investments in BioNTech, Allogene Therapeutics, Inc. and Arvinas. (d) 2024 primarily includes certain product liability expenses related to products discontinued and/or divested by Pfizer. 2023 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer and legal obligations related to pre-acquisition matters. 2022 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer. (e) The amount for 2024 represents intangible asset impairment charges, and includes $2.9 billion recorded in the fourth quarter associated with our Biopharma segment, due to changes in development plans and updated long-range commercial forecasts, composed of: (i) $1.0 billion for B7H4V (felmetatug vedotin), a Phase 1 IPR&D asset, (ii) $475 million for Medrol, a finite-lived brand, (iii) $435 million for Zavzpret nasal spray developed technology rights, (iv) $400 million and $200 million for Tukysa and disitamab vedotin, respectively, IPR&D assets reflecting emerging competition, as well as (v) other developed technology rights, IPR&D impairments and a finite-lived licensing agreement totaling $436 million which also includes de-prioritization of certain assets. 2024 also includes a $240 million intangible asset impairment charge, associated with our Biopharma segment that represents IPR&D related to a Phase 3 study for the treatment of DMD, which reflects unfavorable clinical trial results. The amount for 2023 primarily represented intangible asset impairment charges of $3.0 billion, of which $2.9 billion was associated with our Biopharma segment ($2.8 billion recorded in the fourth quarter), including: (i) $1.4 billion for etrasimod (Velsipity) IPR&D, based on a change in development plans for additional indications and overall revenue expectations, (ii) $964 million for Prevnar 13 developed technology rights due to updated commercial forecasts mainly reflecting a transition to vaccines with higher serotype coverage, as well as (iii) $486 million for various other IPR&D assets and developed technology rights, due to updated commercial forecasts mainly reflecting competitive pressures and/or prioritization decisions. 2023 also included $128 million associated with Other business activities, related to IPR&D and developed technology rights for acquired software assets and reflected unfavorable pivotal trial results and updated commercial forecasts. 2022 represented intangible asset impairment charges associated with our Biopharma segment of $200 million for an IPR&D asset for the unapproved indication of symptomatic dilated cardiomyopathy due to a mutation of the gene encoding the lamin A/C protein that resulted from the Phase 3 trial reaching futility at a pre-planned interim analysis and $171 million for developed technology rights due to updated commercial forecasts mainly reflecting competitive pressures. 2022 also included intangible asset impairment charges of $50 million associated with PC1, related to finite-lived licensing agreements, and reflected updated contract manufacturing forecasts reflecting changes to market dynamics. (f) See Note 2C . (g) The amount for 2024 primarily includes, among other things, (i) gains of $945 million on the partial sales of our investment in Haleon in March and October 2024, (ii) dividend income of $272 million from our investment in ViiV and (iii) a charge of $420 million recorded in the third quarter related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program . 2023 included, among other things, (i) dividend income of $265 million from our investment in ViiV and $211 million from our investment in Nimbus resulting from Takeda’s acquisition of Nimbus’s oral, selective allosteric tyrosine kinase 2 (TYK2) inhibitor program subsidiary and (ii) a $222 million gain on the divestiture of our early-stage rare disease gene therapy portfolio to Alexion. 2022 included, among other things, (i) dividend income of $314 million from our investment in ViiV, (ii) income net of costs associated with TSAs of $142 million and (iii) charges of $77 million, reflecting the change in the fair value of contingent consideration. Additional information about the intangible assets that were impaired during 2024 follows: Year Ended Fair Value (a) December 31, 2024 (MILLIONS) Amount Level 1 Level 2 Level 3 Impairment IPR&D (b) $ 4,900 $ — $ — $ 4,900 $ 1,873 Developed technology rights (b) 524 — — 524 943 Finite-lived brand (b) 270 — — 270 475 Finite-lived licensing agreement (b) — — — — 5 Total $ 5,694 $ — $ — $ 5,694 $ 3,295 (a) The fair value amounts are presented as of the date of impairment, as these assets are not measured at fair value on a recurring basis. See also Note 1E . (b) Reflects intangible assets written down to fair value in 2024. Fair value was determined using the income approach, specifically the multi-period excess earnings method, also known as the discounted cash flow method. We started with a forecast of all the expected net cash flows for the asset and then applied an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows, which includes the expected impact of competitive, legal and/or regulatory forces on the product; and assumptions about the probability of technical and regulatory success (PTRS) of ongoing clinical trials, the discount rate, which seeks to reflect the various risks inherent in the projected cash flows; and the tax rate, which seeks to incorporate the geographic diversity of the projected cash flows.

Tax Matters

Tax Matters	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Tax Matters	Tax Matters A. Taxes on Income from Continuing Operations Components of Income from continuing operations before provision/(benefit) for taxes on income include: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States $ (637) $ (4,411) $ 5,032 International 8,660 5,469 29,697 Income from continuing operations before provision/(benefit) for taxes on income ( a), (b) $ 8,023 $ 1,058 $ 34,729 (a) 2024 v. 2023 –– The reduction in the domestic loss in 2024 versus the domestic loss in 2023 is primarily attributable to increased revenues offset by higher restructuring charges and asset impairment charges. The increase in the international income is primarily attributable to lower: Cost of Sales , Restructuring charges and certain acquisition-related costs and asset impairment charges. (b) 2023 v. 2022 –– The domestic loss in 2023 versus domestic income in 2022 and the decrease in international income in 2023 was primarily attributable to lower revenues, higher intangible asset impairment charges, and increases in Restructuring charges and certain acquisition-related costs , Amortization of intangible assets , and Selling, informational and administrative expenses , partially offset by a decrease in Cost of sales and net gains on equity securities in 2023 versus net losses on equity securities in 2022 . Components of Provision/(benefit) for taxes on income based on the location of the taxing authorities include: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States Current income taxes: Federal $ 453 $ 1,321 $ 2,744 State and local 32 (135) (20) Deferred income taxes: Federal (1,909) (2,606) (3,271) State and local (293) (184) (310) Total U.S. tax provision/(benefit) (1,717) (1,605) (857) International Current income taxes 1,588 1,142 4,368 Deferred income taxes 100 (652) (183) Total international tax provision/(benefit) 1,689 490 4,185 Provision/(benefit) for taxes on income $ (28) $ (1,115) $ 3,328 The changes in Provision/(benefit) for taxes on income impacting the effective tax rate year-over-year are summarized below: 2024 v. 2023 The tax benefit of $28 million for 2024 compared to the tax benefit of $1.1 billion for 2023 was primarily a result of changes in the jurisdictional mix of earnings partially offset by a tax benefit related to the Transition Tax liability under the TCJA. 2023 v. 2022 The tax benefit of $1.1 billion for 2023 compared to the tax provision of $3.3 billion for 2022 was primarily a result of changes in the jurisdictional mix of earnings and the resolution of uncertain tax positions in various markets. The 2023 pre-tax income included a greater percentage of expenses taxed at higher rates as compared to the 2022 pre-tax income, resulting in a 2023 tax benefit compared to the 2022 tax provision. These expenses included amortization expense, acquisition-related costs, restructuring charges and intangible asset impairment charges. The tax benefit for 2023 and the tax provision for 2022 included tax benefits related to global income tax resolutions in multiple tax jurisdictions spanning multiple tax years. The tax provision for 2022 also included the closing of U.S. IRS audits covering five tax years. In all years, federal, state and international net tax liabilities assumed or established as part of a business acquisition are not included in Provision/(benefit) for taxes on income (see Note 2A ). We elected, with the filing of our 2018 U.S. Federal Consolidated Income Tax Return, to pay our initial estimated $15 billion repatriation tax liability on accumulated post-1986 foreign earnings (Transition Tax liability) over eight years through 2026. The sixth annual installment was paid by its April 15, 2024 due date. The seventh annual installment is due April 15, 2025 and is reported in current Income taxes payable as of December 31, 2024. The remaining liability is reported in noncurrent Other taxes payable. Our obligations may vary due to the availability of attributes such as foreign tax and other credit carryforwards or carrybacks. Cash paid for income taxes, net of refunds, consisted of: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States $ 2,593 $ 1,923 $ 3,867 International 1,012 1,224 4,000 Total $ 3,605 $ 3,147 $ 7,867 B. Tax Rate Reconciliation The reconciliation of the U.S. statutory income tax rate to our effective tax rate for Income from continuing operations follows: Year Ended December 31, 2024 2023 ^ 2022 U.S. statutory income tax rate 21.0 % 21.0 % 21.0 % Taxation of non-U.S. operations (a), (b) (7.9) (21.1) (5.0) Transition Tax liability (c) (6.0) — — Tax settlements and resolution of certain tax positions (c) (2.4) (40.3) (3.0) Foreign-Derived Intangible Income deduction (d) (1.2) (33.1) (1.9) State & local taxes (e) (2.5) (22.4) — Charitable contributions (1.7) (7.3) (0.5) U.S. R&D tax credit (1.8) (15.8) (0.6) Interest (f) 2.2 13.5 0.2 All other, net (g) 0.1 0.2 (0.6) Effective tax rate for income from continuing operations (0.4) % (105.4) % 9.6 % ^ The higher rate percentages for the 2023 reconciling items are significantly impacted by the lower domestic and international Income from continuing operations before provision/(benefit) for taxes on income (see Note 5A ) . (a) For taxation of non-U.S. operations, this rate impact reflects the income tax rates and relative earnings in the locations where we do business outside the U.S., together with the U.S. tax cost on our international operations, changes in uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions,” as well as changes in valuation allowances. Specifically: (i) the jurisdictional location of earnings is a significant component of our effective tax rate each year, and the rate impact of this component is influenced by the specific location of non-U.S. earnings and the level of such earnings as compared to our total earnings; (ii) the U.S. tax implications of our foreign operations is a significant component of our effective tax rate each year and generally offsets some of the reduction to our effective tax rate each year resulting from the jurisdictional location of earnings; (iii) the impact of certain tax initiatives; and (iv) the impact of changes in uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions” is a component of our effective tax rate each year that can result in either an increase or decrease to our effective tax rate. The jurisdictional mix of earnings, which includes the impact of the location of earnings as well as the U.S. tax cost on our international operations, can vary as a result of operating fluctuations in the normal course of business and as a result of the extent and location of other income and expense items, such as restructuring charges, asset impairments and gains and losses on strategic business decisions. See also Note 5A for the components of pre-tax income and Provision/(benefit) for taxes on income, which is based on the location of the taxing authorities, and for information about settlements and other items impacting Provision/(benefit) for taxes on income . (b) In all years, the reduction in our effective tax rate is a result of the jurisdictional location of earnings and is largely due to lower tax rates in certain jurisdictions, as well as manufacturing and other incentives for our subsidiaries in Singapore and, to a lesser extent, in Puerto Rico. We have Puerto Rican tax incentives pursuant to a grant that expires during 2053. Under such grant, we are partially exempt from income, property and municipal taxes. In Singapore, we have incentive tax rates effective through 2048 on income from manufacturing and other operations. (c) See Note 5A . (d) The higher rate benefit from the Foreign-Derived Intangible Income deduction in 2022 is mainly the result of the TCJA requirement to capitalize R&D costs for tax years beginning after December 31, 2021. (e) Includes the impact of U.S. state and local taxes and changes in the state valuation allowances including those related to the acquisition of Seagen. (f) Includes changes in interest related to our uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions”. (g) All other, net is primarily due to routine business operations. C. Deferred Taxes Components of our deferred tax assets and liabilities, shown before jurisdictional netting, follow: 2024 Deferred Tax^ 2023 Deferred Tax^ (MILLIONS) Assets (Liabilities) Assets (Liabilities) Prepaid/deferred items (a) $ 2,988 $ (847) $ 2,658 $ (654) Accrued/deferred royalties 1,306 — 1,655 — Deferred revenues 300 — 471 — Inventories (b) 992 (702) 1,210 (1,060) Intangible assets (c) 1,435 (9,066) 1,526 (11,605) Property, plant and equipment 265 (1,751) 168 (2,039) Employee benefits (d) 1,002 (274) 1,085 (287) Restructurings and other charges 462 — 537 — Legal and product liability reserves 378 — 430 — Research and development (e) 7,635 — 6,275 — Net operating loss/tax credit carryforwards (f) 2,028 — 2,708 — Unremitted earnings — (69) — (60) State and local tax adjustments 161 — 119 — Investments 73 (248) 133 (395) All other 87 (66) 62 (72) 19,112 (13,023) 19,037 (16,172) Valuation allowances (1,638) — (1,738) — Total deferred taxes $ 17,474 $ (13,023) $ 17,299 $ (16,172) Net deferred tax asset/(liability) (g), (h) $ 4,451 $ 1,128 ^ The deferred tax assets and liabilities associated with global intangible low-taxed income are included in the relevant categories. See Note 1Q . (a) The increase in net deferred tax assets in 2024 is primarily related to temporary differences associated with the timing of accruals recorded in the ordinary course of business. (b) The increase in net deferred tax assets in 2024 is primarily due to measurement period adjustments of inventories related to Seagen. See Note 2A . (c) The decrease in net deferred tax liabilities in 2024 is primarily due to amortization of intangible assets and certain impairment charges, as well as the measurement period adjustments of intangible assets related to Seagen. (d) The decrease in net deferred tax assets in 2024 is primarily due to changes in pension and postretirement benefit obligations, as well as the performance of plan assets reported in the period. See Note 11 . (e) The increase in deferred tax assets in 2024 is primarily related to the TCJA requirement to capitalize R&D costs for tax years beginning after December 31, 2021. (f) The amounts in 2024 and 2023 are reduced for unrecognized tax benefits of $575 million and $1.3 billion, respectively, where we have net operating loss carryforwards, similar tax losses, and/or tax credit carryforwards that are available, under the tax law of the applicable jurisdiction, to settle any additional income taxes that would result from the disallowance of a tax position. (g) In 2024, Noncurrent deferred tax assets and other noncurrent tax assets ($6.6 billion), and Noncurrent deferred tax liabilities ($2.1 billion). In 2023, Noncurrent deferred tax assets and other noncurrent tax assets ($1.8 billion), and Noncurrent deferred tax liabilities ($640 million). (h) Excludes indefinite- and definite-lived deferred tax assets for certain non-U.S. tax losses and interest carryforwards and U.S. state general business credits, totaling $11.3 billion and $11.1 billion for 2024 and 2023 respectively, given that management has determined based on applicable accounting rules that it is remote that these tax attributes will be utilized. We have carryforwards, primarily related to net operating and capital losses, general business credits, foreign tax credits and charitable contributions, which are available to reduce future U.S. federal and/or state, as well as international, income taxes payable with either an indefinite life or expiring at various times from 2025 to 2044. Certain of our U.S. net operating losses and general business credits are subject to limitations under IRC Section 382. As of December 31, 2024, we have not made a U.S. tax provision on $58.0 billion of unremitted earnings of our international subsidiaries. As these earnings are intended to be indefinitely reinvested overseas, the determination of a hypothetical unrecognized deferred tax liability as of December 31, 2024 is not practicable. The amount of indefinitely reinvested earnings is based on estimates and assumptions and subject to management evaluation, and is subject to change in the normal course of business based on operational cash flow, completion of local statutory financial statements and the finalization of tax returns and audits, among other things. Accordingly, we regularly update our earnings and profits analysis for such events. D. Tax Contingencies For a description of our accounting policies associated with accounting for income tax contingencies, see Note 1Q . Uncertain Tax Positions As tax law is complex and often subject to varied interpretations, it is uncertain whether some of our tax positions will be sustained upon audit. As of December 31, 2024, we had $2.0 billion and as of December 31, 2023, we had $3.1 billion in net unrecognized tax benefits, excluding associated interest. • Tax assets for uncertain tax positions represent our estimate of the potential tax benefits in one tax jurisdiction that could result from the payment of income taxes in another tax jurisdiction. These potential benefits generally result from cooperative efforts among taxing authorities, as required by tax treaties to minimize double taxation, commonly referred to as the competent authority process. The recoverability of these assets, which we believe to be more likely than not, is dependent upon the actual payment of taxes in one tax jurisdiction and, in some cases, the successful petition for recovery in another tax jurisdiction. In 2024, tax assets for uncertain tax positions also include the expected filing of an amended income tax return relating to the Transition Tax liability under the TCJA. As of December 31, 2024, we had $2.5 billion in assets associated with uncertain tax positions mainly included in Noncurrent deferred tax assets and other noncurrent tax assets . As of December 31, 2023, we had $1.7 billion in assets associated with uncertain tax positions mainly included in Noncurrent deferred tax assets and other noncurrent tax assets . • The majority of these unrecognized tax benefits, if recognized, would impact our effective income tax rate. The reconciliation of the beginning and ending amounts of gross unrecognized tax benefits follows: (MILLIONS) 2024 2023 2022 Balance, beginning $ (4,802) $ (4,494) $ (6,068) Acquisitions 8 (46) (52) Increases based on tax positions taken during a prior period (a), (b) (934) (158) (67) Decreases based on tax positions taken during a prior period (a), (c) 599 310 1,339 Decreases based on settlements for a prior period (c), (d) 911 85 842 Increases based on tax positions taken during the current period (a) (433) (515) (701) Impact of foreign exchange 52 (44) 90 Other, net (a), (e) 70 58 122 Balance, ending (f) $ (4,530) $ (4,802) $ (4,494) (a) Primarily included in Provision/(benefit) for taxes on income. (b) In 2024, the amount includes a gross unrecognized tax benefit associated with the expected filing of an amended income tax return related to the Transition Tax liability under the TCJA. (c) Primarily related to effectively settling certain issues with the U.S. and foreign tax authorities. See Not e 5A . (d) Primarily related to cash payments and reductions of tax attributes. (e) Primarily related to decreases as a result of a lapse of applicable statutes of limitations. (f) In 2024, included in Income taxes payable ($103 million), Other current assets ($0.4 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.5 billion), Noncurrent deferred tax liabilities ($3 million) and Other taxes payable ($2.9 billion). In 2023, included in Income taxes payable ($94 million), Other current assets ($1 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.3 billion), Noncurrent deferred tax liabilities ($4 million) and Other taxes payable ($3.4 billion). • Interest related to our unrecognized tax benefits is recorded in accordance with the laws of each jurisdiction and is recorded primarily in Provision/(benefit) for taxes on income . In 2024, we recorded a net increase in interest of $91 million. In 2023, we recorded a net increase in interest of $64 million. In 2022, we recorded a net decrease in interest of $17 million. Gross accrued interest totaled $636 million as of December 31, 2024 (reflecting a decrease of $56 million as a result of cash payments) and gross accrued interest totaled $605 million as of December 31, 2023 (reflecting a decrease of $11 million as a result of cash payments). In 2024 and 2023, these amounts were substantially all included in Other taxes payable. Accrued penalties are not significant. See also Note 5A . Status of Tax Matters and Potential Impact on Accruals for Uncertain Tax Positions The U.S. is one of our major tax jurisdictions, and we are regularly audited by the IRS. During the third quarter of 2024, we effectively settled the audit of Pfizer’s federal income tax returns for years 2016-2018. Tax years 2019-2024 are open but not under audit. All other tax years are closed. In addition to the open audit years in the U.S., we have open audit years and certain related audits, appeals and investigations in certain major international tax jurisdictions such as Canada (2017-2024), Europe (2012-2024, primarily in Ireland, the U.K., France, Italy, Spain and Germany), Asia Pacific (2014-2024, primarily in Australia, China, Japan and Singapore) and Latin America (1998-2024, primarily in Brazil). Any settlements or statutes of limitations expirations could result in a significant decrease in our uncertain tax positions. We estimate that it is reasonably possible that within the next 12 months, our gross unrecognized tax benefits, exclusive of interest, could decrease by as much as $200 million, as a result of settlements with taxing authorities or the expiration of the statutes of limitations. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but our estimates of unrecognized tax benefits and potential tax benefits may not be representative of actual outcomes, and variation from such estimates could materially affect our financial statements in the period of settlement or when the statutes of limitations expire, as we treat these events as discrete items in the period of resolution. Finalizing audits with the relevant taxing authorities can include formal administrative and legal proceedings, and, as a result, it is difficult to estimate the timing and range of possible changes related to our uncertain tax positions, and such changes could be significant. E. Tax Provision/(Benefit) on Other Comprehensive Income/(Loss) Components of the Tax provision/(benefit) on other comprehensive income/(loss) include: Year Ended December 31, (MILLIONS) 2024 2023 2022 Foreign currency translation adjustments, net (a) $ 156 $ (33) $ (126) Unrealized holding gains/(losses) on derivative financial instruments, net 96 111 183 Reclassification adjustments for (gains)/losses included in net income (29) (93) (270) 67 18 (87) Unrealized holding gains/(losses) on available-for-sale securities, net (19) (15) (164) Reclassification adjustments for (gains)/losses included in net income 5 (18) 226 (14) (33) 62 Benefit plans: prior service (costs)/credits and other, net 45 (5) (5) Reclassification adjustments related to amortization of prior service costs and other, net (26) (28) (29) Reclassification adjustments related to curtailments of prior service costs and other, net 2 (4) (3) 22 (37) (37) Tax provision/(benefit) on other comprehensive income/(loss) $ 231 $ (85) $ (187) (a) Taxes are not provided for foreign currency translation adjustments relating to investments in international subsidiaries that are expected to be held indefinitely.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests	Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests The following summarizes the changes, net of tax, in Accumulated other comprehensive loss : Net Unrealized Gains/(Losses) Benefit Plans (MILLIONS) Foreign Currency Translation Adjustments (a) Derivative Financial Instruments Available-For-Sale Securities Prior Service (Costs)/Credits and Other Accumulated Other Comprehensive Income/(Loss) Balance, January 1, 2022 $ (6,172) $ 119 $ (220) $ 377 $ (5,897) Other comprehensive income/(loss) (b) (2,188) (531) 440 (129) (2,407) Balance, December 31, 2022 (8,360) (412) 220 248 (8,304) Other comprehensive income/(loss) (b) 497 195 (229) (120) 343 Balance, December 31, 2023 (7,863) (217) (9) 128 (7,961) Other comprehensive income/(loss) (b) (121) 274 (97) 63 118 Balance, December 31, 2024 $ (7,984) $ 57 $ (106) $ 191 $ (7,842) (a) Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests. (b) Foreign currency translation adjustments include net gains/(losses) related to the impact of our net investment hedging program and gains/(losses) related to our investment in Haleon (see Note 2C ).

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments A. Fair Value Measurements Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis and Fair Value Hierarchy, using a Market Approach: As of December 31, 2024 As of December 31, 2023 (MILLIONS) Total Level 1 Level 2 Total Level 1 Level 2 Financial assets: Short-term investments Equity securities with readily determinable fair value (a) $ 7,848 $ 6,456 $ 1,392 $ 5,124 $ — $ 5,124 Available-for-sale debt securities: Government and agency—non-U.S. 6,855 — 6,855 817 — 817 Government and agency—U.S. 2,853 — 2,853 2,601 — 2,601 Corporate and other 1,173 — 1,173 982 — 982 10,881 — 10,881 4,400 — 4,400 Total short-term investments 18,729 6,456 12,273 9,524 — 9,524 Other current assets Derivative assets: Foreign exchange contracts 1,056 — 1,056 298 — 298 Total other current assets 1,056 — 1,056 298 — 298 Long-term investments Equity securities with readily determinable fair values (b) 1,246 1,246 — 2,779 2,772 7 Available-for-sale debt securities: Government and agency—non-U.S. — — — 124 — 124 Corporate and other — — — 26 — 26 — — — 150 — 150 Total long-term investments 1,246 1,246 — 2,929 2,772 156 Other noncurrent assets Derivative assets: Interest rate contracts 13 — 13 144 — 144 Foreign exchange contracts 447 — 447 258 — 258 Total derivative assets 460 — 460 402 — 402 Insurance contracts (c) 875 — 875 790 — 790 Total other noncurrent assets 1,335 — 1,335 1,191 — 1,191 Total assets $ 22,366 $ 7,701 $ 14,665 $ 13,943 $ 2,772 $ 11,170 Financial liabilities: Other current liabilities Derivative liabilities: Interest rate contracts $ 28 $ — $ 28 $ 16 $ — $ 16 Foreign exchange contracts 217 — 217 404 — 404 Total other current liabilities 245 — 245 420 — 420 Other noncurrent liabilities Derivative liabilities: Interest rate contracts 397 — 397 275 — 275 Foreign exchange contracts 723 — 723 725 — 725 Total other noncurrent liabilities 1,121 — 1,121 1,000 — 1,000 Total liabilities $ 1,366 $ — $ 1,366 $ 1,420 $ — $ 1,420 (a) Includes money market funds. As of December 31, 2024, short-term equity securities include our investment in Haleon of $6.5 billion. See Note 2C . (b) Long-term equity securities of $133 million as of December 31, 2024 and $130 million as of December 31, 2023 were held in restricted trusts for U.S. non-qualified employee benefit plans. (c) Includes life insurance policies held in restricted trusts for U.S. non-qualified employee benefit plans. The underlying invested assets in these contracts are marketable securities, which are carried at fair value, with changes in fair value recognized in Other (income)/deductions—net (see Note 4 ) . Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis–– The carrying value of Long-term debt, excluding the current portion was $57 billion as of December 31, 2024 and $62 billion as of December 31, 2023. The estimated fair value of such debt, using a market approach and Level 2 inputs, was $54 billion as of December 31, 2024 and $61 billion as of December 31, 2023. The differences between the estimated fair values and carrying values of held-to-maturity debt securities, private equity securities, long-term receivables and short-term borrowings not measured at fair value on a recurring basis were not significant as of December 31, 2024 and 2023. The fair value measurements of our held-to-maturity debt securities and short-term borrowings are based on Level 2 inputs. The fair value measurements of our long-term receivables and private equity securities are based on Level 3 inputs. B. Investments Total Short-Term, Long-Term and Equity-Method Investments The following summarizes our investments by classification type: As of December 31, (MILLIONS) 2024 2023 Short-term investments Equity securities with readily determinable fair values (a) $ 7,848 $ 5,124 Available-for-sale debt securities 10,881 4,400 Held-to-maturity debt securities 705 313 Total Short-term investments $ 19,434 $ 9,837 Long-term investments Equity securities with readily determinable fair values (b) $ 1,246 $ 2,779 Available-for-sale debt securities — 150 Held-to-maturity debt securities 45 47 Private equity securities at cost (b) 719 755 Total Long-term investments $ 2,010 $ 3,731 Equity-method investments (a) 217 11,637 Total long-term investments and equity-method investments $ 2,228 $ 15,368 Held-to-maturity cash equivalents $ 184 $ 207 (a) As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt. (b) Represent investments in the life sciences sector. Debt Securities Our investment portfolio consists of investment-grade debt securities issued across diverse governments, corporate and financial institutions: As of December 31, 2024 As of December 31, 2023 Gross Unrealized Maturities (in Years) Gross Unrealized (MILLIONS) Amortized Cost Gains Losses Fair Value Within 1 Over 1 Over 5 Amortized Cost Gains Losses Fair Value Available-for-sale debt securities Government and agency –– non-U.S. $ 6,970 $ 8 $ (123) $ 6,855 $ 6,855 $ — $ — $ 953 $ 2 $ (14) $ 941 Government and agency –– U.S. 2,853 — — 2,853 2,853 — — 2,601 — — 2,601 Corporate and other 1,179 — (6) 1,173 1,173 — — 1,006 4 (2) 1,007 Held-to-maturity debt securities Time deposits and other 697 — — 697 657 21 19 561 — — 561 Government and agency –– non-U.S. 237 — — 237 232 4 1 4 — — 4 Total debt securities $ 11,935 $ 8 $ (129) $ 11,814 $ 11,770 $ 25 $ 20 $ 5,126 $ 6 $ (16) $ 5,115 Any expected credit losses to these portfolios would be immaterial to our financial statements. Equity Securities The following presents the calculation of the portion of unrealized (gains)/losses that relates to equity securities, excluding equity-method investments, held at the reporting date: Year Ended December 31, (MILLIONS) 2024 2023 2022 Net (gains)/losses recognized during the period on equity securities (a) $ (1,008) $ (1,590) $ 1,273 Less: Net (gains)/losses recognized during the period on equity securities sold during the period (1,122) (1,754) (126) Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date (b) $ 114 $ 165 $ 1,400 (a) Reported in Other (income)/deductions –– net . See Note 4 . (b) Included in net unrealized (gains)/losses are observable price changes on equity securities without readily determinable fair values. As of December 31, 2024, there were cumulative impairments and downward adjustments of $360 million and upward adjustments of $222 million. Impairments, downward and upward adjustments were not material to our operations in 2024, 2023 and 2022. C. Short-Term Borrowings Short-term borrowings include: As of December 31, (MILLIONS) 2024 2023 Commercial paper, principal amount (a) $ 2,453 $ 7,965 Current portion of long-term debt, principal amount 3,750 2,250 Other short-term borrowings, principal amount (b) 755 252 Total short-term borrowings, principal amount 6,957 10,467 Net fair value adjustments related to hedging and purchase accounting — 5 Net unamortized discounts, premiums and debt issuance costs (12) (121) Total Short-term borrowings, including current portion of long-term debt , carried at historical proceeds, as adjusted $ 6,946 $ 10,350 (a) Issued in the fourth quarter of 2023 as part of the financing for our acquisition of Seagen (see Note 2A ). The weighted-average effective interest rate on commercial paper outstanding was approximately 4.94% as of December 31, 2024 and 5.37% as of December 31, 2023. (b) Primarily includes cash collateral. See Note 7F . D. Long-Term Debt The following outlines our senior unsecured long-term debt (a) and the weighted-average stated interest rate by maturity: As of December 31, (MILLIONS) 2024 2023 Notes due 2025 (3.9% for 2023) (b) $ — $ 3,750 Notes due 2026 (3.7% for 2024 and 2023) 6,000 6,000 Notes due 2027 (2.2% for 2024 and 2.1% for 2023) 980 1,029 Notes due 2028 (4.6% for 2024 and 2023) 5,660 5,660 Notes due 2029 (3.5% for 2024 and 2023) 1,750 1,750 Notes due 2030 (3.6% for 2024 and 2023) 5,250 5,250 Notes due 2031-2035 (4.5% for 2024 and 2023) 6,750 6,750 Notes due 2036-2040 (5.4% for 2024 and 2023) 9,534 9,543 Notes due 2041-2045 (4.3% for 2024 and 2023) 6,474 6,501 Notes due 2046-2050 (3.7% for 2024 and 2023) 4,750 4,750 Notes due 2051-2063 (5.3% for 2024 and 2023) 10,000 10,000 Total long-term debt, principal amount 57,147 60,982 Net fair value adjustments related to hedging and purchase accounting 701 1,039 Net unamortized discounts, premiums and debt issuance costs (444) (483) Total long-term debt, carried at historical proceeds, as adjusted $ 57,405 $ 61,538 Current portion of long-term debt, carried at historical proceeds, as adjusted (not included above (3.9% for 2024 and 2023)) $ 3,747 $ 2,254 (a) Our long-term debt is generally redeemable by us at any time at varying redemption prices plus accrued and unpaid interest. (b) Reclassified to the current portion of long-term debt. Issuance— In May 2023, we issued, through our wholly-owned finance subsidiary, PIE, $31 billion principal amount of senior unsecured notes at an effective interest rate of 4.93% as part of the financing for our acquisition of Seagen. The notes are fully and unconditionally guaranteed on a senior unsecured basis by Pfizer Inc. PIE was formed to finance a portion of the consideration for the acquisition of Seagen and has no assets or operations, and will have no assets or operations, other than as related to the issuance, administration and repayment of the notes and any other debt securities that it may issue in the future. E. Derivative Financial Instruments and Hedging Activities Foreign Exchange Risk–– A significant portion of our revenues, earnings and net investments in foreign affiliates is exposed to changes in foreign exchange rates. Where foreign exchange risk is not offset by other exposures, we manage our foreign exchange risk principally through the use of derivative financial instruments and foreign currency debt. These financial instruments serve to mitigate the impact on net income as a result of remeasurement into another currency, or against the impact of translation into U.S. dollars of certain foreign exchange-denominated transactions. The derivative financial instruments primarily hedge or offset exposures in the euro, U.K. pound, Chinese renminbi, Japanese yen, Canadian dollar and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up to two years. We may seek to protect against possible declines in the reported net investments of our foreign business entities. Changes in fair value are reported in earnings or in Other comprehensive income/(loss) , depending on the nature and purpose of the financial instrument (hedge or offset relationship). For certain foreign exchange contracts, we exclude an amount from the assessment of hedge effectiveness and recognize the excluded amount through an amortization approach in earnings. The hedge relationships are as follows: • Generally, we recognize the gains and losses on foreign exchange contracts that are designated as fair value hedges in earnings upon the recognition of the change in fair value of the hedged item. We also recognize the offsetting foreign exchange impact attributable to the hedged item in earnings. • Generally, we record in Other comprehensive income/(loss) gains or losses on foreign exchange contracts that are designated as cash flow hedges and reclassify those amounts into earnings in the same period or periods during which the hedged transaction affects earnings. • We record in Other comprehensive income/(loss)––Foreign currency translation adjustments, net the foreign exchange gains and losses related to foreign exchange-denominated debt and foreign exchange contracts designated as a hedge of our net investments in foreign subsidiaries and reclassify those amounts into earnings upon the sale or substantial liquidation of our net investments. • For foreign exchange contracts not designated as hedging instruments, we recognize the gains and losses immediately into earnings along with the earnings impact of the items they generally offset. These contracts take the opposite currency position of that reflected on the balance sheet to counterbalance the effect of any currency movement. Interest Rate Risk–– Our interest-bearing investments and borrowings are subject to interest rate risk. Depending on market conditions, we may change the profile of our outstanding debt or investments by entering into derivative financial instruments like interest rate swaps, either to hedge or offset the exposure to changes in the fair value of hedged items with fixed interest rates, or to convert variable rate debt or investments to fixed rates. The derivative financial instruments primarily hedge U.S. dollar fixed-rate debt. We recognize the change in fair value on interest rate contracts that are designated as fair value hedges in earnings, as well as the offsetting earnings impact of the hedged risk attributable to the hedged item. The following summarizes the fair value of the derivative financial instruments and notional amounts: (MILLIONS) As of December 31, 2024 As of December 31, 2023 Fair Value Fair Value Notional Asset Liability Notional Asset Liability Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ 23,991 $ 1,250 $ 719 $ 18,750 $ 403 $ 916 Interest rate contracts 6,750 13 425 6,750 144 290 1,263 1,144 546 1,206 Derivatives not designated as hedging instruments: Foreign exchange contracts $ 26,335 253 221 $ 25,609 154 214 Total $ 1,516 $ 1,366 $ 700 $ 1,420 (a) The notional amount of outstanding foreign exchange contracts hedging our intercompany forecasted inventory sales was $5.0 billion as of December 31, 2024 and $4.9 billion as of December 31, 2023. The following summarizes information about the gains/(losses) incurred to hedge or offset operational foreign exchange or interest rate risk exposures: (a) Gains/(Losses) (a) Gains/(Losses) (a) Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Derivative Financial Instruments in Cash Flow Hedge Relationships: Interest rate contracts $ — $ — $ — $ 68 $ — $ 1 Foreign exchange contracts (b) — — 466 380 124 236 Amount excluded from effectiveness testing and amortized into earnings (c) — — 34 178 34 177 Derivative Financial Instruments in Fair Value Hedge Relationships: Interest rate contracts (253) 196 — — — — Hedged item 253 (196) — — — — Derivative Financial Instruments in Net Investment Hedge Relationships: Foreign exchange contracts — — 498 (393) — — Amount excluded from effectiveness testing and amortized into earnings (c) — — 119 137 154 136 Non-Derivative Financial Instruments in Net Investment Hedge Relationships (d) : Foreign currency short-term borrowings — — — — — — Foreign currency long-term debt — — 49 (29) — — Derivative Financial Instruments Not Designated as Hedges: Foreign exchange contracts 50 164 — — — — $ 50 $ 164 $ 1,166 $ 341 $ 313 $ 549 (a) OID = Other (income)/deductions—net, included in Other (income)/deductions—net in the consolidated statements of operations . COS = Cost of Sales, included in Cost of sales in the consolidated statements of operations. OCI = Other comprehensive income/(loss), included in the consolidated statements of comprehensive income/(loss) . (b) The amounts reclassified from OCI into COS were a net gain of $119 million in 2024 and a net gain of $253 million in 2023. The remaining amounts were reclassified from OCI into OID. Based on year-end foreign exchange rates that are subject to change, we expect to reclassify a pre-tax gain of $330 million within the next 12 months into income . The maximum length of time over which we are hedging our exposure to the variability in future foreign exchange cash flows is approximately 18 years and relates to foreign currency debt. (c) The amounts reclassified from OCI were reclassified into OID. (d) Long-term debt includes foreign currency borrowings which are used in net investment hedges; the related carrying values as of December 31, 2024 and December 31, 2023 were $777 million and $824 million, respectively. The following summarizes cumulative basis adjustments to our long-term debt in fair value hedges: As of December 31, 2024 As of December 31, 2023 Cumulative Amount of Fair Cumulative Amount of Fair (MILLIONS) Carrying Amount of Hedged Assets/Liabilities (a) Active Discontinued Hedging Relationships Carrying Amount of Hedged Assets/Liabilities (a) Active Hedging Relationships Discontinued Hedging Relationships Long-term debt $ 7,154 $ (384) $ 891 $ 7,196 $ (131) $ 957 (a) Carrying amounts exclude the cumulative amount of fair value hedging adjustments. F. Credit Risk On an ongoing basis, we monitor and review the credit risk of our customers, financial institutions and exposures in our investment portfolio. With respect to our trade accounts receivable, we monitor the creditworthiness of our customers to which we grant credit in the normal course of business. In general, there is no requirement for collateral from customers. For additional information on our trade accounts receivable and allowance for credit losses, see Note 1 G . A significant portion of our trade accounts receivable balances are due from wholesalers and governments. For additional information on our trade accounts receivables with significant customers, see Note 17C . With respect to our investments, we monitor concentrations of credit risk associated with government, government agency, and corporate issuers of securities. Investments are placed in instruments that are investment grade and are primarily short in duration. Exposure limits are established to limit a concentration with any single credit counterparty. As of December 31, 2024, the largest investment exposures in our portfolio consisted primarily of U.S. government money market funds, as well as sovereign debt instruments issued by the U.S., Canada, and the U.K. With respect to our derivative financial instrument agreements with financial institutions, we do not expect to incur a significant loss from failure of any counterparty. Derivative financial instruments are executed under International Swaps and Derivatives Association master agreements with credit-support annexes that contain zero threshold provisions requiring collateral to be exchanged daily depending on levels of exposure. As a result, there are no significant concentrations of credit risk with any individual financial institution. As of December 31, 2024, the aggregate fair value of these derivative financial instruments that are in a net payable position was $741 million, for which we have posted collateral of $720 million with a corresponding amount reported in Short-term investments . As of December 31, 2024, the aggregate fair value of our derivative financial instruments that are in a net receivable position was $594 million, for which we have received collateral of $716 million with a corresponding amount reported in Short-term borrowings, including current portion of long-term debt.

Other Financial Information

Other Financial Information	12 Months Ended
	Dec. 31, 2024
Other Financial Information [Abstract]
Other Financial Information	Other Financial Information A. Inventories The following summarizes the components of Inventories : As of December 31, (MILLIONS) 2024 2023 Finished goods $ 3,775 $ 3,495 Work-in-process 6,101 5,688 Raw materials and supplies 976 1,007 Inventories (a) $ 10,851 $ 10,189 Noncurrent inventories not included above (b) $ 2,663 $ 4,568 (a) The increase from December 31, 2023 reflects higher inventory levels for certain products mainly due to changes in net market demand, network strategy and new product launches. (b) Included in Other noncurrent assets . The decrease from December 31, 2023 is primarily driven by a reduction in acquired Seagen inventory, inclusive of the acquisition accounting fair value step up. See Note 2A . Based on our current estimates and assumptions, there are no recoverability issues for these amounts. B. Other Current Liabilities Other current liabilities include, among other things, amounts payable to BioNTech for the gross profit split for Comirnaty, which totaled $1.3 billion as of December 31, 2024 and $2.0 billion as of December 31, 2023. C. Supplier Finance Program Obligation We maintain voluntary supply chain finance agreements with several participating financial institutions. Under these agreements, participating suppliers may voluntarily elect to sell their accounts receivable with Pfizer to these financial institutions. Our suppliers negotiate their financing agreements directly with the respective financial institutions and we are not a party to these agreements. We have no economic interest in our suppliers’ decision to participate and we pay the financial institutions the stated amount of confirmed invoices on the original maturity dates, which is generally within 90 to 120 days of the invoice date. The agreements with the financial institutions do not require Pfizer to provide assets pledged as security or other forms of guarantees for the supplier finance program. All outstanding amounts related to suppliers participating in such financing arrangements are recorded within trade payables The following summarizes the changes in outstanding trade payables to suppliers who participate in these financing arrangements for the year ended December 31, 2024 (MILLIONS) Total Confirmed obligations outstanding, December 31, 2023 $ 791 Invoices confirmed during the year 2,638 Confirmed invoices paid during the year (2,740) Confirmed obligations outstanding, December 31, 2024 $ 688

Property, Plant and Equipment,

Property, Plant and Equipment, Net	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net The following summarizes the components of Property, plant and equipment, net : Useful Lives As of December 31, (MILLIONS) (Years) 2024 2023 Land - $ 291 $ 353 Buildings 33-50 9,036 9,046 Machinery and equipment 8-20 15,095 14,263 Furniture, fixtures and other 3-12.5 5,516 5,399 Construction in progress - 4,937 5,925 34,876 34,985 Less: Accumulated depreciation 16,483 16,045 Property, plant and equipment, net $ 18,393 $ 18,940 The following provides Property, plant and equipment, net by geographic area: As of December 31, (MILLIONS) 2024 2023 United States $ 9,748 $ 10,674 International: Developed Markets 7,187 6,713 Emerging Markets 1,458 1,554 Property, plant and equipment, net $ 18,393 $ 18,940

Identifiable Intangible Assets,

Identifiable Intangible Assets, Net and Goodwill	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Identifiable Intangible Assets, Net and Goodwill	Identifiable Intangible Assets, Net and Goodwill A. Identifiable Intangible Assets The following summarizes the components of Identifiable intangible assets : As of December 31, 2024 As of December 31, 2023 (MILLIONS) Gross Accumulated Identifiable Gross Accumulated Identifiable Intangible Assets, Net Finite-lived intangible assets Developed technology rights (a) $ 99,397 $ (65,044) $ 34,353 $ 99,267 $ (60,493) $ 38,773 Brands (b) 1,277 (992) 285 922 (877) 45 Licensing agreements and other 2,724 (1,513) 1,210 2,756 (1,458) 1,297 103,397 (67,549) 35,848 102,944 (62,828) 40,116 Indefinite-lived intangible assets Brands (b) — — 827 827 IPR&D (c) 18,893 18,893 23,193 23,193 Licensing agreements and other 670 670 763 763 19,563 19,563 24,784 24,784 Identifiable intangible assets (d) $ 122,961 $ (67,549) $ 55,411 $ 127,728 $ (62,828) $ 64,900 (a) The increase in the gross carrying amount includes $740 million of measurement period adjustments related to our acquisition of Seagen (see Note 2A ) and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna), partially offset by impairments of $943 million (see Note 4 ). (b) The changes in the gross carrying amounts reflect the transfer of $827 million from indefinite-lived brands to finite-lived brands for Medrol, partially offset by impairments of $475 million in finite-lived brands (see Note 4 ). (c) The decrease in the gross carrying amount reflects impairments of $1.9 billion (see Note 4 ), $1.7 billion of measurement period adjustments related to our acquisition of Seagen (see Note 2A ), and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna). (d) The decrease is primarily due to amortization expense of $5.3 billion, impairments of $3.3 billion (see Note 4 ) and measurement period adjustments related to our acquisition of Seagen of $950 million (see Note 2A ). Developed Technology Rights–– Developed technology rights represent the cost for developed technology acquired from third parties and can include the right to develop, use, market, sell and/or offer for sale the product, compounds and intellectual property that we have acquired with respect to products, compounds and/or processes that have been completed. We possess a well-diversified portfolio of hundreds of developed technology rights across therapeutic categories, representing our commercialized products. The significant components of developed technology rights are the following: Nurtec ODT/Vydura, Adcetris, Padcev, Xtandi, Velsipity and Braftovi/Mektovi. Also included in this category are the post-approval milestone payments made under our alliance agreements for certain prescription pharmaceutical products. Brands–– Brands represent the cost for tradenames and know-how, as the products themselves do not receive patent protection. The significant components of Finite-lived brands primarily include Medrol. IPR&D–– IPR&D assets represent the acquisition date fair value (less impairments) of R&D assets acquired through business combinations that have not yet received regulatory approval in a major market which could include both new investigational products and additional indications for in-line products. The significant components of IPR&D are SGN-B6A, disitamab vedotin, GBT601 and Tukysa. IPR&D assets are required to be classified as indefinite-lived assets until the successful completion or the abandonment of the associated R&D effort. Accordingly, during the development period after the date of acquisition, these assets are not amortized until approval is obtained in a major market, typically either the U.S. or the EU, or in a series of other countries, subject to certain specified conditions and management judgment. At that time, we will determine the useful life of the asset, reclassify it out of IPR&D and begin amortization. If the associated R&D effort is abandoned, the related IPR&D assets will be written-off, and we will record an impairment charge. IPR&D assets are high-risk assets, given the uncertain nature of R&D. Accordingly, IPR&D assets may become impaired and/or be written-off in the future. Licensing Agreements–– Licensing agreements for developed technology and for technology in development primarily relate to out-licensing arrangements acquired from third parties, including from acquisitions. These assets represent the cost for the license, where we acquired the right to future royalties and/or milestones upon development or commercialization by the licensing partners. Accordingly, during the development period after the date of acquisition, each of these assets is classified as indefinite-lived intangible assets and will not be amortized until approval is obtained in a major market. At that time we will determine the useful life of the asset, reclassify the respective licensing arrangement asset to finite-lived intangible asset and begin amortization. If the development effort is abandoned, the related licensing asset will be written-off, and we will record an impairment charge. Amortization–– The weighted-average life for our total finite-lived intangible assets and for the largest component, developed technology rights, is approximately 10 years. The following provides the expected annual amortization expense: (MILLIONS) 2025 2026 2027 2028 2029 Amortization expense $ 4,838 $ 4,716 $ 4,125 $ 3,776 $ 2,829 B. Goodwill The following summarizes the changes in the carrying amount of Goodwill : (MILLIONS) Total (a) Balance, January 1, 2023 $ 51,375 Additions (b) 16,117 Impact of foreign exchange and other 292 Balance, December 31, 2023 67,783 Additions (b) 1,022 Impact of foreign exchange (278) Balance, December 31, 2024 $ 68,527 (a) As a result of the organizational changes to the commercial structure within the Biopharma operating segment effective in the first quarter of 2024 (see Note 17A ), our goodwill was required to be reallocated amongst impacted reporting units. The allocation of goodwill is a complex process that requires, among other things, that we determine the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. We completed the re-allocation during the fourth quarter of 2024 and concluded that none of our goodwill was impaired. All goodwill continues to be assigned within the Biopharma reportable segment. (b) Additions primarily represent our acquisition of Seagen in 2023 and measurement period adjustments related to our acquisition of Seagen in 2024 (see Note 2A ) .

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans and Defined Contribution Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Pension and Postretirement Benefit Plans and Defined Contribution Plans	Pension and Postretirement Benefit Plans and Defined Contribution Plans The majority of our employees worldwide are eligible for retirement benefits provided through defined benefit pension plans, defined contribution plans or both. In the U.S., we sponsor both IRC-qualified and supplemental (non-qualified) defined benefit plans and defined contribution plans. A qualified plan meets the requirements of certain sections of the IRC, and, generally, contributions to qualified plans are tax deductible. A qualified plan typically provides benefits to a broad group of employees with restrictions on discriminating in favor of highly compensated employees with regard to coverage, benefits and contributions. A supplemental (non-qualified) plan provides additional benefits to certain employees. In addition, we provide medical insurance benefits to certain retirees and their eligible dependents through our postretirement plans. A. Components of Net Periodic Benefit Cost/(Credit) and Changes in Other Comprehensive Income/(Loss) Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Service cost $ — $ — $ — $ 87 $ 85 $ 116 $ 14 $ 12 $ 29 Interest cost 553 589 534 312 287 157 23 21 27 Expected return on plan assets (832) (778) (862) (322) (304) (296) (51) (44) (47) Amortization of prior service cost/(credit) 1 2 2 4 — (1) (113) (119) (130) Actuarial (gains)/losses (a) 396 (410) 225 33 102 (11) 144 51 (440) Curtailments — — — (4) (2) (11) — (12) (18) Special termination benefits — 6 18 10 — 1 — — 1 Net periodic benefit cost/(credit) reported in income 117 (592) (84) 120 169 (45) 18 (90) (578) Cost/(credit) reported in Other comprehensive income/(loss) (1) (2) (2) (4) 31 (1) (80) 128 169 Cost/(credit) recognized in Comprehensive income $ 116 $ (594) $ (86) $ 117 $ 199 $ (46) $ (62) $ 38 $ (410) (a) Reflects: (i) actuarial remeasurement net losses in 2024, primarily due to unfavorable asset performance for the U.S. pension plans and decreases in discount rates for the international pension plans, partially offset by increases in discount rates for the U.S. pension plans and favorable asset performance for the international pension plans and postretirement plans, (ii) actuarial remeasurement net gains in 2023, primarily due to favorable asset performance in the U.S. and increases in discount rates for the international plans, partially offset by unfavorable asset performance for certain international plans, and (iii) actuarial remeasurement net gains in 2022, primarily due to increases in discount rates, partially offset by unfavorable asset performance. The components of net periodic benefit cost/(credit) other than the service cost component are included in Other (income)/deductions––net (see Note 4 ). B. Actuarial Assumptions Pension Plans Postretirement Plans U.S. International Year Ended December 31, (PERCENTAGES) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Weighted-average assumptions used to determine net periodic benefit cost: Discount rate: Pension plans/postretirement plans 5.4 % 5.4 % 2.9 % 5.4 % 5.5 % 2.9 % Interest cost 4.4 % 3.8 % 1.5 % Service cost 3.9 % 3.6 % 1.7 % Expected return on plan assets 8.0 % 7.5 % 6.3 % 5.1 % 4.5 % 3.1 % 8.0 % 7.5 % 6.3 % Rate of compensation increase (a) 3.2 % 3.0 % 2.8 % Weighted-average assumptions used to determine benefit obligations at fiscal year-end: Discount rate 5.7 % 5.4 % 5.4 % 4.1 % 4.4 % 3.8 % 5.5 % 5.4 % 5.5 % Rate of compensation increase (a) 3.1 % 3.2 % 3.0 % (a) The rate of compensation increase is not used to determine the net periodic benefit cost and benefit obligation for the U.S. pension plans as these plans are frozen. The assumptions are reviewed at least annually. We revise these assumptions based on an annual evaluation of long-term trends as well as market conditions that may have an impact on the cost of providing retirement benefits. The weighted-average discount rate for our U.S. defined benefit plans is set with reference to the prevailing market rate of a portfolio of high-quality fixed income investments, rated AA/Aa or better that reflect the rates at which the pension benefits could be effectively settled. For our international plans, the discount rates are set by benchmarking against investment grade corporate bonds rated AA/Aa or better, including, when there is sufficient data, a yield curve approach. These rate determinations are made consistent with local requirements. Overall, the yield curves used to measure the benefit obligations at year-end 2024 resulted in higher discount rates for the U.S. pension plans and lower discount rates for the international pension plans as compared to the prior year. The following provides the healthcare cost trend rate assumptions for our U.S. postretirement benefit plans: As of December 31, 2024 2023 Healthcare cost trend rate assumed for next year 7.5 % 7.9 % Rate to which the cost trend rate is assumed to decline 4.0 % 4.0 % Year that the rate reaches the ultimate trend rate 2047 2047 C. Obligations and Funded Status The following provides: (i) an analysis of the changes in our benefit obligations, plan assets and funded status of our benefit plans, (ii) the funded status recognized in our consolidated balance sheets and (iii) the pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Change in benefit obligation (a) Benefit obligation, beginning $ 10,756 $ 11,420 $ 7,292 $ 7,497 $ 450 $ 410 Service cost — — 87 85 14 12 Interest cost 553 589 312 287 23 21 Employee contributions — — 16 11 61 52 Plan amendments — — — 25 (193) — Changes in actuarial assumptions and other (b) (299) (127) 119 (518) 199 96 Foreign exchange impact (1) — (106) 280 (2) (1) Acquisitions/divestitures, net — — 77 13 — — Curtailments and special termination benefits — 6 7 — — (3) Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Benefit obligation, ending (a) 9,781 10,756 7,363 7,292 486 450 Change in plan assets Fair value of plan assets, beginning 10,935 10,871 6,552 6,865 636 647 Actual return on plan assets 138 1,061 408 (316) 105 89 Company contributions 103 134 164 154 — (15) Employee contributions — — 16 11 61 52 Foreign exchange impact — — (65) 214 — — Acquisitions/divestitures, net — — 62 13 — — Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Fair value of plan assets, ending 9,948 10,935 6,696 6,552 736 636 Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Amounts recorded in our consolidated balance sheet: Noncurrent assets $ 934 $ 1,010 $ 728 $ 644 $ 330 $ 266 Current liabilities (90) (94) (31) (28) (5) (6) Noncurrent liabilities (678) (738) (1,364) (1,355) (74) (74) Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Prior service (costs)/credits $ (2) $ (2) $ (61) $ (65) $ 365 $ 285 Information related to the funded status of pension plans with an ABO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 456 $ 579 ABO 768 831 1,752 1,834 Information related to the funded status of pension plans with a PBO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 690 $ 964 PBO 768 831 2,084 2,347 (a) For the U.S. pension plans, the benefit obligation is both the PBO and ABO as these plans are frozen and future benefit accruals no longer increase with future compensation increases. For the international pension plans, the benefit obligation is the PBO. The ABO for our international pension plans was $7.1 billion in 2024 and $7.0 billion in 2023. For the postretirement plans, the benefit obligation is the ABO. (b) For 2024, primarily includes actuarial losses resulting from decreases in discount rates for the international pension plans, and other assumption changes for the postretirement plans, largely offset by actuarial gains resulting from increases in discount rates for the U.S. pension plans. For 2023, primarily included actuarial gains resulting from increases in discount rates for the international pension plans. (c) Our U.S. qualified plan, U.S. postretirement plan and many of our larger funded international plans were overfunded as of December 31, 2024. D. Plan Assets The following provides the components of plan assets: As of December 31, 2024 As of December 31, 2023 Fair Value Fair Value (MILLIONS EXCEPT TARGET ALLOCATION PERCENTAGE) Target Allocation Percentage Total Level 1 Level Level 3 Assets Measured at NAV (a) Total Level 1 Level Level 3 Assets Measured at NAV (a) U.S. pension plans Cash and cash equivalents 0-10% $ 533 $ 56 $ 477 $ — $ — $ 606 $ 47 $ 559 $ — $ — Equity securities: 10-40% Global equity securities 1,341 1,341 — — — 1,537 1,537 — 1 — Equity commingled funds 97 — 97 — — 100 — 100 — — Fixed income securities: 45-80% Corporate debt securities 2,878 4 2,874 — — 3,668 1 3,667 — — Government and agency obligations (b) 2,059 — 2,059 — — 1,971 — 1,971 — — Fixed income commingled funds 42 — 12 — 30 25 — 14 — 11 Other investments: 5-35% Partnership investments (c) 2,665 — — — 2,665 2,449 — — — 2,449 Insurance contracts — — — — — 99 — 99 — — Other commingled funds (d) 333 — — — 333 479 — — — 479 Total 100 % $ 9,948 $ 1,401 $ 5,518 $ — $ 3,028 $ 10,935 $ 1,585 $ 6,410 $ 1 $ 2,939 International pension plans Cash and cash equivalents 0-10% $ 310 $ 138 $ 172 $ — $ — $ 268 $ 120 $ 148 $ — $ — Equity securities: 10-20% Equity commingled funds 704 — 619 — 86 633 — 587 — 46 Fixed income securities: 45-70% Corporate debt securities 638 — 633 5 — 617 — 617 — — Government and agency obligations (b) 960 1 960 — — 848 — 848 — — Fixed income commingled funds 1,750 — 1,064 — 686 1,852 — 872 — 980 Other investments: 15-35% Partnership investments (c) 147 — 2 — 145 145 — 2 — 142 Insurance contracts 1,221 — 45 1,176 — 1,151 — 55 1,096 — Other (d) 965 35 147 252 531 1,039 — 167 244 628 Total 100 % $ 6,696 $ 174 $ 3,642 $ 1,433 $ 1,447 $ 6,552 $ 120 $ 3,295 $ 1,340 $ 1,796 U.S. postretirement plans (e) Cash and cash equivalents 0-5% $ 12 $ — $ 12 $ — $ — $ 3 $ 1 $ 2 $ — $ — Insurance contracts 95-100% 724 — 724 — — 633 — 633 — — Total 100 % $ 736 $ — $ 736 $ — $ — $ 636 $ 1 $ 635 $ — $ — (a) Certain investments that are measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The NAV amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefits plan assets. (b) Government and agency obligations are inclusive of repurchase agreements. (c) Mainly includes investments in private equity, private debt and real estate. (d) Mostly includes investments in hedge funds and real estate. (e) Reflects postretirement plan assets, which support our U.S. retiree medical plans. The following provides an analysis of the changes in our more significant investments valued using significant unobservable inputs: International Pension Plans Year Ended December 31, (MILLIONS) 2024 2023 Fair value, beginning $ 1,340 $ 1,455 Actual return on plan assets: Assets held, ending 8 (96) Assets sold during the period — (3) Purchases, sales, and settlements, net (79) (155) Transfer into/(out of) Level 3 168 81 Exchange rate changes (5) 59 Fair value, ending $ 1,433 $ 1,340 The following methods and assumptions were used to estimate the fair value of our pension and postretirement plans’ assets: • Cash and cash equivalents: Level 1 investments may include cash, cash equivalents and foreign currency valued using exchange rates. Level 2 investments may include short-term investment funds which are commingled funds priced at a stable NAV by the administrator of the funds. • Equity securities: Level 1 investments may include individual securities that are valued at the closing price or last trade reported on the major market on which they are traded. Level 1 and Level 2 investments may include commingled funds that have a readily determinable fair value based on quoted prices on an exchange or a published NAV derived from the quoted prices in active markets of the underlying securities. Level 3 investments may include individual securities that are unlisted, delisted, suspended, or illiquid and are typically valued using their last available price. • Fixed income securities: Level 1 investments may include individual securities that are valued at the closing price or last trade reported on the major market on which they are traded. Level 2 investments may include commingled funds that have a readily determinable fair value based on observable prices of the underlying securities. Level 2 investments may include corporate bonds, government and government agency obligations and other fixed income securities valued using bid evaluation pricing models or quoted prices of securities with similar characteristics. Level 3 investments may include securities that are valued using alternative pricing sources, such as investment managers or brokers, which use proprietary pricing models that incorporate unobservable inputs. • Other investments: Level 1 investments may include individual securities that are valued at the closing price or last trade reported on the major market on which they are traded. Level 2 investments may include insurance contracts which invest in interest bearing cash, U.S. government securities and corporate debt instruments. Level 3 investments may include securities or insurance contracts that are valued using alternative pricing sources, such as investment managers or brokers, which use proprietary pricing models that incorporate unobservable inputs. Equity securities, Fixed income securities and Other investments may each be combined into commingled funds. Most commingled funds are valued to reflect the interest in the fund based on the reported year-end NAV. Partnership and Other investments are valued based on year-end reported NAV (or its equivalent), with adjustments as appropriate for lagged reporting of up to three months. Certain investments are authorized to include derivatives, such as equity or bond futures, swaps, options and currency futures or forwards for managing risks and exposures. Global plan assets are managed with the objective of generating returns that will enable the plans to meet their future obligations, while seeking to manage net periodic benefit costs and cash contributions over the long-term. We utilize long-term asset allocation ranges in the management of our plans’ invested assets. Our long-term return expectations are developed based on a diversified, global investment strategy that takes into account historical experience, as well as the impact of portfolio diversification, active portfolio management, and our view of current and future economic and financial market conditions. As market conditions and other factors change, we may adjust our targets accordingly and our asset allocations may vary from the target allocations. E. Cash Flows It is our practice to fund amounts for our qualified pension plans that are at least sufficient to meet the minimum requirements set forth in applicable employee benefit laws and local tax laws. The following provides the expected future cash flow information related to our benefit plans: Pension Plans Postretirement Plans (MILLIONS) U.S. International Expected employer contributions: 2025 $ 90 $ 144 $ 40 Expected benefit payments: 2025 $ 871 $ 384 $ 44 2026 858 366 47 2027 844 384 49 2028 825 385 50 2029 815 392 50 2030–2034 3,760 2,067 245 The above table reflects the total U.S. and international plan benefits projected to be paid from the plans or from our general assets under the current actuarial assumptions used for the calculation of the benefit obligation. F. Defined Contribution Plans We have defined contribution plans in the U.S. and other countries. For the majority of the U.S. defined contribution plans, employees may contribute a portion of their salaries and bonuses to the plans, and we match, in cash, a portion of the employee contributions. We also offer a Retirement Savings Contribution which is an annual non-contributory employer contribution in the U.S. and Puerto Rico. We recorded charges related to the employer contributions to global defined contribution plans of $800 million in 2024, $843 million in 2023 and $770 million in 2022.

Equity

Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Equity	Equity A. Common Stock Purchases We have authorization to purchase our common stock through privately negotiated transactions or in the open market as circumstances and prices warrant. Purchased shares under a share-purchase plan, which is authorized by our BOD, are available for general corporate purposes. In December 2018, the BOD authorized a $10 billion share repurchase program to be utilized over time and share repurchases commenced thereunder in the first quarter of 2019. In the first quarter of 2022, we purchased 39 million shares of our common stock at a cost of $2 billion under our publicly announced share-purchase plan. Our remaining share-purchase authorization was $3.3 billion as of December 31, 2024. B. Preferred Stock We have 27 million authorized shares of preferred stock without par value; no shares were issued or outstanding as of December 31, 2024 and 2023. C. Employee Stock Ownership Plans We have one ESOP that holds common stock of the Company (Common ESOP). As of December 31, 2024, all shares of common stock held by the Common ESOP have been allocated to the Pfizer U.S. defined contribution plan participants. The compensation cost related to the Common ESOP was $16 million for 2024, $20 million for 2023 and $19 million for 2022.

Share-Based Payments

Share-Based Payments	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Payments	Share-Based Payments Our compensation programs can include share-based payment awards with value that is determined by reference to the fair value of our shares and that provide for the grant of shares or options to acquire shares or similar arrangements. Our share-based awards are designed based on competitive survey data or industry peer groups used for compensation purposes, and are allocated between different long-term incentive awards, generally in the form of Total Shareholder Return Units (TSRUs), Restricted Stock Units (RSUs), Portfolio Performance Shares (PPSs), Performance Share Awards (PSAs), Breakthrough Performance Awards (BPAs) and stock options, as determined by the Compensation Committee of our BOD. No BPAs were granted in 2024 and no BPAs were outstanding as of December 31, 2024. The Amended and Restated 2019 Stock Plan (2019 Plan) replaced and superseded the original 2019 Stock Plan. The 2019 Plan provides for 320 million shares to be authorized for grants plus any shares remaining available for grant under the original 2019 Stock Plan as of April 25, 2024 (the carryforward shares). The RSUs count as three shares, and PPSs, PSAs and BPAs count as three shares times the maximum potential payout, while TSRUs and stock options count as one share, toward the maximum shares available under the 2019 Plan. As of December 31, 2024, 441 million shares were available for award. Although not required to do so, we have used authorized and unissued shares and, to a lesser extent, treasury stock to satisfy our obligations under these programs. A summary of the awards and valuation details: Awarded to Terms Valuation Recognition and Presentation Total Shareholder Return Units (TSRUs) Senior and other key management and select employees • Entitle the holder to receive shares of our common stock with a value equal to the difference between the defined settlement price and the grant price, plus the dividend equivalents accumulated during the five seven • Settlement price is the average closing price of our common stock during the 20 trading days ending on the fifth or seventh anniversary of the grant, as applicable; the grant price is the closing price of our common stock on the date of the grant. • Automatically settle on the fifth or seventh anniversary of the grant but vest on the third anniversary of the grant. Certain 2022 and 2023 five-year grants were modified during 2024 (for active colleagues) to vest on the fifth anniversary and settle on the seventh anniversary of the grant. • Retirement-eligible holders can convert their TSRUs, when vested, into Profit Units (PTUs) with a conversion ratio based on a calculation used to determine the shares at TSRU settlement. The PTUs are entitled to earn Dividend Equivalent Units (DEUs), and the PTUs and DEUs will be settled in our common stock on the TSRUs’ original settlement date and will be subject to the terms and conditions of the original grant including forfeiture provisions. As of the grant date using a Monte Carlo simulation model Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate. Restricted Stock Units (RSUs) Select employees • Entitle the holder to receive a specified number of shares of our common stock, including dividend equivalents that are reinvested into additional RSUs. • For RSUs granted before 2022, generally in all instances, the units vest on the third anniversary of the grant date assuming continuous service from the grant date. Beginning in 2022, generally in all instances, the units vest and distribute one-third per year for three As of the grant date using the closing price of our common stock Amortized on a straight-line basis for RSUs granted before 2022, and on an accelerated attribution approach for RSUs granted beginning in 2022, over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate. Portfolio Performance Shares (PPSs) Select employees • Entitle the holder to receive, at the end of the performance period, shares of our common stock, if any, including shares resulting from dividend equivalents earned on such shares. • For PPSs granted, the awards vest on the third anniversary of the grant assuming continuous service from the grant date and the number of shares paid, if any, depends on the achievement of predetermined goals related to Pfizer’s long-term product portfolio during a three five • The number of shares that may be earned ranges from 0% to 200% of the initial award depending on goal achievement over the performance period. As of the grant date using the intrinsic value method using the closing price of our common stock Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses and/or Research and development expenses , as appropriate, and adjusted each reporting period, as necessary, to reflect changes in the price of our common stock, the number of shares that are probable of being earned, and management’s assessment of the probability that the specified performance criteria will be achieved. Performance Share Awards (PSAs) Senior and other key management • Entitle the holder to receive, at the end of the performance period, shares of our common stock (retirees) earned, if any, or an equal value in cash (active colleagues), including dividend equivalents on shares earned, dependent upon the achievement of predetermined goals related to two measures: a. Adjusted net income over three one b. TSR as compared to the NYSE ARCA Pharmaceutical Index (DRG Index) over the three • PSAs vest on the third anniversary of the grant assuming continuous service from the grant date. PSA awards granted in 2022 and 2023 were modified during 2024 (for active colleagues) to vest on the fifth anniversary of the grant. • The award that may be earned ranges from 0% to 200% of the target award depending on goal achievement over the performance period. As of the grant date using the intrinsic value method using the closing price of our common stock Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate, and adjusted each reporting period, as necessary, to reflect changes in the price of our common stock, the number of shares that are probable of being earned and management’s assessment of the probability that the specified performance criteria will be achieved. Awarded to Terms Valuation Recognition and Presentation Breakthrough Performance Awards (BPAs) Select employees identified as instrumental in delivering medicines to patients (excluding executive officers) • Entitle the holder to receive, at the end of the performance period, shares of our common stock, if any, including shares resulting from dividend equivalents earned on such shares. • For BPAs granted, the awards, if earned/vested, are settled at the end of the performance period, but no earlier than the one • The number of shares that may be earned ranges from 0% to 600% of the target award depending on the level and timing of goal achievement over the performance period. As of the grant date using the intrinsic value method using the closing price of our common stock Amortized on a straight-line basis over the probable vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate, and adjusted each reporting period, as necessary, to reflect changes in the price of our common stock, the number of shares that are probable of being earned and management’s assessment of the probability that the specified performance criteria will be achieved and/or management’s assessment of the probable vesting term. Stock Options Select employees • Entitle the holder to purchase a specified number of shares of our common stock at a price per share equal to the closing market price of our common stock on the date of grant, for a period of time when vested. • Since 2016, only a limited set of non-U.S. employees received stock option grants. No stock options were awarded to senior and other key management in any period presented. • Stock options vest on the third anniversary of the grant assuming continuous service from the grant date and have a contractual term of 10 years. As of the grant date using the Black-Scholes-Merton option-pricing model Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate. The following provides data related to all TSRU, RSU, PPS, PSA and stock option activity: (MILLIONS, EXCEPT FAIR VALUE OF SHARES VESTED PER TSRU AND STOCK OPTION AND YEARS) TSRUs RSUs PPSs PSAs Stock Options Year Ended December 31, 2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022 Total fair value of shares vested (a) $7.05 $10.71 $11.72 $469 $505 $345 $176 $116 $145 $ — $58 $57 $4.08 $7.88 $9.44 Total intrinsic value of options exercised or share units converted $29 $755 $1,131 $123 $250 $280 $ — $102 $247 Cash received upon exercise $ — $181 $260 Tax benefits realized from exercise $ — $20 $46 Compensation cost recognized/(reduced), pre-tax $246 $244 $255 $394 $437 $402 $252 $(138) $144 $(21) $(5) $73 $4 $4 $4 Total compensation cost related to nonvested awards not yet recognized, pre-tax $270 $192 $179 $214 $212 $266 $107 $81 $135 $40 $22 $38 $4 $4 $3 Weighted-average period over which cost is expected to be recognized (years) 2.1 1.7 1.7 1.8 1.8 1.7 1.9 1.8 1.7 1.7 1.8 1.8 1.7 1.7 1.7 (a) Weighted-average GDFV per TSRUs and stock options. Total share-based payment expense was $877 million, $525 million and $872 million in 2024, 2023 and 2022, respectively. Tax benefit for share-based compensation expense was $165 million, $93 million and $160 million in 2024, 2023 and 2022, respectively. The table above excludes total expense due to the modification for share-based awards in connection with our cost reduction/productivity initiatives, which was not significant for all years presented and is recorded in Restructuring charges and certain acquisition-related costs (see Note 3 ). Amounts capitalized as part of inventory cost were not significant for any period presented. Summary of the weighted-average assumptions used in the valuation of TSRUs and stock options: TSRUs Stock Options Year Ended December 31, 2024 2023 2022 2024 2023 2022 Expected dividend yield (based on a constant dividend yield during the expected term) 6.06 % 3.80 % 3.42 % 6.06 % 3.80 % 3.42 % Risk-free interest rate (based on interpolated yield on U.S. Treasury zero-coupon issues) 4.31 % 4.08 % 1.87 % 4.32 % 4.03 % 1.93 % Expected stock price volatility (based on implied volatility, after consideration of historical volatility) 26.56 % 23.23 % 29.20 % 26.56 % 23.23 % 29.21 % TSRUs contractual/stock options expected term, years (based on historical exercise and post-vesting termination patterns for stock options) 5.15 5.15 5.17 6.50 6.50 6.50 Summary of all TSRU, RSU, PPS and PSA activity during 2024 (with the shares granted representing the maximum award that could be achieved for PPSs and PSAs): TSRUs RSUs PPSs (a) PSAs TSRUs Per TSRU, Weighted Average Shares Weighted Avg. GDFV per share Shares Weighted Avg. Intrinsic Value per share Shares Weighted Avg. Intrinsic Value per share (Thousands) GDFV Grant Price (Thousands) (Thousands) (Thousands) Nonvested, December 31, 2023 77,673 $ 9.67 $ 39.92 25,844 $ 40.08 22,225 $ 28.79 4,734 $ 28.79 Granted 43,674 7.05 26.90 17,073 26.97 13,535 26.92 2,597 26.89 Vested (31,076) 7.42 33.87 (16,874) 37.89 (6,329) 27.76 — — Reinvested dividend equivalents 1,541 28.17 Forfeited (5,370) 8.66 33.90 (2,024) 32.20 (3,274) 28.03 (1,810) 27.79 Nonvested, December 31, 2024 84,902 $ 9.63 $ 35.87 25,561 $ 32.67 26,156 $ 26.53 5,521 $ 26.53 (a) Vested and non-vested shares outstanding, but not paid as of December 31, 2024 were 33.9 million. Summary of TSRU and PTU information as of December 31, 2024 (a), (b) : TSRUs (Thousands) PTUs (Thousands) Weighted-Average Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Millions) (c) TSRUs Outstanding 167,977 $ 34.17 2.5 $ 122 TSRUs Vested 83,075 32.44 0.7 86 TSRUs Expected to vest (d) 80,014 $ 35.93 4.3 34 Outstanding PTUs converted from TSRUs exercised 586 0.2 $ 16 (a) In 2024, we settled 2,419,674 TSRUs with a weighted-average grant price of $27.76 per unit. (b) In 2024, 1,150,382 TSRUs with a weighted-average grant price of $31.54 per unit were converted into 100,307 PTUs. (c) Market price of our underlying common stock less grant price plus dividend equivalents to date. (d) The number of TSRUs expected to vest takes into account an estimate of expected forfeitures. Summary of all stock option activity during 2024: Shares (Thousands) Weighted-Average Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (a) (Millions) Outstanding, December 31, 2023 28,452 $ 32.66 Granted 1,372 26.90 Exercised (4) 29.06 Forfeited (235) 33.52 Expired (9,964) 30.69 Outstanding, December 31, 2024 19,621 33.24 1.9 $ — Vested and expected to vest, December 31, 2024 (b) 19,510 33.26 1.9 — Exercisable, December 31, 2024 17,447 $ 33.12 1.1 $ — (a) Market price of our underlying common stock less exercise price. (b) The number of options expected to vest takes into account an estimate of expected forfeitures.

Earnings Per Common Share Attri

Earnings Per Common Share Attributable to Pfizer Inc. Common Shareholders	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share Attributable to Pfizer Inc. Common Shareholders	Earnings Per Common Share Attributable to Pfizer Inc. Common Shareholders The following presents the detailed calculation of EPS: Year Ended December 31, (MILLIONS) 2024 2023 2022 EPS Numerator Income from continuing operations attributable to Pfizer Inc. common shareholders $ 8,020 $ 2,134 $ 31,366 Discontinued operations––net of tax 11 (15) 6 Net income attributable to Pfizer Inc. common shareholders $ 8,031 $ 2,119 $ 31,372 EPS Denominator Weighted-average common shares outstanding––Basic 5,664 5,643 5,608 Common-share equivalents 36 66 125 Weighted-average common shares outstanding––Diluted 5,700 5,709 5,733 Anti-dilutive common stock equivalents (a) 24 9 1 (a) These common stock equivalents were outstanding for the periods presented, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases We lease real estate, fleet, and equipment for use in our operations. Our leases generally have lease terms of 1 to 30 years, some of which include options to terminate or extend leases for up to 5 to 10 years or on a month-to-month basis. We include options that are reasonably certain to be exercised as part of the determination of lease terms. We may negotiate termination clauses in anticipation of any changes in market conditions, but generally these termination options have not been exercised. Residual value guarantees are generally not included within our operating leases with the exception of some fleet leases. In addition to base rent payments, the leases may require us to pay directly for taxes and other non-lease components, such as insurance, maintenance and other operating expenses, which may be dependent on usage or vary month-to-month. Variable lease payments amounted to $517 million in 2024, $444 million in 2023 and $536 million in 2022. We elected the practical expedient to not separate non-lease components from lease components in calculating the amounts of ROU assets and lease liabilities for all underlying asset classes. We determine if an arrangement is a lease at inception of the contract and we perform the lease classification test as of the lease commencement date. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. For operating leases, the ROU assets and liabilities in our consolidated balance sheets follows: As of December 31, (MILLIONS) Balance Sheet Classification 2024 2023 ROU assets Other noncurrent assets $ 2,289 $ 2,924 Lease liabilities (short-term) Other current liabilities 356 527 Lease liabilities (long-term) Other noncurrent liabilities 2,286 2,626 Components of total lease cost includes: Year Ended December 31, (MILLIONS) 2024 2023 2022 Operating lease cost $ 683 $ 863 $ 714 Variable lease cost 517 444 536 Sublease income (23) (24) (32) Total lease cost $ 1,177 $ 1,283 $ 1,218 Other supplemental information follows: As of December 31, (MILLIONS) 2024 2023 Operating leases Weighted-Average Remaining Contractual Lease Term (Years) 10.2 10.8 Weighted-Average Discount Rate 3.7 % 3.8 % Year Ended December 31, (MILLIONS) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 601 $ 744 $ 617 (Gains)/losses on sale and leaseback transactions, net 29 (49) 11 The following reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded in the consolidated balance sheet as of December 31, 2024: (MILLIONS) Period Operating Lease Liabilities Next one year (a) $ 443 1-2 years 406 2-3 years 361 3-4 years 281 4-5 years 239 Thereafter 1,468 Total undiscounted lease payments 3,197 Less: Imputed interest 556 Present value of minimum lease payments 2,642 Less: Current portion 356 Noncurrent portion $ 2,286 (a)

Contingencies and Certain Commi

Contingencies and Certain Commitments	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Certain Commitments	Contingencies and Certain Commitments We and certain of our subsidiaries are subject to numerous contingencies arising in the ordinary course of business, including tax and legal contingencies, guarantees and indemnifications. The following outlines our legal contingencies, guarantees and indemnifications. For a discussion of our tax contingencies, see Note 5D . A. Legal Proceedings Our legal contingencies include, but are not limited to, the following: • Patent litigation, which typically involves challenges to the coverage and/or validity of patents on various products, processes or dosage forms. An adverse outcome could result in loss of patent protection for a product, a significant loss of revenues from a product or impairment of the value of associated assets. We are the plaintiff in the majority of these actions. • Product liability and other product-related litigation related to current or former products, which can include personal injury, consumer fraud, off-label promotion, securities, antitrust and breach of contract claims, among others, and often involves highly complex issues relating to medical causation, label warnings and reliance on those warnings, scientific evidence and findings, actual, provable injury and other matters. • Commercial and other asserted or unasserted matters, which can include acquisition-, licensing-, intellectual property-, collaboration- or co-promotion-related and product-pricing claims and environmental claims and proceedings, and can involve complexities that will vary from matter to matter. • Government investigations, which often are related to the extensive regulation of pharmaceutical companies by national, state and local government agencies in the U.S. and in other jurisdictions. Certain of these contingencies could result in increased expenses and/or losses, including damages, royalty payments, fines and/or civil penalties, which could be substantial, and/or criminal charges. We believe that our claims and defenses in matters in which we are a defendant are substantial, but litigation is inherently unpredictable and excessive verdicts do occur. We do not believe that any of these matters will have a material adverse effect on our financial position. However, we could incur judgments, enter into settlements or revise our expectations regarding the outcome of matters, which could have a material adverse effect on our results of operations and/or our cash flows in the period in which the amounts are accrued or paid. We have accrued for losses that are both probable and reasonably estimable. Substantially all of our contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. Consequently, we are unable to estimate the range of reasonably possible loss in excess of amounts accrued. Our assessments, which result from a complex series of judgments about future events and uncertainties, are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Amounts recorded for legal and environmental contingencies can result from a complex series of judgments about future events and uncertainties and can rely heavily on estimates and assumptions. For proceedings under environmental laws to which a governmental authority is a party, we have adopted a disclosure threshold of $1 million in potential or actual governmental monetary sanctions. The principal pending matters to which we are a party are discussed below. In determining whether a pending matter is a principal matter, we consider both quantitative and qualitative factors to assess materiality, such as, among others, the amount of damages and the nature of other relief sought, if specified; our view of the merits of the claims and of the strength of our defenses; whether the action purports to be, or is, a class action and, if not certified, our view of the likelihood that a class will be certified by the court; the jurisdiction in which the proceeding is pending; whether related actions have been transferred to multidistrict litigation; any experience that we or, to our knowledge, other companies have had in similar proceedings; whether disclosure of the action would be important to a reader of our financial statements, including whether disclosure might change a reader’s judgment about our financial statements in light of all of the information that is available to the reader; the potential impact of the proceeding on our reputation; and the extent of public interest in the matter. In addition, with respect to patent matters in which we are the plaintiff, we consider, among other things, the financial significance of the product protected by the patent(s) at issue. Some of the matters discussed below include those which management believes that the likelihood of possible loss in excess of amounts accrued is remote. A1. Legal Proceedings––Patent Litigation We are involved in suits relating to our patents (or those of our collaboration/licensing partners to which we have licenses or co-promotion rights), including but not limited to, those discussed below. We face claims by generic drug manufacturers that patents covering our products (or those of our collaboration/licensing partners to which we have licenses or co-promotion rights and to which we may or may not be a party), processes or dosage forms are invalid and/or do not cover the product of the generic drug manufacturer. Also, counterclaims, as well as various independent actions, have been filed alleging that our assertions of, or attempts to enforce, patent rights with respect to certain products constitute unfair competition and/or violations of antitrust laws. In addition to the challenges to the U.S. patents that are discussed below, patent rights to certain of our products or those of our collaboration/licensing partners are being challenged in various other jurisdictions. Some of our collaboration or licensing partners face challenges to the validity of their patent rights in non-U.S. jurisdictions. For example, in April 2022, the U.K. High Court issued a judgment finding invalid a BMS patent related to Eliquis due to expire in 2026. In May 2023, the Court of Appeal dismissed BMS’s appeal and in October 2023, the Supreme Court refused BMS permission to appeal. Additional challenges are pending in other jurisdictions. Also, in July 2022, CureVac AG (CureVac) brought a patent infringement action against BioNTech and certain of its subsidiaries in the German Regional Court alleging that Comirnaty infringes certain German utility model patents and certain expired and unexpired European patents. Additional challenges involving Comirnaty patents may be filed against us and/or BioNTech in other jurisdictions in the future. Adverse decisions in these matters could have a material adverse effect on our results of operations. We are also party to patent damages suits in various jurisdictions pursuant to which generic drug manufacturers, payors, governments or other parties are seeking damages from us for allegedly causing delay of generic entry. We also are often involved in other proceedings, such as inter partes review, post-grant review, re-examination or opposition proceedings, before the U.S. Patent and Trademark Office, the European Patent Office, or other foreign counterparts, as well as court proceedings relating to our intellectual property or the intellectual property rights of others, including challenges to such rights initiated by us. Also, if one of our patents (or one of our collaboration/licensing partner’s patents) is found to be invalid by such proceedings, generic or competitive products could be introduced into the market resulting in the erosion of sales of our existing products. For example, several of the patents in our pneumococcal vaccine portfolio have been challenged in inter partes review and post-grant review proceedings in the U.S. Patent and Trademark Office, as well as outside the U.S. The invalidation of any of the patents in our pneumococcal portfolio could potentially allow additional competitor vaccines, if approved, to enter the marketplace earlier than anticipated. In the event that any of the patents are found valid and infringed, a competitor’s vaccine, if approved, might be prohibited from entering the market or a competitor might be required to pay us a royalty. We are also subject to patent litigation pursuant to which one or more third parties seek damages and/or injunctive relief to compensate for alleged infringement of its patents by our commercial or other activities. If one of our marketed products (or a product of our collaboration/licensing partners to which we have licenses or co-promotion rights) is found to infringe valid patent rights of a third party, such third party may be awarded significant damages or royalty payments, or we may be prevented from further sales of that product. Such damages may be enhanced as much as three-fold if we or one of our subsidiaries is found to have willfully infringed valid patent rights of a third party. Actions In Which We Are The Plaintiff Xeljanz (tofacitinib) Beginning in 2017, we brought patent-infringement actions against several generic manufacturers that filed separate abbreviated new drug applications (ANDAs) with the FDA seeking approval to market their generic versions of tofacitinib tablets in one or both of 5 mg and 10 mg dosage strengths, and in both immediate and extended release forms. To date, we have settled actions with several manufacturers on terms not material to us. The remaining actions continue in the U.S. District Court for the District of Delaware as described below. In August 2024, we brought a patent infringement action against SpecGx LLC (SpecGX) asserting the infringement and validity of our composition of matter patent, covering immediate release formulations of tofacitinib that was challenged by SpecGX in its ANDA seeking approval to market a generic version of tofacitinib 5 mg and 10 mg immediate release tablets. In November 2024, we settled the action against SpecGX on terms not material to us. In October 2024, we brought a patent infringement action against Breckenridge Pharmaceutical, Inc. (Breckenridge) asserting the infringement and validity of our composition of patent, covering immediate release formulations of tofacitinib that was challenged by Breckenridge in its ANDA seeking approval to market a generic version of tofacitinib 10 mg immediate release tablets. In November 2024, we settled the action against Breckenridge on terms not material to us. In December 2024, we brought a patent infringement action against Alkem Laboratories Ltd. (Alkem) asserting the infringement and validity of our composition of matter patent, covering immediate release formulations of tofacitinib that was challenged by Alkem in its ANDA seeking approval to market a generic version of tofacitinib 5 mg and 10 mg immediate release tablets. Mektovi (binimetinib) Beginning in August 2022, two generic companies notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of Mektovi. The companies assert the invalidity and non-infringement of two method of use patents expiring in 2030, a method of use patent expiring in 2031, two method of use patents expiring in 2033, and a product by process patent expiring in 2033. Beginning in September 2022, we brought patent infringement actions against both of the generic filers in the U.S. District Court for the District of Delaware, asserting the validity and infringement of all six patents. In January 2025, we settled with one of the generic companies on terms not material to us. In August 2022, we received notice from Teva Pharmaceuticals, Inc. (Teva) that it had filed an ANDA seeking approval to market a generic version of Mektovi. Teva asserts the invalidity and non-infringement of two method of use patents expiring in 2033 and a product by process patent expiring in 2033. In June 2023, we brought a patent infringement action against Teva in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the three patents. Vyndaqel-Vyndamax (tafamidis/tafamidis meglumine) Beginning in June 2023, several generic companies notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of tafamidis capsules (61 mg) or tafamidis meglumine capsules (20 mg), challenging some or all of the patents listed in the FDA’s Orange Book for Vyndamax (tafamidis) and Vyndaqel (tafamidis meglumine). Scripps Research Institute (Scripps) owns the composition of matter patent and the method of treatment patents covering the products, and Pfizer is the exclusive licensee. Pfizer separately owns the crystalline form patent. Beginning in August 2023, we and Scripps brought patent infringement actions against the generic filers in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the patents in suit. Pfizer is the sole plaintiff in actions that assert only the infringement and validity of the crystalline form patent. Oxbryta (voxelotor) In January 2024, Zydus Pharmaceuticals (USA) Inc., Zydus Lifesciences Limited, and Zydus Worldwide DMCC (collectively, Zydus) and MSN Pharmaceuticals Inc. and MSN Laboratories Private Ltd. (collectively, MSN) separately notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of voxelotor tablets, challenging some of the patents listed in the FDA’s Orange Book for Oxbryta (voxelotor tablets in 300 mg and 500 mg strengths and/or for oral suspension) on non-infringement grounds. In March 2024, we filed patent infringement actions against both generic filers in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the challenged patents. Zydus and MSN have not challenged our composition of matter patents or method of treatment patents for Oxbryta. Nurtec (rimegepant) In April 2024, Rubicon Research Private Limited, Teva Pharmaceuticals, Inc., Changzhou Pharmaceutical Factory, Natco Pharma Limited and Natco Pharma, Inc., MSN, Aurobindo Pharma Limited, Apitoria Pharma Private Limited and Aurobindo Pharma U.S.A. Inc. (collectively, Aurobindo) and Apotex Inc. and Apotex Corp. (collectively, Apotex) notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of rimegepant orally disintegrating tablets, claiming noninfringement and/or challenging the validity of some or all of the patents listed in the FDA’s Orange Book for Nurtec (rimegepant orally disintegrating tablets Eq 75 mg base). In May 2024, we filed patent infringement actions against all the generic filers in the U.S. District Court for the District of Delaware. Xtandi (enzalutamide) Beginning in August 2024, several generic companies notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of Xtandi, challenging some or all of the patents listed in the FDA’s Orange Book for Xtandi. Beginning in August 2024, we brought patent infringement actions against the generic filers in the U.S. District Court for the District of New Jersey, asserting the validity and infringement of the patents in suit. Inlyta (axitinib) In October 2024, Sandoz Inc. (Sandoz) notified us that it had filed an ANDA with the FDA seeking approval to market a generic version of Inlyta. Sandoz asserts the invalidity and non-infringement of the crystalline form patent for Inlyta that expires in 2030. In November 2024, we filed suit against Sandoz in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the crystalline form patent for Inlyta. Actions in Which We are the Defendant Comirnaty (tozinameran) In March 2022, Alnylam Pharmaceuticals, Inc. (Alnylam) filed a complaint in the U.S. District Court for the District of Delaware against Pfizer and Pharmacia & Upjohn Company LLC, our wholly owned subsidiary, alleging that Comirnaty infringes a U.S. patent issued in February 2022, and seeking unspecified monetary damages. In July 2022, Alnylam filed a second complaint in the U.S. District Court for the District of Delaware against Pfizer, Pharmacia & Upjohn Company LLC, BioNTech and BioNTech Manufacturing GmbH, alleging that Comirnaty infringes a U.S. patent issued in July 2022, and seeking unspecified monetary damages. In May 2023, Alnylam filed a separate complaint in the U.S. District Court for the District of Delaware against Pfizer and Pharmacia & Upjohn Company LLC alleging that Comirnaty infringes four additional U.S. patents issued on various dates in 2023 and seeking unspecified monetary damages. In August 2022, ModernaTX, Inc. (ModernaTX) and Moderna US, Inc. (Moderna) sued Pfizer, BioNTech, BioNTech Manufacturing GmbH and BioNTech US Inc. in the U.S. District Court for the District of Massachusetts, alleging that Comirnaty infringes three U.S. patents. In its complaint, Moderna stated that it is seeking damages for alleged infringement occurring after March 7, 2022. In March 2024, the U.S. Patent Office Patent Trial & Appeal Board instituted a review of two of the three patents in suit. In August 2022, ModernaTX filed a patent infringement action in Germany against Pfizer and certain subsidiary companies, as well as BioNTech and certain subsidiary companies, alleging that Comirnaty infringes two European patents. In September 2022, ModernaTX filed patent infringement actions in the U.K. and in the Netherlands against Pfizer and certain subsidiary companies, as well as BioNTech and certain subsidiary companies, on the same two European patents. In its complaints, ModernaTX stated that it is seeking damages for alleged infringement occurring after March 7, 2022. In November 2023, one of the European patents was revoked by the European Patent Office. In December 2023, the other European patent was declared invalid by a court in the Netherlands (the invalidity decision is limited to the Netherlands). In July 2024, the U.K. court revoked one patent, ruling that it was invalid, and held that the other patent was valid and infringed. ModernaTX has also filed additional patent infringement actions against Pfizer and BioNTech in certain other ex-U.S. jurisdictions. In April 2023, Arbutus Biopharma Corporation (Arbutus) and Genevant Sciences GmbH (Genevant) filed a complaint in the U.S. District Court for the District of New Jersey against Pfizer and BioNTech alleging that Comirnaty and its manufacture infringe five U.S. patents, and seeking unspecified monetary damages. In April 2024, GlaxoSmithKline Biologicals SA and GlaxoSmithKline LLC (collectively, GSK Group) sued Pfizer and Pharmacia & Upjohn Company LLC, BioNTech, BioNTech Manufacturing GmbH and BioNTech US Inc. in the U.S. District Court for the District of Delaware, alleging that Comirnaty infringes five U.S. patents and seeking unspecified money damages. In August 2024, GSK Group filed an amended complaint alleging that Comirnaty infringes three additional U.S. patents. In January 2025, Promosome LLC filed a complaint in the Unified Patent Court, Local Division Munich, against Pfizer and BioNTech and certain of their subsidiaries alleging that Comirnaty infringes a European patent that is in force only in France, Germany and Sweden, and seeking unspecified monetary damages in connection with the manufacture and sale of Comirnaty in France, Germany and Sweden. Paxlovid In June 2022, Enanta Pharmaceuticals, Inc. (Enanta) filed a complaint in the U.S. District Court for the District of Massachusetts against Pfizer alleging that the active ingredient in Paxlovid, nirmatrelvir, infringes a U.S. patent issued in June 2022, and seeking unspecified monetary damages. In December 2024, the District Court issued an order granting Pfizer’s motion for summary judgment, finding Enanta’s patent invalid. Abrysvo In August 2023, GSK Group filed a complaint in the U.S. District Court for the District of Delaware against Pfizer alleging that the active ingredient in Abrysvo infringes four U.S. patents. In November 2023, GSK Group amended its complaint to assert infringement of two additional patents. In November 2024, the GSK Group filed a second amended complaint, adding a seventh patent to the lawsuit. The second amended complaint seeks unspecified monetary damages and a permanent injunction against sales of Abrysvo for use in adults in age ranges for which GSK Group’s Arexvy product is also indicated. In addition, we have challenged certain of GSK’s RSV vaccine patents in certain ex-U.S. jurisdictions, including the U.K., the Netherlands, Belgium and the Unified Patent Court, and GSK has asserted that Abrysvo infringes these patents. In October 2024, the U.K. Court held that two of GSK’s U.K. patents were invalid and not infringed. Matters Involving Pfizer and its Collaboration/Licensing Partners Comirnaty (tozinameran) In July 2022, Pfizer, BioNTech and BioNTech Manufacturing GmbH filed a declaratory judgment complaint against CureVac in the U.S. District Court for the District of Massachusetts seeking a judgment of non-infringement for three U.S. patents relating to Comirnaty. In May 2023, the case was transferred to the U.S. District Court for the Eastern District of Virginia. Also in May 2023, CureVac asserted that Comirnaty infringes the three patents that were the subject of our declaratory judgment complaint, and in May and July 2023, CureVac asserted that Comirnaty infringes a number of additional U.S. patents. In the U.K., Pfizer and BioNTech have sued CureVac seeking a judgment of invalidity of several patents and CureVac has made certain infringement counterclaims. In September 2024, the U.K. Court held that both of the CureVac patents in suit are invalid. A2. Legal Proceedings––Product Litigation We are defendants in numerous cases, including but not limited to those discussed below, related to our pharmaceutical and other products. Plaintiffs in these cases seek damages and other relief on various grounds for alleged personal injury and economic loss. Asbestos Between 1967 and 1982, Warner-Lambert owned American Optical Corporation (American Optical), which manufactured and sold respiratory protective devices and asbestos safety clothing. In connection with the sale of American Optical in 1982, Warner-Lambert agreed to indemnify the purchaser for certain liabilities, including certain asbestos-related and other claims. Warner-Lambert was acquired by Pfizer in 2000 and is a wholly owned subsidiary of Pfizer. Warner-Lambert is actively engaged in the defense of, and will continue to explore various means of resolving, these claims. Numerous lawsuits against American Optical, Pfizer and certain of its previously owned subsidiaries are pending in various federal and state courts seeking damages for alleged personal injury from exposure to products allegedly containing asbestos and other allegedly hazardous materials sold by Pfizer and certain of its previously owned subsidiaries. There also are a small number of lawsuits pending in various federal and state courts seeking damages for alleged exposure to asbestos in facilities owned or formerly owned by Pfizer or its subsidiaries. Lipitor In 2013, the State of West Virginia filed an action in West Virginia state court against Pfizer and Ranbaxy Laboratories Limited, among others, that asserted claims and sought relief on behalf of the State of West Virginia and residents of that state alleging delay in the launch of generic Lipitor, in violation of state antitrust, consumer protection and various other laws. In December 2024, we reached an agreement to settle this matter on terms not material to Pfizer. Docetaxel A number of lawsuits have been filed against Hospira and Pfizer in various federal and state courts alleging that plaintiffs who were treated with Docetaxel developed permanent hair loss. Hospira is a wholly-owned subsidiary that we acquired in September 2015. The significant majority of the cases also name other defendants, including the manufacturer of the branded product, Taxotere. Plaintiffs seek compensatory and punitive damages. Additional lawsuits have been filed in which plaintiffs allege they developed blocked tear ducts following their treatment with Docetaxel. In 2016, the federal cases were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Eastern District of Louisiana. In 2022, the eye injury cases were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Eastern District of Louisiana. Zantac A number of lawsuits have been filed against Pfizer in various federal and state courts alleging that plaintiffs developed various types of cancer, or face an increased risk of developing cancer, purportedly as a result of the ingestion of Zantac. The significant majority of these cases also name other defendants that have historically manufactured and/or sold Zantac. Pfizer has not sold Zantac since 2006, and only sold an OTC version of the product. In 2006, Pfizer sold the consumer business that included its Zantac OTC rights to Johnson & Johnson and transferred the assets and liabilities related to Zantac OTC to Johnson & Johnson in connection with the sale. Plaintiffs in these cases seek compensatory and punitive damages. In February 2020, the federal actions were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Southern District of Florida (the Federal MDL Court). Plaintiffs in the MDL filed against Pfizer and many other defendants a master personal injury complaint, a consolidated consumer class action complaint alleging, among other things, claims under consumer protection statutes of all 50 states, and a medical monitoring complaint seeking to certify medical monitoring classes under the laws of 13 states. In December 2022, the Federal MDL Court granted defendants’ Daubert motions to exclude plaintiffs’ expert testimony and motion for summary judgment on general causation, which has resulted in the dismissal of all complaints in the litigation. Plaintiffs have appealed the Federal MDL Court’s rulings. In addition, (i) Pfizer has received service of Canadian class action complaints naming Pfizer and other defendants, and seeking compensatory and punitive damages for personal injury and economic loss, allegedly arising from the defendants’ sale of Zantac in Canada; and (ii) the State of New Mexico and the Mayor and City Council of Baltimore separately filed civil actions against Pfizer and many other defendants in state courts, alleging various state statutory and common law claims in connection with the defendants’ alleged sale of Zantac in those jurisdictions. In April 2021, a Judicial Council Coordinated Proceeding was created in the Superior Court of California in Alameda County to coordinate personal injury actions against Pfizer and other defendants filed in California state court. Coordinated proceedings have also been created in other state courts. The large majority of the state court cases have been filed in the Superior Court of Delaware in New Castle County. Many of these Zantac-related cases have been outstanding for a number of years and could take many more years to resolve. From time to time, Pfizer has explored and will continue to explore opportunistic settlements of these matters. As of January 2025, Pfizer had settled, or entered into definitive agreements or agreements-in-principle to settle, subject to certain conditions, a substantial majority of the cases filed in state courts in which the plaintiff alleges use of a Pfizer product. The remaining unresolved state court cases continue in various state courts. Chantix Beginning in August 2021, a number of putative class actions have been filed against Pfizer in various U.S. federal courts following Pfizer’s voluntary recall of Chantix due to the presence of a nitrosamine, N-nitroso-varenicline. Plaintiffs assert that they suffered economic harm purportedly as a result of purchasing Chantix or generic varenicline medicines sold by Pfizer. Plaintiffs seek to represent nationwide and state-specific classes and seek various remedies, including damages and medical monitoring. In December 2022, the federal actions were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Southern District of New York. Similar putative class actions have been filed in Canada and Israel, where the product brand is Champix. The class action in Israel has been dismissed. Depo-Provera A number of lawsuits have been filed against Pfizer and certain subsidiaries in various federal and state courts alleging that plaintiffs who used the injectable version of Depo-Provera (active ingredient medroxyprogesterone acetate, or MPA) for contraception developed meningioma. The cases also name other defendants, including the manufacturers of generic versions of injectable MPA for contraception. Plaintiffs assert claims against Pfizer relating to both Depo-Provera and generic MPA products, and seek compensatory and punitive damages. In February 2025, the federal cases were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Northern District of Florida. A3. Legal Proceedings––Commercial and Other Matters Monsanto-Related Matters In 1997, Monsanto Company (Former Monsanto) contributed certain chemical manufacturing operations and facilities to a newly formed corporation, Solutia Inc. (Solutia), and spun off the shares of Solutia. In 2000, Former Monsanto merged with Pharmacia & Upjohn Company to form Pharmacia. Pharmacia then transferred its agricultural operations to a newly created subsidiary, named Monsanto Company (New Monsanto), which it spun off in a two-stage process that was completed in 2002. Pharmacia was acquired by Pfizer in 2003 and is a wholly owned subsidiary of Pfizer. In connection with its spin-off that was completed in 2002, New Monsanto assumed, and agreed to indemnify Pharmacia for, any liabilities related to Pharmacia’s former agricultural business. New Monsanto has defended and/or is defending Pharmacia in connection with various claims and litigation arising out of, or related to, the agricultural business, and has been indemnifying Pharmacia when liability has been imposed or settlement has been reached regarding such claims and litigation. In connection with its spin-off in 1997, Solutia assumed, and agreed to indemnify Pharmacia for, liabilities related to Former Monsanto’s chemical businesses. As the result of its reorganization under Chapter 11 of the U.S. Bankruptcy Code, Solutia’s indemnification obligations relating to Former Monsanto’s chemical businesses are primarily limited to sites that Solutia has owned or operated. In addition, in connection with its spin-off that was completed in 2002, New Monsanto assumed, and agreed to indemnify Pharmacia for, any liabilities primarily related to Former Monsanto’s chemical businesses, including, but not limited to, any such liabilities that Solutia assumed. Solutia’s and New Monsanto’s assumption of, and agreement to indemnify Pharmacia for, these liabilities apply to pending actions and any future actions related to Former Monsanto’s chemical businesses in which Pharmacia is named as a defendant, including, without limitation, actions asserting environmental claims, including alleged exposure to polychlorinated biphenyls. Solutia and/or New Monsanto are defending Pharmacia in connection with various claims and litigation arising out of, or related to, Former Monsanto’s chemical businesses, and have been indemnifying Pharmacia when liability has been imposed or settlement has been reached regarding such claims and litigation. In 2018, Bayer AG acquired Monsanto Company (New Monsanto), which is now a subsidiary of Bayer AG. Since the acquisition, New Monsanto has continued to defend and indemnify Pharmacia for these liabilities. Environmental Matters In 2009, as part of our acquisition of Wyeth, we assumed responsibility for environmental remediation at the Wyeth Holdings LLC (formerly known as Wyeth Holdings Corporation and American Cyanamid Company) discontinued industrial chemical facility in Bound Brook, New Jersey. Since that time, we have executed or have become a party to a number of administrative settlement agreements, orders on consent, and/or judicial

Segment, Geographic and Other R

Segment, Geographic and Other Revenue Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment, Geographic and Other Revenue Information	Segment, Geographic and Other Revenue Information A. Segment Information We manage our commercial operations through three operating segments, each led by a single manager: Biopharma, PC1 and Pfizer Ignite. Biopharma is engaged in the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products worldwide. PC1 is our contract development and manufacturing organization and a leading supplier of specialty active pharmaceutical ingredients. Pfizer Ignite is an offering that provides strategic guidance and end-to-end R&D services to select innovative biotech companies that align with Pfizer’s R&D focus areas. Prior to June 2024, PC1 and Pfizer Ignite were managed together by a single manager as part of the former Business Innovation operating segment. Biopharma is the only reportable segment. Pfizer’s CODM is the Chairman and Chief Executive Officer. Our CODM uses the revenues and earnings of the operating segments, among other factors, for performance evaluation and resource allocation. The CODM uses segment revenues and earnings in the annual budgeting process when setting strategic goals for the company and considers periodic budget-to-actual variances in segment revenues and earnings when assessing performance of the segments and making decisions about allocating resources to the operating segments. By analyzing segment financial results, the CODM can discern trends, which can inform decisions that align with the company’s goals and objectives, and help ensure r isks are managed appropriately. We regularly review our operating segments and the approach used by management to evaluate performance and allocate resources. Our commercial divisions market, sell and distribute our products, and global operating functions are responsible for the research, development, manufacturing and supply of our products. Each operating segment is supported by our global corporate enabling functions. At the beginning of 2024, we made changes in our commercial organization to incorporate Seagen and improve focus, speed and execution. The commercial structure within our Biopharma reportable segment in 2024 was comprised of the Pfizer Oncology Division, the Pfizer U.S. Commercial Division, and the Pfizer International Commercial Division: • Pfizer Oncology Division combined the U.S. Oncology commercial organizations, global Oncology marketing organizations and global and U.S. Oncology medical affairs from both Pfizer and Seagen. • Pfizer U.S. Commercial Division included the U.S. Primary Care and U.S. Specialty Care customer groups, the Chief Marketing Office, the Global Chief Medical Affairs Office and Global Access & Value. • Pfizer International Commercial Division included the ex-U.S. commercial and medical affairs organizations covering Pfizer’s entire product portfolio in all international markets. Beginning January 1, 2024, Biopharma’s earnings include costs related to manufacturing and supply, sales and marketing activities, R&D, and medical and safety activities that are associated with products in our Biopharma segment. Prior to 2024, overhead costs associated with our manufacturing operations and costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations in 2024 were presented as part of Other business activities. We have reclassified our prior period segment information to conform to the current period presentation. • ORD was responsible in 2024 for discovery to late-phase clinical development for oncology research projects for our global portfolio along with facilitating regulatory submissions and interactions with regulatory agencies for these projects. R&D spending may include upfront and milestone payments for intellectual property rights for oncology projects. • PRD was responsible in 2024 for discovery to late-phase clinical development research projects for all therapeutic areas other than oncology for our global portfolio, along with facilitating regulatory submissions and interactions with regulatory agencies for these projects. R&D spending may include upfront and milestone payments for intellectual property rights related to non-oncology projects. PRD also had responsibility for certain science-based and other services organizations, which provide end-to-end technical expertise and other services to both ORD and PRD projects, as well as the Worldwide Medical and Safety group, which helps ensure that Pfizer provides all stakeholders––including patients, healthcare providers, pharmacists, payors and health authorities––with complete and up-to-date information on the risks and benefits associated with Pfizer products so that they can make appropriate decisions on how and when to use Pfizer’s medicines. Other Business Activities–– Other business activities include the operating results of PC1 and Pfizer Ignite as well as certain pre-tax costs not allocated to our operating segment results, such as costs associated with: • corporate enabling functions (such as digital, global real estate operations, legal, finance, human resources, worldwide public affairs, compliance and worldwide procurement, among others) and other corporate costs, including, but not limited to, all strategy, business development and portfolio management capabilities and certain compensation, as well as interest income and expense, and gains and losses on investments; and • our share of earnings from Haleon/the Consumer Healthcare JV (see Note 2C ). Reconciling Items–– Reconciling items include the following items, transactions and events that are not allocated to our operating segments: (i) all amortization of intangible assets; (ii) acquisition-related items, where we incur costs for executing the transaction, integrating the acquired operations and restructuring the combined company, and which may also include purchase accounting impacts, such as the incremental charge to cost of sales from the sale of acquired inventory that was written up to fair value, depreciation related to the increase/decrease in fair value of acquired fixed assets, amortization related to the increase in fair value of acquired debt, and the fair value changes for contingent consideration; and (iii) certain significant items, representing substantive and/or unusual, and in some cases recurring, items that are evaluated on an individual basis by management and that, either as a result of their nature or size, would not be expected to occur as part of our normal business on a regular basis. Such certain significant items can include, but are not limited to, pension and postretirement actuarial remeasurement gains and losses, non-acquisition-related restructuring costs, net gains and losses on investments in equity securities, as well as costs incurred for legal settlements, asset impairments and disposals of assets or businesses, including, as applicable, any associated transition activities. Segment Assets–– We manage our assets on a total company basis, not by operating segment, as our operating assets are shared or commingled. Therefore, our CODM does not regularly review any asset information by operating segment and, accordingly, we do not report asset information by operating segment. Total assets were $213 billion as of December 31, 2024 and $227 billion as of December 31, 2023. Selected Statement of Operations Information The following table provides selected information by reportable segment: Total Revenues Earnings (a) Depreciation and Amortization (b) Year Ended December 31, Year Ended December 31, Year Ended December 31, (MILLIONS) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Reportable Segment: Biopharma (c) $ 62,400 $ 58,237 $ 99,826 $ 28,139 $ 15,923 $ 47,939 $ 1,360 $ 1,213 $ 1,107 Other business activities (d) 1,228 1,316 1,349 (7,382) (4,342) (5,162) 340 323 332 Reconciling Items: Amortization of intangible assets (5,286) (4,733) (3,609) 5,286 4,733 3,609 Acquisition-related items (1,938) (1,874) (832) 12 (11) (20) Certain significant items (e) (5,510) (3,917) (3,608) 14 32 36 $ 63,627 $ 59,553 $ 101,175 $ 8,023 $ 1,058 $ 34,729 $ 7,013 $ 6,290 $ 5,064 (a) Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss). As described above, in connection with the organizational changes effective in the first quarter of 2024, overhead costs associated with our manufacturing operations and costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations as they operated in 2024 are included in Biopharma’s earnings. We have reclassified $14.7 billion and $9.2 billion of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. (b) Certain production facilities are shared. Depreciation is allocated based on estimates of physical production. As described above, in connection with the organizational changes effective in the first quarter of 2024, we have reclassified $331 million and $294 million of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. (c) Biopharma’s revenues and earnings in 2024 reflect a non-cash favorable product return adjustment of $771 million recorded in the first quarter of 2024 and in 2023 reflected a non-cash revenue reversal of $3.5 billion (see Note 17C ). In 2023, Biopharma earnings included approximately $6.2 billion of inventory write-offs and related charges to Cost of sales mainly due to lower-than-expected demand for our COVID-19 products. In 2022, Biopharma earnings included COVID-19-related charges of approximately $1.7 billion to Cost of sales , composed of (i) inventory write-offs of approximately $1.2 billion related to COVID-19 products that exceeded or were expected to exceed their approved shelf-lives prior to being used and (ii) charges of approximately $0.5 billion, primarily related to excess raw materials for Paxlovid. Biopharma’s earnings also include dividend income from our investment in ViiV of $272 million in 2024, $265 million in 2023 and $314 million in 2022. (d) Other business activities include revenues and costs associated with PC1 and Pfizer Ignite as well as costs that we do not allocate to our operating segments, per above. (e) Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in 2024 include, among other items: (i) intangible asset impairment charges of $3.3 billion recorded in Other (income)/deductions––net , (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $2.2 billion (primarily recorded in Restructuring charges and certain acquisition-related co sts), (iii) actuarial valuation and other postretirement plan losses of $579 million recorded in Other (income)/deductions––net , (iv) charges for certain legal matters of $567 million recorded in Other (income)/deductions––net, and (v) a charge in Other (income)/deductions––net of $420 million related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program, partially offset by (vi) net gains on equity securities of $1.0 billion and (vii) net gains of $825 million on the partial sales of our investment in Haleon in March and October 2024, which are comprised of (a) total gains on the sales of $945 million less (b) $120 million in the fourth quarter (included in Other business activities) representing our pro-rata share of Haleon’s third quarter 2024 adjusted income recorded on a one quarter lag and implicitly included in the gain on the sale of those shares. Earnings in 2023 included, among other items: (i) intangible asset impairment charges of $3.0 billion recorded in Other (income)/deductions––net and (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $2.2 billion ($290 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related co sts), partially offset by (iii) net gains on equity securities of $1.6 billion recorded in Other (income)/deductions––net . Earnings in 2022 included, among other items: (i) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.4 billion ($562 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs ) and (ii) net losses on equity securities of $1.3 billion recorded in Other (income)/deductions––net . See Notes 3 and 4 . The following provides Biopharma reportable segment information regularly provided to the CODM: Year Ended December 31, (MILLIONS) 2024 2023 2022 Biopharma reportable segment: Biopharma total revenues $ 62,400 $ 58,237 $ 99,826 Less: Cost of sales 14,997 22,666 32,859 Selling, informational and administrative expenses 10,040 10,235 9,207 Research and development expenses 9,532 9,763 10,324 Acquired in-process research and development expenses 108 194 181 Other (income)/deductions –– net (416) (543) (685) Biopharma earnings $ 28,139 $ 15,923 $ 47,939 Revenues - Comirnaty $ 5,353 $ 11,220 $ 37,809 Revenues - Paxlovid $ 5,716 $ 1,279 $ 18,933 Revenues - excluding Comirnaty and Paxlovid $ 51,331 $ 45,738 $ 43,084 The following summarizes revenues by geographic area: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States $ 38,691 $ 28,145 $ 43,317 International: Developed Markets 16,057 20,910 40,534 Emerging Markets 8,879 10,498 17,324 Total revenues $ 63,627 $ 59,553 $ 101,175 Revenues exceeded $500 million in each of 11, 14 and 24 countries outside the U.S. in 2024, 2023 and 2022, respectively. The U.S. is the only country to contribute more than 10% of total revenue in 2024, 2023 and 2022. As a percentage of Total revenues , China was our largest market outside the U.S. (representing 4% of total revenues) in 2024, and Japan was our largest market outside the U.S. in 2023 and 2022 (representing 6% and 8% of total revenues, respectively). Significant Customers We and our collaboration partner, BioNTech, have entered into agreements to supply pre-specified doses of Comirnaty with multiple developed and emerging nations around the world and are continuing to deliver doses of Comirnaty under such agreements. This includes supply agreements entered into in November 2020 and February and May 2021 with the EC for Comirnaty on behalf of the different EU member states and certain other countries. Each EU member state submits its own Comirnaty vaccine order to us and is responsible for payment pursuant to terms of the supply agreements negotiated by the EC. In May 2023, we and BioNTech amended our contract with the EC to deliver COVID-19 vaccines to the EU. The amended agreement includes rephasing of delivery of doses annually through 2026 and an aggregate volume reduction, providing additional flexibility for those EU member states who agreed to the amended agreement. The EC will maintain access to future adapted COVID-19 vaccines and the ability to donate doses, in alignment with the original agreement. In 2022 and 2023, we had entered into agreements to supply pre-specified treatment courses of Paxlovid with government and government sponsored customers in multiple developed and emerging nations around the world, which represented most Paxlovid revenues in 2022 and 2023, while commercialization began in some markets in 2023. In October 2023, we announced an amended agreement with the U.S. government, which facilitated the transition of Paxlovid to traditional commercial markets in the U.S. starting in November 2023, with prices negotiated with commercial payors and a copay assistance program for eligible privately insured patients, as the U.S. government began to discontinue the distribution of EUA-labeled Paxlovid. We ensured commercial readiness by providing NDA-labeled commercial supply by the end of 2023. However, EUA-labeled Paxlovid remained available free-of-charge to all eligible patients until the end of 2023, and therefore, there was only minimal uptake of NDA-labeled commercial product before January 1, 2024. In connection with this agreement, we recorded a non-cash revenue reversal of $3.5 billion in the fourth quarter of 2023, of which a portion was associated with sales recorded in 2022, related to the expected return of an estimated 6.5 million treatment courses of EUA-labeled U.S. government inventory. In the first quarter of 2024, we recorded a non-cash favorable final adjustment of $771 million to reflect 5.1 million EUA-labeled treatment courses returned through February 29, 2024, which were converted to a volume-based credit that supports continued access to Paxlovid through a U.S. government patient assistance program operated by Pfizer. In the third quarter of 2024, in connection with this amended agreement, we also supplied at no cost to the U.S. government or taxpayers a U.S. SNS of 1.0 million treatment courses to enable future pandemic preparedness through 2028, and recorded revenue of $442 million. While we are recognizing revenue as these treatment courses are delivered, there is no cash consideration for these treatment courses. The following summarizes revenue, as a percentage of Total revenues , for our three largest U.S. wholesaler customers and the U.S. government, which was concentrated in our Biopharma operating segment: Year Ended December 31, 2024 2023 2022 McKesson, Inc. 23 % 16 % 8 % Cencora, Inc. 17 % 12 % 5 % Cardinal Health, Inc. 14 % 10 % 4 % U.S. government (a) 6 % — 23 % (a) The decrease in revenues from the U.S. government as a percentage of Total revenues for 2024 and 2023 compared to 2022 was primarily due to the transition of Comirnaty and Paxlovid to commercial market sales in the second half of 2023 as well as the revenue reversal for Paxlovid in the fourth quarter of 2023. Collectively, our three largest U.S. wholesaler customers represented 34% and 42% of total trade accounts receivable as of December 31, 2024 and December 31, 2023, respectively. Accounts receivable from the U.S. government as of December 31, 2024 and December 31, 2023 were not material to our consolidated financial statements. Significant Revenues by Product The following provides detailed revenue information for several of our major products: (MILLIONS) Year Ended December 31, PRODUCT PRIMARY INDICATION OR CLASS 2024 2023 2022 TOTAL REVENUES $ 63,627 $ 59,553 $ 101,175 GLOBAL BIOPHARMACEUTICALS BUSINESS (BIOPHARMA) $ 62,400 $ 58,237 $ 99,826 Primary Care $ 30,135 $ 30,799 $ 73,181 Eliquis (a) Nonvalvular atrial fibrillation, deep vein thrombosis, pulmonary embolism 7,366 6,747 6,480 Prevnar family Active immunization to prevent pneumonia, invasive disease and otitis media caused by Streptococcus pneumoniae 6,411 6,501 6,342 Paxlovid (b) COVID-19 in certain high-risk patients 5,716 1,279 18,933 Comirnaty Active immunization to prevent COVID-19 5,353 11,220 37,809 Nurtec ODT/Vydura Acute treatment of migraine and prevention of episodic migraine 1,263 928 213 Abrysvo Active immunization to prevent RSV infection 755 890 — Premarin family Symptoms of menopause 380 397 455 BMP2 Bone graft for spinal fusion 352 338 277 FSME-IMMUN/TicoVac Active immunization to prevent tick-borne encephalitis disease 280 268 200 All other Primary Care Various 2,259 2,233 2,473 Specialty Care $ 16,652 $ 14,988 $ 13,851 Vyndaqel family ATTR-CM and polyneuropathy 5,451 3,321 2,447 Xeljanz RA, PsA, UC, active polyarticular course juvenile idiopathic arthritis, ankylosing spondylitis 1,168 1,703 1,796 Enbrel (Outside the U.S. and Canada) RA, juvenile idiopathic arthritis, PsA, plaque psoriasis, pediatric plaque psoriasis, ankylosing spondylitis and nonradiographic axial spondyloarthritis 690 830 1,003 Sulperazon Bacterial infections 637 757 786 Zavicefta Bacterial infections 586 511 412 Octagam (c) Primary humoral immunodeficiency, chronic immune thrombocytopenic purpura in adults, and dermatomyositis in adults 509 245 186 Inflectra Crohn’s disease, pediatric Crohn’s disease, UC, pediatric UC, RA in combination with methotrexate, ankylosing spondylitis, PsA and plaque psoriasis 509 490 532 Zithromax Bacterial infections 480 406 331 (MILLIONS) Year Ended December 31, PRODUCT PRIMARY INDICATION OR CLASS 2024 2023 2022 Genotropin Replacement of human growth hormone 470 539 360 BeneFIX Hemophilia B 381 424 425 Cibinqo Atopic dermatitis 215 128 27 Oxbryta (d) Sickle cell disease 201 328 73 All other Hospital (e) Various 4,448 4,514 4,730 All other Specialty Care Various 907 792 743 Oncology $ 15,612 $ 12,450 $ 12,794 Ibrance HR-positive/HER2-negative metastatic breast cancer 4,367 4,753 5,120 Xtandi (f) mCRPC, nmCRPC, mCSPC, nmCSPC 2,039 1,659 1,650 Padcev Locally advanced or metastatic urothelial cancer 1,588 53 — Adcetris Hodgkin lymphoma and certain T-cell lymphomas 1,089 56 — Oncology biosimilars (g) Various 1,037 1,407 1,753 Inlyta Advanced RCC 978 1,036 1,003 Lorbrena ALK-positive metastatic NSCLC 731 539 343 Bosulif Philadelphia chromosome–positive chronic myelogenous leukemia 645 645 575 Braftovi/Mektovi Metastatic melanoma in patients with a BRAFV600E/K mutation and for metastatic NSCLC in patients with a BRAFV600E mutation; and, for Braftovi for the treatment of BRAFV600E-mutant mCRC, in combination with Erbitux (cetuximab) (h) (after prior therapy) or cetuximab and mFOLFOX6 607 477 456 Tukysa Unresectable or metastatic HER2-positive breast cancer; RAS wild-type, HER2-positive unresectable or metastatic colorectal cancer 480 18 — Elrexfio Relapsed or refractory multiple myeloma 133 10 — Tivdak Recurrent or mCC 131 4 — Talzenna In combination with Xtandi (enzalutamide) for adult patients with HRR gene-mutated mCRPC; treatment of BRCA gene-mutated, HER2-negative, inoperable or recurrent breast cancer 117 64 48 All other Oncology Various 1,670 1,729 1,846 PFIZER CENTREONE (i) $ 1,146 $ 1,272 $ 1,342 PFIZER IGNITE $ 82 $ 44 $ 7 BIOPHARMA $ 62,400 $ 58,237 $ 99,826 PFIZER U.S. COMMERCIAL DIVISION (U.S. Primary Care and U.S. Specialty Care) 26,765 19,299 34,337 PFIZER ONCOLOGY DIVISION 11,567 8,450 8,583 PFIZER INTERNATIONAL COMMERCIAL DIVISION 24,068 30,488 56,905 Total Alliance revenues included above $ 8,388 $ 7,582 $ 8,537 Total Royalty revenues included above $ 1,423 $ 1,058 $ 845 (a) Reflects Alliance revenues and product revenues. (b) 2024 includes (i) a $771 million favorable final adjustment recorded in the first quarter to the estimated non-cash revenue reversal of $3.5 billion recorded in the fourth quarter of 2023, reflecting 5.1 million EUA-labeled treatment courses returned by the U.S. government through February 29, 2024 versus the estimated 6.5 million treatment courses that were expected to be returned as of December 31, 2023, and (ii) $442 million of revenue recorded in the third quarter in connection with the creation of the U.S. SNS. 2023 includes a non-cash revenue reversal of $3.5 billion recorded in the fourth quarter, of which a portion was associated with sales recorded in 2022, related to the expected return of an estimated 6.5 million treatment courses of EUA-labeled U.S. government inventory. (c) 2024 includes $129 million related to a one-time sales true-up settlement agreement with our commercialization partner. (d) In September 2024, we announced our voluntary withdrawal of all lots of Oxbryta for the treatment of sickle cell disease in all markets where it is approved, as well as the discontinuation of expanded access programs worldwide, based on the totality of clinical data that indicated at that time the overall benefit of Oxbryta no longer outweighs the risk in the approved sickle cell patient population. The data suggest an imbalance in vaso-occlusive crises and fatal events, which requires further assessment that remains ongoing. (e) Includes, among other Hospital products, amounts previously presented as All other Anti-infectives and Ig Portfolio. (f) Primarily reflects Alliance revenues and royalty revenues. (g) Biosimilars are highly similar versions of approved and authorized biological medicines. Oncology biosimilars primarily include Retacrit, Ruxience, Zirabev, Trazimera and Nivestym. (h) Erbitux is a registered trademark of ImClone LLC. (i) PC1 includes revenues from our contract manufacturing and our active pharmaceutical ingredient sales operation, as well as revenues related to our manufacturing and supply agreements with legacy Pfizer businesses/partnerships. Remaining Performance Obligations–– Contracted revenue expected to be recognized from remaining performance obligations for firm orders in long-term contracts to supply Comirnaty and Paxlovid to our customers totaled approximately $4 billion and $1 billion, respectively, as of December 31, 2024, which includes amounts received in advance and deferred, as well as amounts that will be invoiced as we deliver these products to our customers in future periods. Of these amounts, current contract terms provide for expected delivery of product with contracted revenue from 2025 through 2028, the timing of which may be renegotiated. Remaining performance obligations are based on foreign exchange rates as of the end of our fiscal fourth quarter of 2024 and exclude arrangements with an original expected contract duration of less than one year. Remaining performance obligations associated with contracts for other products and services were not significant as of December 31, 2024 or 2023. Deferred Revenues–– Our deferred revenues primarily relate to advance payments received or receivable from various government or government sponsored customers for supply of Paxlovid and Comirnaty. The deferred revenues related to Paxlovid and Comirnaty totaled $2.2 billion as of December 31, 2024, with $1.4 billion and $785 million recorded in current liabilities and noncurrent liabilities, respectively. The deferred revenues related to Paxlovid and Comirnaty totaled $5.1 billion as of December 31, 2023, with $2.6 billion and $2.5 billion recorded in current liabilities and noncurrent liabilities, respectively. The decrease in Paxlovid and Comirnaty deferred revenues during full-year 2024 was primarily driven by amounts recognized in Product revenues as we delivered the products to our customers (including $442 million associated with the U.S. SNS for Paxlovid) as well as the aforementioned $771 million favorable final adjustment recorded in the first quarter of 2024 for Paxlovid, partially offset by additional advance payments received in 2024 as we entered into amended contracts. During 2024, we recognized revenue of approximately $2.9 billion that was included in the balance of Paxlovid and Comirnaty deferred revenues as of December 31, 2023. The Paxlovid and Comirnaty deferred revenues as of December 31, 2024 will be recognized in Product revenues proportionately as we transfer control of the products to our customers and satisfy our performance obligations under the contracts, with the amounts included in current liabilities expected to be recognized in Product revenues within the next 12 months, and the amounts included in noncurrent liabilities expected to be recognized in Product revenues from December 2025 (which falls in our international first quarter of 2026) through 2028. Deferred revenues associated with contracts for other products were not significant as of December 31, 2024 or December 31, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Income attributable to shareholders	$ 8,031	$ 2,119	$ 31,372

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Managing cybersecurity risk is a crucial part of our overall strategy for safely operating our business. We incorporate cybersecurity practices into our Enterprise Risk Management (ERM) program. Management is responsible for assessing and managing risk, including through the ERM program, subject to oversight by our BOD. Our cybersecurity policies and practices are aligned with NIST (National Institute of Standards and Technology) industry standards. Consistent with our overall ERM program and practices, our cybersecurity program includes: • Vigilance : We maintain a global cybersecurity operation that endeavors to detect, prevent, contain, and respond to cybersecurity threats and incidents in a prompt and effective manner with the goal of minimizing business disruptions. • External Collaboration : We collaborate with public and private entities, including intelligence and law enforcement agencies, industry groups and third-party service providers to identify, assess and mitigate cybersecurity risks. • Systems Safeguards : We deploy technical safeguards that are designed to protect our information systems, products, operations and sensitive information from cybersecurity threats. These include firewalls, intrusion prevention and detection systems, disaster recovery capabilities, malware and ransomware prevention, access controls and data protection. We continuously conduct vulnerability assessments to identify new risks and periodically test the efficacy of our safeguards through both internal and external penetration tests. • Education : We provide periodic training for all personnel regarding cybersecurity threats, with such training appropriate to the roles, responsibilities and access of the relevant Company personnel. Our policies require all workers to report any real or suspected cybersecurity events. • Supplier Ecosystem Management : We extend our cybersecurity management control expectations to our supply chain ecosystem, as appropriate. This includes identifying cybersecurity risks presented by third parties. • Incident Response Planning : We have established, and maintain and periodically test, incident response plans that direct our response to cybersecurity events and incidents. Such plans include the protocol by which certain significant or potentially material incidents would be communicated to executive management, our BOD, external regulators and shareholders, as appropriate. • Enterprise-Wide Coordination : We engage relevant stakeholders from across the Company to identify emerging risks and respond to cybersecurity threats. This cross-functional approach includes personnel from our R&D, manufacturing, commercial, technology, legal, compliance, internal audit and other business functions. • Governance : Our BOD’s oversight of cybersecurity risk management is led by the Audit Committee, which oversees our ERM program. Cybersecurity threats, risks and mitigation are periodically reviewed by the Audit Committee and such reviews include both internal and independent assessment of risks, controls and effectiveness. Our risk assessment efforts have indicated that we are a target for theft of intellectual property, financial resources, personal information, and trade secrets from a wide range of actors including nation states, organized crime, malicious insiders and activists. The impacts of attacks, abuse and misuse of Pfizer’s systems and information could include, without limitation, loss of assets, operational disruption and damage to Pfizer’s reputation. A key element of managing cybersecurity risk is the ongoing assessment and testing of our processes and practices through auditing, assessments, drills and other exercises focused on evaluating the sufficiency and effectiveness of our risk mitigation. We regularly engage third parties to perform assessments of our cybersecurity measures, including information security maturity assessments and independent reviews of our information security control environment and operating effectiveness. Certain results of such assessments and reviews are reported by the Chief Information Security Officer (CISO) to certain senior leaders, the Audit Committee and the BOD, as appropriate, and we make adjustments to our cybersecurity processes and practices as necessary based on the information provided by the third-party assessments and reviews.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Managing cybersecurity risk is a crucial part of our overall strategy for safely operating our business. We incorporate cybersecurity practices into our Enterprise Risk Management (ERM) program. Management is responsible for assessing and managing risk, including through the ERM program, subject to oversight by our BOD. Our cybersecurity policies and practices are aligned with NIST (National Institute of Standards and Technology) industry standards.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Governance : Our BOD’s oversight of cybersecurity risk management is led by the Audit Committee, which oversees our ERM program. Cybersecurity threats, risks and mitigation are periodically reviewed by the Audit Committee and such reviews include both internal and independent assessment of risks, controls and effectiveness.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee oversees cybersecurity risk management, including the policies, processes and practices that management implements to prevent, detect and address risks from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives periodic briefings on, and discusses with our CISO, cybersecurity risks and risk management practices, including, for example, recent developments in the external cybersecurity threat landscape, evolving standards, vulnerability assessments, third-party and independent reviews, technological trends and considerations arising from our supplier ecosystem. The Audit Committee may also promptly receive information regarding certain significant or potentially material cybersecurity incidents that may occur, including any ongoing updates regarding the same.
Cybersecurity Risk Role of Management [Text Block]	Our CISO is a member of our management team who is principally responsible for overseeing our cybersecurity risk management program, in partnership with other business leaders across the Company. We believe our CISO and the information security organization have the appropriate expertise, background and depth of experience relating to monitoring the prevention, mitigation, detection and remediation of cybersecurity incidents to manage risks arising from cybersecurity threats. The CISO works in coordination with other members of the management team, including, among others, the Chief Digital Officer, the Chief Financial Officer and the Chief Legal Officer and their designees. Our CISO, along with leaders from our privacy and corporate compliance functions, collaborate to implement a program designed to manage our exposure to cybersecurity risks and to promptly respond to cybersecurity incidents. Prompt response to incidents is delivered by multi-disciplinary teams in accordance with our incident response plan. Through ongoing communications with these teams during incidents, the CISO monitors the triage, mitigation and remediation of cybersecurity incidents, and reports such incidents to executive management, the Audit Committee and other Pfizer colleagues in accordance with our cybersecurity policies and procedures, as is appropriate.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our CISO is a member of our management team who is principally responsible for overseeing our cybersecurity risk management program, in partnership with other business leaders across the Company.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	We believe our CISO and the information security organization have the appropriate expertise, background and depth of experience relating to monitoring the prevention, mitigation, detection and remediation of cybersecurity incidents to manage risks arising from cybersecurity threats.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The CISO works in coordination with other members of the management team, including, among others, the Chief Digital Officer, the Chief Financial Officer and the Chief Legal Officer and their designees. Our CISO, along with leaders from our privacy and corporate compliance functions, collaborate to implement a program designed to manage our exposure to cybersecurity risks and to promptly respond to cybersecurity incidents. Prompt response to incidents is delivered by multi-disciplinary teams in accordance with our incident response plan. Through ongoing communications with these teams during incidents, the CISO monitors the triage, mitigation and remediation of cybersecurity incidents, and reports such incidents to executive management, the Audit Committee and other Pfizer colleagues in accordance with our cybersecurity policies and procedures, as is appropriate.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The consolidated financial statements include the accounts of our parent company and all subsidiaries and are prepared in accordance with U.S. GAAP.
Consolidation	The decision of whether or not to consolidate an entity for financial reporting purposes requires consideration of majority voting interests, as well as effective economic or other control over the entity. Typically, we do not seek control by means other than voting interests. For subsidiaries operating outside the U.S., the financial information is included as of and for the year ended November 30 for each year presented. Pfizer's fiscal year-end for U.S. subsidiaries is as of and for the year ended December 31 for each year presented. All significant transactions among our subsidiaries have been eliminated.
Segment Reporting	We manage our commercial operations through three operating segments, each led by a single manager: Biopharma, PC1 and Pfizer Ignite. Biopharma is the only reportable segment.
Reclassification Adjustments	We have made certain reclassification adjustments to conform prior-period amounts to the current presentation for: • in the first quarter of 2024, we reclassified royalty income (substantially all of which is related to Biopharma) from Other (income)/deductions––net and began presenting Royalty revenues as a separate line item within Total revenues in our consolidated statements of operations, and reclassified the associated royalty receivables from Other current assets to Trade accounts receivable, less allowance for doubtful accounts in our consolidated balance sheet; and • segment reporting and geographic information in connection with the commercial reorganization that went into effect on January 1, 2024 (see Notes 9 and 1 7 ). Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts.
New Accounting Standard Adopted in 2024	New Accounting Standards Adopted in 2024 On January 1, 2024, we adopted a new accounting standard which clarifies that contractual sale restrictions are not considered in measuring equity securities at fair value. The new guidance is consistent with our existing policy; therefore, it had no impact on our consolidated financial statements. In the fourth quarter of 2024, we adopted a new accounting standard which requires the disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, other segment items by reportable segment and a description of its composition. See Note 17A .
Estimates and Assumptions	Estimates and Assumptions In preparing these financial statements, we use certain estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions can impact all elements of our financial statements. For example, in the consolidated statements of operations, estimates are used when accounting for deductions from revenues, determining the cost of inventory that is sold, allocating cost in the form of depreciation and amortization, and estimating restructuring charges and the impact of contingencies, as well as determining provisions for taxes on income. On the consolidated balance sheets, estimates are used in determining the valuation and recoverability of assets, and in determining the reported amounts of liabilities, all of which also impact the consolidated statements of operations. Certain estimates of fair value and amounts recorded in connection with acquisitions, revenue deductions, impairment reviews, restructuring-associated charges, investments and financial instruments, valuation allowances, pension and postretirement benefit plans, contingencies, share-based compensation, and other calculations can result from a complex series of judgments about future events and uncertainties and can rely heavily on estimates and assumptions. Our estimates are often based on complex judgments and assumptions that we believe to be reasonable, but that can be inherently uncertain and unpredictable. If our estimates and assumptions are not representative of actual outcomes, our results could be materially impacted. As future events and their effects cannot be determined with precision, our estimates and assumptions may prove to be incomplete or inaccurate, or unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. We are subject to risks and uncertainties that may cause actual results to differ from estimated amounts, such as changes in the healthcare environment, competition, litigation, legislation, development of competing assets by us or others, regulatory actions, or product recalls or withdrawals. We regularly evaluate our estimates and assumptions using historical experience and expectations about the future. We adjust our estimates and assumptions when facts and circumstances indicate the need for change.
Acquisitions	Acquisitions Our consolidated financial statements include the operations of acquired businesses after the completion of the acquisitions. We account for acquired businesses using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date and that the fair value of acquired IPR&D be recorded on the balance sheet. Transaction costs are expensed as incurred. Any excess of the consideration transferred over the assigned values of the net assets acquired is recorded as goodwill. When we acquire net assets that do not constitute a business, as defined in U.S. GAAP, no goodwill is recognized and acquired IPR&D is expensed in Acquired in-process research and development expenses . Contingent consideration in a business combination is included as part of the acquisition cost and is recognized at fair value as of the acquisition date. Fair value is generally estimated by using a probability-weighted discounted cash flow approach. See Note 16D . Any liability resulting from contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. These changes in fair value are recognized in earnings in Other (income)/deductions––net .
Fair Value	Fair Value We measure certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. We estimate fair value using an exit price approach, which requires, among other things, that we determine the price that would be received to sell an asset or paid to transfer a liability in an orderly market. The determination of an exit price is considered from the perspective of market participants, considering the highest and best use of non-financial assets and, for liabilities, assuming that the risk of non-performance will be the same before and after the transfer. When estimating fair value, depending on the nature and complexity of the asset or liability, we may use one or all of the following techniques: • Income approach, which is based on the present value of a future stream of net cash flows. • Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities. • Cost approach, which is based on the cost to acquire or construct comparable assets, less an allowance for functional and/or economic obsolescence. Our fair value methodologies depend on the following types of inputs: • Quoted prices for identical assets or liabilities in active markets (Level 1 inputs). • Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are directly or indirectly observable, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means (Level 2 inputs). • Unobservable inputs that reflect estimates and assumptions (Level 3 inputs). The following inputs and valuation techniques are used to estimate the fair value of our financial assets and liabilities: • Available-for-sale debt securities—third-party matrix-pricing model that uses significant inputs derived from or corroborated by observable market data and credit-adjusted yield curves. • Equity securities with readily determinable fair values—quoted market prices and observable NAV prices. • Derivative assets and liabilities—third-party matrix-pricing model that uses inputs derived from or corroborated by observable market data. Where applicable, these models use market-based observable inputs, including interest rate yield curves to discount future cash flow amounts, and forward and spot prices for currencies. The credit risk impact to our derivative financial instruments was not significant. • Money market funds—observable NAV prices. We periodically review the methodologies, inputs and outputs of third-party pricing services for reasonableness. Our procedures can include, for example, referencing other third-party pricing models, monitoring key observable inputs (like benchmark interest rates) and selectively performing test-comparisons of values with actual sales of financial instruments.
Foreign Currency Translation	Foreign Currency Translation For most of our international operations, local currencies have been determined to be the functional currencies. We translate functional currency assets and liabilities to their U.S. dollar equivalents at exchange rates in effect as of the balance sheet date and income and expense amounts at average exchange rates for the period. The U.S. dollar effects that arise from changing translation rates are recorded in Other comprehensive income/(loss) . The effects of converting non-functional currency monetary assets and liabilities into the functional currency are recorded in Other (income)/deductions––net . For operations in highly inflationary economies, we translate monetary items at rates in effect as of the balance sheet date, with translation adjustments recorded in Other (income)/deductions––net , and we translate non-monetary items at historical rates.
Revenues and Collaborative Arrangements	Revenue Recognition ––We record revenues from product sales when there is a transfer of control of the product from us to the customer. We typically determine transfer of control based on when the product is shipped or delivered and title passes to the customer. For certain contracts, the finished product may temporarily be stored at our or our third-party subcontractors’ locations under a bill-and-hold arrangement. Revenue is recognized on bill-and-hold arrangements at the point in time when the customer obtains control of the product and all of the following criteria have been met: the arrangement is substantive; the product is identified separately as belonging to the customer; the product is ready for physical transfer to the customer; and we do not have the ability to use the product or direct it to another customer. In bill-and-hold arrangements which are part of the U.S. SNS, we recognize revenue for the product sale when the product is initially placed into the U.S. SNS and we provide a rotation service to maintain an agreed upon level of shelf life for product in the stockpile. In determining when the customer obtains control of the product, we consider certain indicators, including whether we have a present right to payment from the customer, whether title and/or significant risks and rewards of ownership have transferred to the customer and whether customer acceptance has been received. Our Sales Contracts ––Sales on credit are typically under short-term contracts. Collections are based on market payment cycles common in various markets, with shorter cycles in the U.S. Sales are adjusted for sales allowances, chargebacks, rebates and sales returns and cash discounts. Sales returns may occur due to patent-based expirations or loss of regulatory exclusivity, product recalls or a changing competitive environment. Deductions from Revenues ––Our gross product revenues are subject to a variety of deductions, which generally are estimated and recorded in the same period that the revenues are recognized. Such variable consideration represents chargebacks, rebates, sales allowances and sales returns. These deductions represent estimates of the related obligations and, as such, knowledge and judgment is required when estimating the impact of these product revenue deductions on gross sales for a reporting period. Provisions for pharmaceutical sales returns–– Provisions are based on a calculation for each market that incorporates the following, as appropriate: local returns policies and practices; historical returns as a percentage of sales; an understanding of the reasons for past returns; estimated shelf life by product; an estimate of the amount of time between shipment and return or lag time; and any other factors that could impact the estimate of future returns, such as patent-based expirations or loss of regulatory exclusivity, product recalls or a changing competitive environment. Generally, returned products are destroyed, and customers are refunded the sales price in the form of a credit. We record sales incentives as a reduction of revenues at the time the related revenues are recorded or when the incentive is offered, whichever is later. We estimate the cost of our sales incentives based on our historical experience with similar incentives programs to predict customer behavior. The following outlines our common sales arrangements: • Customers ––Our prescription biopharmaceutical products, with the exception of Paxlovid in 2022 and 2023, are sold principally to wholesalers, but we also sell directly to retailers, hospitals, clinics, government agencies and pharmacies. In 2022 and 2023, we principally sold Paxlovid globally to government agencies. Our vaccines in the U.S. are primarily sold directly to the federal government (including the CDC), wholesalers, individual provider offices, retail pharmacies and integrated delivery systems. Our vaccines outside the U.S. are primarily sold to government and non-government institutions. Certain products in our portfolio are subject to seasonality of demand and Paxlovid revenues trend with infection rates. Prescription pharmaceutical products that ultimately are used by patients are generally covered under governmental programs, managed care programs and insurance programs, including those managed through PBMs in the U.S; and are subject to sales allowances and/or rebates payable directly to those programs. Those sales allowances and rebates are generally negotiated, but government programs may have legislated amounts by type of product (e.g., patented or unpatented). Specifically: • In the U.S., we sell our products principally to distributors and hospitals. We also have contracts with managed care programs or PBMs and legislatively mandated contracts with the federal and state governments under which we provide rebates based on medicines utilized by the lives they cover. We record provisions for Medicare, Medicaid, and performance-based contract pharmaceutical rebates based upon our experience ratio of rebates paid and actual prescriptions written during prior periods. We apply the experience ratio to the respective period’s sales to determine the rebate accrual and related expense. This experience ratio is evaluated regularly to ensure that the historical trends are as current as practicable. We estimate discounts on branded prescription drug sales in prior periods to Medicare Part D participants in the Medicare “coverage gap,” also known as the “doughnut hole,” and as of December 31, 2024 in the initial coverage and catastrophic phases under the Manufacturer Discount Program based on the historical experience of beneficiary prescriptions and consideration of the utilization that is expected to result from the discount in the coverage gap or from the manufacturer’s discount, respectively. We evaluate this estimate regularly to ensure that the historical trends and future expectations are as current as practicable. For performance-based contract rebates, we also consider current contract terms, such as changes in formulary status and rebate rates. • Outside the U.S., the majority of our pharmaceutical sales allowances are contractual or legislatively mandated and our estimates are based on actual invoiced sales within each period, which reduces the risk of variations in the estimation process. In certain European countries, rebates are calculated on the government’s total unbudgeted pharmaceutical spending or on specific product sales thresholds and we apply an estimated allocation factor against our actual invoiced sales to project the expected level of reimbursement. We obtain third-party information that helps us to monitor the adequacy of these accruals. • Provisions for pharmaceutical chargebacks (primarily reimbursements to U.S. wholesalers for honoring contracted prices and legislated discounts to third parties) closely approximate actual amounts incurred, as we settle these deductions generally within two to five weeks of incurring the liability. We recorded revenues of more than $1 billion for each of 11 products in 2024, for each of nine products in 2023 and for each of ten products in 2022, and these revenues represented 66%, 64% and 82% of our Total revenues in 2024, 2023 and 2022, respectively. See Note 17C . The loss or expiration of intellectual property rights can have a significant adverse effect on our revenues as our contracts with customers will generally be at lower selling prices and lower volumes due to added generic competition. We generally provide for higher sales returns during the period in which individual markets begin to near the loss or expiration of intellectual property rights. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from Product revenues . Payments to and from our collaboration partners are presented in our consolidated statements of operations based on the nature of the arrangement (including its contractual terms), the nature of the payments and applicable accounting guidance. Under co-commercialization agreements, we record the amounts received for our share of gross profits from our collaboration partners as Alliance revenues, when our collaboration partners are the principal in the transaction and we receive a share of their net sales or profits. Alliance revenues are recorded as we perform co-promotion activities for the collaboration and the collaboration partners sell the products to their customers. The related expenses for selling and marketing these products including reimbursements to or from our collaboration partners for these costs are included in Selling, informational and administrative expenses. In collaborative arrangements where we manufacture a product for our collaboration partners, we record revenues when we transfer control of the product to our collaboration partners. In collaboration arrangements where we are the principal in the transaction, we record amounts paid to collaboration partners for their share of net sales or profits earned, and all royalty payments to collaboration partners as Cost of sales . Royalty payments received from collaboration partners are included in Royalty revenues. Reimbursements to or from our collaboration partners for development costs are typically recorded in Research and development expenses . Upfront payments and pre-approval milestone payments due from us to our collaboration partners in development stage collaborations are recorded as Acquired in-process r esearch and development expenses . Milestone payments due from us to our collaboration partners after regulatory approval has been attained for a medicine are recorded in Identifiable intangible assets —developed technology rights. Upfront and pre-approval milestone payments earned from our collaboration partners by us are recognized in Other (income)/deductions—net over the development period for the products, when our performance obligations include providing R&D services to our collaboration partners. Upfront, pre-approval and post-approval milestone payments earned by us may be recognized in Other (income)/deductions—net immediately when earned or over other periods depending upon the nature of our performance obligations in the applicable collaboration. Where the milestone event is regulatory approval for a medicine, we generally recognize milestone payments due to us in the transaction price when regulatory approval in the applicable jurisdiction has been attained. We may recognize milestone payments due to us in the transaction price earlier than the milestone event in certain circumstances when recognition of the income would not be probable of a significant reversal.
Trade Accounts Receivable	Trade Accounts Receivable —Trade accounts receivable are stated at their net realizable value. The allowance for credit losses reflects our best estimate of expected credit losses of the receivables portfolio determined on the basis of historical experience, current information, and forecasts of future economic conditions. In developing the estimate for expected credit losses, trade accounts receivables are segmented into pools of assets depending on market (U.S. versus international), delinquency status, and customer type (high risk versus low risk and government versus non-government), and fixed reserve percentages are established for each pool of trade accounts receivables. In determining the reserve percentages for each pool of trade accounts receivables, we considered our historical experience with certain customers and customer types, regulatory and legal environments, country and political risk, and other relevant current and future forecasted macroeconomic factors. These credit risk indicators are monitored on a quarterly basis to determine whether there have been any changes in the economic environment that would indicate the established reserve percentages should be adjusted, and are considered on a regional basis to reflect more geographic-specific metrics. Additionally, write-offs and recoveries of customer receivables are tracked against collections on a quarterly basis to determine whether the reserve percentages remain appropriate. When management becomes aware of certain customer-specific factors that impact credit risk, specific allowances for these known troubled accounts are recorded. Trade accounts receivable are written off after all reasonable means to collect the full amount (including litigation, where appropriate) have been exhausted. During 2024 and 2023, additions to the allowance for credit losses, write-offs and recoveries of customer receivables were not material to our consolidated financial statements.
Cost of Sales and Inventories	Cost of Sales and Inventories Inventories are recorded at the lower of cost or net realizable value. The cost of finished goods, work in process and raw materials is determined using average actual cost. We regularly review our inventories for impairment and reserves are established when necessary. Inventories that are not expected to be sold within 12 months are classified as Other noncurrent assets . See Note 8A .
Selling, Informational and Administrative Expenses	Selling, Informational and Administrative ExpensesSelling, informational and administrative costs are expensed as incurred. Among other things, these expenses include the internal and external costs of marketing, advertising, shipping and handling, digital and legal defense.
Research and Development Expenses	Research and Development Expenses R&D costs are expensed as incurred. These expenses include the costs of our proprietary R&D efforts, as well as R&D activities performed in connection with certain licensing arrangements.
Acquired In-Process Research and Development Expenses	Acquired In-Process Research and Development Expenses Before a compound receives regulatory approval, we record upfront and milestone payments we make to third parties under licensing and collaboration arrangements as expense. Upfront payments are recorded when incurred, and milestone payments are recorded when the specific milestone has been achieved. Once a compound receives regulatory approval, we record any milestone payments in Identifiable intangible assets, less accumulated amortization and, unless the asset is determined to have an indefinite life, we typically amortize the payments on a straight-line basis over the remaining agreement term or the expected product life cycle, whichever is shorter. Acquired in-process research and development expenses includes costs incurred in connection with (a) all upfront and milestone payments on collaboration and in-license agreements, including premiums on equity securities and (b) asset acquisitions of acquired IPR&D.
Property, Plant and Equipment	Property, plant and equipment, net —These assets are recorded at cost, including any significant improvements after purchase, less accumulated depreciation. Property, plant and equipment assets, other than land and construction in progress, are depreciated on a straight-line basis over the estimated useful life of the individual assets. Depreciation begins when the asset is ready for its intended use. For tax purposes, accelerated depreciation methods are used as allowed by tax laws.
Intangible Assets and Goodwill	Identifiable intangible assets, net —These assets are recorded at fair value at acquisition. Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. Intangible assets with indefinite lives are not amortized until a useful life can be determined. • Goodwill —Goodwill represents the excess of the consideration transferred for an acquired business over the assigned values of its net assets. Goodwill is not amortized. Amortization of finite-lived acquired intangible assets is included in Amortization of intangible assets. Specifically: • For finite-lived intangible assets, such as developed technology rights, and for other long-lived assets, such as property, plant and equipment, whenever impairment indicators are present, we calculate the undiscounted value of the projected cash flows for the asset, or asset group, and compare this estimated amount to the carrying amount. If the carrying amount is greater, we record an impairment loss for the excess of book value over fair value. In addition, we reevaluate the remaining useful lives of the assets and modify them, as appropriate. • For indefinite-lived intangible assets, such as brands and IPR&D assets, when necessary, we determine the fair value of the asset and record an impairment loss, if any, for the excess of book value over fair value. In addition, in all cases of an impairment review other than for IPR&D assets, we re-evaluate whether continuing to characterize the asset as indefinite-lived is appropriate. • For goodwill, when necessary, we determine the fair value of each reporting unit and record an impairment loss, if any, for the excess of the book value of the reporting unit over the implied fair value.
Property, Plant and Equipment, Impairment	We review our long-lived assets for impairment indicators throughout the year. We perform impairment testing for indefinite-lived intangible assets and goodwill at least annually and for all other long-lived assets whenever impairment indicators are present. When necessary, we record impairments of long-lived assets for the amount by which the fair value is less than the carrying value of these assets.
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives	Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives We incur restructuring charges in connection with acquisitions when we implement plans to restructure and integrate the acquired operations or in connection with our cost-reduction and productivity initiatives. • In connection with acquisition activity, we typically incur costs associated with executing the transactions, integrating the acquired operations (which may include expenditures for consulting and the integration of systems and processes), and restructuring the combined company (which may include charges related to employees, assets and activities that will not continue in the combined company); and • In connection with our cost-reduction/productivity initiatives, we typically incur costs and charges for site closings and other facility rationalization actions, workforce reductions and the expansion of shared services, including the development of global systems. Included in Restructuring charges and certain acquisition-related costs are all restructuring charges, as well as certain other costs associated with acquiring and integrating an acquired company. If the restructuring action results in a change in the estimated useful life of an asset, that incremental impact is classified in Cost of sales, Selling, informational and administrative expenses and/or Research and development expenses , as appropriate. Employee termination costs are generally recorded when the actions are probable and estimable and include accrued severance benefits, pension and postretirement benefits, many of which may be paid out during periods after termination. Transaction costs, such as banking, legal, accounting and other similar costs incurred in connection with a business acquisition are expensed as incurred . Our business may be impacted by these actions, including sales and marketing, manufacturing and R&D, as well as our corporate enabling functions.
Cash Equivalents	Cash equivalents include items almost as liquid as cash, such as certificates of deposit and time deposits with maturity periods of three months or less when purchased. If items meeting this definition are part of a larger investment pool, we classify them as Short-term investments .
Statement of Cash Flows	Cash flows for financial instruments designated as fair value or cash flow hedges may be included in operating, investing or financing activities, depending on the classification of the items being hedged. Cash flows for financial instruments designated as net investment hedges are classified according to the nature of the hedging instrument. Cash flows for financial instruments that do not qualify for hedge accounting treatment are classified according to their purpose and accounting nature.
Investments	Investments and Derivative Financial Instruments The classification of an investment depends on the nature of the investment, our intent and ability to hold the investment, and the degree to which we may exercise influence. Our investments are primarily comprised of the following: • Public equity securities with readily determinable fair values, which are carried at fair value, with changes in fair value reported in Other (income)/deductions—net. • Available-for-sale debt securities, which are carried at fair value, with changes in fair value reported in Other comprehensive income/(loss) until realized. • Held-to-maturity debt securities, which are carried at amortized cost. • Private equity securities without readily determinable fair values and where we have no significant influence are measured at cost minus any impairment and plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. • For equity investments in common stock or in-substance common stock where we have significant influence over the financial and operating policies of the investee, we use the equity-method of accounting. Under the equity-method, we record our share of the investee’s income and expenses in Other (income)/deductions—net . The excess of the cost of the investment over our share of the underlying equity in the net assets of the investee as of the acquisition date is allocated to the identifiable assets and liabilities of the investee, with any remaining excess amount allocated to goodwill. Such investments are initially recorded at cost, which is the fair value of consideration paid and typically does not include contingent consideration. Realized gains or losses on sales of investments are determined by using the specific identification cost method. We regularly evaluate all of our financial assets for impairment. For investments in debt and equity, if and when a decline in fair value is determined, an impairment charge is recorded and a new cost basis in the investment is established. For equity-method investments, an impairment charge is recorded only if and when a decline in fair value is determined to be other-than-temporary.
Derivative Financial Instruments	Derivative financial instruments are carried at fair value in certain balance sheet categories (see Note 7A ), with changes in fair value reported in net income or, for certain qualifying hedging relationships, in
Tax Assets and Liabilities and Income Tax Contingencies	Tax Assets and Liabilities and Income Tax Contingencies Tax Assets and Liabilities –– Current tax assets primarily include (i) tax effects for intercompany transfers of inventory within our combined group, which are recognized in the consolidated statements of operations when the inventory is sold to a third party and (ii) income tax receivables that are expected to be recovered either via refunds from taxing authorities or reductions to future tax obligations. Deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates and laws. We provide a valuation allowance when we believe that our deferred tax assets are not recoverable based on an assessment of estimated future taxable income that incorporates ongoing, prudent and feasible tax-planning strategies, that would be implemented, if necessary, to realize the deferred tax assets. Amounts recorded for valuation allowances requires judgments about future income which can depend heavily on estimates and assumptions. All deferred tax assets and liabilities within the same tax jurisdiction are presented as a net amount in the noncurrent section of our consolidated balance sheet. The TCJA subjects a U.S. shareholder to current tax on global intangible low-taxed income earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income , states that we are permitted to make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as global intangible low-taxed income in future years or provide for the tax expense related to such income in the year the tax is incurred. We elected to recognize deferred taxes for temporary differences expected to reverse as global intangible low-taxed income in future years. Other non-current tax assets primarily represent our estimate of the potential tax benefits in one tax jurisdiction that could result from the payment of income taxes in another tax jurisdiction. These potential benefits generally result from cooperative efforts among taxing authorities, as required by tax treaties to minimize double taxation, commonly referred to as the competent authority process. The recoverability of these assets, which we believe to be more likely than not, is dependent upon the actual payment of taxes in one tax jurisdiction and, in some cases, the successful petition for recovery in another tax jurisdiction. Other taxes payable as of December 31, 2024 and 2023 include liabilities for uncertain tax positions and the noncurrent portion of the repatriation tax liability for which we elected payment over eight years through 2026. See Note 5D for uncertain tax positions and Note 5A for the repatriation tax liability and other estimates and assumptions in connection with the TCJA. Income Tax Contingencies ––We account for income tax contingencies using a benefit recognition model. If we consider that a tax position is more likely than not to be sustained upon audit, based solely on the technical merits of the position, we recognize all or a portion of the benefit. We measure the benefit by determining the amount that is greater than 50% likely of being realized upon settlement, presuming that the tax position is examined by the taxing authority with full knowledge of all relevant information. We regularly monitor our position and subsequently recognize the unrecognized tax benefit: (i) if there are changes in tax law, analogous case law or there is new information that sufficiently raise the likelihood of prevailing on the technical merits of the position to “more likely than not”; (ii) if the statute of limitations expires; or (iii) if there is a completion of an audit resulting in a favorable settlement of that tax year with the appropriate agency. Liabilities for uncertain tax positions are classified as current only when we expect to pay cash within the next 12 months. Interest and penalties, if any, are recorded in Provision/(benefit) for taxes on income and are classified on our consolidated balance sheet with the related tax liability. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but our estimates of unrecognized tax benefits and potential tax benefits may not be representative of actual outcomes, and variation from such estimates could materially affect our financial statements in the period of settlement or when the statutes of limitations expire, as we treat these events as discrete items in the period of resolution.
Pension and Postretirement Benefit Plans	Pension and Postretirement Benefit Plans The majority of our employees worldwide are covered by defined benefit pension plans, defined contribution plans or both. In the U.S., we have both IRC-qualified and supplemental (non-qualified) defined benefit plans and defined contribution plans, as well as other postretirement benefit plans consisting primarily of medical insurance for retirees and their eligible dependents. Net periodic pension and postretirement benefit costs other than the service costs are recognized in Other (income)/deductions—net . We immediately recognize actuarial gains and losses arising from the remeasurement of our pension and postretirement plans (mark-to-market accounting). Each time a pension or postretirement plan is remeasured, the actuarial gain or loss is recognized immediately and classified as Other (income)/deductions––net . We recognize the overfunded or underfunded status of each of our defined benefit plans as an asset or liability. The obligations are generally measured at the actuarial present value of all benefits attributable to employee service rendered, as provided by the applicable benefit formula. Our pension and other postretirement obligations may be determined using assumptions such as discount rate, expected annual rate of return on plan assets, expected employee turnover and participant mortality. For our pension plans, the obligation may also include assumptions as to future compensation levels. For our other postretirement benefit plans, the obligation may include assumptions as to the expected cost of providing medical insurance benefits, as well as the extent to which those costs are shared with the employee or others (such as governmental programs). Plan assets are measured at fair value.
Legal and Environmental Contingencies	Legal and Environmental Contingencies We and certain of our subsidiaries are subject to numerous contingencies arising in the ordinary course of business, such as patent litigation, product liability and other product-related litigation, commercial and other asserted or unasserted matters, environmental claims and proceedings, government investigations and guarantees and indemnifications. In assessing contingencies related to legal and environmental proceedings that are pending against the Company, or unasserted claims that are probable of being asserted, we record accruals for these contingencies to the extent that we conclude that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, we accrue that amount. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, we accrue the lowest amount in the range. We record anticipated recoveries under existing insurance contracts when recovery is assured.
Share-Based Payments	Share-Based Payments Our compensation programs include share-based payments. Generally, grants under share-based payment programs are accounted for at fair value and these fair values are generally amortized on a straight-line basis or on an accelerated attribution approach over the vesting terms with the related costs recorded in Cost of sales, Selling, informational and administrative expenses and/or Research and development expenses , as appropriate.
Leases	We lease real estate, fleet, and equipment for use in our operations. Our leases generally have lease terms of 1 to 30 years, some of which include options to terminate or extend leases for up to 5 to 10 years or on a month-to-month basis. We include options that are reasonably certain to be exercised as part of the determination of lease terms. We may negotiate termination clauses in anticipation of any changes in market conditions, but generally these termination options have not been exercised. Residual value guarantees are generally not included within our operating leases with the exception of some fleet leases. In addition to base rent payments, the leases may require us to pay directly for taxes and other non-lease components, such as insurance, maintenance and other operating expenses, which may be dependent on usage or vary month-to-month. Variable lease payments amounted to $517 million in 2024, $444 million in 2023 and $536 million in 2022. We elected the practical expedient to not separate non-lease components from lease components in calculating the amounts of ROU assets and lease liabilities for all underlying asset classes. We determine if an arrangement is a lease at inception of the contract and we perform the lease classification test as of the lease commencement date. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at commencement date in determining the present value of future payments.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Information About Balance Sheet Classification of Accruals	Our accruals for Medicare, Medicaid and related state program and performance-based contract rebates, chargebacks, sales allowances and sales returns and cash discounts are as follows: As of December 31, (MILLIONS) 2024 2023 Reserve against Trade accounts receivable, less allowance for doubtful accounts $ 1,627 $ 1,770 Other current liabilities : Accrued rebates 7,195 5,546 Other accruals 972 902 Other noncurrent liabilities 1,029 796 Total accrued rebates and other sales-related accruals $ 10,822 $ 9,014

Acquisitions, Divestitures, E_2

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combinations, Discontinued Operations And Disposal Groups, Collaborative Arrangements And Equity Method Investments [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the amounts recognized for assets acquired and liabilities assumed as of the acquisition date, as well as adjustments made in 2024 to the amounts initially recorded in 2023 (measurement period adjustments) with a corresponding change to goodwill. The measurement period adjustments did not have a material impact on our earnings in any period. The final allocation of the consideration transferred to the assets acquired and the liabilities assumed has been completed. (MILLIONS) Amounts Recognized as of Acquisition Date (as previously reported as of December 31, 2023) Measurement Period Adjustments (a) Amounts Recognized as of Acquisition Date (as adjusted) Final Working capital, excluding inventories (b) $ 736 $ (115) $ 621 Inventories (c) 4,195 (922) 3,273 Property, plant and equipment 524 (243) 280 Identifiable intangible assets, excluding in-process research and development (d) 7,970 (50) 7,920 In-process research and development 20,800 (900) 19,900 Other noncurrent assets 174 (115) 59 Net income tax accounts (e) (6,123) 1,343 (4,779) Other noncurrent liabilities (167) (20) (187) Total identifiable net assets 28,108 (1,022) 27,086 Goodwill 16,126 1,022 17,148 Net assets acquired/total consideration transferred $ 44,234 $ — $ 44,234 (a) The changes in the estimated fair values are to better reflect market participant assumptions about facts and circumstances existing as of the acquisition date. The measurement period adjustments did not result from intervening events subsequent to the acquisition date. (b) Includes cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued compensation and other current liabilities. (c) As adjusted, comprised of $1.1 billion current inventories and $2.1 billion noncurrent inventories. (d) As adjusted, comprised mainly of $7.5 billion of finite-lived developed technology rights with an estimated weighted-average life of approximately 18 years. (e) As adjusted, included primarily in Noncurrent deferred tax liabilities. The measurement period adjustments primarily reflect the tax impact of the pre-tax measurement period adjustments.
Schedule of Pro Forma Information	The following table presents information for Seagen’s operations that are included in Pfizer’s consolidated statements of operations beginning from the acquisition date, December 14, 2023, through Pfizer’s year-end in 2023: (MILLIONS) December 31, 2023 Revenues $ 132 Net loss attributable to Pfizer Inc. common shareholders (a) (746) (a) Includes restructuring, integration and acquisition-related costs ($614 million pre-tax) and purchase accounting charges related to (i) the fair value adjustment for acquisition-date inventory estimated to have been sold ($109 million pre-tax); (ii) amortization expense related to the fair value of identifiable intangible assets acquired from Seagen ($25 million pre-tax); as well as (iii) depreciation expense related to the fair value adjustment of fixed assets acquired from Seagen ($2 million pre-tax). The following table provides unaudited U.S. GAAP supplemental pro forma information as if the acquisition of Seagen had occurred on January 1, 2022: Unaudited Supplemental Pro Forma Consolidated Results Year Ended December 31, (MILLIONS, EXCEPT PER SHARE DATA) 2023 2022 Revenues $ 61,893 $ 103,137 Net income/(loss) attributable to Pfizer Inc. common shareholders (1,481) 27,870 Diluted earnings/(loss) per share attributable to Pfizer Inc. common shareholders (0.26) 4.86
Summarized Financial Information of Equity Method Investments	The following table summarizes the change in the carrying value of our investment in Haleon: Year Ended December 31, (MILLIONS) 2024 2023 Beginning carrying value reported in Equity-method investments $ 11,451 $ 10,824 Carrying value of shares sold (6,113) — Dividends (212) (153) Currency translation adjustments and other (a) 341 293 Basis difference adjustments and amortization (b), (c) (91) (2) Pfizer share of Haleon investee capital transaction (b), (d) (44) — Pfizer share of Haleon earnings (b) 224 489 Reclassification of accumulated other comprehensive income balances in Equity-method investments (e) (143) — Transfer of carrying value to Short-term investments (f) (5,411) — Ending carrying value $ — $ 11,451 (a) See Note 6 . (b) Included in Other (income)/deductions –– net . (c) Adjustments in 2024 include (i) the impact of Haleon’s brand divestitures and impairments of intangible assets and (ii) changes in Haleon’s tax rates on intangible asset-related deferred tax liabilities. (d) In 2024, includes (i) a decrease of $91 million recorded in the second quarter of 2024 for Pfizer’s share of an investee capital transaction recognized by Haleon for treasury stock Haleon purchased in the first quarter of 2024 and (ii) an increase of $46 million recorded in the third quarter of 2024 for the impact of the reduction in Pfizer’s ownership from approximately 32% to approximately 23% as applied to dividends with a record date in the first quarter of 2024, which were recognized in Haleon’s second quarter 2024 financial statements. (e) The 2024 activity primarily represent foreign currency translation balances in Accumulated other comprehensive income related to the equity-method investment in Haleon that were reclassified into Equity-method investments upon our loss of significant influence over Haleon and our discontinuance of the equity method for the Haleon investment. (f) The final carrying value of our equity-method investment in Haleon was reclassified to Short-term investments and is being accounted for as an equity investment with a readily determinable fair value. Summarized financial information for Haleon as of September 30, 2024, the most recent period available, and as of September 30, 2023 and for the periods ending September 30, 2024, 2023, and 2022 is as follows: (MILLIONS) September 30, 2024 September 30, 2023 Current assets $ 7,813 $ 5,876 Noncurrent assets 37,572 36,954 Total assets $ 45,385 $ 42,830 Current liabilities $ 7,468 $ 6,117 Noncurrent liabilities 15,511 15,744 Total liabilities $ 22,979 $ 21,862 Equity attributable to shareholders $ 22,129 $ 20,719 Equity attributable to noncontrolling interests 277 249 Total net equity $ 22,406 $ 20,968 For the Twelve Months Ended (MILLIONS) September 30, 2024 September 30, 2023 September 30, 2022 Net sales $ 14,252 $ 13,921 $ 13,566 Cost of sales (5,656) (5,580) (5,081) Gross profit $ 8,596 $ 8,341 $ 8,486 Income from continuing operations 1,668 1,606 1,745 Net income 1,668 1,606 1,745 Income attributable to shareholders 1,600 1,528 1,675 Summarized financial information for our equity-method investee, ViiV, as of December 31, 2024 and 2023 and for the years ending December 31, 2024, 2023, and 2022 is as follows: As of December 31, (MILLIONS) 2024 2023 Current assets $ 4,338 $ 4,237 Noncurrent assets 3,223 3,009 Total assets $ 7,561 $ 7,245 Current liabilities $ 4,280 $ 4,085 Noncurrent liabilities 6,205 5,998 Total liabilities $ 10,485 $ 10,083 Total net equity/(deficit) attributable to shareholders $ (2,924) $ (2,838) Year Ended December 31, (MILLIONS) 2024 2023 2022 Net sales $ 8,971 $ 7,845 $ 6,955 Cost of sales (1,360) (1,060) (819) Gross profit $ 7,611 $ 6,785 $ 6,135 Income from continuing operations 3,062 3,090 3,108 Net income 3,062 3,090 3,108 Income attributable to shareholders 3,062 3,090 3,108
Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions	The following provides the amounts and classification of payments (income/(expense)) between us and our collaboration partners: Year Ended December 31, (MILLIONS) 2024 2023 2022 Product revenues (a) $ 175 $ 212 $ 437 Alliance revenues (b) 8,388 7,582 8,537 Royalty revenues (c) 923 605 614 Total revenues from collaborative arrangements $ 9,486 $ 8,400 $ 9,588 Cost of sales (d) $ (2,901) $ (4,277) $ (15,589) Selling, informational and administrative expenses (e) (335) (267) (196) Research and development expenses (f) 282 219 272 Acquired in-process research and development expenses (g) 2 (13) (339) Restructuring charges and certain acquisition-related costs (h) (45) — — Other income/(deductions)—net (15) 25 50 (a) Represents sales to our partners of products manufactured by us. (b) Substantially all relates to amounts earned from our partners under co-promotion agreements. The increase in 2024 was primarily driven by an increase in Alliance revenues from Eliquis and Xtandi, partially offset by a decrease in Alliance revenues from Bavencio. The decrease in 2023 was primarily driven by a decline in Alliance revenues from Comirnaty, partially offset by an increase in Alliance revenues from Eliquis. (c) Primarily relates to royalties from our collaboration partners. (d) Primarily relates to amounts paid to collaboration partners for their share of net sales or profits earned in collaboration arrangements where we are the principal in the transaction, and cost of sales for inventory purchased from our partners. The decreases in 2024 and in 2023 primarily relate to Comirnaty. (e) Represents net reimbursements to our partners for selling, informational and administrative expenses incurred. (f) Represents net reimbursements from our partners for research and development expenses incurred. (g) Primarily relates to upfront payments to our partners as well as premiums paid on our equity investments in the common stock of our partners. (h) Relates to exit costs associated with terminating a collaboration with SMPS.

Restructuring Charges and Oth_2

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule Providing Components of Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives	The following summarizes costs and credits for acquisitions and cost-reduction/productivity initiatives: Year Ended December 31, (MILLIONS) 2024 2023 2022 Restructuring charges/(credits): Employee terminations $ 1,152 $ 1,622 $ 776 Asset impairments 432 227 52 Exit costs 403 119 54 Restructuring charges/(credits) (a) 1,987 1,968 882 Transaction costs (b) 5 190 144 Integration costs and other (c) 427 785 348 Restructuring charges and certain acquisition-related costs 2,419 2,943 1,375 Net periodic benefit costs/(credits) recorded in Other (income)/deductions––net 7 (7) (9) Additional depreciation––asset restructuring recorded in our consolidated statements of operations as follows (d) : Cost of sales 14 31 34 Selling, informational and administrative expenses 5 1 2 Total additional depreciation––asset restructuring 19 32 36 Implementation costs recorded in our consolidated statements of operations as follows (e) : Cost of sales 120 67 54 Selling, informational and administrative expenses 90 289 560 Research and development expenses 84 101 2 Total implementation costs 294 457 616 Total costs associated with acquisitions and cost-reduction/productivity initiatives $ 2,738 $ 3,426 $ 2,018 (a) Primarily represents cost-reduction initiatives. Amounts associated with our Biopharma segment: charges of $1.8 billion for 2024 (including charges of $1.2 billion for our Manufacturing Optimization Program and charges of $571 million for our Realigning our Cost Base Program), $1.5 billion for 2023 (including charges of $1.4 billion for our Realigning our Cost Base Program and charges of $3 million for our Transforming to a More Focused Company program, that we have substantially completed) and $796 million for 2022 (including charges of $601 million for our Transforming to a More Focused Company program). (b) Represents external costs for banking, legal, accounting and other similar services. (c) Represents external, incremental costs directly related to integrating acquired businesses, such as expenditures for consulting and the integration of systems and processes, and certain other qualifying costs. 2023 costs mostly relate to our acquisition of Seagen, including $476 million that was recognized as a post-closing compensation expense for payments to Seagen employees in the fourth quarter of 2023 for the fair value of long-term incentive awards that vested upon closing and the expense for employee incentive awards issued in contemplation of the merger. 2022 costs mostly related to our acquisitions of Arena and GBT, including $138 million in payments to Arena employees in the first quarter of 2022 and $136 million in payments to GBT employees in the fourth quarter of 2022 for the fair value of previously unvested long-term incentive awards that was recognized as post-closing compensation expense. See Note 2A . (d) Represents the impact of changes in the estimated useful lives of assets involved in restructuring actions. (e) Represents external, incremental costs directly related to implementing our non-acquisition-related cost-reduction/productivity initiatives.
Schedule of Restructuring Reserve by Type of Cost	The following summarizes the components and changes in restructuring accruals: (MILLIONS) Employee Asset Exit Costs Accrual Balance, January 1, 2023 $ 1,196 $ — $ 8 $ 1,204 Provision 1,622 227 119 1,968 Utilization and other (a) (840) (227) (116) (1,184) Balance, December 31, 2023 (b) 1,978 — 11 1,988 Provision 1,152 432 403 1,987 Utilization and other (a) (1,083) (432) (341) (1,856) Balance, December 31, 2024 (c) $ 2,046 $ — $ 74 $ 2,120 (a) Other activity includes adjustments for foreign currency translation that are not material to our consolidated financial statements. (b) Included in Other current liabilities ($1.3 billion) and Other noncurrent liabilities ($663 million). (c) Included in Other current liabilities ($1.7 billion) and Other noncurrent liabilities ($437 million).

Other (Income)_Deductions_Net (

Other (Income)/Deductions—Net (Tables)	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)	Components of Other (income)/deductions––net include: Year Ended December 31, (MILLIONS) 2024 2023 2022 Interest income $ (545) $ (1,624) $ (251) Interest expense (a) 3,091 2,209 1,238 Net interest expense (b) 2,546 585 987 Net (gains)/losses recognized during the period on equity securities (c) (1,008) (1,590) 1,273 Income from collaborations, out-licensing arrangements and sales of compound/product rights (42) (154) (188) Net periodic benefit costs/(credits) other than service costs 154 (610) (849) Certain legal matters, net (d) 567 474 230 Certain asset impairments (e) 3,295 3,024 421 Haleon equity method (income)/loss (f) (102) (505) (436) Other, net (g) (1,022) (1,002) (378) Other (income)/deductions––net $ 4,388 $ 222 $ 1,062 (a) Capitalized interest totaled $182 million in 2024, $160 million in 2023 and $124 million in 2022. (b) The increase in net interest expense in 2024 reflects (i) a decrease in interest income due to lower investment balances after completion of our $43.4 billion Seagen acquisition in December 2023 and (ii) higher interest expense driven by our $31 billion aggregate principal amount of senior unsecured notes issued in May 2023, as well as the remaining balance of the $8 billion of commercial paper issued in the fourth quarter of 2023, both part of the financing for our acquisition of Seagen. (c) 2024 net gains primarily include, among other things, an unrealized gain of $1.0 billion related to our investment in Haleon, which is now carried at fair value (see Note 2C ). 2023 net gains primarily included, among other things, a realized gain of $1.7 billion related to our investment in Telavant Holdings, Inc. and unrealized gains of $297 million related to our investment in Cerevel Therapeutics Holdings, Inc., partially offset by unrealized losses of $292 million related to our investment in BioNTech. 2022 net losses included, among other things, unrealized losses of $986 million related to investments in BioNTech, Allogene Therapeutics, Inc. and Arvinas. (d) 2024 primarily includes certain product liability expenses related to products discontinued and/or divested by Pfizer. 2023 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer and legal obligations related to pre-acquisition matters. 2022 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer. (e) The amount for 2024 represents intangible asset impairment charges, and includes $2.9 billion recorded in the fourth quarter associated with our Biopharma segment, due to changes in development plans and updated long-range commercial forecasts, composed of: (i) $1.0 billion for B7H4V (felmetatug vedotin), a Phase 1 IPR&D asset, (ii) $475 million for Medrol, a finite-lived brand, (iii) $435 million for Zavzpret nasal spray developed technology rights, (iv) $400 million and $200 million for Tukysa and disitamab vedotin, respectively, IPR&D assets reflecting emerging competition, as well as (v) other developed technology rights, IPR&D impairments and a finite-lived licensing agreement totaling $436 million which also includes de-prioritization of certain assets. 2024 also includes a $240 million intangible asset impairment charge, associated with our Biopharma segment that represents IPR&D related to a Phase 3 study for the treatment of DMD, which reflects unfavorable clinical trial results. The amount for 2023 primarily represented intangible asset impairment charges of $3.0 billion, of which $2.9 billion was associated with our Biopharma segment ($2.8 billion recorded in the fourth quarter), including: (i) $1.4 billion for etrasimod (Velsipity) IPR&D, based on a change in development plans for additional indications and overall revenue expectations, (ii) $964 million for Prevnar 13 developed technology rights due to updated commercial forecasts mainly reflecting a transition to vaccines with higher serotype coverage, as well as (iii) $486 million for various other IPR&D assets and developed technology rights, due to updated commercial forecasts mainly reflecting competitive pressures and/or prioritization decisions. 2023 also included $128 million associated with Other business activities, related to IPR&D and developed technology rights for acquired software assets and reflected unfavorable pivotal trial results and updated commercial forecasts. 2022 represented intangible asset impairment charges associated with our Biopharma segment of $200 million for an IPR&D asset for the unapproved indication of symptomatic dilated cardiomyopathy due to a mutation of the gene encoding the lamin A/C protein that resulted from the Phase 3 trial reaching futility at a pre-planned interim analysis and $171 million for developed technology rights due to updated commercial forecasts mainly reflecting competitive pressures. 2022 also included intangible asset impairment charges of $50 million associated with PC1, related to finite-lived licensing agreements, and reflected updated contract manufacturing forecasts reflecting changes to market dynamics. (f) See Note 2C . (g) The amount for 2024 primarily includes, among other things, (i) gains of $945 million on the partial sales of our investment in Haleon in March and October 2024, (ii) dividend income of $272 million from our investment in ViiV and (iii) a charge of $420 million recorded in the third quarter related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program . 2023 included, among other things, (i) dividend income of $265 million from our investment in ViiV and $211 million from our investment in Nimbus resulting from Takeda’s acquisition of Nimbus’s oral, selective allosteric tyrosine kinase 2 (TYK2) inhibitor program subsidiary and (ii) a $222 million gain on the divestiture of our early-stage rare disease gene therapy portfolio to Alexion. 2022 included, among other things, (i) dividend income of $314 million from our investment in ViiV, (ii) income net of costs associated with TSAs of $142 million and (iii) charges of $77 million, reflecting the change in the fair value of contingent consideration.
Schedule of Additional Information About Intangible Assets Impaired	Additional information about the intangible assets that were impaired during 2024 follows: Year Ended Fair Value (a) December 31, 2024 (MILLIONS) Amount Level 1 Level 2 Level 3 Impairment IPR&D (b) $ 4,900 $ — $ — $ 4,900 $ 1,873 Developed technology rights (b) 524 — — 524 943 Finite-lived brand (b) 270 — — 270 475 Finite-lived licensing agreement (b) — — — — 5 Total $ 5,694 $ — $ — $ 5,694 $ 3,295 (a) The fair value amounts are presented as of the date of impairment, as these assets are not measured at fair value on a recurring basis. See also Note 1E . (b) Reflects intangible assets written down to fair value in 2024. Fair value was determined using the income approach, specifically the multi-period excess earnings method, also known as the discounted cash flow method. We started with a forecast of all the expected net cash flows for the asset and then applied an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows, which includes the expected impact of competitive, legal and/or regulatory forces on the product; and assumptions about the probability of technical and regulatory success (PTRS) of ongoing clinical trials, the discount rate, which seeks to reflect the various risks inherent in the projected cash flows; and the tax rate, which seeks to incorporate the geographic diversity of the projected cash flows.

Tax Matters (Tables)

Tax Matters (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	Components of Income from continuing operations before provision/(benefit) for taxes on income include: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States $ (637) $ (4,411) $ 5,032 International 8,660 5,469 29,697 Income from continuing operations before provision/(benefit) for taxes on income ( a), (b) $ 8,023 $ 1,058 $ 34,729 (a) 2024 v. 2023 –– The reduction in the domestic loss in 2024 versus the domestic loss in 2023 is primarily attributable to increased revenues offset by higher restructuring charges and asset impairment charges. The increase in the international income is primarily attributable to lower: Cost of Sales , Restructuring charges and certain acquisition-related costs and asset impairment charges. (b) 2023 v. 2022 –– The domestic loss in 2023 versus domestic income in 2022 and the decrease in international income in 2023 was primarily attributable to lower revenues, higher intangible asset impairment charges, and increases in Restructuring charges and certain acquisition-related costs , Amortization of intangible assets , and Selling, informational and administrative expenses , partially offset by a decrease in Cost of sales and net gains on equity securities in 2023 versus net losses on equity securities in 2022 .
Schedule of Provision for Taxes on Income	Components of Provision/(benefit) for taxes on income based on the location of the taxing authorities include: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States Current income taxes: Federal $ 453 $ 1,321 $ 2,744 State and local 32 (135) (20) Deferred income taxes: Federal (1,909) (2,606) (3,271) State and local (293) (184) (310) Total U.S. tax provision/(benefit) (1,717) (1,605) (857) International Current income taxes 1,588 1,142 4,368 Deferred income taxes 100 (652) (183) Total international tax provision/(benefit) 1,689 490 4,185 Provision/(benefit) for taxes on income $ (28) $ (1,115) $ 3,328
Schedule of Cash Paid for Income Taxes, Net of Refunds	Cash paid for income taxes, net of refunds, consisted of: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States $ 2,593 $ 1,923 $ 3,867 International 1,012 1,224 4,000 Total $ 3,605 $ 3,147 $ 7,867
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation of the U.S. statutory income tax rate to our effective tax rate for Income from continuing operations follows: Year Ended December 31, 2024 2023 ^ 2022 U.S. statutory income tax rate 21.0 % 21.0 % 21.0 % Taxation of non-U.S. operations (a), (b) (7.9) (21.1) (5.0) Transition Tax liability (c) (6.0) — — Tax settlements and resolution of certain tax positions (c) (2.4) (40.3) (3.0) Foreign-Derived Intangible Income deduction (d) (1.2) (33.1) (1.9) State & local taxes (e) (2.5) (22.4) — Charitable contributions (1.7) (7.3) (0.5) U.S. R&D tax credit (1.8) (15.8) (0.6) Interest (f) 2.2 13.5 0.2 All other, net (g) 0.1 0.2 (0.6) Effective tax rate for income from continuing operations (0.4) % (105.4) % 9.6 % ^ The higher rate percentages for the 2023 reconciling items are significantly impacted by the lower domestic and international Income from continuing operations before provision/(benefit) for taxes on income (see Note 5A ) . (a) For taxation of non-U.S. operations, this rate impact reflects the income tax rates and relative earnings in the locations where we do business outside the U.S., together with the U.S. tax cost on our international operations, changes in uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions,” as well as changes in valuation allowances. Specifically: (i) the jurisdictional location of earnings is a significant component of our effective tax rate each year, and the rate impact of this component is influenced by the specific location of non-U.S. earnings and the level of such earnings as compared to our total earnings; (ii) the U.S. tax implications of our foreign operations is a significant component of our effective tax rate each year and generally offsets some of the reduction to our effective tax rate each year resulting from the jurisdictional location of earnings; (iii) the impact of certain tax initiatives; and (iv) the impact of changes in uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions” is a component of our effective tax rate each year that can result in either an increase or decrease to our effective tax rate. The jurisdictional mix of earnings, which includes the impact of the location of earnings as well as the U.S. tax cost on our international operations, can vary as a result of operating fluctuations in the normal course of business and as a result of the extent and location of other income and expense items, such as restructuring charges, asset impairments and gains and losses on strategic business decisions. See also Note 5A for the components of pre-tax income and Provision/(benefit) for taxes on income, which is based on the location of the taxing authorities, and for information about settlements and other items impacting Provision/(benefit) for taxes on income . (b) In all years, the reduction in our effective tax rate is a result of the jurisdictional location of earnings and is largely due to lower tax rates in certain jurisdictions, as well as manufacturing and other incentives for our subsidiaries in Singapore and, to a lesser extent, in Puerto Rico. We have Puerto Rican tax incentives pursuant to a grant that expires during 2053. Under such grant, we are partially exempt from income, property and municipal taxes. In Singapore, we have incentive tax rates effective through 2048 on income from manufacturing and other operations. (c) See Note 5A . (d) The higher rate benefit from the Foreign-Derived Intangible Income deduction in 2022 is mainly the result of the TCJA requirement to capitalize R&D costs for tax years beginning after December 31, 2021. (e) Includes the impact of U.S. state and local taxes and changes in the state valuation allowances including those related to the acquisition of Seagen. (f) Includes changes in interest related to our uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions”. (g) All other, net is primarily due to routine business operations.
Schedule of Deferred Tax Assets and Liabilities	Components of our deferred tax assets and liabilities, shown before jurisdictional netting, follow: 2024 Deferred Tax^ 2023 Deferred Tax^ (MILLIONS) Assets (Liabilities) Assets (Liabilities) Prepaid/deferred items (a) $ 2,988 $ (847) $ 2,658 $ (654) Accrued/deferred royalties 1,306 — 1,655 — Deferred revenues 300 — 471 — Inventories (b) 992 (702) 1,210 (1,060) Intangible assets (c) 1,435 (9,066) 1,526 (11,605) Property, plant and equipment 265 (1,751) 168 (2,039) Employee benefits (d) 1,002 (274) 1,085 (287) Restructurings and other charges 462 — 537 — Legal and product liability reserves 378 — 430 — Research and development (e) 7,635 — 6,275 — Net operating loss/tax credit carryforwards (f) 2,028 — 2,708 — Unremitted earnings — (69) — (60) State and local tax adjustments 161 — 119 — Investments 73 (248) 133 (395) All other 87 (66) 62 (72) 19,112 (13,023) 19,037 (16,172) Valuation allowances (1,638) — (1,738) — Total deferred taxes $ 17,474 $ (13,023) $ 17,299 $ (16,172) Net deferred tax asset/(liability) (g), (h) $ 4,451 $ 1,128 ^ The deferred tax assets and liabilities associated with global intangible low-taxed income are included in the relevant categories. See Note 1Q . (a) The increase in net deferred tax assets in 2024 is primarily related to temporary differences associated with the timing of accruals recorded in the ordinary course of business. (b) The increase in net deferred tax assets in 2024 is primarily due to measurement period adjustments of inventories related to Seagen. See Note 2A . (c) The decrease in net deferred tax liabilities in 2024 is primarily due to amortization of intangible assets and certain impairment charges, as well as the measurement period adjustments of intangible assets related to Seagen. (d) The decrease in net deferred tax assets in 2024 is primarily due to changes in pension and postretirement benefit obligations, as well as the performance of plan assets reported in the period. See Note 11 . (e) The increase in deferred tax assets in 2024 is primarily related to the TCJA requirement to capitalize R&D costs for tax years beginning after December 31, 2021. (f) The amounts in 2024 and 2023 are reduced for unrecognized tax benefits of $575 million and $1.3 billion, respectively, where we have net operating loss carryforwards, similar tax losses, and/or tax credit carryforwards that are available, under the tax law of the applicable jurisdiction, to settle any additional income taxes that would result from the disallowance of a tax position. (g) In 2024, Noncurrent deferred tax assets and other noncurrent tax assets ($6.6 billion), and Noncurrent deferred tax liabilities ($2.1 billion). In 2023, Noncurrent deferred tax assets and other noncurrent tax assets ($1.8 billion), and Noncurrent deferred tax liabilities ($640 million). (h) Excludes indefinite- and definite-lived deferred tax assets for certain non-U.S. tax losses and interest carryforwards and U.S. state general business credits, totaling $11.3 billion and $11.1 billion for 2024 and 2023 respectively, given that management has determined based on applicable accounting rules that it is remote that these tax attributes will be utilized.
Schedule of Unrecognized Tax Benefits Roll Forward	The reconciliation of the beginning and ending amounts of gross unrecognized tax benefits follows: (MILLIONS) 2024 2023 2022 Balance, beginning $ (4,802) $ (4,494) $ (6,068) Acquisitions 8 (46) (52) Increases based on tax positions taken during a prior period (a), (b) (934) (158) (67) Decreases based on tax positions taken during a prior period (a), (c) 599 310 1,339 Decreases based on settlements for a prior period (c), (d) 911 85 842 Increases based on tax positions taken during the current period (a) (433) (515) (701) Impact of foreign exchange 52 (44) 90 Other, net (a), (e) 70 58 122 Balance, ending (f) $ (4,530) $ (4,802) $ (4,494) (a) Primarily included in Provision/(benefit) for taxes on income. (b) In 2024, the amount includes a gross unrecognized tax benefit associated with the expected filing of an amended income tax return related to the Transition Tax liability under the TCJA. (c) Primarily related to effectively settling certain issues with the U.S. and foreign tax authorities. See Not e 5A . (d) Primarily related to cash payments and reductions of tax attributes. (e) Primarily related to decreases as a result of a lapse of applicable statutes of limitations. (f) In 2024, included in Income taxes payable ($103 million), Other current assets ($0.4 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.5 billion), Noncurrent deferred tax liabilities ($3 million) and Other taxes payable ($2.9 billion). In 2023, included in Income taxes payable ($94 million), Other current assets ($1 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.3 billion), Noncurrent deferred tax liabilities ($4 million) and Other taxes payable ($3.4 billion).
Schedule of Other Comprehensive Income (Loss), Components of Income Tax Expense (Benefit)	Components of the Tax provision/(benefit) on other comprehensive income/(loss) include: Year Ended December 31, (MILLIONS) 2024 2023 2022 Foreign currency translation adjustments, net (a) $ 156 $ (33) $ (126) Unrealized holding gains/(losses) on derivative financial instruments, net 96 111 183 Reclassification adjustments for (gains)/losses included in net income (29) (93) (270) 67 18 (87) Unrealized holding gains/(losses) on available-for-sale securities, net (19) (15) (164) Reclassification adjustments for (gains)/losses included in net income 5 (18) 226 (14) (33) 62 Benefit plans: prior service (costs)/credits and other, net 45 (5) (5) Reclassification adjustments related to amortization of prior service costs and other, net (26) (28) (29) Reclassification adjustments related to curtailments of prior service costs and other, net 2 (4) (3) 22 (37) (37) Tax provision/(benefit) on other comprehensive income/(loss) $ 231 $ (85) $ (187) (a) Taxes are not provided for foreign currency translation adjustments relating to investments in international subsidiaries that are expected to be held indefinitely.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss, Net of Tax	The following summarizes the changes, net of tax, in Accumulated other comprehensive loss : Net Unrealized Gains/(Losses) Benefit Plans (MILLIONS) Foreign Currency Translation Adjustments (a) Derivative Financial Instruments Available-For-Sale Securities Prior Service (Costs)/Credits and Other Accumulated Other Comprehensive Income/(Loss) Balance, January 1, 2022 $ (6,172) $ 119 $ (220) $ 377 $ (5,897) Other comprehensive income/(loss) (b) (2,188) (531) 440 (129) (2,407) Balance, December 31, 2022 (8,360) (412) 220 248 (8,304) Other comprehensive income/(loss) (b) 497 195 (229) (120) 343 Balance, December 31, 2023 (7,863) (217) (9) 128 (7,961) Other comprehensive income/(loss) (b) (121) 274 (97) 63 118 Balance, December 31, 2024 $ (7,984) $ 57 $ (106) $ 191 $ (7,842) (a) Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests. (b) Foreign currency translation adjustments include net gains/(losses) related to the impact of our net investment hedging program and gains/(losses) related to our investment in Haleon (see Note 2C ).

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis and Fair Value Hierarchy, using a Market Approach: As of December 31, 2024 As of December 31, 2023 (MILLIONS) Total Level 1 Level 2 Total Level 1 Level 2 Financial assets: Short-term investments Equity securities with readily determinable fair value (a) $ 7,848 $ 6,456 $ 1,392 $ 5,124 $ — $ 5,124 Available-for-sale debt securities: Government and agency—non-U.S. 6,855 — 6,855 817 — 817 Government and agency—U.S. 2,853 — 2,853 2,601 — 2,601 Corporate and other 1,173 — 1,173 982 — 982 10,881 — 10,881 4,400 — 4,400 Total short-term investments 18,729 6,456 12,273 9,524 — 9,524 Other current assets Derivative assets: Foreign exchange contracts 1,056 — 1,056 298 — 298 Total other current assets 1,056 — 1,056 298 — 298 Long-term investments Equity securities with readily determinable fair values (b) 1,246 1,246 — 2,779 2,772 7 Available-for-sale debt securities: Government and agency—non-U.S. — — — 124 — 124 Corporate and other — — — 26 — 26 — — — 150 — 150 Total long-term investments 1,246 1,246 — 2,929 2,772 156 Other noncurrent assets Derivative assets: Interest rate contracts 13 — 13 144 — 144 Foreign exchange contracts 447 — 447 258 — 258 Total derivative assets 460 — 460 402 — 402 Insurance contracts (c) 875 — 875 790 — 790 Total other noncurrent assets 1,335 — 1,335 1,191 — 1,191 Total assets $ 22,366 $ 7,701 $ 14,665 $ 13,943 $ 2,772 $ 11,170 Financial liabilities: Other current liabilities Derivative liabilities: Interest rate contracts $ 28 $ — $ 28 $ 16 $ — $ 16 Foreign exchange contracts 217 — 217 404 — 404 Total other current liabilities 245 — 245 420 — 420 Other noncurrent liabilities Derivative liabilities: Interest rate contracts 397 — 397 275 — 275 Foreign exchange contracts 723 — 723 725 — 725 Total other noncurrent liabilities 1,121 — 1,121 1,000 — 1,000 Total liabilities $ 1,366 $ — $ 1,366 $ 1,420 $ — $ 1,420 (a) Includes money market funds. As of December 31, 2024, short-term equity securities include our investment in Haleon of $6.5 billion. See Note 2C . (b) Long-term equity securities of $133 million as of December 31, 2024 and $130 million as of December 31, 2023 were held in restricted trusts for U.S. non-qualified employee benefit plans. (c) Includes life insurance policies held in restricted trusts for U.S. non-qualified employee benefit plans. The underlying invested assets in these contracts are marketable securities, which are carried at fair value, with changes in fair value recognized in Other (income)/deductions—net (see Note 4 ) .
Summary of Investments	The following summarizes our investments by classification type: As of December 31, (MILLIONS) 2024 2023 Short-term investments Equity securities with readily determinable fair values (a) $ 7,848 $ 5,124 Available-for-sale debt securities 10,881 4,400 Held-to-maturity debt securities 705 313 Total Short-term investments $ 19,434 $ 9,837 Long-term investments Equity securities with readily determinable fair values (b) $ 1,246 $ 2,779 Available-for-sale debt securities — 150 Held-to-maturity debt securities 45 47 Private equity securities at cost (b) 719 755 Total Long-term investments $ 2,010 $ 3,731 Equity-method investments (a) 217 11,637 Total long-term investments and equity-method investments $ 2,228 $ 15,368 Held-to-maturity cash equivalents $ 184 $ 207 (a) As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt. (b) Represent investments in the life sciences sector.
Contractual Maturities of Available-for-sale and Held-to-maturity Securities	Our investment portfolio consists of investment-grade debt securities issued across diverse governments, corporate and financial institutions: As of December 31, 2024 As of December 31, 2023 Gross Unrealized Maturities (in Years) Gross Unrealized (MILLIONS) Amortized Cost Gains Losses Fair Value Within 1 Over 1 Over 5 Amortized Cost Gains Losses Fair Value Available-for-sale debt securities Government and agency –– non-U.S. $ 6,970 $ 8 $ (123) $ 6,855 $ 6,855 $ — $ — $ 953 $ 2 $ (14) $ 941 Government and agency –– U.S. 2,853 — — 2,853 2,853 — — 2,601 — — 2,601 Corporate and other 1,179 — (6) 1,173 1,173 — — 1,006 4 (2) 1,007 Held-to-maturity debt securities Time deposits and other 697 — — 697 657 21 19 561 — — 561 Government and agency –– non-U.S. 237 — — 237 232 4 1 4 — — 4 Total debt securities $ 11,935 $ 8 $ (129) $ 11,814 $ 11,770 $ 25 $ 20 $ 5,126 $ 6 $ (16) $ 5,115
Schedule of Available-for-sale Securities Reconciliation	Our investment portfolio consists of investment-grade debt securities issued across diverse governments, corporate and financial institutions: As of December 31, 2024 As of December 31, 2023 Gross Unrealized Maturities (in Years) Gross Unrealized (MILLIONS) Amortized Cost Gains Losses Fair Value Within 1 Over 1 Over 5 Amortized Cost Gains Losses Fair Value Available-for-sale debt securities Government and agency –– non-U.S. $ 6,970 $ 8 $ (123) $ 6,855 $ 6,855 $ — $ — $ 953 $ 2 $ (14) $ 941 Government and agency –– U.S. 2,853 — — 2,853 2,853 — — 2,601 — — 2,601 Corporate and other 1,179 — (6) 1,173 1,173 — — 1,006 4 (2) 1,007 Held-to-maturity debt securities Time deposits and other 697 — — 697 657 21 19 561 — — 561 Government and agency –– non-U.S. 237 — — 237 232 4 1 4 — — 4 Total debt securities $ 11,935 $ 8 $ (129) $ 11,814 $ 11,770 $ 25 $ 20 $ 5,126 $ 6 $ (16) $ 5,115
Held-to-maturity Securities	Our investment portfolio consists of investment-grade debt securities issued across diverse governments, corporate and financial institutions: As of December 31, 2024 As of December 31, 2023 Gross Unrealized Maturities (in Years) Gross Unrealized (MILLIONS) Amortized Cost Gains Losses Fair Value Within 1 Over 1 Over 5 Amortized Cost Gains Losses Fair Value Available-for-sale debt securities Government and agency –– non-U.S. $ 6,970 $ 8 $ (123) $ 6,855 $ 6,855 $ — $ — $ 953 $ 2 $ (14) $ 941 Government and agency –– U.S. 2,853 — — 2,853 2,853 — — 2,601 — — 2,601 Corporate and other 1,179 — (6) 1,173 1,173 — — 1,006 4 (2) 1,007 Held-to-maturity debt securities Time deposits and other 697 — — 697 657 21 19 561 — — 561 Government and agency –– non-U.S. 237 — — 237 232 4 1 4 — — 4 Total debt securities $ 11,935 $ 8 $ (129) $ 11,814 $ 11,770 $ 25 $ 20 $ 5,126 $ 6 $ (16) $ 5,115
Schedule of Gains and Losses on Investment Securities	The following presents the calculation of the portion of unrealized (gains)/losses that relates to equity securities, excluding equity-method investments, held at the reporting date: Year Ended December 31, (MILLIONS) 2024 2023 2022 Net (gains)/losses recognized during the period on equity securities (a) $ (1,008) $ (1,590) $ 1,273 Less: Net (gains)/losses recognized during the period on equity securities sold during the period (1,122) (1,754) (126) Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date (b) $ 114 $ 165 $ 1,400 (a) Reported in Other (income)/deductions –– net . See Note 4 . (b) Included in net unrealized (gains)/losses are observable price changes on equity securities without readily determinable fair values. As of December 31, 2024, there were cumulative impairments and downward adjustments of $360 million and upward adjustments of $222 million. Impairments, downward and upward adjustments were not material to our operations in 2024, 2023 and 2022.
Schedule of Short-term Borrowings	Short-term borrowings include: As of December 31, (MILLIONS) 2024 2023 Commercial paper, principal amount (a) $ 2,453 $ 7,965 Current portion of long-term debt, principal amount 3,750 2,250 Other short-term borrowings, principal amount (b) 755 252 Total short-term borrowings, principal amount 6,957 10,467 Net fair value adjustments related to hedging and purchase accounting — 5 Net unamortized discounts, premiums and debt issuance costs (12) (121) Total Short-term borrowings, including current portion of long-term debt , carried at historical proceeds, as adjusted $ 6,946 $ 10,350 (a) Issued in the fourth quarter of 2023 as part of the financing for our acquisition of Seagen (see Note 2A ). The weighted-average effective interest rate on commercial paper outstanding was approximately 4.94% as of December 31, 2024 and 5.37% as of December 31, 2023. (b) Primarily includes cash collateral. See Note 7F .
Schedule of Long-term Debt Instruments	The following outlines our senior unsecured long-term debt (a) and the weighted-average stated interest rate by maturity: As of December 31, (MILLIONS) 2024 2023 Notes due 2025 (3.9% for 2023) (b) $ — $ 3,750 Notes due 2026 (3.7% for 2024 and 2023) 6,000 6,000 Notes due 2027 (2.2% for 2024 and 2.1% for 2023) 980 1,029 Notes due 2028 (4.6% for 2024 and 2023) 5,660 5,660 Notes due 2029 (3.5% for 2024 and 2023) 1,750 1,750 Notes due 2030 (3.6% for 2024 and 2023) 5,250 5,250 Notes due 2031-2035 (4.5% for 2024 and 2023) 6,750 6,750 Notes due 2036-2040 (5.4% for 2024 and 2023) 9,534 9,543 Notes due 2041-2045 (4.3% for 2024 and 2023) 6,474 6,501 Notes due 2046-2050 (3.7% for 2024 and 2023) 4,750 4,750 Notes due 2051-2063 (5.3% for 2024 and 2023) 10,000 10,000 Total long-term debt, principal amount 57,147 60,982 Net fair value adjustments related to hedging and purchase accounting 701 1,039 Net unamortized discounts, premiums and debt issuance costs (444) (483) Total long-term debt, carried at historical proceeds, as adjusted $ 57,405 $ 61,538 Current portion of long-term debt, carried at historical proceeds, as adjusted (not included above (3.9% for 2024 and 2023)) $ 3,747 $ 2,254 (a) Our long-term debt is generally redeemable by us at any time at varying redemption prices plus accrued and unpaid interest. (b) Reclassified to the current portion of long-term debt.
Schedule of Derivative Financial Instruments	The following summarizes the fair value of the derivative financial instruments and notional amounts: (MILLIONS) As of December 31, 2024 As of December 31, 2023 Fair Value Fair Value Notional Asset Liability Notional Asset Liability Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ 23,991 $ 1,250 $ 719 $ 18,750 $ 403 $ 916 Interest rate contracts 6,750 13 425 6,750 144 290 1,263 1,144 546 1,206 Derivatives not designated as hedging instruments: Foreign exchange contracts $ 26,335 253 221 $ 25,609 154 214 Total $ 1,516 $ 1,366 $ 700 $ 1,420 (a) The notional amount of outstanding foreign exchange contracts hedging our intercompany forecasted inventory sales was $5.0 billion as of December 31, 2024 and $4.9 billion as of December 31, 2023.
Schedule of Derivative Assets at Fair Value	The following summarizes the fair value of the derivative financial instruments and notional amounts: (MILLIONS) As of December 31, 2024 As of December 31, 2023 Fair Value Fair Value Notional Asset Liability Notional Asset Liability Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ 23,991 $ 1,250 $ 719 $ 18,750 $ 403 $ 916 Interest rate contracts 6,750 13 425 6,750 144 290 1,263 1,144 546 1,206 Derivatives not designated as hedging instruments: Foreign exchange contracts $ 26,335 253 221 $ 25,609 154 214 Total $ 1,516 $ 1,366 $ 700 $ 1,420 (a) The notional amount of outstanding foreign exchange contracts hedging our intercompany forecasted inventory sales was $5.0 billion as of December 31, 2024 and $4.9 billion as of December 31, 2023.
Schedule of Derivative Liabilities at Fair Value	The following summarizes the fair value of the derivative financial instruments and notional amounts: (MILLIONS) As of December 31, 2024 As of December 31, 2023 Fair Value Fair Value Notional Asset Liability Notional Asset Liability Derivatives designated as hedging instruments: Foreign exchange contracts (a) $ 23,991 $ 1,250 $ 719 $ 18,750 $ 403 $ 916 Interest rate contracts 6,750 13 425 6,750 144 290 1,263 1,144 546 1,206 Derivatives not designated as hedging instruments: Foreign exchange contracts $ 26,335 253 221 $ 25,609 154 214 Total $ 1,516 $ 1,366 $ 700 $ 1,420 (a) The notional amount of outstanding foreign exchange contracts hedging our intercompany forecasted inventory sales was $5.0 billion as of December 31, 2024 and $4.9 billion as of December 31, 2023.
Schedule of Gains/(Losses) Incurred to Hedge or Offset Operational Foreign Exchange or Interest Rate Risk	The following summarizes information about the gains/(losses) incurred to hedge or offset operational foreign exchange or interest rate risk exposures: (a) Gains/(Losses) (a) Gains/(Losses) (a) Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Derivative Financial Instruments in Cash Flow Hedge Relationships: Interest rate contracts $ — $ — $ — $ 68 $ — $ 1 Foreign exchange contracts (b) — — 466 380 124 236 Amount excluded from effectiveness testing and amortized into earnings (c) — — 34 178 34 177 Derivative Financial Instruments in Fair Value Hedge Relationships: Interest rate contracts (253) 196 — — — — Hedged item 253 (196) — — — — Derivative Financial Instruments in Net Investment Hedge Relationships: Foreign exchange contracts — — 498 (393) — — Amount excluded from effectiveness testing and amortized into earnings (c) — — 119 137 154 136 Non-Derivative Financial Instruments in Net Investment Hedge Relationships (d) : Foreign currency short-term borrowings — — — — — — Foreign currency long-term debt — — 49 (29) — — Derivative Financial Instruments Not Designated as Hedges: Foreign exchange contracts 50 164 — — — — $ 50 $ 164 $ 1,166 $ 341 $ 313 $ 549 (a) OID = Other (income)/deductions—net, included in Other (income)/deductions—net in the consolidated statements of operations . COS = Cost of Sales, included in Cost of sales in the consolidated statements of operations. OCI = Other comprehensive income/(loss), included in the consolidated statements of comprehensive income/(loss) . (b) The amounts reclassified from OCI into COS were a net gain of $119 million in 2024 and a net gain of $253 million in 2023. The remaining amounts were reclassified from OCI into OID. Based on year-end foreign exchange rates that are subject to change, we expect to reclassify a pre-tax gain of $330 million within the next 12 months into income . The maximum length of time over which we are hedging our exposure to the variability in future foreign exchange cash flows is approximately 18 years and relates to foreign currency debt. (c) The amounts reclassified from OCI were reclassified into OID. (d) Long-term debt includes foreign currency borrowings which are used in net investment hedges; the related carrying values as of December 31, 2024 and December 31, 2023 were $777 million and $824 million, respectively.
Schedule of Amounts Recorded In Balance Sheet Related to Cumulative Adjustments for Fair Value Hedges	The following summarizes cumulative basis adjustments to our long-term debt in fair value hedges: As of December 31, 2024 As of December 31, 2023 Cumulative Amount of Fair Cumulative Amount of Fair (MILLIONS) Carrying Amount of Hedged Assets/Liabilities (a) Active Discontinued Hedging Relationships Carrying Amount of Hedged Assets/Liabilities (a) Active Hedging Relationships Discontinued Hedging Relationships Long-term debt $ 7,154 $ (384) $ 891 $ 7,196 $ (131) $ 957 (a) Carrying amounts exclude the cumulative amount of fair value hedging adjustments.
Schedule of Amounts Recorded In Balance Sheet Related to Cumulative Adjustments for Cash Flow Hedges	The following summarizes cumulative basis adjustments to our long-term debt in fair value hedges: As of December 31, 2024 As of December 31, 2023 Cumulative Amount of Fair Cumulative Amount of Fair (MILLIONS) Carrying Amount of Hedged Assets/Liabilities (a) Active Discontinued Hedging Relationships Carrying Amount of Hedged Assets/Liabilities (a) Active Hedging Relationships Discontinued Hedging Relationships Long-term debt $ 7,154 $ (384) $ 891 $ 7,196 $ (131) $ 957 (a) Carrying amounts exclude the cumulative amount of fair value hedging adjustments.

Other Financial Information (Ta

Other Financial Information (Tables)	12 Months Ended
	Dec. 31, 2024
Other Financial Information [Abstract]
Schedule of Components of Inventories, Current	The following summarizes the components of Inventories : As of December 31, (MILLIONS) 2024 2023 Finished goods $ 3,775 $ 3,495 Work-in-process 6,101 5,688 Raw materials and supplies 976 1,007 Inventories (a) $ 10,851 $ 10,189 Noncurrent inventories not included above (b) $ 2,663 $ 4,568 (a) The increase from December 31, 2023 reflects higher inventory levels for certain products mainly due to changes in net market demand, network strategy and new product launches. (b) Included in Other noncurrent assets . The decrease from December 31, 2023 is primarily driven by a reduction in acquired Seagen inventory, inclusive of the acquisition accounting fair value step up. See Note 2A . Based on our current estimates and assumptions, there are no recoverability issues for these amounts.
Schedule of Components of Inventories, Noncurrent	The following summarizes the components of Inventories : As of December 31, (MILLIONS) 2024 2023 Finished goods $ 3,775 $ 3,495 Work-in-process 6,101 5,688 Raw materials and supplies 976 1,007 Inventories (a) $ 10,851 $ 10,189 Noncurrent inventories not included above (b) $ 2,663 $ 4,568 (a) The increase from December 31, 2023 reflects higher inventory levels for certain products mainly due to changes in net market demand, network strategy and new product launches. (b) Included in Other noncurrent assets . The decrease from December 31, 2023 is primarily driven by a reduction in acquired Seagen inventory, inclusive of the acquisition accounting fair value step up. See Note 2A . Based on our current estimates and assumptions, there are no recoverability issues for these amounts.
Schedule of Changes in Outstanding Trade Payables	The following summarizes the changes in outstanding trade payables to suppliers who participate in these financing arrangements for the year ended December 31, 2024 (MILLIONS) Total Confirmed obligations outstanding, December 31, 2023 $ 791 Invoices confirmed during the year 2,638 Confirmed invoices paid during the year (2,740) Confirmed obligations outstanding, December 31, 2024 $ 688

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Components of Property, Plant and Equipment, Net	The following summarizes the components of Property, plant and equipment, net : Useful Lives As of December 31, (MILLIONS) (Years) 2024 2023 Land - $ 291 $ 353 Buildings 33-50 9,036 9,046 Machinery and equipment 8-20 15,095 14,263 Furniture, fixtures and other 3-12.5 5,516 5,399 Construction in progress - 4,937 5,925 34,876 34,985 Less: Accumulated depreciation 16,483 16,045 Property, plant and equipment, net $ 18,393 $ 18,940
Schedule of Property, Plant and Equipment, Net by Geographic Area	The following provides Property, plant and equipment, net by geographic area: As of December 31, (MILLIONS) 2024 2023 United States $ 9,748 $ 10,674 International: Developed Markets 7,187 6,713 Emerging Markets 1,458 1,554 Property, plant and equipment, net $ 18,393 $ 18,940

Identifiable Intangible Asset_2

Identifiable Intangible Assets, Net and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following summarizes the components of Identifiable intangible assets : As of December 31, 2024 As of December 31, 2023 (MILLIONS) Gross Accumulated Identifiable Gross Accumulated Identifiable Intangible Assets, Net Finite-lived intangible assets Developed technology rights (a) $ 99,397 $ (65,044) $ 34,353 $ 99,267 $ (60,493) $ 38,773 Brands (b) 1,277 (992) 285 922 (877) 45 Licensing agreements and other 2,724 (1,513) 1,210 2,756 (1,458) 1,297 103,397 (67,549) 35,848 102,944 (62,828) 40,116 Indefinite-lived intangible assets Brands (b) — — 827 827 IPR&D (c) 18,893 18,893 23,193 23,193 Licensing agreements and other 670 670 763 763 19,563 19,563 24,784 24,784 Identifiable intangible assets (d) $ 122,961 $ (67,549) $ 55,411 $ 127,728 $ (62,828) $ 64,900 (a) The increase in the gross carrying amount includes $740 million of measurement period adjustments related to our acquisition of Seagen (see Note 2A ) and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna), partially offset by impairments of $943 million (see Note 4 ). (b) The changes in the gross carrying amounts reflect the transfer of $827 million from indefinite-lived brands to finite-lived brands for Medrol, partially offset by impairments of $475 million in finite-lived brands (see Note 4 ). (c) The decrease in the gross carrying amount reflects impairments of $1.9 billion (see Note 4 ), $1.7 billion of measurement period adjustments related to our acquisition of Seagen (see Note 2A ), and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna). (d) The decrease is primarily due to amortization expense of $5.3 billion, impairments of $3.3 billion (see Note 4 ) and measurement period adjustments related to our acquisition of Seagen of $950 million (see Note 2A ).
Schedule of Indefinite-Lived Intangible Assets	The following summarizes the components of Identifiable intangible assets : As of December 31, 2024 As of December 31, 2023 (MILLIONS) Gross Accumulated Identifiable Gross Accumulated Identifiable Intangible Assets, Net Finite-lived intangible assets Developed technology rights (a) $ 99,397 $ (65,044) $ 34,353 $ 99,267 $ (60,493) $ 38,773 Brands (b) 1,277 (992) 285 922 (877) 45 Licensing agreements and other 2,724 (1,513) 1,210 2,756 (1,458) 1,297 103,397 (67,549) 35,848 102,944 (62,828) 40,116 Indefinite-lived intangible assets Brands (b) — — 827 827 IPR&D (c) 18,893 18,893 23,193 23,193 Licensing agreements and other 670 670 763 763 19,563 19,563 24,784 24,784 Identifiable intangible assets (d) $ 122,961 $ (67,549) $ 55,411 $ 127,728 $ (62,828) $ 64,900 (a) The increase in the gross carrying amount includes $740 million of measurement period adjustments related to our acquisition of Seagen (see Note 2A ) and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna), partially offset by impairments of $943 million (see Note 4 ). (b) The changes in the gross carrying amounts reflect the transfer of $827 million from indefinite-lived brands to finite-lived brands for Medrol, partially offset by impairments of $475 million in finite-lived brands (see Note 4 ). (c) The decrease in the gross carrying amount reflects impairments of $1.9 billion (see Note 4 ), $1.7 billion of measurement period adjustments related to our acquisition of Seagen (see Note 2A ), and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna). (d) The decrease is primarily due to amortization expense of $5.3 billion, impairments of $3.3 billion (see Note 4 ) and measurement period adjustments related to our acquisition of Seagen of $950 million (see Note 2A ).
Schedule of Expected Amortization Expense	The following provides the expected annual amortization expense: (MILLIONS) 2025 2026 2027 2028 2029 Amortization expense $ 4,838 $ 4,716 $ 4,125 $ 3,776 $ 2,829
Schedule of Goodwill	The following summarizes the changes in the carrying amount of Goodwill : (MILLIONS) Total (a) Balance, January 1, 2023 $ 51,375 Additions (b) 16,117 Impact of foreign exchange and other 292 Balance, December 31, 2023 67,783 Additions (b) 1,022 Impact of foreign exchange (278) Balance, December 31, 2024 $ 68,527 (a) As a result of the organizational changes to the commercial structure within the Biopharma operating segment effective in the first quarter of 2024 (see Note 17A ), our goodwill was required to be reallocated amongst impacted reporting units. The allocation of goodwill is a complex process that requires, among other things, that we determine the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. We completed the re-allocation during the fourth quarter of 2024 and concluded that none of our goodwill was impaired. All goodwill continues to be assigned within the Biopharma reportable segment. (b) Additions primarily represent our acquisition of Seagen in 2023 and measurement period adjustments related to our acquisition of Seagen in 2024 (see Note 2A ) .

Pension and Postretirement Be_2

Pension and Postretirement Benefit Plans and Defined Contribution Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Costs	Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Service cost $ — $ — $ — $ 87 $ 85 $ 116 $ 14 $ 12 $ 29 Interest cost 553 589 534 312 287 157 23 21 27 Expected return on plan assets (832) (778) (862) (322) (304) (296) (51) (44) (47) Amortization of prior service cost/(credit) 1 2 2 4 — (1) (113) (119) (130) Actuarial (gains)/losses (a) 396 (410) 225 33 102 (11) 144 51 (440) Curtailments — — — (4) (2) (11) — (12) (18) Special termination benefits — 6 18 10 — 1 — — 1 Net periodic benefit cost/(credit) reported in income 117 (592) (84) 120 169 (45) 18 (90) (578) Cost/(credit) reported in Other comprehensive income/(loss) (1) (2) (2) (4) 31 (1) (80) 128 169 Cost/(credit) recognized in Comprehensive income $ 116 $ (594) $ (86) $ 117 $ 199 $ (46) $ (62) $ 38 $ (410) (a) Reflects: (i) actuarial remeasurement net losses in 2024, primarily due to unfavorable asset performance for the U.S. pension plans and decreases in discount rates for the international pension plans, partially offset by increases in discount rates for the U.S. pension plans and favorable asset performance for the international pension plans and postretirement plans, (ii) actuarial remeasurement net gains in 2023, primarily due to favorable asset performance in the U.S. and increases in discount rates for the international plans, partially offset by unfavorable asset performance for certain international plans, and (iii) actuarial remeasurement net gains in 2022, primarily due to increases in discount rates, partially offset by unfavorable asset performance.
Schedule of Assumptions Used	Pension Plans Postretirement Plans U.S. International Year Ended December 31, (PERCENTAGES) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Weighted-average assumptions used to determine net periodic benefit cost: Discount rate: Pension plans/postretirement plans 5.4 % 5.4 % 2.9 % 5.4 % 5.5 % 2.9 % Interest cost 4.4 % 3.8 % 1.5 % Service cost 3.9 % 3.6 % 1.7 % Expected return on plan assets 8.0 % 7.5 % 6.3 % 5.1 % 4.5 % 3.1 % 8.0 % 7.5 % 6.3 % Rate of compensation increase (a) 3.2 % 3.0 % 2.8 % Weighted-average assumptions used to determine benefit obligations at fiscal year-end: Discount rate 5.7 % 5.4 % 5.4 % 4.1 % 4.4 % 3.8 % 5.5 % 5.4 % 5.5 % Rate of compensation increase (a) 3.1 % 3.2 % 3.0 % (a) The rate of compensation increase is not used to determine the net periodic benefit cost and benefit obligation for the U.S. pension plans as these plans are frozen.
Schedule of Health Care Cost Trend Rates	The following provides the healthcare cost trend rate assumptions for our U.S. postretirement benefit plans: As of December 31, 2024 2023 Healthcare cost trend rate assumed for next year 7.5 % 7.9 % Rate to which the cost trend rate is assumed to decline 4.0 % 4.0 % Year that the rate reaches the ultimate trend rate 2047 2047
Schedule of Analysis of the Changes in the Benefit Obligations, Plan assets and Accounting Funded Status of Pension and Postretirement Benefit Plans	The following provides: (i) an analysis of the changes in our benefit obligations, plan assets and funded status of our benefit plans, (ii) the funded status recognized in our consolidated balance sheets and (iii) the pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Change in benefit obligation (a) Benefit obligation, beginning $ 10,756 $ 11,420 $ 7,292 $ 7,497 $ 450 $ 410 Service cost — — 87 85 14 12 Interest cost 553 589 312 287 23 21 Employee contributions — — 16 11 61 52 Plan amendments — — — 25 (193) — Changes in actuarial assumptions and other (b) (299) (127) 119 (518) 199 96 Foreign exchange impact (1) — (106) 280 (2) (1) Acquisitions/divestitures, net — — 77 13 — — Curtailments and special termination benefits — 6 7 — — (3) Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Benefit obligation, ending (a) 9,781 10,756 7,363 7,292 486 450 Change in plan assets Fair value of plan assets, beginning 10,935 10,871 6,552 6,865 636 647 Actual return on plan assets 138 1,061 408 (316) 105 89 Company contributions 103 134 164 154 — (15) Employee contributions — — 16 11 61 52 Foreign exchange impact — — (65) 214 — — Acquisitions/divestitures, net — — 62 13 — — Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Fair value of plan assets, ending 9,948 10,935 6,696 6,552 736 636 Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Amounts recorded in our consolidated balance sheet: Noncurrent assets $ 934 $ 1,010 $ 728 $ 644 $ 330 $ 266 Current liabilities (90) (94) (31) (28) (5) (6) Noncurrent liabilities (678) (738) (1,364) (1,355) (74) (74) Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Prior service (costs)/credits $ (2) $ (2) $ (61) $ (65) $ 365 $ 285 Information related to the funded status of pension plans with an ABO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 456 $ 579 ABO 768 831 1,752 1,834 Information related to the funded status of pension plans with a PBO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 690 $ 964 PBO 768 831 2,084 2,347 (a) For the U.S. pension plans, the benefit obligation is both the PBO and ABO as these plans are frozen and future benefit accruals no longer increase with future compensation increases. For the international pension plans, the benefit obligation is the PBO. The ABO for our international pension plans was $7.1 billion in 2024 and $7.0 billion in 2023. For the postretirement plans, the benefit obligation is the ABO. (b) For 2024, primarily includes actuarial losses resulting from decreases in discount rates for the international pension plans, and other assumption changes for the postretirement plans, largely offset by actuarial gains resulting from increases in discount rates for the U.S. pension plans. For 2023, primarily included actuarial gains resulting from increases in discount rates for the international pension plans. (c) Our U.S. qualified plan, U.S. postretirement plan and many of our larger funded international plans were overfunded as of December 31, 2024.
Schedule of Amounts Recognized in Balance Sheet	The following provides: (i) an analysis of the changes in our benefit obligations, plan assets and funded status of our benefit plans, (ii) the funded status recognized in our consolidated balance sheets and (iii) the pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Change in benefit obligation (a) Benefit obligation, beginning $ 10,756 $ 11,420 $ 7,292 $ 7,497 $ 450 $ 410 Service cost — — 87 85 14 12 Interest cost 553 589 312 287 23 21 Employee contributions — — 16 11 61 52 Plan amendments — — — 25 (193) — Changes in actuarial assumptions and other (b) (299) (127) 119 (518) 199 96 Foreign exchange impact (1) — (106) 280 (2) (1) Acquisitions/divestitures, net — — 77 13 — — Curtailments and special termination benefits — 6 7 — — (3) Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Benefit obligation, ending (a) 9,781 10,756 7,363 7,292 486 450 Change in plan assets Fair value of plan assets, beginning 10,935 10,871 6,552 6,865 636 647 Actual return on plan assets 138 1,061 408 (316) 105 89 Company contributions 103 134 164 154 — (15) Employee contributions — — 16 11 61 52 Foreign exchange impact — — (65) 214 — — Acquisitions/divestitures, net — — 62 13 — — Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Fair value of plan assets, ending 9,948 10,935 6,696 6,552 736 636 Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Amounts recorded in our consolidated balance sheet: Noncurrent assets $ 934 $ 1,010 $ 728 $ 644 $ 330 $ 266 Current liabilities (90) (94) (31) (28) (5) (6) Noncurrent liabilities (678) (738) (1,364) (1,355) (74) (74) Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Prior service (costs)/credits $ (2) $ (2) $ (61) $ (65) $ 365 $ 285 Information related to the funded status of pension plans with an ABO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 456 $ 579 ABO 768 831 1,752 1,834 Information related to the funded status of pension plans with a PBO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 690 $ 964 PBO 768 831 2,084 2,347 (a) For the U.S. pension plans, the benefit obligation is both the PBO and ABO as these plans are frozen and future benefit accruals no longer increase with future compensation increases. For the international pension plans, the benefit obligation is the PBO. The ABO for our international pension plans was $7.1 billion in 2024 and $7.0 billion in 2023. For the postretirement plans, the benefit obligation is the ABO. (b) For 2024, primarily includes actuarial losses resulting from decreases in discount rates for the international pension plans, and other assumption changes for the postretirement plans, largely offset by actuarial gains resulting from increases in discount rates for the U.S. pension plans. For 2023, primarily included actuarial gains resulting from increases in discount rates for the international pension plans. (c) Our U.S. qualified plan, U.S. postretirement plan and many of our larger funded international plans were overfunded as of December 31, 2024.
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)	The following provides: (i) an analysis of the changes in our benefit obligations, plan assets and funded status of our benefit plans, (ii) the funded status recognized in our consolidated balance sheets and (iii) the pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Change in benefit obligation (a) Benefit obligation, beginning $ 10,756 $ 11,420 $ 7,292 $ 7,497 $ 450 $ 410 Service cost — — 87 85 14 12 Interest cost 553 589 312 287 23 21 Employee contributions — — 16 11 61 52 Plan amendments — — — 25 (193) — Changes in actuarial assumptions and other (b) (299) (127) 119 (518) 199 96 Foreign exchange impact (1) — (106) 280 (2) (1) Acquisitions/divestitures, net — — 77 13 — — Curtailments and special termination benefits — 6 7 — — (3) Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Benefit obligation, ending (a) 9,781 10,756 7,363 7,292 486 450 Change in plan assets Fair value of plan assets, beginning 10,935 10,871 6,552 6,865 636 647 Actual return on plan assets 138 1,061 408 (316) 105 89 Company contributions 103 134 164 154 — (15) Employee contributions — — 16 11 61 52 Foreign exchange impact — — (65) 214 — — Acquisitions/divestitures, net — — 62 13 — — Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Fair value of plan assets, ending 9,948 10,935 6,696 6,552 736 636 Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Amounts recorded in our consolidated balance sheet: Noncurrent assets $ 934 $ 1,010 $ 728 $ 644 $ 330 $ 266 Current liabilities (90) (94) (31) (28) (5) (6) Noncurrent liabilities (678) (738) (1,364) (1,355) (74) (74) Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Prior service (costs)/credits $ (2) $ (2) $ (61) $ (65) $ 365 $ 285 Information related to the funded status of pension plans with an ABO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 456 $ 579 ABO 768 831 1,752 1,834 Information related to the funded status of pension plans with a PBO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 690 $ 964 PBO 768 831 2,084 2,347 (a) For the U.S. pension plans, the benefit obligation is both the PBO and ABO as these plans are frozen and future benefit accruals no longer increase with future compensation increases. For the international pension plans, the benefit obligation is the PBO. The ABO for our international pension plans was $7.1 billion in 2024 and $7.0 billion in 2023. For the postretirement plans, the benefit obligation is the ABO. (b) For 2024, primarily includes actuarial losses resulting from decreases in discount rates for the international pension plans, and other assumption changes for the postretirement plans, largely offset by actuarial gains resulting from increases in discount rates for the U.S. pension plans. For 2023, primarily included actuarial gains resulting from increases in discount rates for the international pension plans. (c) Our U.S. qualified plan, U.S. postretirement plan and many of our larger funded international plans were overfunded as of December 31, 2024.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets	The following provides: (i) an analysis of the changes in our benefit obligations, plan assets and funded status of our benefit plans, (ii) the funded status recognized in our consolidated balance sheets and (iii) the pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Change in benefit obligation (a) Benefit obligation, beginning $ 10,756 $ 11,420 $ 7,292 $ 7,497 $ 450 $ 410 Service cost — — 87 85 14 12 Interest cost 553 589 312 287 23 21 Employee contributions — — 16 11 61 52 Plan amendments — — — 25 (193) — Changes in actuarial assumptions and other (b) (299) (127) 119 (518) 199 96 Foreign exchange impact (1) — (106) 280 (2) (1) Acquisitions/divestitures, net — — 77 13 — — Curtailments and special termination benefits — 6 7 — — (3) Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Benefit obligation, ending (a) 9,781 10,756 7,363 7,292 486 450 Change in plan assets Fair value of plan assets, beginning 10,935 10,871 6,552 6,865 636 647 Actual return on plan assets 138 1,061 408 (316) 105 89 Company contributions 103 134 164 154 — (15) Employee contributions — — 16 11 61 52 Foreign exchange impact — — (65) 214 — — Acquisitions/divestitures, net — — 62 13 — — Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Fair value of plan assets, ending 9,948 10,935 6,696 6,552 736 636 Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Amounts recorded in our consolidated balance sheet: Noncurrent assets $ 934 $ 1,010 $ 728 $ 644 $ 330 $ 266 Current liabilities (90) (94) (31) (28) (5) (6) Noncurrent liabilities (678) (738) (1,364) (1,355) (74) (74) Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Prior service (costs)/credits $ (2) $ (2) $ (61) $ (65) $ 365 $ 285 Information related to the funded status of pension plans with an ABO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 456 $ 579 ABO 768 831 1,752 1,834 Information related to the funded status of pension plans with a PBO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 690 $ 964 PBO 768 831 2,084 2,347 (a) For the U.S. pension plans, the benefit obligation is both the PBO and ABO as these plans are frozen and future benefit accruals no longer increase with future compensation increases. For the international pension plans, the benefit obligation is the PBO. The ABO for our international pension plans was $7.1 billion in 2024 and $7.0 billion in 2023. For the postretirement plans, the benefit obligation is the ABO. (b) For 2024, primarily includes actuarial losses resulting from decreases in discount rates for the international pension plans, and other assumption changes for the postretirement plans, largely offset by actuarial gains resulting from increases in discount rates for the U.S. pension plans. For 2023, primarily included actuarial gains resulting from increases in discount rates for the international pension plans. (c) Our U.S. qualified plan, U.S. postretirement plan and many of our larger funded international plans were overfunded as of December 31, 2024.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	The following provides: (i) an analysis of the changes in our benefit obligations, plan assets and funded status of our benefit plans, (ii) the funded status recognized in our consolidated balance sheets and (iii) the pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Pension Plans Postretirement Plans U.S. International Year Ended December 31, (MILLIONS) 2024 2023 2024 2023 2024 2023 Change in benefit obligation (a) Benefit obligation, beginning $ 10,756 $ 11,420 $ 7,292 $ 7,497 $ 450 $ 410 Service cost — — 87 85 14 12 Interest cost 553 589 312 287 23 21 Employee contributions — — 16 11 61 52 Plan amendments — — — 25 (193) — Changes in actuarial assumptions and other (b) (299) (127) 119 (518) 199 96 Foreign exchange impact (1) — (106) 280 (2) (1) Acquisitions/divestitures, net — — 77 13 — — Curtailments and special termination benefits — 6 7 — — (3) Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Benefit obligation, ending (a) 9,781 10,756 7,363 7,292 486 450 Change in plan assets Fair value of plan assets, beginning 10,935 10,871 6,552 6,865 636 647 Actual return on plan assets 138 1,061 408 (316) 105 89 Company contributions 103 134 164 154 — (15) Employee contributions — — 16 11 61 52 Foreign exchange impact — — (65) 214 — — Acquisitions/divestitures, net — — 62 13 — — Settlements (756) (675) (69) (56) — — Benefits paid (473) (457) (371) (334) (67) (137) Fair value of plan assets, ending 9,948 10,935 6,696 6,552 736 636 Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Amounts recorded in our consolidated balance sheet: Noncurrent assets $ 934 $ 1,010 $ 728 $ 644 $ 330 $ 266 Current liabilities (90) (94) (31) (28) (5) (6) Noncurrent liabilities (678) (738) (1,364) (1,355) (74) (74) Funded status $ 167 $ 179 $ (667) $ (740) $ 251 $ 186 Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss : Prior service (costs)/credits $ (2) $ (2) $ (61) $ (65) $ 365 $ 285 Information related to the funded status of pension plans with an ABO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 456 $ 579 ABO 768 831 1,752 1,834 Information related to the funded status of pension plans with a PBO in excess of plan assets (c) : Fair value of plan assets $ — $ — $ 690 $ 964 PBO 768 831 2,084 2,347 (a) For the U.S. pension plans, the benefit obligation is both the PBO and ABO as these plans are frozen and future benefit accruals no longer increase with future compensation increases. For the international pension plans, the benefit obligation is the PBO. The ABO for our international pension plans was $7.1 billion in 2024 and $7.0 billion in 2023. For the postretirement plans, the benefit obligation is the ABO. (b) For 2024, primarily includes actuarial losses resulting from decreases in discount rates for the international pension plans, and other assumption changes for the postretirement plans, largely offset by actuarial gains resulting from increases in discount rates for the U.S. pension plans. For 2023, primarily included actuarial gains resulting from increases in discount rates for the international pension plans. (c) Our U.S. qualified plan, U.S. postretirement plan and many of our larger funded international plans were overfunded as of December 31, 2024.
Schedule of Allocation of Plan Assets	The following provides the components of plan assets: As of December 31, 2024 As of December 31, 2023 Fair Value Fair Value (MILLIONS EXCEPT TARGET ALLOCATION PERCENTAGE) Target Allocation Percentage Total Level 1 Level Level 3 Assets Measured at NAV (a) Total Level 1 Level Level 3 Assets Measured at NAV (a) U.S. pension plans Cash and cash equivalents 0-10% $ 533 $ 56 $ 477 $ — $ — $ 606 $ 47 $ 559 $ — $ — Equity securities: 10-40% Global equity securities 1,341 1,341 — — — 1,537 1,537 — 1 — Equity commingled funds 97 — 97 — — 100 — 100 — — Fixed income securities: 45-80% Corporate debt securities 2,878 4 2,874 — — 3,668 1 3,667 — — Government and agency obligations (b) 2,059 — 2,059 — — 1,971 — 1,971 — — Fixed income commingled funds 42 — 12 — 30 25 — 14 — 11 Other investments: 5-35% Partnership investments (c) 2,665 — — — 2,665 2,449 — — — 2,449 Insurance contracts — — — — — 99 — 99 — — Other commingled funds (d) 333 — — — 333 479 — — — 479 Total 100 % $ 9,948 $ 1,401 $ 5,518 $ — $ 3,028 $ 10,935 $ 1,585 $ 6,410 $ 1 $ 2,939 International pension plans Cash and cash equivalents 0-10% $ 310 $ 138 $ 172 $ — $ — $ 268 $ 120 $ 148 $ — $ — Equity securities: 10-20% Equity commingled funds 704 — 619 — 86 633 — 587 — 46 Fixed income securities: 45-70% Corporate debt securities 638 — 633 5 — 617 — 617 — — Government and agency obligations (b) 960 1 960 — — 848 — 848 — — Fixed income commingled funds 1,750 — 1,064 — 686 1,852 — 872 — 980 Other investments: 15-35% Partnership investments (c) 147 — 2 — 145 145 — 2 — 142 Insurance contracts 1,221 — 45 1,176 — 1,151 — 55 1,096 — Other (d) 965 35 147 252 531 1,039 — 167 244 628 Total 100 % $ 6,696 $ 174 $ 3,642 $ 1,433 $ 1,447 $ 6,552 $ 120 $ 3,295 $ 1,340 $ 1,796 U.S. postretirement plans (e) Cash and cash equivalents 0-5% $ 12 $ — $ 12 $ — $ — $ 3 $ 1 $ 2 $ — $ — Insurance contracts 95-100% 724 — 724 — — 633 — 633 — — Total 100 % $ 736 $ — $ 736 $ — $ — $ 636 $ 1 $ 635 $ — $ — (a) Certain investments that are measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The NAV amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefits plan assets. (b) Government and agency obligations are inclusive of repurchase agreements. (c) Mainly includes investments in private equity, private debt and real estate. (d) Mostly includes investments in hedge funds and real estate. (e) Reflects postretirement plan assets, which support our U.S. retiree medical plans.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	The following provides an analysis of the changes in our more significant investments valued using significant unobservable inputs: International Pension Plans Year Ended December 31, (MILLIONS) 2024 2023 Fair value, beginning $ 1,340 $ 1,455 Actual return on plan assets: Assets held, ending 8 (96) Assets sold during the period — (3) Purchases, sales, and settlements, net (79) (155) Transfer into/(out of) Level 3 168 81 Exchange rate changes (5) 59 Fair value, ending $ 1,433 $ 1,340
Schedule of Expected Future Cash Flow Information	The following provides the expected future cash flow information related to our benefit plans: Pension Plans Postretirement Plans (MILLIONS) U.S. International Expected employer contributions: 2025 $ 90 $ 144 $ 40 Expected benefit payments: 2025 $ 871 $ 384 $ 44 2026 858 366 47 2027 844 384 49 2028 825 385 50 2029 815 392 50 2030–2034 3,760 2,067 245

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Awards and Valuation Details	A summary of the awards and valuation details: Awarded to Terms Valuation Recognition and Presentation Total Shareholder Return Units (TSRUs) Senior and other key management and select employees • Entitle the holder to receive shares of our common stock with a value equal to the difference between the defined settlement price and the grant price, plus the dividend equivalents accumulated during the five seven • Settlement price is the average closing price of our common stock during the 20 trading days ending on the fifth or seventh anniversary of the grant, as applicable; the grant price is the closing price of our common stock on the date of the grant. • Automatically settle on the fifth or seventh anniversary of the grant but vest on the third anniversary of the grant. Certain 2022 and 2023 five-year grants were modified during 2024 (for active colleagues) to vest on the fifth anniversary and settle on the seventh anniversary of the grant. • Retirement-eligible holders can convert their TSRUs, when vested, into Profit Units (PTUs) with a conversion ratio based on a calculation used to determine the shares at TSRU settlement. The PTUs are entitled to earn Dividend Equivalent Units (DEUs), and the PTUs and DEUs will be settled in our common stock on the TSRUs’ original settlement date and will be subject to the terms and conditions of the original grant including forfeiture provisions. As of the grant date using a Monte Carlo simulation model Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate. Restricted Stock Units (RSUs) Select employees • Entitle the holder to receive a specified number of shares of our common stock, including dividend equivalents that are reinvested into additional RSUs. • For RSUs granted before 2022, generally in all instances, the units vest on the third anniversary of the grant date assuming continuous service from the grant date. Beginning in 2022, generally in all instances, the units vest and distribute one-third per year for three As of the grant date using the closing price of our common stock Amortized on a straight-line basis for RSUs granted before 2022, and on an accelerated attribution approach for RSUs granted beginning in 2022, over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate. Portfolio Performance Shares (PPSs) Select employees • Entitle the holder to receive, at the end of the performance period, shares of our common stock, if any, including shares resulting from dividend equivalents earned on such shares. • For PPSs granted, the awards vest on the third anniversary of the grant assuming continuous service from the grant date and the number of shares paid, if any, depends on the achievement of predetermined goals related to Pfizer’s long-term product portfolio during a three five • The number of shares that may be earned ranges from 0% to 200% of the initial award depending on goal achievement over the performance period. As of the grant date using the intrinsic value method using the closing price of our common stock Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses and/or Research and development expenses , as appropriate, and adjusted each reporting period, as necessary, to reflect changes in the price of our common stock, the number of shares that are probable of being earned, and management’s assessment of the probability that the specified performance criteria will be achieved. Performance Share Awards (PSAs) Senior and other key management • Entitle the holder to receive, at the end of the performance period, shares of our common stock (retirees) earned, if any, or an equal value in cash (active colleagues), including dividend equivalents on shares earned, dependent upon the achievement of predetermined goals related to two measures: a. Adjusted net income over three one b. TSR as compared to the NYSE ARCA Pharmaceutical Index (DRG Index) over the three • PSAs vest on the third anniversary of the grant assuming continuous service from the grant date. PSA awards granted in 2022 and 2023 were modified during 2024 (for active colleagues) to vest on the fifth anniversary of the grant. • The award that may be earned ranges from 0% to 200% of the target award depending on goal achievement over the performance period. As of the grant date using the intrinsic value method using the closing price of our common stock Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate, and adjusted each reporting period, as necessary, to reflect changes in the price of our common stock, the number of shares that are probable of being earned and management’s assessment of the probability that the specified performance criteria will be achieved. Awarded to Terms Valuation Recognition and Presentation Breakthrough Performance Awards (BPAs) Select employees identified as instrumental in delivering medicines to patients (excluding executive officers) • Entitle the holder to receive, at the end of the performance period, shares of our common stock, if any, including shares resulting from dividend equivalents earned on such shares. • For BPAs granted, the awards, if earned/vested, are settled at the end of the performance period, but no earlier than the one • The number of shares that may be earned ranges from 0% to 600% of the target award depending on the level and timing of goal achievement over the performance period. As of the grant date using the intrinsic value method using the closing price of our common stock Amortized on a straight-line basis over the probable vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate, and adjusted each reporting period, as necessary, to reflect changes in the price of our common stock, the number of shares that are probable of being earned and management’s assessment of the probability that the specified performance criteria will be achieved and/or management’s assessment of the probable vesting term. Stock Options Select employees • Entitle the holder to purchase a specified number of shares of our common stock at a price per share equal to the closing market price of our common stock on the date of grant, for a period of time when vested. • Since 2016, only a limited set of non-U.S. employees received stock option grants. No stock options were awarded to senior and other key management in any period presented. • Stock options vest on the third anniversary of the grant assuming continuous service from the grant date and have a contractual term of 10 years. As of the grant date using the Black-Scholes-Merton option-pricing model Amortized on a straight-line basis over the vesting term into Cost of sales , Selling, informational and administrative expenses , and/or Research and development expenses , as appropriate.
Schedule of Share-based Payment Arrangement Activity	The following provides data related to all TSRU, RSU, PPS, PSA and stock option activity: (MILLIONS, EXCEPT FAIR VALUE OF SHARES VESTED PER TSRU AND STOCK OPTION AND YEARS) TSRUs RSUs PPSs PSAs Stock Options Year Ended December 31, 2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022 Total fair value of shares vested (a) $7.05 $10.71 $11.72 $469 $505 $345 $176 $116 $145 $ — $58 $57 $4.08 $7.88 $9.44 Total intrinsic value of options exercised or share units converted $29 $755 $1,131 $123 $250 $280 $ — $102 $247 Cash received upon exercise $ — $181 $260 Tax benefits realized from exercise $ — $20 $46 Compensation cost recognized/(reduced), pre-tax $246 $244 $255 $394 $437 $402 $252 $(138) $144 $(21) $(5) $73 $4 $4 $4 Total compensation cost related to nonvested awards not yet recognized, pre-tax $270 $192 $179 $214 $212 $266 $107 $81 $135 $40 $22 $38 $4 $4 $3 Weighted-average period over which cost is expected to be recognized (years) 2.1 1.7 1.7 1.8 1.8 1.7 1.9 1.8 1.7 1.7 1.8 1.8 1.7 1.7 1.7 (a) Weighted-average GDFV per TSRUs and stock options. Summary of all TSRU, RSU, PPS and PSA activity during 2024 (with the shares granted representing the maximum award that could be achieved for PPSs and PSAs): TSRUs RSUs PPSs (a) PSAs TSRUs Per TSRU, Weighted Average Shares Weighted Avg. GDFV per share Shares Weighted Avg. Intrinsic Value per share Shares Weighted Avg. Intrinsic Value per share (Thousands) GDFV Grant Price (Thousands) (Thousands) (Thousands) Nonvested, December 31, 2023 77,673 $ 9.67 $ 39.92 25,844 $ 40.08 22,225 $ 28.79 4,734 $ 28.79 Granted 43,674 7.05 26.90 17,073 26.97 13,535 26.92 2,597 26.89 Vested (31,076) 7.42 33.87 (16,874) 37.89 (6,329) 27.76 — — Reinvested dividend equivalents 1,541 28.17 Forfeited (5,370) 8.66 33.90 (2,024) 32.20 (3,274) 28.03 (1,810) 27.79 Nonvested, December 31, 2024 84,902 $ 9.63 $ 35.87 25,561 $ 32.67 26,156 $ 26.53 5,521 $ 26.53 (a) Vested and non-vested shares outstanding, but not paid as of December 31, 2024 were 33.9 million. Summary of TSRU and PTU information as of December 31, 2024 (a), (b) : TSRUs (Thousands) PTUs (Thousands) Weighted-Average Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Millions) (c) TSRUs Outstanding 167,977 $ 34.17 2.5 $ 122 TSRUs Vested 83,075 32.44 0.7 86 TSRUs Expected to vest (d) 80,014 $ 35.93 4.3 34 Outstanding PTUs converted from TSRUs exercised 586 0.2 $ 16 (a) In 2024, we settled 2,419,674 TSRUs with a weighted-average grant price of $27.76 per unit. (b) In 2024, 1,150,382 TSRUs with a weighted-average grant price of $31.54 per unit were converted into 100,307 PTUs. (c) Market price of our underlying common stock less grant price plus dividend equivalents to date. (d) The number of TSRUs expected to vest takes into account an estimate of expected forfeitures.
Schedule of Valuation Assumptions	Summary of the weighted-average assumptions used in the valuation of TSRUs and stock options: TSRUs Stock Options Year Ended December 31, 2024 2023 2022 2024 2023 2022 Expected dividend yield (based on a constant dividend yield during the expected term) 6.06 % 3.80 % 3.42 % 6.06 % 3.80 % 3.42 % Risk-free interest rate (based on interpolated yield on U.S. Treasury zero-coupon issues) 4.31 % 4.08 % 1.87 % 4.32 % 4.03 % 1.93 % Expected stock price volatility (based on implied volatility, after consideration of historical volatility) 26.56 % 23.23 % 29.20 % 26.56 % 23.23 % 29.21 % TSRUs contractual/stock options expected term, years (based on historical exercise and post-vesting termination patterns for stock options) 5.15 5.15 5.17 6.50 6.50 6.50
Schedule of Share-based Compensation, Stock Options, Activity	Summary of all stock option activity during 2024: Shares (Thousands) Weighted-Average Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (a) (Millions) Outstanding, December 31, 2023 28,452 $ 32.66 Granted 1,372 26.90 Exercised (4) 29.06 Forfeited (235) 33.52 Expired (9,964) 30.69 Outstanding, December 31, 2024 19,621 33.24 1.9 $ — Vested and expected to vest, December 31, 2024 (b) 19,510 33.26 1.9 — Exercisable, December 31, 2024 17,447 $ 33.12 1.1 $ — (a) Market price of our underlying common stock less exercise price. (b) The number of options expected to vest takes into account an estimate of expected forfeitures.

Earnings Per Common Share Att_2

Earnings Per Common Share Attributable to Pfizer Inc. Common Shareholders (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earning Per Share	The following presents the detailed calculation of EPS: Year Ended December 31, (MILLIONS) 2024 2023 2022 EPS Numerator Income from continuing operations attributable to Pfizer Inc. common shareholders $ 8,020 $ 2,134 $ 31,366 Discontinued operations––net of tax 11 (15) 6 Net income attributable to Pfizer Inc. common shareholders $ 8,031 $ 2,119 $ 31,372 EPS Denominator Weighted-average common shares outstanding––Basic 5,664 5,643 5,608 Common-share equivalents 36 66 125 Weighted-average common shares outstanding––Diluted 5,700 5,709 5,733 Anti-dilutive common stock equivalents (a) 24 9 1 (a) These common stock equivalents were outstanding for the periods presented, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Lease Assets and Liabilities	For operating leases, the ROU assets and liabilities in our consolidated balance sheets follows: As of December 31, (MILLIONS) Balance Sheet Classification 2024 2023 ROU assets Other noncurrent assets $ 2,289 $ 2,924 Lease liabilities (short-term) Other current liabilities 356 527 Lease liabilities (long-term) Other noncurrent liabilities 2,286 2,626
Schedule of Lease Costs and Other Supplemental Information	Components of total lease cost includes: Year Ended December 31, (MILLIONS) 2024 2023 2022 Operating lease cost $ 683 $ 863 $ 714 Variable lease cost 517 444 536 Sublease income (23) (24) (32) Total lease cost $ 1,177 $ 1,283 $ 1,218 Other supplemental information follows: As of December 31, (MILLIONS) 2024 2023 Operating leases Weighted-Average Remaining Contractual Lease Term (Years) 10.2 10.8 Weighted-Average Discount Rate 3.7 % 3.8 % Year Ended December 31, (MILLIONS) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 601 $ 744 $ 617 (Gains)/losses on sale and leaseback transactions, net 29 (49) 11
Schedule of Future Minimum Rental Payments for Operating Leases	The following reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded in the consolidated balance sheet as of December 31, 2024: (MILLIONS) Period Operating Lease Liabilities Next one year (a) $ 443 1-2 years 406 2-3 years 361 3-4 years 281 4-5 years 239 Thereafter 1,468 Total undiscounted lease payments 3,197 Less: Imputed interest 556 Present value of minimum lease payments 2,642 Less: Current portion 356 Noncurrent portion $ 2,286 (a)

Segment, Geographic and Other_2

Segment, Geographic and Other Revenue Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	The following table provides selected information by reportable segment: Total Revenues Earnings (a) Depreciation and Amortization (b) Year Ended December 31, Year Ended December 31, Year Ended December 31, (MILLIONS) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Reportable Segment: Biopharma (c) $ 62,400 $ 58,237 $ 99,826 $ 28,139 $ 15,923 $ 47,939 $ 1,360 $ 1,213 $ 1,107 Other business activities (d) 1,228 1,316 1,349 (7,382) (4,342) (5,162) 340 323 332 Reconciling Items: Amortization of intangible assets (5,286) (4,733) (3,609) 5,286 4,733 3,609 Acquisition-related items (1,938) (1,874) (832) 12 (11) (20) Certain significant items (e) (5,510) (3,917) (3,608) 14 32 36 $ 63,627 $ 59,553 $ 101,175 $ 8,023 $ 1,058 $ 34,729 $ 7,013 $ 6,290 $ 5,064 (a) Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss). As described above, in connection with the organizational changes effective in the first quarter of 2024, overhead costs associated with our manufacturing operations and costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations as they operated in 2024 are included in Biopharma’s earnings. We have reclassified $14.7 billion and $9.2 billion of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. (b) Certain production facilities are shared. Depreciation is allocated based on estimates of physical production. As described above, in connection with the organizational changes effective in the first quarter of 2024, we have reclassified $331 million and $294 million of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. (c) Biopharma’s revenues and earnings in 2024 reflect a non-cash favorable product return adjustment of $771 million recorded in the first quarter of 2024 and in 2023 reflected a non-cash revenue reversal of $3.5 billion (see Note 17C ). In 2023, Biopharma earnings included approximately $6.2 billion of inventory write-offs and related charges to Cost of sales mainly due to lower-than-expected demand for our COVID-19 products. In 2022, Biopharma earnings included COVID-19-related charges of approximately $1.7 billion to Cost of sales , composed of (i) inventory write-offs of approximately $1.2 billion related to COVID-19 products that exceeded or were expected to exceed their approved shelf-lives prior to being used and (ii) charges of approximately $0.5 billion, primarily related to excess raw materials for Paxlovid. Biopharma’s earnings also include dividend income from our investment in ViiV of $272 million in 2024, $265 million in 2023 and $314 million in 2022. (d) Other business activities include revenues and costs associated with PC1 and Pfizer Ignite as well as costs that we do not allocate to our operating segments, per above. (e) Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in 2024 include, among other items: (i) intangible asset impairment charges of $3.3 billion recorded in Other (income)/deductions––net , (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $2.2 billion (primarily recorded in Restructuring charges and certain acquisition-related co sts), (iii) actuarial valuation and other postretirement plan losses of $579 million recorded in Other (income)/deductions––net , (iv) charges for certain legal matters of $567 million recorded in Other (income)/deductions––net, and (v) a charge in Other (income)/deductions––net of $420 million related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program, partially offset by (vi) net gains on equity securities of $1.0 billion and (vii) net gains of $825 million on the partial sales of our investment in Haleon in March and October 2024, which are comprised of (a) total gains on the sales of $945 million less (b) $120 million in the fourth quarter (included in Other business activities) representing our pro-rata share of Haleon’s third quarter 2024 adjusted income recorded on a one quarter lag and implicitly included in the gain on the sale of those shares. Earnings in 2023 included, among other items: (i) intangible asset impairment charges of $3.0 billion recorded in Other (income)/deductions––net and (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $2.2 billion ($290 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related co sts), partially offset by (iii) net gains on equity securities of $1.6 billion recorded in Other (income)/deductions––net . Earnings in 2022 included, among other items: (i) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.4 billion ($562 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs ) and (ii) net losses on equity securities of $1.3 billion recorded in Other (income)/deductions––net . See Notes 3 and 4 . The following provides Biopharma reportable segment information regularly provided to the CODM: Year Ended December 31, (MILLIONS) 2024 2023 2022 Biopharma reportable segment: Biopharma total revenues $ 62,400 $ 58,237 $ 99,826 Less: Cost of sales 14,997 22,666 32,859 Selling, informational and administrative expenses 10,040 10,235 9,207 Research and development expenses 9,532 9,763 10,324 Acquired in-process research and development expenses 108 194 181 Other (income)/deductions –– net (416) (543) (685) Biopharma earnings $ 28,139 $ 15,923 $ 47,939 Revenues - Comirnaty $ 5,353 $ 11,220 $ 37,809 Revenues - Paxlovid $ 5,716 $ 1,279 $ 18,933 Revenues - excluding Comirnaty and Paxlovid $ 51,331 $ 45,738 $ 43,084
Revenue from External Customers by Geographic Areas	The following summarizes revenues by geographic area: Year Ended December 31, (MILLIONS) 2024 2023 2022 United States $ 38,691 $ 28,145 $ 43,317 International: Developed Markets 16,057 20,910 40,534 Emerging Markets 8,879 10,498 17,324 Total revenues $ 63,627 $ 59,553 $ 101,175
Schedules of Concentration of Risk	The following summarizes revenue, as a percentage of Total revenues , for our three largest U.S. wholesaler customers and the U.S. government, which was concentrated in our Biopharma operating segment: Year Ended December 31, 2024 2023 2022 McKesson, Inc. 23 % 16 % 8 % Cencora, Inc. 17 % 12 % 5 % Cardinal Health, Inc. 14 % 10 % 4 % U.S. government (a) 6 % — 23 %
Schedule of Significant Product Revenues	The following provides detailed revenue information for several of our major products: (MILLIONS) Year Ended December 31, PRODUCT PRIMARY INDICATION OR CLASS 2024 2023 2022 TOTAL REVENUES $ 63,627 $ 59,553 $ 101,175 GLOBAL BIOPHARMACEUTICALS BUSINESS (BIOPHARMA) $ 62,400 $ 58,237 $ 99,826 Primary Care $ 30,135 $ 30,799 $ 73,181 Eliquis (a) Nonvalvular atrial fibrillation, deep vein thrombosis, pulmonary embolism 7,366 6,747 6,480 Prevnar family Active immunization to prevent pneumonia, invasive disease and otitis media caused by Streptococcus pneumoniae 6,411 6,501 6,342 Paxlovid (b) COVID-19 in certain high-risk patients 5,716 1,279 18,933 Comirnaty Active immunization to prevent COVID-19 5,353 11,220 37,809 Nurtec ODT/Vydura Acute treatment of migraine and prevention of episodic migraine 1,263 928 213 Abrysvo Active immunization to prevent RSV infection 755 890 — Premarin family Symptoms of menopause 380 397 455 BMP2 Bone graft for spinal fusion 352 338 277 FSME-IMMUN/TicoVac Active immunization to prevent tick-borne encephalitis disease 280 268 200 All other Primary Care Various 2,259 2,233 2,473 Specialty Care $ 16,652 $ 14,988 $ 13,851 Vyndaqel family ATTR-CM and polyneuropathy 5,451 3,321 2,447 Xeljanz RA, PsA, UC, active polyarticular course juvenile idiopathic arthritis, ankylosing spondylitis 1,168 1,703 1,796 Enbrel (Outside the U.S. and Canada) RA, juvenile idiopathic arthritis, PsA, plaque psoriasis, pediatric plaque psoriasis, ankylosing spondylitis and nonradiographic axial spondyloarthritis 690 830 1,003 Sulperazon Bacterial infections 637 757 786 Zavicefta Bacterial infections 586 511 412 Octagam (c) Primary humoral immunodeficiency, chronic immune thrombocytopenic purpura in adults, and dermatomyositis in adults 509 245 186 Inflectra Crohn’s disease, pediatric Crohn’s disease, UC, pediatric UC, RA in combination with methotrexate, ankylosing spondylitis, PsA and plaque psoriasis 509 490 532 Zithromax Bacterial infections 480 406 331 (MILLIONS) Year Ended December 31, PRODUCT PRIMARY INDICATION OR CLASS 2024 2023 2022 Genotropin Replacement of human growth hormone 470 539 360 BeneFIX Hemophilia B 381 424 425 Cibinqo Atopic dermatitis 215 128 27 Oxbryta (d) Sickle cell disease 201 328 73 All other Hospital (e) Various 4,448 4,514 4,730 All other Specialty Care Various 907 792 743 Oncology $ 15,612 $ 12,450 $ 12,794 Ibrance HR-positive/HER2-negative metastatic breast cancer 4,367 4,753 5,120 Xtandi (f) mCRPC, nmCRPC, mCSPC, nmCSPC 2,039 1,659 1,650 Padcev Locally advanced or metastatic urothelial cancer 1,588 53 — Adcetris Hodgkin lymphoma and certain T-cell lymphomas 1,089 56 — Oncology biosimilars (g) Various 1,037 1,407 1,753 Inlyta Advanced RCC 978 1,036 1,003 Lorbrena ALK-positive metastatic NSCLC 731 539 343 Bosulif Philadelphia chromosome–positive chronic myelogenous leukemia 645 645 575 Braftovi/Mektovi Metastatic melanoma in patients with a BRAFV600E/K mutation and for metastatic NSCLC in patients with a BRAFV600E mutation; and, for Braftovi for the treatment of BRAFV600E-mutant mCRC, in combination with Erbitux (cetuximab) (h) (after prior therapy) or cetuximab and mFOLFOX6 607 477 456 Tukysa Unresectable or metastatic HER2-positive breast cancer; RAS wild-type, HER2-positive unresectable or metastatic colorectal cancer 480 18 — Elrexfio Relapsed or refractory multiple myeloma 133 10 — Tivdak Recurrent or mCC 131 4 — Talzenna In combination with Xtandi (enzalutamide) for adult patients with HRR gene-mutated mCRPC; treatment of BRCA gene-mutated, HER2-negative, inoperable or recurrent breast cancer 117 64 48 All other Oncology Various 1,670 1,729 1,846 PFIZER CENTREONE (i) $ 1,146 $ 1,272 $ 1,342 PFIZER IGNITE $ 82 $ 44 $ 7 BIOPHARMA $ 62,400 $ 58,237 $ 99,826 PFIZER U.S. COMMERCIAL DIVISION (U.S. Primary Care and U.S. Specialty Care) 26,765 19,299 34,337 PFIZER ONCOLOGY DIVISION 11,567 8,450 8,583 PFIZER INTERNATIONAL COMMERCIAL DIVISION 24,068 30,488 56,905 Total Alliance revenues included above $ 8,388 $ 7,582 $ 8,537 Total Royalty revenues included above $ 1,423 $ 1,058 $ 845 (a) Reflects Alliance revenues and product revenues. (b) 2024 includes (i) a $771 million favorable final adjustment recorded in the first quarter to the estimated non-cash revenue reversal of $3.5 billion recorded in the fourth quarter of 2023, reflecting 5.1 million EUA-labeled treatment courses returned by the U.S. government through February 29, 2024 versus the estimated 6.5 million treatment courses that were expected to be returned as of December 31, 2023, and (ii) $442 million of revenue recorded in the third quarter in connection with the creation of the U.S. SNS. 2023 includes a non-cash revenue reversal of $3.5 billion recorded in the fourth quarter, of which a portion was associated with sales recorded in 2022, related to the expected return of an estimated 6.5 million treatment courses of EUA-labeled U.S. government inventory. (c) 2024 includes $129 million related to a one-time sales true-up settlement agreement with our commercialization partner. (d) In September 2024, we announced our voluntary withdrawal of all lots of Oxbryta for the treatment of sickle cell disease in all markets where it is approved, as well as the discontinuation of expanded access programs worldwide, based on the totality of clinical data that indicated at that time the overall benefit of Oxbryta no longer outweighs the risk in the approved sickle cell patient population. The data suggest an imbalance in vaso-occlusive crises and fatal events, which requires further assessment that remains ongoing. (e) Includes, among other Hospital products, amounts previously presented as All other Anti-infectives and Ig Portfolio. (f) Primarily reflects Alliance revenues and royalty revenues. (g) Biosimilars are highly similar versions of approved and authorized biological medicines. Oncology biosimilars primarily include Retacrit, Ruxience, Zirabev, Trazimera and Nivestym. (h) Erbitux is a registered trademark of ImClone LLC. (i) PC1 includes revenues from our contract manufacturing and our active pharmaceutical ingredient sales operation, as well as revenues related to our manufacturing and supply agreements with legacy Pfizer businesses/partnerships.

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Narrative (Details) $ in Billions	12 Months Ended
	Dec. 31, 2024 segment	Dec. 31, 2024 USD ($)	Dec. 31, 2024	Dec. 31, 2024 operatingSegment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of operating segments	3			3
Advertising expense		$ 3.3			$ 3.7	$ 2.8
Revenue [Member] | Top Ten Products [Member] | Product Concentration Risk [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, amount						$ 1
Concentration risk, percentage						82%
Revenue [Member] | Top Nine Products [Member] | Product Concentration Risk [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, amount					$ 1
Concentration risk, percentage					64%
Revenue [Member] | Top Eleven Products | Product Concentration Risk [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, amount		$ 1
Concentration risk, percentage			66%

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Accrued Rebates and Other Accruals (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Schedule of Accrued Liabilities [Line Items]
Total accrued rebates and other sales-related accruals	$ 10,822	$ 9,014
Trade accounts receivable, less allowance for doubtful accounts [Member]
Schedule of Accrued Liabilities [Line Items]
Total accrued rebates and other sales-related accruals	1,627	1,770
Other current liabilities [Member]
Schedule of Accrued Liabilities [Line Items]
Accrued rebates	7,195	5,546
Other accruals	972	902
Other noncurrent liabilities [Member]
Schedule of Accrued Liabilities [Line Items]
Total accrued rebates and other sales-related accruals	$ 1,029	$ 796

Acquisitions, Divestitures, E_3

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Acquisitions (Details) $ / shares in Units, shares in Thousands, $ in Millions

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 14, 2023 USD ($) medicine $ / shares

Oct. 05, 2022 USD ($) $ / shares

Oct. 03, 2022 USD ($)

Jun. 09, 2022 USD ($)

Mar. 11, 2022 USD ($) $ / shares

Dec. 31, 2023 USD ($) shares

Oct. 31, 2022 USD ($) $ / shares

Dec. 31, 2023 USD ($)

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Business Acquisition [Line Items]

Business acquisition, cash payment, net of cash acquired

$ 0

$ 43,430

$ 22,997

Uncertain tax positions

$ 4,802

[1]

$ 4,802

[1]

4,530

[1]

4,802

[1]

4,494

[1]

$ 6,068

Goodwill

$ 67,783

[2]

67,783

[2]

68,527

67,783

[2]

51,375

[2]

Acquired in-process research and development expenses

108

194

953

ReViral [Member]

Business Acquisition [Line Items]

Asset acquisition, consideration transferred

$ 536

Payments to acquire asset

436

Payment for asset acquisition, base payment

425

Asset acquisition, contingent consideration

100

Acquired in-process research and development expenses

$ 426

Seagen [Member]

Business Acquisition [Line Items]

Business acquisition, per share in cash (in dollars per share) | $ / shares

$ 229

Business acquisition, cash payment, gross

$ 44,200

Business acquisition, cash payment, net of cash acquired

$ 43,400

Post closing compensation expense

$ 476

Number of approved medicines | medicine

4

Gross contractual amount receivable

$ 597

Net deferred tax liabilities

4,800

Uncertain tax positions

48

Net deferred tax liabilities, gross

(6,300)

Deferred tax assets

1,500

Pro Forma net loss attributable to Pfizer Inc. common shareholders

1,481

(27,870)

Shares issued in acquisition (in shares) | shares

0

Goodwill

16,126

17,148

Inventories

[3]

$ 4,195

3,273

Seagen [Member] | Amortization Expense [Member]

Business Acquisition [Line Items]

Pro Forma net loss attributable to Pfizer Inc. common shareholders

553

576

Seagen [Member] | Fair Value Adjustment to Inventory [Member]

Business Acquisition [Line Items]

Pro Forma net loss attributable to Pfizer Inc. common shareholders

755

934

Seagen [Member] | Interest Expense [Member]

Business Acquisition [Line Items]

Pro Forma net loss attributable to Pfizer Inc. common shareholders

984

2,000

Seagen [Member] | Interest Income [Member]

Business Acquisition [Line Items]

Pro Forma net loss attributable to Pfizer Inc. common shareholders

$ 1,200

$ 267

GBT [Member]

Business Acquisition [Line Items]

Business acquisition, per share in cash (in dollars per share) | $ / shares

$ 68.50

Business acquisition, cash payment, gross

$ 5,700

Business acquisition, cash payment, net of cash acquired

5,200

Net deferred tax liabilities

516

Intangible assets

4,400

Goodwill

1,100

Inventories

$ 644

Acquired inventory, selling period

3 years

Assumed long-term debt, paid in full

$ 331

Biohaven [Member]

Business Acquisition [Line Items]

Business acquisition, per share in cash (in dollars per share) | $ / shares

$ 148.50

Business acquisition, cash payment, gross

$ 11,500

Net deferred tax liabilities

$ 544

Intangible assets

12,100

Goodwill

823

Inventories

$ 813

Acquired inventory, selling period

2 years

Assumed long-term debt, paid in full

$ 1,400

Repayment of assumed debt

863

Business acquisition, equity consideration

495

Consideration transferred, including equity interest held prior to business combination

11,800

Fair value of previously held equity interest in acquiree

300

Trade accounts receivable

398

Other current liabilities

526

Arena [Member]

Business Acquisition [Line Items]

Business acquisition, per share in cash (in dollars per share) | $ / shares

$ 100

Business acquisition, cash payment, gross

$ 6,600

Business acquisition, cash payment, net of cash acquired

6,200

Post closing compensation expense

138

Net deferred tax liabilities

490

Intangible assets

5,500

Goodwill

1,000

Developed Technology Rights [Member] | Seagen [Member]

Business Acquisition [Line Items]

Acquired intangible assets, useful life

18 years

Developed Technology Rights [Member] | GBT [Member]

Business Acquisition [Line Items]

Intangible assets

$ 1,400

Acquired intangible assets, useful life

6 years

Developed Technology Rights [Member] | Biohaven [Member]

Business Acquisition [Line Items]

Intangible assets

$ 11,600

Acquired intangible assets, useful life

11 years

IPR&D [Member] | Seagen [Member]

Business Acquisition [Line Items]

Intangible assets

$ 20,800

$ 19,900

IPR&D [Member] | GBT [Member]

Business Acquisition [Line Items]

Intangible assets

$ 3,000

IPR&D [Member] | Biohaven [Member]

Business Acquisition [Line Items]

Intangible assets

$ 450

IPR&D [Member] | Arena [Member]

Business Acquisition [Line Items]

Intangible assets

5,000

Licensing Agreements [Member] | Arena [Member]

Business Acquisition [Line Items]

Intangible assets

$ 460

[1] In 2024, included in Income taxes payable ($103 million), Other current assets ($0.4 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.5 billion), Noncurrent deferred tax liabilities ($3 million) and Other taxes payable ($2.9 billion). In 2023, included in Income taxes payable ($94 million), Other current assets ($1 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.3 billion), Noncurrent deferred tax liabilities ($4 million) and Other taxes payable ($3.4 billion). As a result of the organizational changes to the commercial structure within the Biopharma operating segment effective in the first quarter of 2024 (see Note 17A ), our goodwill was required to be reallocated amongst impacted reporting units. The allocation of goodwill is a complex process that requires, among other things, that we determine the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. We completed the re-allocation during the fourth quarter of 2024 and concluded that none of our goodwill was impaired. All goodwill continues to be assigned within the Biopharma reportable segment. As adjusted, comprised of $1.1 billion current inventories and $2.1 billion noncurrent inventories.

Acquisitions, Divestitures, E_4

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Purchase Price Allocation (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	[1]	Dec. 14, 2023	Dec. 31, 2022	[1]
Business Acquisition [Line Items]
Goodwill		$ 68,527	$ 67,783			$ 51,375
Seagen [Member]
Business Acquisition [Line Items]
Working capital, excluding inventories	[2]	621			$ 736
Inventories	[3]	3,273			4,195
Property, plant and equipment		280			524
Other noncurrent assets		59			174
Net income tax accounts	[4]	(4,779)			(6,123)
Other noncurrent liabilities		(187)			(167)
Total identifiable net assets		27,086			28,108
Goodwill		17,148			16,126
Net assets acquired/total consideration transferred		44,234			44,234
Measurement Period Adjustments
Working capital, excluding inventories	[2],[5]	(115)
Inventories	[3],[5]	(922)
Property, plant and equipment	[5]	(243)
Other noncurrent assets	[5]	(115)
Net income tax accounts	[4],[5]	1,343
Other noncurrent liabilities	[5]	(20)
Total identifiable net assets	[5]	(1,022)
Goodwill	[5]	1,022
Net assets acquired/total consideration transferred	[5]	0
Seagen [Member] | IPR&D [Member]
Business Acquisition [Line Items]
Intangible assets		19,900			20,800
Measurement Period Adjustments
Identifiable intangible assets	[5]	(900)
Seagen [Member] | Developed Technology Rights and Other Intangible Assets [Member]
Business Acquisition [Line Items]
Intangible assets	[6]	7,920			$ 7,970
Measurement Period Adjustments
Identifiable intangible assets	[5],[6]	$ (50)
[1] As a result of the organizational changes to the commercial structure within the Biopharma operating segment effective in the first quarter of 2024 (see Note 17A ), our goodwill was required to be reallocated amongst impacted reporting units. The allocation of goodwill is a complex process that requires, among other things, that we determine the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. We completed the re-allocation during the fourth quarter of 2024 and concluded that none of our goodwill was impaired. All goodwill continues to be assigned within the Biopharma reportable segment. Includes cash and cash equivalents, accounts receivable, other current assets, accounts payable, accrued compensation and other current liabilities. As adjusted, comprised of $1.1 billion current inventories and $2.1 billion noncurrent inventories. As adjusted, included primarily in Noncurrent deferred tax liabilities. The measurement period adjustments primarily reflect the tax impact of the pre-tax measurement period adjustments. The changes in the estimated fair values are to better reflect market participant assumptions about facts and circumstances existing as of the acquisition date. The measurement period adjustments did not result from intervening events subsequent to the acquisition date. As adjusted, comprised mainly of $7.5 billion of finite-lived developed technology rights with an estimated weighted-average life of approximately 18 years.

Acquisitions, Divestitures, E_5

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Purchase Price Allocation - Footnotes (Details) - Seagen [Member] $ in Billions	Dec. 14, 2023 USD ($)
Business Acquisition [Line Items]
Current inventories	$ 1.1
Noncurrent inventories	2.1
Developed Technology Rights [Member]
Business Acquisition [Line Items]
Identifiable intangible assets, excluding in-process research and development	$ 7.5
Acquired intangible assets, estimated weighted-average useful life	18 years

Acquisitions, Divestitures, E_6

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Pro Forma Information (Details) - Seagen [Member] - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Revenues subsequent to acquisition	$ 132
Net loss attributable to Pfizer Inc. common shareholders	$ (746)
Revenues		$ 61,893	$ 103,137
Net income/(loss) attributable to Pfizer Inc. common shareholders		$ (1,481)	$ 27,870
Diluted earnings/(loss) per share attributable to Pfizer Inc. common shareholders		$ (0.26)	$ 4.86

Acquisitions, Divestitures, E_7

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Pro Forma Information - Footnotes (Details) - Seagen [Member] $ in Millions	1 Months Ended
	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Net loss attributable to Pfizer Inc. common shareholders	$ (746)
Restructuring, integration and acquisition-related costs [Member]
Business Acquisition [Line Items]
Net loss attributable to Pfizer Inc. common shareholders	614
Fair Value Adjustment to Inventory [Member]
Business Acquisition [Line Items]
Net loss attributable to Pfizer Inc. common shareholders	109
Amortization Expense [Member]
Business Acquisition [Line Items]
Net loss attributable to Pfizer Inc. common shareholders	25
Depreciation Expense [Member]
Business Acquisition [Line Items]
Net loss attributable to Pfizer Inc. common shareholders	$ 2

Acquisitions, Divestitures, E_8

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Divestitures (Details) - USD ($) $ in Millions		12 Months Ended
	Sep. 19, 2023	Dec. 31, 2023	Dec. 31, 2020	Dec. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum consideration to be received from divestiture	$ 1,000
Cash proceeds from disposal	300
Pre-tax gain on divestiture	$ 222	$ 222
Viatris [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Nontrade payables		$ 33		$ 105
Viatris [Member] | Minimum [Member] | Manufacturing and Supply Agreement [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period of continuing involvement after disposal			4 years
Viatris [Member] | Maximum [Member] | Manufacturing and Supply Agreement [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period of continuing involvement after disposal			7 years

Acquisitions, Divestitures, E_9

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Change in the Carrying Value of Equity Method Investment (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
		Sep. 29, 2024	Jun. 30, 2024	Dec. 31, 2024		Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Beginning carrying value reported in Equity-method investments	[1]			$ 11,637
Reclassification of accumulated other comprehensive income balances in Equity-method investments	[2]			(143)		$ 0
Transfer of carrying value to Short-term investments	[3]			(5,411)		0
Ending carrying value	[1]			217		11,637
Haleon [Member]
Schedule of Equity Method Investments [Line Items]
Beginning carrying value reported in Equity-method investments				11,451		10,824
Carrying value of shares sold				(6,113)		0
Dividends				(212)		(153)
Currency translation adjustments and other	[4]			341		293
Basis difference adjustments and amortization	[5],[6]			(91)		(2)
Pfizer share of Haleon investee capital transaction		$ 46	$ (91)	(44)	[5],[7]	0	[5],[7]
Pfizer share of Haleon earnings	[5]			224		489
Ending carrying value				$ 0		$ 11,451
[1] As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt. The 2024 activity primarily represent foreign currency translation balances in Accumulated other comprehensive income related to the equity-method investment in Haleon that were reclassified into Equity-method investments upon our loss of significant influence over Haleon and our discontinuance of the equity method for the Haleon investment. The final carrying value of our equity-method investment in Haleon was reclassified to Short-term investments and is being accounted for as an equity investment with a readily determinable fair value. See Note 6 . Included in Other (income)/deductions –– net . Adjustments in 2024 include (i) the impact of Haleon’s brand divestitures and impairments of intangible assets and (ii) changes in Haleon’s tax rates on intangible asset-related deferred tax liabilities. In 2024, includes (i) a decrease of $91 million recorded in the second quarter of 2024 for Pfizer’s share of an investee capital transaction recognized by Haleon for treasury stock Haleon purchased in the first quarter of 2024 and (ii) an increase of $46 million recorded in the third quarter of 2024 for the impact of the reduction in Pfizer’s ownership from approximately 32% to approximately 23% as applied to dividends with a record date in the first quarter of 2024, which were recognized in Haleon’s second quarter 2024 financial statements.

Acquisitions, Divestitures, _10

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Change in the Carrying Value of Equity Method Investment - Footnotes (Details) - Haleon [Member] - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 29, 2024	Jun. 30, 2024	Dec. 31, 2024		Dec. 31, 2023		Oct. 31, 2024
Schedule of Equity Method Investments [Line Items]
Pfizer share of Haleon investee capital transaction	$ 46	$ (91)	$ (44)	[1],[2]	$ 0	[1],[2]
Equity method investment, ownership percentage			23%		32%		15%
[1] In 2024, includes (i) a decrease of $91 million recorded in the second quarter of 2024 for Pfizer’s share of an investee capital transaction recognized by Haleon for treasury stock Haleon purchased in the first quarter of 2024 and (ii) an increase of $46 million recorded in the third quarter of 2024 for the impact of the reduction in Pfizer’s ownership from approximately 32% to approximately 23% as applied to dividends with a record date in the first quarter of 2024, which were recognized in Haleon’s second quarter 2024 financial statements. Included in Other (income)/deductions –– net .

Acquisitions, Divestitures, _11

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Summarized Financial Information of Equity Method Investee (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Sep. 29, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2024	Dec. 31, 2021
Equity Method Investment, Summarized Financial Information, Balance Sheet [Abstract]
Current assets	$ 50,358		$ 43,333
Total assets	213,396		226,501
Current liabilities	42,995		47,794
Total liabilities	124,899		137,213
Equity attributable to shareholders	88,203		89,014
Equity attributable to noncontrolling interests	294		274
Total equity	88,497		89,288		$ 95,916			$ 77,462
Equity Method Investment, Summarized Financial Information [Abstract]
Revenues:	63,627		59,553		101,175
Income from continuing operations	8,051		2,172		31,401
Net income	8,062		2,158		31,407
Income attributable to shareholders	8,031		2,119		31,372
Haleon [Member]
Equity Method Investment, Summarized Financial Information, Balance Sheet [Abstract]
Current assets				$ 5,876			$ 7,813
Noncurrent assets				36,954			37,572
Total assets				42,830			45,385
Current liabilities				6,117			7,468
Noncurrent liabilities				15,744			15,511
Total liabilities				21,862			22,979
Equity attributable to shareholders				20,719			22,129
Equity attributable to noncontrolling interests				249			277
Total equity				20,968			$ 22,406
Equity Method Investment, Summarized Financial Information [Abstract]
Revenues:		$ 14,252		13,921
Cost of sales		(5,656)		(5,580)
Gross profit		8,596		8,341
Income from continuing operations		1,668		1,606
Net income		1,668		1,606
Income attributable to shareholders		$ 1,600		$ 1,528
Haleon/Consumer Healthcare JV [Member]
Equity Method Investment, Summarized Financial Information [Abstract]
Revenues:						$ 13,566
Cost of sales						(5,081)
Gross profit						8,486
Income from continuing operations						1,745
Net income						1,745
Income attributable to shareholders						$ 1,675
ViiV [Member]
Equity Method Investment, Summarized Financial Information, Balance Sheet [Abstract]
Current assets	4,338		4,237
Noncurrent assets	3,223		3,009
Total assets	7,561		7,245
Current liabilities	4,280		4,085
Noncurrent liabilities	6,205		5,998
Total liabilities	10,485		10,083
Equity attributable to shareholders	(2,924)		(2,838)
Equity Method Investment, Summarized Financial Information [Abstract]
Revenues:	8,971		7,845		6,955
Cost of sales	(1,360)		(1,060)		(819)
Gross profit	7,611		6,785		6,135
Income from continuing operations	3,062		3,090		3,108
Net income	3,062		3,090		3,108
Income attributable to shareholders	$ 3,062		$ 3,090		$ 3,108

Acquisitions, Divestitures, _12

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Equity Method Investments (Details) € in Millions, £ in Millions, shares in Millions		1 Months Ended				12 Months Ended
		Oct. 31, 2024 USD ($) shares	Mar. 31, 2024 USD ($) shares	Jul. 31, 2022 USD ($)	Jul. 31, 2022 GBP (£)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 02, 2023 USD ($)	Jul. 02, 2023 GBP (£)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 EUR (€)	Mar. 31, 2022 GBP (£)	Jul. 31, 2019	Dec. 31, 2016 USD ($)
Schedule of Equity Method Investments [Line Items]
Proceeds from partial sales of investment in Haleon	[1]					$ 7,040,000,000	$ 0	$ 0
Other short-term borrowings	[2]					755,000,000	252,000,000
Dividend received from the Consumer Healthcare JV	[1]					0	0	3,960,000,000
Equity-method investments	[3]					$ 217,000,000	11,637,000,000
1.365% Consumer Healthcare JV Loan [Member] | Loans Payable [Member]
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount | £										£ 2,900
Other short-term borrowings									$ 3,700,000,000
Stated interest rate									1.365%	1.365%
Repurchased debt | £					£ 2,900
Haleon/Consumer Healthcare JV [Member] | Senior Notes, USD Denominated [Member] | Senior Notes [Member]
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount											$ 8,750,000,000
Haleon/Consumer Healthcare JV [Member] | Senior Notes, EUR Denominated [Member] | Senior Notes [Member]
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount | €												€ 2,350
Haleon/Consumer Healthcare JV [Member] | Senior Notes, GBP Denominated [Member] | Senior Notes [Member]
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount | £													£ 700
Disposed of by Sale, Not Discontinued Operations [Member] | Haleon/Consumer Healthcare JV [Member] | GSK [Member]
Schedule of Equity Method Investments [Line Items]
Proposed percent of ownership disposal											80%	80%	80%
Haleon/Consumer Healthcare JV [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage											32%	32%	32%
Dividends received, total				$ 4,200,000,000	£ 3,500
Dividend received from the Consumer Healthcare JV				$ 4,000,000,000
Haleon/Consumer Healthcare JV [Member] | GSK [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage														68%
ViiV [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage						11.70%
Equity-method investments															$ 0
Dividend income						$ (272,000,000)	$ (265,000,000)	(314,000,000)
Haleon [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		15%				23%	32%
Equity method investment, ownership percentage sold		34%	30%
Proceeds from partial sales of investment in Haleon		$ 3,500,000,000	$ 3,500,000,000
Gain on sale of equity method investment						$ 945,000,000
Equity-method investments						$ 0	$ 11,451,000,000	$ 10,824,000,000
Haleon [Member] | Sale of Equity-Method Investment in Private Placement
Schedule of Equity Method Investments [Line Items]
Number of shares sold in transaction (in shares) | shares		61	102
Haleon [Member] | Sale of Equity-Method Investment in Public Stock Offering
Schedule of Equity Method Investments [Line Items]
Number of shares sold in transaction (in shares) | shares		640	791
[1] See Note 2C . Primarily includes cash collateral. See Note 7F . As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt.

Acquisitions, Divestitures, _13

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Collaborative Arrangements (Detail) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Jan. 04, 2022	Oct. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Acquired in-process research and development expenses			$ 108	$ 194	$ 953
Biohaven [Member] | Collaborative Arrangement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cash payment to collaborators	$ 500
Upfront payment to collaborators	150
Committed investment from collaborator	350
Acquired in-process research and development expenses	$ 263
Biohaven [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Business acquisition, per share in cash (in dollars per share)		$ 148.50
Business acquisition, cash payment		$ 11,500

Acquisitions, Divestitures, _14

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues—Alliance revenues		$ 8,388	$ 7,582	$ 8,537
Total revenues		63,627	59,553	101,175
Cost of sales	[1],[2]	(17,851)	(24,954)	(34,344)
Selling, informational and administrative expenses	[1]	(14,730)	(14,771)	(13,677)
Other income/(deductions)—net		(4,388)	(222)	(1,062)
Product [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues—Revenues		53,816	50,914	91,793
Royalty [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues—Revenues	[3]	1,423	1,058	845
Collaborative Arrangement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues—Alliance revenues	[4]	8,388	7,582	8,537
Total revenues		9,486	8,400	9,588
Cost of sales	[5]	(2,901)	(4,277)	(15,589)
Selling, informational and administrative expenses	[6]	(335)	(267)	(196)
Research and development expenses	[7]	282	219	272
Acquired in-process research and development expenses	[8]	2	(13)	(339)
Restructuring charges and certain acquisition-related costs	[9]	45	0	0
Other income/(deductions)—net		(15)	25	50
Collaborative Arrangement [Member] | Product [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues—Revenues	[10]	175	212	437
Collaborative Arrangement [Member] | Royalty [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenues—Revenues	[11]	$ 923	$ 605	$ 614
[1] Exclusive of amortization of intangible assets. See Note 17A . See Note 1A . Substantially all relates to amounts earned from our partners under co-promotion agreements. The increase in 2024 was primarily driven by an increase in Alliance revenues from Eliquis and Xtandi, partially offset by a decrease in Alliance revenues from Bavencio. The decrease in 2023 was primarily driven by a decline in Alliance revenues from Comirnaty, partially offset by an increase in Alliance revenues from Eliquis. Primarily relates to amounts paid to collaboration partners for their share of net sales or profits earned in collaboration arrangements where we are the principal in the transaction, and cost of sales for inventory purchased from our partners. The decreases in 2024 and in 2023 primarily relate to Comirnaty. Represents net reimbursements to our partners for selling, informational and administrative expenses incurred. Represents net reimbursements from our partners for research and development expenses incurred. Primarily relates to upfront payments to our partners as well as premiums paid on our equity investments in the common stock of our partners. Relates to exit costs associated with terminating a collaboration with SMPS. Represents sales to our partners of products manufactured by us. Primarily relates to royalties from our collaboration partners.

Acquisitions, Divestitures, _15

Acquisitions, Divestitures, Equity-Method Investments, Collaborative Arrangements and Research and Development Arrangement - Research and Development Arrangement (Details) - Blackstone [Member] - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development arrangement, maximum funding amount	$ 550
Research and development arrangement, funding to offset costs incurred		$ 135	$ 175
Clinical Trial Agreement Terms [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Maximum potential consideration	468
Net Sales and Royalty Agreement Terms [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Maximum potential consideration	$ 550

Restructuring Charges and Oth_3

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Narrative (Detail) - USD ($) $ in Millions		12 Months Ended			15 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)	[1]	$ 1,987	$ 1,968	$ 882
Biopharma [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)		1,800		$ 796
Realigning Our Cost Base Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred to date		2,600			$ 2,600
Expected cost		2,900			2,900
Realigning Our Cost Base Program [Member] | Biopharma [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred to date		2,100			2,100
Expected cost		2,200			2,200
Restructuring charge (credit)		571	$ 1,400		2,000
Manufacturing Optimization Program - Phase One [Member] | Biopharma [Member]
Restructuring Cost and Reserve [Line Items]
Expected cost		1,600			1,600
Manufacturing Optimization Program [Member] | Biopharma [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred to date		1,200			$ 1,200
Restructuring charge (credit)		$ 1,200
[1] Primarily represents cost-reduction initiatives. Amounts associated with our Biopharma segment: charges of $1.8 billion for 2024 (including charges of $1.2 billion for our Manufacturing Optimization Program and charges of $571 million for our Realigning our Cost Base Program), $1.5 billion for 2023 (including charges of $1.4 billion for our Realigning our Cost Base Program and charges of $3 million for our Transforming to a More Focused Company program, that we have substantially completed) and $796 million for 2022 (including charges of $601 million for our Transforming to a More Focused Company program).

Restructuring Charges and Oth_4

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Costs (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring charges:
Employee terminations		$ 1,152	$ 1,622	$ 776
Asset impairments		432	227	52
Exit costs		403	119	54
Total restructuring charges/(credits)	[1]	1,987	1,968	882
Transaction costs	[2]	5	190	144
Integration costs and other	[3]	427	785	348
Restructuring charges and certain acquisition-related costs		2,419	2,943	1,375
Additional depreciation––asset restructuring recorded in our consolidated statements of income as follows	[4]	19	32	36
Implementation costs recorded in our consolidated statements of income as follows:
Implementation costs	[5]	294	457	616
Total costs associated with acquisitions and cost-reduction/productivity initiatives		2,738	3,426	2,018
Other (Income)/Deductions--net [Member]
Restructuring charges:
Net periodic benefit costs/(credits) recorded in Other (income)/deductions––net		7	(7)	(9)
Cost of Sales [Member]
Restructuring charges:
Additional depreciation––asset restructuring recorded in our consolidated statements of income as follows	[4]	14	31	34
Implementation costs recorded in our consolidated statements of income as follows:
Implementation costs	[5]	120	67	54
Selling, Informational and Administrative Expenses [Member]
Restructuring charges:
Additional depreciation––asset restructuring recorded in our consolidated statements of income as follows	[4]	5	1	2
Implementation costs recorded in our consolidated statements of income as follows:
Implementation costs	[5]	90	289	560
Research and Development Expense [Member]
Implementation costs recorded in our consolidated statements of income as follows:
Implementation costs	[5]	$ 84	$ 101	$ 2
[1] Primarily represents cost-reduction initiatives. Amounts associated with our Biopharma segment: charges of $1.8 billion for 2024 (including charges of $1.2 billion for our Manufacturing Optimization Program and charges of $571 million for our Realigning our Cost Base Program), $1.5 billion for 2023 (including charges of $1.4 billion for our Realigning our Cost Base Program and charges of $3 million for our Transforming to a More Focused Company program, that we have substantially completed) and $796 million for 2022 (including charges of $601 million for our Transforming to a More Focused Company program). Represents external costs for banking, legal, accounting and other similar services. Represents external, incremental costs directly related to integrating acquired businesses, such as expenditures for consulting and the integration of systems and processes, and certain other qualifying costs. 2023 costs mostly relate to our acquisition of Seagen, including $476 million that was recognized as a post-closing compensation expense for payments to Seagen employees in the fourth quarter of 2023 for the fair value of long-term incentive awards that vested upon closing and the expense for employee incentive awards issued in contemplation of the merger. 2022 costs mostly related to our acquisitions of Arena and GBT, including $138 million in payments to Arena employees in the first quarter of 2022 and $136 million in payments to GBT employees in the fourth quarter of 2022 for the fair value of previously unvested long-term incentive awards that was recognized as post-closing compensation expense. See Note 2A . Represents the impact of changes in the estimated useful lives of assets involved in restructuring actions. Represents external, incremental costs directly related to implementing our non-acquisition-related cost-reduction/productivity initiatives.

Restructuring Charges and Oth_5

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Costs - Footnotes (Detail) - USD ($) $ in Millions				3 Months Ended			12 Months Ended			15 Months Ended
		Oct. 05, 2022	Mar. 11, 2022	Dec. 31, 2023	Dec. 31, 2022	Apr. 03, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)	[1]						$ 1,987	$ 1,968	$ 882
Seagen [Member]
Restructuring Cost and Reserve [Line Items]
Post closing compensation expense				$ 476
Seagen [Member] | Restructuring Charges and Acquisition-Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Post closing compensation expense				$ 476
Arena [Member]
Restructuring Cost and Reserve [Line Items]
Post closing compensation expense			$ 138
Arena [Member] | Restructuring Charges and Acquisition-Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Post closing compensation expense						$ 138
GBT [Member] | Restructuring Charges and Acquisition-Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Post closing compensation expense		$ 136			$ 136
Biopharma [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)							1,800		796
Biopharma [Member] | Manufacturing Optimization Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)							1,200
Biopharma [Member] | Realigning Our Cost Base Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)							$ 571	1,400		$ 2,000
Biopharma [Member] | Realigning Our Cost Base Program [Member] | One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)										$ 1,500
Biopharma [Member] | Transforming to a More Focused Company Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge (credit)								$ 3	$ 601
[1] Primarily represents cost-reduction initiatives. Amounts associated with our Biopharma segment: charges of $1.8 billion for 2024 (including charges of $1.2 billion for our Manufacturing Optimization Program and charges of $571 million for our Realigning our Cost Base Program), $1.5 billion for 2023 (including charges of $1.4 billion for our Realigning our Cost Base Program and charges of $3 million for our Transforming to a More Focused Company program, that we have substantially completed) and $796 million for 2022 (including charges of $601 million for our Transforming to a More Focused Company program).

Restructuring Charges and Oth_6

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Restructuring Accruals (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Beginning balance		$ 1,988	[1]	$ 1,204
Provision	[2]	1,987		1,968		$ 882
Utilization and other	[3]	(1,856)		(1,184)
Ending balance		2,120	[4]	1,988	[1]	1,204
Employee Termination Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance		1,978	[1]	1,196
Provision		1,152		1,622
Utilization and other	[3]	(1,083)		(840)
Ending balance		2,046	[4]	1,978	[1]	1,196
Asset Impairment Charges [Member]
Restructuring Reserve [Roll Forward]
Beginning balance		0	[1]	0
Provision		432		227
Utilization and other	[3]	(432)		(227)
Ending balance		0	[4]	0	[1]	0
Exit Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance		11	[1]	8
Provision		403		119
Utilization and other	[3]	(341)		(116)
Ending balance		$ 74	[4]	$ 11	[1]	$ 8
[1] Included in Other current liabilities ($1.3 billion) and Other noncurrent liabilities ($663 million). Primarily represents cost-reduction initiatives. Amounts associated with our Biopharma segment: charges of $1.8 billion for 2024 (including charges of $1.2 billion for our Manufacturing Optimization Program and charges of $571 million for our Realigning our Cost Base Program), $1.5 billion for 2023 (including charges of $1.4 billion for our Realigning our Cost Base Program and charges of $3 million for our Transforming to a More Focused Company program, that we have substantially completed) and $796 million for 2022 (including charges of $601 million for our Transforming to a More Focused Company program). Other activity includes adjustments for foreign currency translation that are not material to our consolidated financial statements. Included in Other current liabilities ($1.7 billion) and Other noncurrent liabilities ($437 million).

Restructuring Charges and Oth_7

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives - Restructuring Accruals - Footnotes (Detail) - USD ($) $ in Millions	Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 2,120	[1]	$ 1,988	[2]	$ 1,204
Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	1,700		1,300
Other Noncurrent Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 437		$ 663
[1] Included in Other current liabilities ($1.7 billion) and Other noncurrent liabilities ($437 million). Included in Other current liabilities ($1.3 billion) and Other noncurrent liabilities ($663 million).

Other (Income)_Deductions_Net -

Other (Income)/Deductions—Net - Schedule of Other Nonoperating Income (Expense) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Other Income and Expenses [Abstract]
Interest income		$ (545)		$ (1,624)		$ (251)
Interest expense	[1]	3,091		2,209		1,238
Net interest expense	[2]	2,546		585		987
Net (gains)/losses recognized during the period on equity securities	[3]	(1,008)	[4]	(1,590)	[4]	1,273
Income from collaborations, out-licensing arrangements and sales of compound/product rights		(42)		(154)		(188)
Net periodic benefit costs/(credits) other than service costs		154		(610)		(849)
Certain legal matters, net	[5]	567		474		230
Certain asset impairments	[6]	3,295		3,024		421
Haleon equity method (income)/loss	[7]	(102)		(505)		(436)
Other, net	[8]	(1,022)		(1,002)		(378)
Other (income)/deductions––net		$ 4,388		$ 222		$ 1,062
Impairment, Intangible Asset, Statement Of Income Or Comprehensive Income, Extensible Enumeration, Not Disclosed Flag		Consolidated Statements of Operations
[1] Capitalized interest totaled $182 million in 2024, $160 million in 2023 and $124 million in 2022. The increase in net interest expense in 2024 reflects (i) a decrease in interest income due to lower investment balances after completion of our $43.4 billion Seagen acquisition in December 2023 and (ii) higher interest expense driven by our $31 billion aggregate principal amount of senior unsecured notes issued in May 2023, as well as the remaining balance of the $8 billion of commercial paper issued in the fourth quarter of 2023, both part of the financing for our acquisition of Seagen. (c) 2024 net gains primarily include, among other things, an unrealized gain of $1.0 billion related to our investment in Haleon, which is now carried at fair value (see Note 2C ). 2023 net gains primarily included, among other things, a realized gain of $1.7 billion related to our investment in Telavant Holdings, Inc. and unrealized gains of $297 million related to our investment in Cerevel Therapeutics Holdings, Inc., partially offset by unrealized losses of $292 million related to our investment in BioNTech. 2022 net losses included, among other things, unrealized losses of $986 million related to investments in BioNTech, Allogene Therapeutics, Inc. and Arvinas. Reported in Other (income)/deductions –– net . See Note 4 . 2024 primarily includes certain product liability expenses related to products discontinued and/or divested by Pfizer. 2023 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer and legal obligations related to pre-acquisition matters. 2022 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer. The amount for 2024 represents intangible asset impairment charges, and includes $2.9 billion recorded in the fourth quarter associated with our Biopharma segment, due to changes in development plans and updated long-range commercial forecasts, composed of: (i) $1.0 billion for B7H4V (felmetatug vedotin), a Phase 1 IPR&D asset, (ii) $475 million for Medrol, a finite-lived brand, (iii) $435 million for Zavzpret nasal spray developed technology rights, (iv) $400 million and $200 million for Tukysa and disitamab vedotin, respectively, IPR&D assets reflecting emerging competition, as well as (v) other developed technology rights, IPR&D impairments and a finite-lived licensing agreement totaling $436 million which also includes de-prioritization of certain assets. 2024 also includes a $240 million intangible asset impairment charge, associated with our Biopharma segment that represents IPR&D related to a Phase 3 study for the treatment of DMD, which reflects unfavorable clinical trial results. The amount for 2023 primarily represented intangible asset impairment charges of $3.0 billion, of which $2.9 billion was associated with our Biopharma segment ($2.8 billion recorded in the fourth quarter), including: (i) $1.4 billion for etrasimod (Velsipity) IPR&D, based on a change in development plans for additional indications and overall revenue expectations, (ii) $964 million for Prevnar 13 developed technology rights due to updated commercial forecasts mainly reflecting a transition to vaccines with higher serotype coverage, as well as (iii) $486 million for various other IPR&D assets and developed technology rights, due to updated commercial forecasts mainly reflecting competitive pressures and/or prioritization decisions. 2023 also included $128 million associated with Other business activities, related to IPR&D and developed technology rights for acquired software assets and reflected unfavorable pivotal trial results and updated commercial forecasts. 2022 represented intangible asset impairment charges associated with our Biopharma segment of $200 million for an IPR&D asset for the unapproved indication of symptomatic dilated cardiomyopathy due to a mutation of the gene encoding the lamin A/C protein that resulted from the Phase 3 trial reaching futility at a pre-planned interim analysis and $171 million for developed technology rights due to updated commercial forecasts mainly reflecting competitive pressures. 2022 also included intangible asset impairment charges of $50 million associated with PC1, related to finite-lived licensing agreements, and reflected updated contract manufacturing forecasts reflecting changes to market dynamics. See Note 2C . The amount for 2024 primarily includes, among other things, (i) gains of $945 million on the partial sales of our investment in Haleon in March and October 2024, (ii) dividend income of $272 million from our investment in ViiV and (iii) a charge of $420 million recorded in the third quarter related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program . 2023 included, among other things, (i) dividend income of $265 million from our investment in ViiV and $211 million from our investment in Nimbus resulting from Takeda’s acquisition of Nimbus’s oral, selective allosteric tyrosine kinase 2 (TYK2) inhibitor program subsidiary and (ii) a $222 million gain on the divestiture of our early-stage rare disease gene therapy portfolio to Alexion. 2022 included, among other things, (i) dividend income of $314 million from our investment in ViiV, (ii) income net of costs associated with TSAs of $142 million and (iii) charges of $77 million, reflecting the change in the fair value of contingent consideration.

Other (Income)_Deductions_Net_2

Other (Income)/Deductions—Net - Schedule of Other Nonoperating Income (Expense) - Footnotes (Details) $ in Millions				3 Months Ended			12 Months Ended
		Dec. 14, 2023 USD ($)	Sep. 19, 2023 USD ($)	Dec. 31, 2024 USD ($)	Sep. 29, 2024 USD ($) facility	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)		May 31, 2023 USD ($)
Derivative [Line Items]
Interest costs capitalized							$ 182	$ 160	$ 124
Business acquisition, cash payment, net of cash acquired							0	43,430	22,997
Commercial paper, principal amount	[1]			$ 2,453		$ 7,965	2,453	7,965
Realized gain							1,122	1,754	126
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date	[2]						114	165	1,400
Intangible asset impairments							3,295	3,000
Charge related to expected sale of facilities					$ 420
Number of facilities for sale | facility					1
Pre-tax gain on divestiture			$ 222					222
Other income, net	[3]						$ 1,022	$ 1,002	378
Intangible Asset, Statement Of Income Or Comprehensive Income Extensible Enumeration, Not Disclosed Flag							Consolidated Statements of Operations	Consolidated Statements of Operations
Unsecured Debt [Member]
Derivative [Line Items]
Debt instrument, face amount											$ 31,000
Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments				2,900		2,800		$ 2,900
Biopharma [Member] | Other Developed Technology Rights, In-Process Research and Development and Finite-Lived Licensing Agreement [Member]
Derivative [Line Items]
Intangible asset impairments							$ 436
Biopharma [Member] | Other In Process Research and Development and Developed Technology Rights [Member]
Derivative [Line Items]
Intangible asset impairments								486
Transition Service Agreement [Member]
Derivative [Line Items]
Other income, net									142
IPR&D [Member]
Derivative [Line Items]
Intangible asset impairments	[4]						1,873
IPR&D [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments							240	128	200	[4]
IPR&D [Member] | B7H4V (felmetatug vedotin) [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments				1,000
IPR&D [Member] | Tukysa [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments				400
IPR&D [Member] | disitamab vedotin [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments							200
IPR&D [Member] | Etrasimod (Velsipity) [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments								1,400
Developed Technology Rights [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments									171
Haleon [Member]
Derivative [Line Items]
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date							(1,000)
Gain on sale of equity method investment							945
Telavant Holdings, Inc. [Member]
Derivative [Line Items]
Realized gain								1,700
Cerevel Therapeutics Holdings, Inc. [Member]
Derivative [Line Items]
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date								(297)
BioNTech [Member]
Derivative [Line Items]
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date								292
BioNTech and Cerevel Therapeutics, LLC [Member]
Derivative [Line Items]
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date									986
ViiV [Member]
Derivative [Line Items]
Dividend income							272	265	314
ViiV [Member] | Biopharma [Member]
Derivative [Line Items]
Dividend income							272	265	314
Nimbus [Member]
Derivative [Line Items]
Dividend income								211
Brand [Member]
Derivative [Line Items]
Intangible asset impairments	[4]						475
Brand [Member] | Medrol [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments				475
Developed Technology Rights [Member]
Derivative [Line Items]
Intangible asset impairments	[4]						943
Developed Technology Rights [Member] | Zavzpret [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments				$ 435
Developed Technology Rights [Member] | Prevnar 13 [Member] | Biopharma [Member]
Derivative [Line Items]
Intangible asset impairments								964
Licensing Agreements and Other [Member]
Derivative [Line Items]
Intangible asset impairments	[4]						$ 5
Seagen [Member]
Derivative [Line Items]
Business acquisition, cash payment, net of cash acquired		$ 43,400
Commercial paper, principal amount						$ 8,000		$ 8,000
Hospira [Member] | Licensing Agreements and Other [Member] | Generic Sterile Injectable Product [Member]
Derivative [Line Items]
Intangible asset impairments									50
ViiV [Member]
Derivative [Line Items]
Change in fair value of fair value contingent consideration liabilities									$ 77
[1] Issued in the fourth quarter of 2023 as part of the financing for our acquisition of Seagen (see Note 2A ). The weighted-average effective interest rate on commercial paper outstanding was approximately 4.94% as of December 31, 2024 and 5.37% as of December 31, 2023. The amount for 2024 primarily includes, among other things, (i) gains of $945 million on the partial sales of our investment in Haleon in March and October 2024, (ii) dividend income of $272 million from our investment in ViiV and (iii) a charge of $420 million recorded in the third quarter related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program . 2023 included, among other things, (i) dividend income of $265 million from our investment in ViiV and $211 million from our investment in Nimbus resulting from Takeda’s acquisition of Nimbus’s oral, selective allosteric tyrosine kinase 2 (TYK2) inhibitor program subsidiary and (ii) a $222 million gain on the divestiture of our early-stage rare disease gene therapy portfolio to Alexion. 2022 included, among other things, (i) dividend income of $314 million from our investment in ViiV, (ii) income net of costs associated with TSAs of $142 million and (iii) charges of $77 million, reflecting the change in the fair value of contingent consideration. Reflects intangible assets written down to fair value in 2024. Fair value was determined using the income approach, specifically the multi-period excess earnings method, also known as the discounted cash flow method. We started with a forecast of all the expected net cash flows for the asset and then applied an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows, which includes the expected impact of competitive, legal and/or regulatory forces on the product; and assumptions about the probability of technical and regulatory success (PTRS) of ongoing clinical trials, the discount rate, which seeks to reflect the various risks inherent in the projected cash flows; and the tax rate, which seeks to incorporate the geographic diversity of the projected cash flows.

Other (Income)_Deductions_Net_3

Other (Income)/Deductions—Net - Schedule of Additional Information About Intangible Assets Impaired (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets, fair value	[1]	$ 5,694
Intangible asset impairments		3,295	$ 3,000
Developed Technology Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	524
Intangible asset impairments	[2]	943
Brand [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	270
Intangible asset impairments	[2]	475
Licensing Agreements and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Intangible asset impairments	[2]	5
IPR&D [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IPR&D	[1],[2]	4,900
Intangible asset impairments	[2]	1,873
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets, fair value	[1]	0
Level 1 [Member] | Developed Technology Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Level 1 [Member] | Brand [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Level 1 [Member] | Licensing Agreements and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Level 1 [Member] | IPR&D [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IPR&D	[1],[2]	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets, fair value	[1]	0
Level 2 [Member] | Developed Technology Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Level 2 [Member] | Brand [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Level 2 [Member] | Licensing Agreements and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Level 2 [Member] | IPR&D [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IPR&D	[1],[2]	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets, fair value	[1]	5,694
Level 3 [Member] | Developed Technology Rights [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	524
Level 3 [Member] | Brand [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	270
Level 3 [Member] | Licensing Agreements and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finite-lived	[1],[2]	0
Level 3 [Member] | IPR&D [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IPR&D	[1],[2]	$ 4,900
[1] The fair value amounts are presented as of the date of impairment, as these assets are not measured at fair value on a recurring basis. See also Note 1E . Reflects intangible assets written down to fair value in 2024. Fair value was determined using the income approach, specifically the multi-period excess earnings method, also known as the discounted cash flow method. We started with a forecast of all the expected net cash flows for the asset and then applied an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows, which includes the expected impact of competitive, legal and/or regulatory forces on the product; and assumptions about the probability of technical and regulatory success (PTRS) of ongoing clinical trials, the discount rate, which seeks to reflect the various risks inherent in the projected cash flows; and the tax rate, which seeks to incorporate the geographic diversity of the projected cash flows.

Tax Matters - Income from Conti

Tax Matters - Income from Continuing Operations Before Provision for Taxes on Income (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States		$ (637)	$ (4,411)	$ 5,032
International		8,660	5,469	29,697
Income from continuing operations before provision/(benefit) for taxes on income	[1],[2],[3]	$ 8,023	$ 1,058	$ 34,729
[1] Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss). As described above, in connection with the organizational changes effective in the first quarter of 2024, overhead costs associated with our manufacturing operations and costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations as they operated in 2024 are included in Biopharma’s earnings. We have reclassified $14.7 billion and $9.2 billion of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. 2023 v. 2022 –– The domestic loss in 2023 versus domestic income in 2022 and the decrease in international income in 2023 was primarily attributable to lower revenues, higher intangible asset impairment charges, and increases in Restructuring charges and certain acquisition-related costs , Amortization of intangible assets , and Selling, informational and administrative expenses , partially offset by a decrease in Cost of sales and net gains on equity securities in 2023 versus net losses on equity securities in 2022 . 2024 v. 2023 –– The reduction in the domestic loss in 2024 versus the domestic loss in 2023 is primarily attributable to increased revenues offset by higher restructuring charges and asset impairment charges. The increase in the international income is primarily attributable to lower: Cost of Sales , Restructuring charges and certain acquisition-related costs and asset impairment charges.

Tax Matters - Provision for Tax

Tax Matters - Provision for Taxes on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current income taxes:
Federal	$ 453	$ 1,321	$ 2,744
State and local	32	(135)	(20)
Deferred income taxes:
Federal	(1,909)	(2,606)	(3,271)
State and local	(293)	(184)	(310)
Total U.S. tax provision/(benefit)	(1,717)	(1,605)	(857)
International
Current income taxes	1,588	1,142	4,368
Deferred income taxes	100	(652)	(183)
Total international tax provision/(benefit)	1,689	490	4,185
Provision/(benefit) for taxes on income	$ (28)	$ (1,115)	$ 3,328

Tax Matters - Narrative (Detail

Tax Matters - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Provision/(benefit) for taxes on income	$ (28)	$ (1,115)	$ 3,328
Repatriation tax liability	15,000
Unremitted earnings of international subsidiaries	58,000
Unrecognized tax benefits excluding associated interest	2,000	3,100
Deferred tax assets associated with unrecognized tax benefits	2,500	1,700
Increase (decrease) of interest on income taxes expense	91	64	$ (17)
Unrecognized tax benefits, interest on income taxes accrued	636	605
Unrecognized accrued interest decrease as a result of cash payments	56	$ 11
Decrease in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit	$ 200

Tax Matters - Schedule of Cash

Tax Matters - Schedule of Cash Paid for Income Taxes, Net of Refunds (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ 2,593	$ 1,923	$ 3,867
International	1,012	1,224	4,000
Total	$ 3,605	$ 3,147	$ 7,867

Tax Matters - Tax Rate Reconcil

Tax Matters - Tax Rate Reconciliation (Details)		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	[1]	Dec. 31, 2022
Income Tax Disclosure [Abstract]
U.S. statutory income tax rate		21%	21%		21%
Taxation of non-U.S. operations	[2],[3]	(7.90%)	(21.10%)		(5.00%)
Transition Tax liability	[4]	(6.00%)	0%		0%
Tax settlements and resolution of certain tax positions	[4]	(2.40%)	(40.30%)		(3.00%)
Foreign-Derived Intangible Income deduction	[5]	(1.20%)	(33.10%)		(1.90%)
State & local taxes	[6]	(2.50%)	(22.40%)		0%
Charitable contributions		(1.70%)	(7.30%)		(0.50%)
U.S. R&D tax credit		(1.80%)	(15.80%)		(0.60%)
Interest	[7]	2.20%	13.50%		0.20%
All other, net	[8]	0.10%	0.20%		(0.60%)
Effective tax rate for income from continuing operations		(0.40%)	(105.40%)		9.60%
[1]The higher rate percentages for the 2023 reconciling items are significantly impacted by the lower domestic and international Income from continuing operations before provision/(benefit) for taxes on income (see Note 5A ) . For taxation of non-U.S. operations, this rate impact reflects the income tax rates and relative earnings in the locations where we do business outside the U.S., together with the U.S. tax cost on our international operations, changes in uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions,” as well as changes in valuation allowances. Specifically: (i) the jurisdictional location of earnings is a significant component of our effective tax rate each year, and the rate impact of this component is influenced by the specific location of non-U.S. earnings and the level of such earnings as compared to our total earnings; (ii) the U.S. tax implications of our foreign operations is a significant component of our effective tax rate each year and generally offsets some of the reduction to our effective tax rate each year resulting from the jurisdictional location of earnings; (iii) the impact of certain tax initiatives; and (iv) the impact of changes in uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions” is a component of our effective tax rate each year that can result in either an increase or decrease to our effective tax rate. The jurisdictional mix of earnings, which includes the impact of the location of earnings as well as the U.S. tax cost on our international operations, can vary as a result of operating fluctuations in the normal course of business and as a result of the extent and location of other income and expense items, such as restructuring charges, asset impairments and gains and losses on strategic business decisions. See also Note 5A for the components of pre-tax income and Provision/(benefit) for taxes on income, which is based on the location of the taxing authorities, and for information about settlements and other items impacting Provision/(benefit) for taxes on income . In all years, the reduction in our effective tax rate is a result of the jurisdictional location of earnings and is largely due to lower tax rates in certain jurisdictions, as well as manufacturing and other incentives for our subsidiaries in Singapore and, to a lesser extent, in Puerto Rico. We have Puerto Rican tax incentives pursuant to a grant that expires during 2053. Under such grant, we are partially exempt from income, property and municipal taxes. In Singapore, we have incentive tax rates effective through 2048 on income from manufacturing and other operations. See Note 5A . The higher rate benefit from the Foreign-Derived Intangible Income deduction in 2022 is mainly the result of the TCJA requirement to capitalize R&D costs for tax years beginning after December 31, 2021. Includes the impact of U.S. state and local taxes and changes in the state valuation allowances including those related to the acquisition of Seagen. Includes changes in interest related to our uncertain tax positions not included in the reconciling item called “Tax settlements and resolution of certain tax positions”. All other, net is primarily due to routine business operations.

Tax Matters - Deferred Taxes (D

Tax Matters - Deferred Taxes (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets
Prepaid/deferred items - Deferred tax assets	[1],[2]	$ 2,988	$ 2,658
Accrued/deferred royalties - Deferred tax assets	[2]	1,306	1,655
Deferred revenues - Deferred tax assets	[2]	300	471
Inventories - Deferred tax assets	[2],[3]	992	1,210
Intangible assets - Deferred tax assets	[2],[4]	1,435	1,526
Property, plant and equipment - Deferred tax assets	[2]	265	168
Employee benefits - Deferred tax assets	[2],[5]	1,002	1,085
Restructurings and other charges - Deferred tax assets	[2]	462	537
Legal and product liability reserves - Deferred tax assets	[2]	378	430
Research and development - Deferred tax assets	[2],[6]	7,635	6,275
Net operating loss/tax credit carryforwards - Deferred tax assets	[2],[7]	2,028	2,708
State and local tax adjustments - Deferred tax assets	[2]	161	119
Investments - Deferred tax assets	[2]	73	133
All other - Deferred tax assets	[2]	87	62
Subtotal - Deferred tax assets	[2]	19,112	19,037
Valuation allowances	[2]	(1,638)	(1,738)
Total deferred taxes - Deferred tax assets	[2]	17,474	17,299
Deferred Tax Liabilities
Prepaid/deferred items - Deferred tax liabilities	[1],[2]	(847)	(654)
Inventories - Deferred tax liabilities	[2],[3]	(702)	(1,060)
Intangible assets - Deferred tax liabilities	[2],[4]	(9,066)	(11,605)
Property, plant and equipment - Deferred tax liabilities	[2]	(1,751)	(2,039)
Employee benefits - Deferred tax liabilities	[2],[5]	(274)	(287)
Unremitted earnings - Deferred tax liabilities	[2]	(69)	(60)
Investments - Deferred tax liabilities	[2]	(248)	(395)
All other - Deferred tax liabilities	[2]	(66)	(72)
Deferred tax liabilities, gross	[2]	(13,023)	(16,172)
Net deferred tax asset	[2],[8],[9]	$ 4,451	$ 1,128
[1] The increase in net deferred tax assets in 2024 is primarily related to temporary differences associated with the timing of accruals recorded in the ordinary course of business. Note 1Q . The increase in net deferred tax assets in 2024 is primarily due to measurement period adjustments of inventories related to Seagen. See Note 2A . The decrease in net deferred tax liabilities in 2024 is primarily due to amortization of intangible assets and certain impairment charges, as well as the measurement period adjustments of intangible assets related to Seagen. The decrease in net deferred tax assets in 2024 is primarily due to changes in pension and postretirement benefit obligations, as well as the performance of plan assets reported in the period. See Note 11 . The increase in deferred tax assets in 2024 is primarily related to the TCJA requirement to capitalize R&D costs for tax years beginning after December 31, 2021. The amounts in 2024 and 2023 are reduced for unrecognized tax benefits of $575 million and $1.3 billion, respectively, where we have net operating loss carryforwards, similar tax losses, and/or tax credit carryforwards that are available, under the tax law of the applicable jurisdiction, to settle any additional income taxes that would result from the disallowance of a tax position. Excludes indefinite- and definite-lived deferred tax assets for certain non-U.S. tax losses and interest carryforwards and U.S. state general business credits, totaling $11.3 billion and $11.1 billion for 2024 and 2023 respectively, given that management has determined based on applicable accounting rules that it is remote that these tax attributes will be utilized. In 2024, Noncurrent deferred tax assets and other noncurrent tax assets ($6.6 billion), and Noncurrent deferred tax liabilities ($2.1 billion). In 2023, Noncurrent deferred tax assets and other noncurrent tax assets ($1.8 billion), and Noncurrent deferred tax liabilities ($640 million).

Tax Matters - Deferred Taxes -

Tax Matters - Deferred Taxes - Footnotes (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Income Tax Examination [Line Items]
Reduction for unrecognized tax benefit		$ 575	$ 1,300
Net deferred tax asset	[1],[2],[3]	4,451	1,128
Indefinite-lived and definite-lived		11,300	11,100
Noncurrent Deferred Tax Assets and Other Noncurrent Tax Assets [Member]
Income Tax Examination [Line Items]
Net deferred tax asset		6,600	1,800
Noncurrent Deferred Tax Liabilities [Member]
Income Tax Examination [Line Items]
Net deferred tax liability		$ 2,100	$ 640
[1] Excludes indefinite- and definite-lived deferred tax assets for certain non-U.S. tax losses and interest carryforwards and U.S. state general business credits, totaling $11.3 billion and $11.1 billion for 2024 and 2023 respectively, given that management has determined based on applicable accounting rules that it is remote that these tax attributes will be utilized. In 2024, Noncurrent deferred tax assets and other noncurrent tax assets ($6.6 billion), and Noncurrent deferred tax liabilities ($2.1 billion). In 2023, Noncurrent deferred tax assets and other noncurrent tax assets ($1.8 billion), and Noncurrent deferred tax liabilities ($640 million). Note 1Q .

Tax Matters - Reconciliation of

Tax Matters - Reconciliation of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning		$ (4,802)	[1]	$ (4,494)	[1]	$ (6,068)
Acquisitions		8		(46)		(52)
Increases based on tax positions taken during a prior period	[2],[3]	(934)		(158)		(67)
Decreases based on tax positions taken during a prior period	[3],[4]	599		310		1,339
Decreases based on settlements for a prior period	[4],[5]	911		85		842
Increases based on tax positions taken during the current period	[3]	(433)		(515)		(701)
Impact of foreign exchange		52		(44)		90
Other, net	[3],[6]	70		58		122
Balance, ending	[1]	$ (4,530)		$ (4,802)		$ (4,494)
[1] In 2024, included in Income taxes payable ($103 million), Other current assets ($0.4 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.5 billion), Noncurrent deferred tax liabilities ($3 million) and Other taxes payable ($2.9 billion). In 2023, included in Income taxes payable ($94 million), Other current assets ($1 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.3 billion), Noncurrent deferred tax liabilities ($4 million) and Other taxes payable ($3.4 billion). In 2024, the amount includes a gross unrecognized tax benefit associated with the expected filing of an amended income tax return related to the Transition Tax liability under the TCJA. Primarily included in Provision/(benefit) for taxes on income. Primarily related to effectively settling certain issues with the U.S. and foreign tax authorities. See Not e 5A . Primarily related to cash payments and reductions of tax attributes. Primarily related to decreases as a result of a lapse of applicable statutes of limitations.

Tax Matters - Reconciliation _2

Tax Matters - Reconciliation of Gross Unrecognized Tax Benefits - Footnotes (Details) - USD ($) $ in Millions	Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022	[1]	Dec. 31, 2021
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 4,530	[1]	$ 4,802	[1]	$ 4,494		$ 6,068
Income Taxes Payable [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefits	103		94
Other Current Tax Assets [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefits	0.4		1
Noncurrent Deferred Tax Assets and Other Noncurrent Tax Assets [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefits	1,500		1,300
Noncurrent Deferred Tax Liabilities [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefits	3		4
Other Taxes Payable [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 2,900		$ 3,400
[1] In 2024, included in Income taxes payable ($103 million), Other current assets ($0.4 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.5 billion), Noncurrent deferred tax liabilities ($3 million) and Other taxes payable ($2.9 billion). In 2023, included in Income taxes payable ($94 million), Other current assets ($1 million), Noncurrent deferred tax assets and other noncurrent tax assets ($1.3 billion), Noncurrent deferred tax liabilities ($4 million) and Other taxes payable ($3.4 billion).

Tax Matters - Taxes on Items of

Tax Matters - Taxes on Items of Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax Expense/(Benefit) on Other Comprehensive Income/(Loss)
Foreign currency translation adjustments, net	[1]	$ 156	$ (33)	$ (126)
Unrealized holding gains/(losses) on derivative financial instruments, net		96	111	183
Reclassification adjustments for (gains)/losses included in net income		(29)	(93)	(270)
Other comprehensive income (loss), derivatives qualifying as hedges, tax, total		67	18	(87)
Unrealized holding gains/(losses) on available-for-sale securities, net		(19)	(15)	(164)
Reclassification adjustments for (gains)/losses included in net income		5	(18)	226
Other comprehensive income (loss), available-for-sale securities, tax, total		(14)	(33)	62
Benefit plans: prior service (costs)/credits and other, net		45	(5)	(5)
Reclassification adjustments related to amortization of prior service costs and other, net		(26)	(28)	(29)
Reclassification adjustments related to curtailments of prior service costs and other, net		2	(4)	(3)
Other comprehensive income (loss), pension and other postretirement benefit plans, net prior service cost (credit), tax		22	(37)	(37)
Tax provision/(benefit) on other comprehensive income/(loss)		$ 231	$ (85)	$ (187)
[1] Taxes are not provided for foreign currency translation adjustments relating to investments in international subsidiaries that are expected to be held indefinitely.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		$ 89,288	$ 95,916	$ 77,462
Other comprehensive income/(loss)		116	331	(2,422)
Ending balance		88,497	89,288	95,916
Accumulated Other Comprehensive Income/(Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(7,961)	(8,304)	(5,897)
Other comprehensive income/(loss)	[1]	118	343	(2,407)
Ending balance		(7,842)	(7,961)	(8,304)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	[2]	(7,863)	(8,360)	(6,172)
Other comprehensive income/(loss)	[1],[2]	(121)	497	(2,188)
Ending balance	[2]	(7,984)	(7,863)	(8,360)
Derivative Financial Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(217)	(412)	119
Other comprehensive income/(loss)	[1]	274	195	(531)
Ending balance		57	(217)	(412)
Available-For-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(9)	220	(220)
Other comprehensive income/(loss)	[1]	(97)	(229)	440
Ending balance		(106)	(9)	220
Prior Service (Costs)/Credits and Other [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		128	248	377
Other comprehensive income/(loss)	[1]	63	(120)	(129)
Ending balance		$ 191	$ 128	$ 248
[1] Foreign currency translation adjustments include net gains/(losses) related to the impact of our net investment hedging program and gains/(losses) related to our investment in Haleon (see Note 2C ). Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests.

Financial Instruments - Financi

Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	[1]	$ 7,848	$ 5,124
Total other noncurrent assets		9,817	12,471
Total assets		213,396	226,501
Total liabilities		$ 1,366	$ 1,420
Derivative asset, statement of financial position		Other current assets, Total other noncurrent assets	Other current assets, Total other noncurrent assets
Derivative liability, statement of financial position		Other current liabilities, Other noncurrent liabilities	Other current liabilities, Other noncurrent liabilities
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current derivative assets		$ 1,056	$ 298
Noncurrent derivative assets		460	402
Insurance contracts	[2]	875	790
Total other noncurrent assets		1,335	1,191
Total assets		22,366	13,943
Current derivative liabilities		245	420
Noncurrent derivative liabilities		1,121	1,000
Total liabilities		1,366	1,420
Recurring [Member] | Interest rate contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent derivative assets		13	144
Current derivative liabilities		28	16
Noncurrent derivative liabilities		397	275
Recurring [Member] | Foreign exchange contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current derivative assets		1,056	298
Noncurrent derivative assets		447	258
Current derivative liabilities		217	404
Noncurrent derivative liabilities		723	725
Government and agency debt - non-U.S. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		6,855	941
Government and agency - U.S. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		2,853	2,601
Corporate and Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		1,173	1,007
Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current derivative assets		0	0
Noncurrent derivative assets		0	0
Insurance contracts	[2]	0	0
Total other noncurrent assets		0	0
Total assets		7,701	2,772
Current derivative liabilities		0	0
Noncurrent derivative liabilities		0	0
Total liabilities		0	0
Level 1 [Member] | Recurring [Member] | Interest rate contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent derivative assets		0	0
Current derivative liabilities		0	0
Noncurrent derivative liabilities		0	0
Level 1 [Member] | Recurring [Member] | Foreign exchange contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current derivative assets		0	0
Noncurrent derivative assets		0	0
Current derivative liabilities		0	0
Noncurrent derivative liabilities		0	0
Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current derivative assets		1,056	298
Noncurrent derivative assets		460	402
Insurance contracts	[2]	875	790
Total other noncurrent assets		1,335	1,191
Total assets		14,665	11,170
Current derivative liabilities		245	420
Noncurrent derivative liabilities		1,121	1,000
Total liabilities		1,366	1,420
Level 2 [Member] | Recurring [Member] | Interest rate contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Noncurrent derivative assets		13	144
Current derivative liabilities		28	16
Noncurrent derivative liabilities		397	275
Level 2 [Member] | Recurring [Member] | Foreign exchange contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current derivative assets		1,056	298
Noncurrent derivative assets		447	258
Current derivative liabilities		217	404
Noncurrent derivative liabilities		723	725
Short-term Investments [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	[3]	7,848	5,124
Available-for-sale securities, debt securities		10,881	4,400
Total short-term investments		18,729	9,524
Short-term Investments [Member] | Government and agency debt - non-U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		6,855	817
Short-term Investments [Member] | Government and agency - U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		2,853	2,601
Short-term Investments [Member] | Corporate and Other [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		1,173	982
Short-term Investments [Member] | Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	[3]	6,456	0
Available-for-sale securities, debt securities		0	0
Total short-term investments		6,456	0
Short-term Investments [Member] | Level 1 [Member] | Government and agency debt - non-U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	0
Short-term Investments [Member] | Level 1 [Member] | Government and agency - U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	0
Short-term Investments [Member] | Level 1 [Member] | Corporate and Other [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	0
Short-term Investments [Member] | Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	[3]	1,392	5,124
Available-for-sale securities, debt securities		10,881	4,400
Total short-term investments		12,273	9,524
Short-term Investments [Member] | Level 2 [Member] | Government and agency debt - non-U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		6,855	817
Short-term Investments [Member] | Level 2 [Member] | Government and agency - U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		2,853	2,601
Short-term Investments [Member] | Level 2 [Member] | Corporate and Other [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		1,173	982
Long-term Investments [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	[4]	1,246	2,779
Available-for-sale securities, debt securities		0	150
Total long-term investments		1,246	2,929
Long-term Investments [Member] | Government and agency debt - non-U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	124
Long-term Investments [Member] | Corporate and Other [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	26
Long-term Investments [Member] | Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	[4]	1,246	2,772
Available-for-sale securities, debt securities		0	0
Total long-term investments		1,246	2,772
Long-term Investments [Member] | Level 1 [Member] | Government and agency debt - non-U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	0
Long-term Investments [Member] | Level 1 [Member] | Corporate and Other [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	0
Long-term Investments [Member] | Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	[4]	0	7
Available-for-sale securities, debt securities		0	150
Total long-term investments		0	156
Long-term Investments [Member] | Level 2 [Member] | Government and agency debt - non-U.S. [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		0	124
Long-term Investments [Member] | Level 2 [Member] | Corporate and Other [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, debt securities		$ 0	$ 26
[1] As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt. Includes life insurance policies held in restricted trusts for U.S. non-qualified employee benefit plans. The underlying invested assets in these contracts are marketable securities, which are carried at fair value, with changes in fair value recognized in Other (income)/deductions—net (see Note 4 ) . Includes money market funds. As of December 31, 2024, short-term equity securities include our investment in Haleon of $6.5 billion. See Note 2C . Long-term equity securities of $133 million as of December 31, 2024 and $130 million as of December 31, 2023 were held in restricted trusts for U.S. non-qualified employee benefit plans.

Financial Instruments - Finan_2

Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - Footnotes (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities with readily determinable fair values	[1]	$ 7,848	$ 5,124
Haleon [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities with readily determinable fair values	[2]	6,500
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term equity securities held in trust		133	130
Recurring [Member] | Short-term Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities with readily determinable fair values	[2]	7,848	5,124
Recurring [Member] | Short-term Investments [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities with readily determinable fair values	[2]	$ 6,456	$ 0
[1] As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt. Includes money market funds. As of December 31, 2024, short-term equity securities include our investment in Haleon of $6.5 billion. See Note 2C .

Financial Instruments - Assets

Financial Instruments - Assets and Liabilities Not Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 57,405	$ 61,538
Level 2 [Member] | Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, excluding the current portion	$ 54,000	$ 61,000

Financial Instruments - Investm

Financial Instruments - Investments - Short-term, Long-term and Equity Method Investments (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Short-term investments
Equity securities with readily determinable fair values	[1]	$ 7,848	$ 5,124
Available-for-sale debt securities		10,881	4,400
Held-to-maturity debt securities		705	313
Total Short-term investments		19,434	9,837
Long-term investments
Equity securities with readily determinable fair values	[2]	1,246	2,779
Available-for-sale debt securities		0	150
Held-to-maturity debt securities		45	47
Private equity securities at cost	[2]	719	755
Long-term investments		2,010	3,731
Equity-method investments	[1]	217	11,637
Total long-term investments and equity-method investments		2,228	15,368
Held-to-maturity cash equivalents		$ 184	$ 207
[1] As of December 31, 2024, our investment in Haleon is reported in Short-term investments and as of December 31, 2023 was reported in Equity-method investments . See Note 2C . Short term equity securities as of December 31, 2024 include and as of December 31, 2023 represent money market funds primarily invested in U.S. Treasury and government debt. Represent investments in the life sciences sector.

Financial Instruments - Inves_2

Financial Instruments - Investments - Debt Securities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract]
Debt securities, amortized cost	$ 11,935	$ 5,126
Debt securities, gross unrealized gains	8	6
Debt securities, gross unrealized losses	(129)	(16)
Debt securities, fair value	11,814	5,115
Debt securities maturities, within 1 year, fair value	11,770
Debt securities maturities, over 1 to 5 years, fair value	25
Debt securities maturities, over 5 years, fair value	20
Government and agency debt - non-U.S. [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Available-for-sale debt securities, amortized cost	6,970	953
Available-for-sale debt securities, gross unrealized gain	8	2
Available-for-sale debt securities, gross unrealized loss	(123)	(14)
Available-for-sale securities, debt maturities	6,855	941
Available-for-sale Securities, Debt Maturities [Abstract]
Available-for-sale securities, debt maturities, within 1 year, fair value	6,855
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value	0
Available-for-sale securities, debt maturities, over 5 years, fair value	0
Available-for-sale securities, debt maturities	6,855	941
Debt Securities, Held-to-maturity, Maturity [Abstract]
Held-to-maturity securities, amortized cost	237	4
Held-to-maturity securities, gross unrealized gains	0	0
Held-to-maturity securities, gross unrealized losses	0	0
Held-to-maturity securities, fair value	237	4
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract]
Held-to-maturity securities, debt maturities, within 1 year, fair value	232
Held-to-maturity securities, debt maturities, over 1 to 5 years, fair value	4
Held-to-maturity securities, debt maturities, over 5 years, fair value	1
Government and agency - U.S. [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Available-for-sale debt securities, amortized cost	2,853	2,601
Available-for-sale debt securities, gross unrealized gain	0	0
Available-for-sale debt securities, gross unrealized loss	0	0
Available-for-sale securities, debt maturities	2,853	2,601
Available-for-sale Securities, Debt Maturities [Abstract]
Available-for-sale securities, debt maturities, within 1 year, fair value	2,853
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value	0
Available-for-sale securities, debt maturities, over 5 years, fair value	0
Available-for-sale securities, debt maturities	2,853	2,601
Corporate and Other [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Available-for-sale debt securities, amortized cost	1,179	1,006
Available-for-sale debt securities, gross unrealized gain	0	4
Available-for-sale debt securities, gross unrealized loss	(6)	(2)
Available-for-sale securities, debt maturities	1,173	1,007
Available-for-sale Securities, Debt Maturities [Abstract]
Available-for-sale securities, debt maturities, within 1 year, fair value	1,173
Available-for-sale securities, debt maturities, over 1 to 5 years, fair value	0
Available-for-sale securities, debt maturities, over 5 years, fair value	0
Available-for-sale securities, debt maturities	1,173	1,007
Time deposits and other [Member]
Debt Securities, Held-to-maturity, Maturity [Abstract]
Held-to-maturity securities, amortized cost	697	561
Held-to-maturity securities, gross unrealized gains	0	0
Held-to-maturity securities, gross unrealized losses	0	0
Held-to-maturity securities, fair value	697	$ 561
Debt Securities, Held-to-maturity, Maturity, Fair Value [Abstract]
Held-to-maturity securities, debt maturities, within 1 year, fair value	657
Held-to-maturity securities, debt maturities, over 1 to 5 years, fair value	21
Held-to-maturity securities, debt maturities, over 5 years, fair value	$ 19

Financial Instruments - Inves_3

Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Fair Value Disclosures [Abstract]
Net (gains)/losses recognized during the period on equity securities	[1]	$ (1,008)	[2]	$ (1,590)	[2]	$ 1,273
Less: Net (gains)/losses recognized during the period on equity securities sold during the period		(1,122)		(1,754)		(126)
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date	[3]	$ 114		$ 165		$ 1,400
[1] (c) 2024 net gains primarily include, among other things, an unrealized gain of $1.0 billion related to our investment in Haleon, which is now carried at fair value (see Note 2C ). 2023 net gains primarily included, among other things, a realized gain of $1.7 billion related to our investment in Telavant Holdings, Inc. and unrealized gains of $297 million related to our investment in Cerevel Therapeutics Holdings, Inc., partially offset by unrealized losses of $292 million related to our investment in BioNTech. 2022 net losses included, among other things, unrealized losses of $986 million related to investments in BioNTech, Allogene Therapeutics, Inc. and Arvinas. Reported in Other (income)/deductions –– net . See Note 4 .

Financial Instruments - Inves_4

Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities - Footnotes (Details) $ in Millions	Dec. 31, 2024 USD ($)
Fair Value Disclosures [Abstract]
Cumulative impairment losses and downward price adjustments on equity securities	$ 360
Cumulative upward price adjustments on equity securities	$ 222

Financial Instruments - Short-T

Financial Instruments - Short-Term Borrowings (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Commercial paper, principal amount	[1]	$ 2,453	$ 7,965
Current portion of long-term debt, principal amount		3,750	2,250
Other short-term borrowings, principal amount	[2]	755	252
Total short-term borrowings, principal amount		6,957	10,467
Net fair value adjustments related to hedging and purchase accounting		0	5
Net unamortized discounts, premiums and debt issuance costs		(12)	(121)
Total Short-term borrowings, including current portion of long-term debt, carried at historical proceeds, as adjusted		6,946	$ 10,350
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		15,000
Line of Credit [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		276
Line of credit facility, due to expire within one year		243
Credit Facility, Maturing October 2025 [Member] | Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		8,000
Credit Facility, Maturing October 2029 [Member] | Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 7,000
[1] Issued in the fourth quarter of 2023 as part of the financing for our acquisition of Seagen (see Note 2A ). The weighted-average effective interest rate on commercial paper outstanding was approximately 4.94% as of December 31, 2024 and 5.37% as of December 31, 2023. Primarily includes cash collateral. See Note 7F .

Financial Instruments - Short_2

Financial Instruments - Short-Term Borrowings - Footnotes (Details)	Dec. 31, 2024	Dec. 31, 2023	May 31, 2023
Short-term Debt [Line Items]
Effective interest rate			4.93%
Commercial Paper [Member]
Short-term Debt [Line Items]
Effective interest rate	4.94%	5.37%

Financial Instruments - Long-Te

Financial Instruments - Long-Term Debt (Details) - USD ($) $ in Millions		Dec. 31, 2024		Dec. 31, 2023
Debt Instrument [Line Items]
Net fair value adjustments related to hedging and purchase accounting		$ 0		$ 5
Net unamortized discounts, premiums and debt issuance costs		(12)		(121)
Total long-term debt, carried at historical proceeds, as adjusted		57,405		61,538
Current portion of long-term debt, carried at historical proceeds, as adjusted (not included above (3.9% for 2024 and 2023))		$ 3,747		2,254
Unsecured Debt [Member]
Debt Instrument [Line Items]
Interest rate, percentage		3.90%
Total long-term debt, principal amount	[1]	$ 57,147		60,982
Net fair value adjustments related to hedging and purchase accounting		701	[1]	1,039
Net unamortized discounts, premiums and debt issuance costs	[1]	(444)		(483)
Total long-term debt, carried at historical proceeds, as adjusted	[1]	57,405		61,538
Current portion of long-term debt, carried at historical proceeds, as adjusted (not included above (3.9% for 2024 and 2023))	[1]	3,747		$ 2,254
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2025 [Member]
Debt Instrument [Line Items]
Interest rate, percentage				3.90%
Total long-term debt, principal amount	[1],[2]	$ 0		$ 3,750
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2026 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		3.70%		3.70%
Total long-term debt, principal amount	[1]	$ 6,000		$ 6,000
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2027 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		2.20%		2.10%
Total long-term debt, principal amount	[1]	$ 980		$ 1,029
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2028 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		4.60%		4.60%
Total long-term debt, principal amount	[1]	$ 5,660		$ 5,660
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2029 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		3.50%		3.50%
Total long-term debt, principal amount	[1]	$ 1,750		$ 1,750
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2030 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		3.60%		3.60%
Total long-term debt, principal amount	[1]	$ 5,250		$ 5,250
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2031-2035 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		4.50%		4.50%
Total long-term debt, principal amount	[1]	$ 6,750		$ 6,750
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2036-2040 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		5.40%		5.40%
Total long-term debt, principal amount	[1]	$ 9,534		$ 9,543
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2041-2045 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		4.30%		4.30%
Total long-term debt, principal amount	[1]	$ 6,474		$ 6,501
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2046-2050 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		3.70%		3.70%
Total long-term debt, principal amount	[1]	$ 4,750		$ 4,750
Unsecured Debt [Member] | Senior Unsecured Debt, Due 2051-2063 [Member]
Debt Instrument [Line Items]
Interest rate, percentage		5.30%		5.30%
Total long-term debt, principal amount	[1]	$ 10,000		$ 10,000
[1] Our long-term debt is generally redeemable by us at any time at varying redemption prices plus accrued and unpaid interest. Reclassified to the current portion of long-term debt.

Financial Instruments - Long-_2

Financial Instruments - Long-Term Debt, Issuances (Details) $ in Millions	May 31, 2023 USD ($)
Debt Instrument [Line Items]
Effective interest rate	4.93%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 31,000

Financial Instruments - Derivat

Financial Instruments - Derivative Financial Instruments and Hedging Activities- Narrative (Details)	12 Months Ended
	Dec. 31, 2024
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative term of contract	2 years

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Derivative Financial Instruments and Related Notional Amounts (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative asset		$ 1,516	$ 700
Derivative liability		1,366	1,420
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative asset		1,263	546
Derivative liability		1,144	1,206
Foreign exchange contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, notional amount	[1]	23,991	18,750
Derivative asset	[1]	1,250	403
Derivative liability	[1]	719	916
Foreign exchange contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, notional amount		26,335	25,609
Derivative asset		253	154
Derivative liability		221	214
Interest rate contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, notional amount		6,750	6,750
Derivative asset		13	144
Derivative liability		425	290
Sales [Member] | Foreign exchange contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, notional amount		$ 5,000	$ 4,900
[1] The notional amount of outstanding foreign exchange contracts hedging our intercompany forecasted inventory sales was $5.0 billion as of December 31, 2024 and $4.9 billion as of December 31, 2023.

Financial Instruments - Deriv_2

Financial Instruments - Derivative Financial Instruments and Hedging Activities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gains/(Losses) Recognized in OID	[1]	$ 50	$ 164
Derivative, Amount of Gains/(Losses) Recognized in OCI		499	626	$ 1,444
Amount of Gains/(Losses) Recognized in OCI	[1]	1,166	341
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[2]	159	413	$ 2,062
Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[1]	$ 313	$ 549
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Other income/(deductions)—net	Other income/(deductions)—net
Designated as Hedging Instrument [Member] | Foreign Currency Short-Term Borrowings [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Non-Derivative, Amount of Gains/(Losses) Recognized in OCI	[1],[3]	$ 0	$ 0
Non-Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[1],[3]	0	0
Designated as Hedging Instrument [Member] | Foreign Currency Long-Term Debt [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Non-Derivative, Amount of Gains/(Losses) Recognized in OCI	[1],[3]	49	(29)
Non-Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[1],[3]	0	0
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Amount of Gains/(Losses) Recognized in OID	[1]	50	164
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest rate contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Amount of Gains/(Losses) Recognized in OCI	[1]	0	68
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[1]	0	1
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Amount of Gains/(Losses) Recognized in OCI	[1],[4]	466	380
Derivative, Amount of Gains/(Losses) Recognized in OCI, excluded from effectiveness testing and amortized into earnings	[1],[5]	34	178
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[1],[4]	124	236
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS, excluded from effectiveness testing	[1],[5]	34	177
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest rate contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Amount of Gains/(Losses) on interest rate contract Recognized in OID	[1]	(253)	196
Derivative, Amount of Gains/(Losses) on hedged item Recognized in OID	[1]	253	(196)
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Amount of Gains/(Losses) Recognized in OCI, excluded from effectiveness testing and amortized into earnings	[1],[5]	119	137
Derivative, Amount of Gains/(Losses) Recognized in OCI	[1]	498	(393)
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS, excluded from effectiveness testing	[1],[5]	154	136
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[1]	$ 0	$ 0
[1] OID = Other (income)/deductions—net, included in Other (income)/deductions—net in the consolidated statements of operations . COS = Cost of Sales, included in Cost of sales in the consolidated statements of operations. OCI = Other comprehensive income/(loss), included in the consolidated statements of comprehensive income/(loss) . Reclassified into Other (income)/deductions—net and Cost of sales . See Note 7E . Long-term debt includes foreign currency borrowings which are used in net investment hedges; the related carrying values as of December 31, 2024 and December 31, 2023 were $777 million and $824 million, respectively. The amounts reclassified from OCI into COS were a net gain of $119 million in 2024 and a net gain of $253 million in 2023. The remaining amounts were reclassified from OCI into OID. Based on year-end foreign exchange rates that are subject to change, we expect to reclassify a pre-tax gain of $330 million within the next 12 months into income . The maximum length of time over which we are hedging our exposure to the variability in future foreign exchange cash flows is approximately 18 years and relates to foreign currency debt. The amounts reclassified from OCI were reclassified into OID.

Financial Instruments - Deriv_3

Financial Instruments - Derivative Financial Instruments and Hedging Activities - Footnotes (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS	[1]	$ 159		$ 413	$ 2,062
Foreign Currency Long-Term Debt [Member]
Derivative [Line Items]
Long-term debt, carrying value		777		824
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Pre-tax gain expected to be reclassified within the next 12 months		$ 330
Remaining period of hedging exposure		18 years
Designated as Hedging Instrument [Member] | Cost of Sales [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Amount of Gains/(Losses) Reclassified from OCI into OID and COS		$ 119	[2]	$ 253
[1] Reclassified into Other (income)/deductions—net and Cost of sales . See Note 7E . OID = Other (income)/deductions—net, included in Other (income)/deductions—net in the consolidated statements of operations . COS = Cost of Sales, included in Cost of sales in the consolidated statements of operations. OCI = Other comprehensive income/(loss), included in the consolidated statements of comprehensive income/(loss) .

Financial Instruments - Cumulat

Financial Instruments - Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Hedged Liability, Statement of Financial Position [Extensible Enumeration]		Long-term debt	Long-term debt
Carrying Amount of Hedged Assets/Liabilities	[1]	$ 7,154	$ 7,196
Cumulative Amount of Fair Value Hedging Adjustment Increase/(Decrease) to Carrying Amount, Active Hedging Relationships, Liability		(384)	(131)
Cumulative Amount of Fair Value Hedging Adjustment Increase/(Decrease) to Carrying Amount, Discontinued Hedging Relationships, Liability		$ 891	$ 957
[1] Carrying amounts exclude the cumulative amount of fair value hedging adjustments.

Financial Instruments - Credit

Financial Instruments - Credit Risk (Details) $ in Millions	Dec. 31, 2024 USD ($)
Fair Value Disclosures [Abstract]
Derivatives in a net liability position	$ 741
Collateral posted	720
Derivatives in a net receivable position	594
Cash collateral received	$ 716

Other Financial Information - I

Other Financial Information - Inventories (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Other Financial Information [Abstract]
Finished goods		$ 3,775	$ 3,495
Work-in-process		6,101	5,688
Raw materials and supplies		976	1,007
Inventories	[1]	10,851	10,189
Noncurrent inventories not included above	[2]	$ 2,663	$ 4,568
[1] The increase from December 31, 2023 reflects higher inventory levels for certain products mainly due to changes in net market demand, network strategy and new product launches. Included in Other noncurrent assets . The decrease from December 31, 2023 is primarily driven by a reduction in acquired Seagen inventory, inclusive of the acquisition accounting fair value step up. See Note 2A . Based on our current estimates and assumptions, there are no recoverability issues for these amounts.

Other Financial Information - O

Other Financial Information - Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Other current liabilities	$ 19,720	$ 20,537
BioNTech [Member] | Comirnaty [Member] | Collaborative Arrangement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Other current liabilities	$ 1,300	$ 2,000

Other Financial Information - S

Other Financial Information - Supplier Finance Program Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Trade accounts payable	Trade accounts payable
Supplier Finance Program, Obligation [Roll Forward]
Confirmed obligations outstanding, December 31, 2023	$ 791
Invoices confirmed during the year	2,638
Confirmed invoices paid during the year	(2,740)
Confirmed obligations outstanding, December 31, 2024	$ 688
Minimum [Member]
Supplier Finance Program [Line Items]
Supplier finance program, payment timing, period	90 days
Maximum [Member]
Supplier Finance Program [Line Items]
Supplier finance program, payment timing, period	120 days

Property, Plant and Equipment -

Property, Plant and Equipment - Components of Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment before accumulated depreciation	$ 34,876	$ 34,985
Less: Accumulated depreciation	16,483	16,045
Property, plant and equipment, net	18,393	18,940
Land [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment before accumulated depreciation	291	353
Buildings [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment before accumulated depreciation	9,036	9,046
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment before accumulated depreciation	15,095	14,263
Furniture, fixtures and other [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment before accumulated depreciation	5,516	5,399
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment before accumulated depreciation	$ 4,937	$ 5,925
Minimum [Member] | Buildings [Member]
Property, Plant and Equipment [Line Items]
Useful lives (years)	33 years
Minimum [Member] | Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Useful lives (years)	8 years
Minimum [Member] | Furniture, fixtures and other [Member]
Property, Plant and Equipment [Line Items]
Useful lives (years)	3 years
Maximum [Member] | Buildings [Member]
Property, Plant and Equipment [Line Items]
Useful lives (years)	50 years
Maximum [Member] | Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Useful lives (years)	20 years
Maximum [Member] | Furniture, fixtures and other [Member]
Property, Plant and Equipment [Line Items]
Useful lives (years)	12 years 6 months

Property, Plant and Equipment_3

Property, Plant and Equipment - Long-lived Assets by Geographic Areas, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 18,393	$ 18,940
United States [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	9,748	10,674
Developed Markets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	7,187	6,713
Emerging Markets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 1,458	$ 1,554

Identifiable Intangible Asset_3

Identifiable Intangible Assets, Net and Goodwill - Finite-lived and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount		$ 103,397	$ 102,944
Finite-lived intangible assets, accumulated amortization	[1]	(67,549)	(62,828)
Finite-lived intangible assets, net		35,848	40,116
Indefinite-lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets		19,563	24,784
Intangible assets, gross carrying amount	[1]	122,961	127,728
Identifiable Intangible Assets, Net	[1]	55,411	64,900
Brands [Member]
Indefinite-lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets	[2]	0	827
IPR&D [Member]
Indefinite-lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets	[3]	18,893	23,193
Licensing Agreements and Other [Member]
Indefinite-lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets		670	763
Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	[4]	99,397	99,267
Finite-lived intangible assets, accumulated amortization	[4]	(65,044)	(60,493)
Finite-lived intangible assets, net	[4]	34,353	38,773
Brands [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	[2]	1,277	922
Finite-lived intangible assets, accumulated amortization	[2]	(992)	(877)
Finite-lived intangible assets, net	[2]	285	45
Licensing Agreements and Other [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount		2,724	2,756
Finite-lived intangible assets, accumulated amortization		(1,513)	(1,458)
Finite-lived intangible assets, net		$ 1,210	$ 1,297
[1] The decrease is primarily due to amortization expense of $5.3 billion, impairments of $3.3 billion (see Note 4 ) and measurement period adjustments related to our acquisition of Seagen of $950 million (see Note 2A ). The changes in the gross carrying amounts reflect the transfer of $827 million from indefinite-lived brands to finite-lived brands for Medrol, partially offset by impairments of $475 million in finite-lived brands (see Note 4 ). The decrease in the gross carrying amount reflects impairments of $1.9 billion (see Note 4 ), $1.7 billion of measurement period adjustments related to our acquisition of Seagen (see Note 2A ), and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna). The increase in the gross carrying amount includes $740 million of measurement period adjustments related to our acquisition of Seagen (see Note 2A ) and the transfer of IPR&D to developed technology rights of $727 million for talazoparib (Talzenna), partially offset by impairments of $943 million (see Note 4 ).

Identifiable Intangible Asset_4

Identifiable Intangible Assets, Net and Goodwill - Finite-lived and Indefinite-lived Intangible Assets - Footnotes (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairments		$ 3,295	$ 3,000
Amortization expense for finite-lived intangible assets		5,300
Seagen [Member]
Finite-Lived Intangible Assets [Line Items]
Intangibles, measurement period adjustments		740
In-process research and development, measurement period adjustments		1,700
Identifiable intangible assets, net of adjustments		950
Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairments	[1]	943
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets period increase (decrease)		827
Brand [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairments	[1]	475
IPR&D [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairments	[1]	1,873
talazoparib (Talzenna) [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets period increase (decrease)		727
talazoparib (Talzenna) [Member] | IPR&D [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, period increase (decrease)		(727)
Depo-Medrol [Member] | Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, period increase (decrease)		$ (827)
[1] Reflects intangible assets written down to fair value in 2024. Fair value was determined using the income approach, specifically the multi-period excess earnings method, also known as the discounted cash flow method. We started with a forecast of all the expected net cash flows for the asset and then applied an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows, which includes the expected impact of competitive, legal and/or regulatory forces on the product; and assumptions about the probability of technical and regulatory success (PTRS) of ongoing clinical trials, the discount rate, which seeks to reflect the various risks inherent in the projected cash flows; and the tax rate, which seeks to incorporate the geographic diversity of the projected cash flows.

Identifiable Intangible Asset_5

Identifiable Intangible Assets, Net and Goodwill - Narrative (Details)	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	10 years
Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	10 years

Identifiable Intangible Asset_6

Identifiable Intangible Assets, Net and Goodwill - Expected Annual Amortization Expense (Details) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 4,838
2026	4,716
2027	4,125
2028	3,776
2029	$ 2,829

Identifiable Intangible Asset_7

Identifiable Intangible Assets, Net and Goodwill - Goodwill (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Beginning balance	[1]	$ 67,783	$ 51,375
Additions	[1],[2]	1,022	16,117
Impact of foreign exchange and other	[1]	(278)	292
Ending balance		$ 68,527	$ 67,783	[1]
[1] As a result of the organizational changes to the commercial structure within the Biopharma operating segment effective in the first quarter of 2024 (see Note 17A ), our goodwill was required to be reallocated amongst impacted reporting units. The allocation of goodwill is a complex process that requires, among other things, that we determine the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. We completed the re-allocation during the fourth quarter of 2024 and concluded that none of our goodwill was impaired. All goodwill continues to be assigned within the Biopharma reportable segment. Additions primarily represent our acquisition of Seagen in 2023 and measurement period adjustments related to our acquisition of Seagen in 2024 (see Note 2A ) .

Pension and Postretirement Be_3

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Schedule of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 14	$ 12	$ 29
Interest cost		23	21	27
Expected return on plan assets		(51)	(44)	(47)
Amortization of prior service cost/(credit)		(113)	(119)	(130)
Actuarial (gains)/losses	[1]	144	51	(440)
Curtailments		0	(12)	(18)
Special termination benefits		0	0	1
Net periodic benefit cost/(credit) reported in income		18	(90)	(578)
Cost/(credit) reported in Other comprehensive income/(loss)		(80)	128	169
Cost/(credit) recognized in Comprehensive income		(62)	38	(410)
U.S. [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		0	0	0
Interest cost		553	589	534
Expected return on plan assets		(832)	(778)	(862)
Amortization of prior service cost/(credit)		1	2	2
Actuarial (gains)/losses	[1]	396	(410)	225
Curtailments		0	0	0
Special termination benefits		0	6	18
Net periodic benefit cost/(credit) reported in income		117	(592)	(84)
Cost/(credit) reported in Other comprehensive income/(loss)		(1)	(2)	(2)
Cost/(credit) recognized in Comprehensive income		116	(594)	(86)
International [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		87	85	116
Interest cost		312	287	157
Expected return on plan assets		(322)	(304)	(296)
Amortization of prior service cost/(credit)		4	0	(1)
Actuarial (gains)/losses	[1]	33	102	(11)
Curtailments		(4)	(2)	(11)
Special termination benefits		10	0	1
Net periodic benefit cost/(credit) reported in income		120	169	(45)
Cost/(credit) reported in Other comprehensive income/(loss)		(4)	31	(1)
Cost/(credit) recognized in Comprehensive income		$ 117	$ 199	$ (46)
[1] Reflects: (i) actuarial remeasurement net losses in 2024, primarily due to unfavorable asset performance for the U.S. pension plans and decreases in discount rates for the international pension plans, partially offset by increases in discount rates for the U.S. pension plans and favorable asset performance for the international pension plans and postretirement plans, (ii) actuarial remeasurement net gains in 2023, primarily due to favorable asset performance in the U.S. and increases in discount rates for the international plans, partially offset by unfavorable asset performance for certain international plans, and (iii) actuarial remeasurement net gains in 2022, primarily due to increases in discount rates, partially offset by unfavorable asset performance.

Pension and Postretirement Be_4

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Weighted-Average Actuarial Assumptions (Details)		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Plans [Member]
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate: Pension plans/postretirement plans		5.40%	5.50%	2.90%
Expected return on plan assets		8%	7.50%	6.30%
Weighted-average assumptions used to determine benefit obligations at fiscal year-end:
Discount rate		5.50%	5.40%	5.50%
U.S. [Member] | Pension Plans [Member]
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate: Pension plans/postretirement plans		5.40%	5.40%	2.90%
Expected return on plan assets		8%	7.50%	6.30%
Weighted-average assumptions used to determine benefit obligations at fiscal year-end:
Discount rate		5.70%	5.40%	5.40%
International [Member] | Pension Plans [Member]
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate: Interest cost		4.40%	3.80%	1.50%
Discount rate: Service cost		3.90%	3.60%	1.70%
Expected return on plan assets		5.10%	4.50%	3.10%
Rate of compensation increase	[1]	3.20%	3%	2.80%
Weighted-average assumptions used to determine benefit obligations at fiscal year-end:
Discount rate		4.10%	4.40%	3.80%
Rate of compensation increase	[1]	3.10%	3.20%	3%
[1] The rate of compensation increase is not used to determine the net periodic benefit cost and benefit obligation for the U.S. pension plans as these plans are frozen.

Pension and Postretirement Be_5

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Healthcare Cost Trend Rate Assumptions (Details) - Postretirement Plans [Member]	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Healthcare cost trend rate assumed for next year	7.50%	7.90%
Rate to which the cost trend rate is assumed to decline	4%	4%

Pension and Postretirement Be_6

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Obligations and Funded Status (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amounts recorded in our consolidated balance sheet:
Noncurrent liabilities		$ (2,115)	$ (2,167)
Postretirement Plans [Member]
Change in benefit obligation
Benefit obligation, beginning	[1]	450	410
Service cost		14	12	$ 29
Interest cost		23	21	27
Employee contributions		61	52
Plan amendments		(193)	0
Changes in actuarial assumptions and other	[2]	199	96
Foreign exchange impact		(2)	(1)
Acquisitions/divestitures, net		0
Curtailments and special termination benefits		0	(3)
Settlements		0	0
Benefits paid		(67)	(137)
Benefit obligation, ending	[1]	486	450	410
Change in plan assets
Fair value of plan assets, beginning		636	647
Actual return on plan assets		105	89
Company contributions		0	(15)
Employee contributions		61	52
Foreign exchange impact		0	0
Acquisitions/divestitures, net		0	0
Settlements		0	0
Benefits paid		(67)	(137)
Fair value of plan assets, ending		736	636	647
Funded status		251	186
Amounts recorded in our consolidated balance sheet:
Noncurrent assets		330	266
Current liabilities		(5)	(6)
Noncurrent liabilities		(74)	(74)
Funded status		251	186
Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss:
Prior service (costs)/credits		365	285
U.S. [Member] | Pension Plans [Member]
Change in benefit obligation
Benefit obligation, beginning	[1]	10,756	11,420
Service cost		0	0	0
Interest cost		553	589	534
Employee contributions		0	0
Plan amendments		0	0
Changes in actuarial assumptions and other	[2]	(299)	(127)
Foreign exchange impact		(1)	0
Acquisitions/divestitures, net		0	0
Curtailments and special termination benefits		0	6
Settlements		(756)	(675)
Benefits paid		(473)	(457)
Benefit obligation, ending	[1]	9,781	10,756	11,420
Change in plan assets
Fair value of plan assets, beginning		10,935	10,871
Actual return on plan assets		138	1,061
Company contributions		103	134
Employee contributions		0	0
Foreign exchange impact		0	0
Settlements		(756)	(675)
Benefits paid		(473)	(457)
Fair value of plan assets, ending		9,948	10,935	10,871
Funded status		167	179
Amounts recorded in our consolidated balance sheet:
Noncurrent assets		934	1,010
Current liabilities		(90)	(94)
Noncurrent liabilities		(678)	(738)
Funded status		167	179
Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss:
Prior service (costs)/credits		(2)	(2)
Information related to the funded status of pension plans with an ABO in excess of plan assets(c):
ABO	[3]	768	831
Information related to the funded status of pension plans with a PBO in excess of plan assets(c):
PBO	[3]	768	831
U.S. [Member] | Postretirement Plans [Member]
Change in plan assets
Fair value of plan assets, beginning		636
Fair value of plan assets, ending		736	636
International [Member] | Pension Plans [Member]
Change in benefit obligation
Benefit obligation, beginning	[1]	7,292	7,497
Service cost		87	85	116
Interest cost		312	287	157
Employee contributions		16	11
Plan amendments		0	25
Changes in actuarial assumptions and other	[2]	119	(518)
Foreign exchange impact		(106)	280
Acquisitions/divestitures, net		77	13
Curtailments and special termination benefits		7	0
Settlements		(69)	(56)
Benefits paid		(371)	(334)
Benefit obligation, ending	[1]	7,363	7,292	7,497
Change in plan assets
Fair value of plan assets, beginning		6,552	6,865
Actual return on plan assets		408	(316)
Company contributions		164	154
Employee contributions		16	11
Foreign exchange impact		(65)	214
Acquisitions/divestitures, net		62	13
Settlements		(69)	(56)
Benefits paid		(371)	(334)
Fair value of plan assets, ending		6,696	6,552	$ 6,865
Funded status		(667)	(740)
Amounts recorded in our consolidated balance sheet:
Noncurrent assets		728	644
Current liabilities		(31)	(28)
Noncurrent liabilities		(1,364)	(1,355)
Funded status		(667)	(740)
Pre-tax components of cumulative amounts recognized in Accumulated other comprehensive loss:
Prior service (costs)/credits		(61)	(65)
Information related to the funded status of pension plans with an ABO in excess of plan assets(c):
Fair value of plan assets	[3]	456	579
ABO	[3]	1,752	1,834
Information related to the funded status of pension plans with a PBO in excess of plan assets(c):
Fair value of plan assets	[3]	690	964
PBO	[3]	2,084	2,347
Defined benefit plan, accumulated benefit obligation		$ 7,100	$ 7,000
[1] For the U.S. pension plans, the benefit obligation is both the PBO and ABO as these plans are frozen and future benefit accruals no longer increase with future compensation increases. For the international pension plans, the benefit obligation is the PBO. The ABO for our international pension plans was $7.1 billion in 2024 and $7.0 billion in 2023. For the postretirement plans, the benefit obligation is the ABO. For 2024, primarily includes actuarial losses resulting from decreases in discount rates for the international pension plans, and other assumption changes for the postretirement plans, largely offset by actuarial gains resulting from increases in discount rates for the U.S. pension plans. For 2023, primarily included actuarial gains resulting from increases in discount rates for the international pension plans. Our U.S. qualified plan, U.S. postretirement plan and many of our larger funded international plans were overfunded as of December 31, 2024.

Pension and Postretirement Be_7

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Plan Assets (Details) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 736	$ 636	$ 647
U.S. [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 9,948	10,935	10,871
U.S. [Member] | Pension Plans [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		100%
U.S. [Member] | Pension Plans [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 1,401	1,585
U.S. [Member] | Pension Plans [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		5,518	6,410
U.S. [Member] | Pension Plans [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	1
U.S. [Member] | Pension Plans [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	3,028	2,939
U.S. [Member] | Pension Plans [Member] | Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 533	606
U.S. [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		0%
U.S. [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 56	47
U.S. [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		477	559
U.S. [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
U.S. [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	$ 0	0
U.S. [Member] | Pension Plans [Member] | Equity securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		10%
U.S. [Member] | Pension Plans [Member] | Global equity securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 1,341	1,537
U.S. [Member] | Pension Plans [Member] | Global equity securities [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,341	1,537
U.S. [Member] | Pension Plans [Member] | Global equity securities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
U.S. [Member] | Pension Plans [Member] | Global equity securities [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	1
U.S. [Member] | Pension Plans [Member] | Global equity securities [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	0	0
U.S. [Member] | Pension Plans [Member] | Equity commingled funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		97	100
U.S. [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
U.S. [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		97	100
U.S. [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
U.S. [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	$ 0	0
U.S. [Member] | Pension Plans [Member] | Fixed income securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		45%
U.S. [Member] | Pension Plans [Member] | Corporate debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 2,878	3,668
U.S. [Member] | Pension Plans [Member] | Corporate debt [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		4	1
U.S. [Member] | Pension Plans [Member] | Corporate debt [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		2,874	3,667
U.S. [Member] | Pension Plans [Member] | Corporate debt [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
U.S. [Member] | Pension Plans [Member] | Corporate debt [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	0
U.S. [Member] | Pension Plans [Member] | Government and agency obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	2,059	1,971
U.S. [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	0	0
U.S. [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	2,059	1,971
U.S. [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	0	0
U.S. [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[2]	0	0
U.S. [Member] | Pension Plans [Member] | Fixed income commingled funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		42	25
U.S. [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
U.S. [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		12	14
U.S. [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
U.S. [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	$ 30	11
U.S. [Member] | Pension Plans [Member] | Other investments [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		5%
U.S. [Member] | Pension Plans [Member] | Partnership Interest [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	$ 2,665	2,449
U.S. [Member] | Pension Plans [Member] | Partnership Interest [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	0	0
U.S. [Member] | Pension Plans [Member] | Partnership Interest [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]		0
U.S. [Member] | Pension Plans [Member] | Partnership Interest [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	0	0
U.S. [Member] | Pension Plans [Member] | Partnership Interest [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[3]	2,665	2,449
U.S. [Member] | Pension Plans [Member] | Insurance contracts [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	99
U.S. [Member] | Pension Plans [Member] | Insurance contracts [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
U.S. [Member] | Pension Plans [Member] | Insurance contracts [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	99
U.S. [Member] | Pension Plans [Member] | Insurance contracts [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
U.S. [Member] | Pension Plans [Member] | Insurance contracts [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	0	0
U.S. [Member] | Pension Plans [Member] | Other commingled funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	333	479
U.S. [Member] | Pension Plans [Member] | Other commingled funds [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	0	0
U.S. [Member] | Pension Plans [Member] | Other commingled funds [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	0	0
U.S. [Member] | Pension Plans [Member] | Other commingled funds [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[4]	333	479
U.S. [Member] | Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 736	636
U.S. [Member] | Postretirement Plans [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		100%
U.S. [Member] | Postretirement Plans [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 0	1
U.S. [Member] | Postretirement Plans [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		736	635
U.S. [Member] | Postretirement Plans [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
U.S. [Member] | Postretirement Plans [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]		0
U.S. [Member] | Postretirement Plans [Member] | Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]	$ 12	3
U.S. [Member] | Postretirement Plans [Member] | Cash and cash equivalents [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		0%
U.S. [Member] | Postretirement Plans [Member] | Cash and cash equivalents [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]	$ 0	1
U.S. [Member] | Postretirement Plans [Member] | Cash and cash equivalents [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]	12	2
U.S. [Member] | Postretirement Plans [Member] | Cash and cash equivalents [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]		0
U.S. [Member] | Postretirement Plans [Member] | Cash and cash equivalents [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[5]		0
U.S. [Member] | Postretirement Plans [Member] | Insurance contracts [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]	$ 724	633
U.S. [Member] | Postretirement Plans [Member] | Insurance contracts [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		95%
U.S. [Member] | Postretirement Plans [Member] | Insurance contracts [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]	$ 0
U.S. [Member] | Postretirement Plans [Member] | Insurance contracts [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]	724	633
U.S. [Member] | Postretirement Plans [Member] | Insurance contracts [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]		0
U.S. [Member] | Postretirement Plans [Member] | Insurance contracts [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[5]		0
International [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 6,696	6,552	6,865
International [Member] | Pension Plans [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		100%
International [Member] | Pension Plans [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 174	120
International [Member] | Pension Plans [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3,642	3,295
International [Member] | Pension Plans [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,433	1,340	$ 1,455
International [Member] | Pension Plans [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	1,447	1,796
International [Member] | Pension Plans [Member] | Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 310	268
International [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		0%
International [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 138	120
International [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		172	148
International [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
International [Member] | Pension Plans [Member] | Cash and cash equivalents [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	$ 0	0
International [Member] | Pension Plans [Member] | Equity securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		10%
International [Member] | Pension Plans [Member] | Equity commingled funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 704	633
International [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
International [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		619	587
International [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
International [Member] | Pension Plans [Member] | Equity commingled funds [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	$ 86	46
International [Member] | Pension Plans [Member] | Fixed income securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		45%
International [Member] | Pension Plans [Member] | Corporate debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 638	617
International [Member] | Pension Plans [Member] | Corporate debt [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
International [Member] | Pension Plans [Member] | Corporate debt [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		633	617
International [Member] | Pension Plans [Member] | Corporate debt [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		5	0
International [Member] | Pension Plans [Member] | Corporate debt [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	0	0
International [Member] | Pension Plans [Member] | Government and agency obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	960	848
International [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	1	0
International [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	960	848
International [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	0	0
International [Member] | Pension Plans [Member] | Government and agency obligations [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[2]	0	0
International [Member] | Pension Plans [Member] | Fixed income commingled funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,750	1,852
International [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
International [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,064	872
International [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
International [Member] | Pension Plans [Member] | Fixed income commingled funds [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	$ 686	980
International [Member] | Pension Plans [Member] | Other investments [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage		15%
International [Member] | Pension Plans [Member] | Partnership Interest [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	$ 147	145
International [Member] | Pension Plans [Member] | Partnership Interest [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	0	0
International [Member] | Pension Plans [Member] | Partnership Interest [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	2	2
International [Member] | Pension Plans [Member] | Partnership Interest [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	0	0
International [Member] | Pension Plans [Member] | Partnership Interest [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[3]	145	142
International [Member] | Pension Plans [Member] | Insurance contracts [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,221	1,151
International [Member] | Pension Plans [Member] | Insurance contracts [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	0
International [Member] | Pension Plans [Member] | Insurance contracts [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		45	55
International [Member] | Pension Plans [Member] | Insurance contracts [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,176	1,096
International [Member] | Pension Plans [Member] | Insurance contracts [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	0	0
International [Member] | Pension Plans [Member] | Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	965	1,039
International [Member] | Pension Plans [Member] | Other [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	35	0
International [Member] | Pension Plans [Member] | Other [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	147	167
International [Member] | Pension Plans [Member] | Other [Member] | Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	252	244
International [Member] | Pension Plans [Member] | Other [Member] | Assets Measured at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1],[4]	$ 531	$ 628
[1] Certain investments that are measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The NAV amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefits plan assets. Government and agency obligations are inclusive of repurchase agreements. Mainly includes investments in private equity, private debt and real estate. Mostly includes investments in hedge funds and real estate. Reflects postretirement plan assets, which support our U.S. retiree medical plans.

Pension and Postretirement Be_8

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Long-term Target Asset Allocations Ranges and the Percentage of the Fair Value of Plan Assets (Detail)	Dec. 31, 2024
Minimum [Member] | U.S. [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	100%
Minimum [Member] | U.S. [Member] | Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	100%
Minimum [Member] | U.S. [Member] | Cash and cash equivalents [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	0%
Minimum [Member] | U.S. [Member] | Cash and cash equivalents [Member] | Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	0%
Minimum [Member] | U.S. [Member] | Equity securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	10%
Minimum [Member] | U.S. [Member] | Fixed income securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	45%
Minimum [Member] | U.S. [Member] | Other investments [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	5%
Minimum [Member] | U.S. [Member] | Insurance contracts [Member] | Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	95%
Minimum [Member] | International [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	100%
Minimum [Member] | International [Member] | Cash and cash equivalents [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	0%
Minimum [Member] | International [Member] | Equity securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	10%
Minimum [Member] | International [Member] | Fixed income securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	45%
Minimum [Member] | International [Member] | Other investments [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	15%
Maximum [Member] | U.S. [Member] | Cash and cash equivalents [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	10%
Maximum [Member] | U.S. [Member] | Cash and cash equivalents [Member] | Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	5%
Maximum [Member] | U.S. [Member] | Equity securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	40%
Maximum [Member] | U.S. [Member] | Fixed income securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	80%
Maximum [Member] | U.S. [Member] | Other investments [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	35%
Maximum [Member] | U.S. [Member] | Insurance contracts [Member] | Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	100%
Maximum [Member] | International [Member] | Cash and cash equivalents [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	10%
Maximum [Member] | International [Member] | Equity securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	20%
Maximum [Member] | International [Member] | Fixed income securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	70%
Maximum [Member] | International [Member] | Other investments [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity and debt securities, target allocation percentage	35%

Pension and Postretirement Be_9

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Analysis of Changes in Significant Investments Valued Using Significant Unobservable Inputs (Details) - International [Member] - Pension Plans [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets, beginning	$ 6,552	$ 6,865
Actual return on plan assets:
Exchange rate changes	(65)	214
Fair value of plan assets, ending	6,696	6,552
Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets, beginning	1,340	1,455
Actual return on plan assets:
Assets held, ending	8	(96)
Assets sold during the period	0	(3)
Purchases, sales, and settlements, net	(79)	(155)
Transfer into/(out of) Level 3	168	81
Exchange rate changes	(5)	59
Fair value of plan assets, ending	$ 1,433	$ 1,340

Pension and Postretirement B_10

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Expected Future Cash Flow Information (Details) $ in Millions	Dec. 31, 2024 USD ($)
Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions in 2025	$ 40
Expected benefit payments:
2025	44
2026	47
2027	49
2028	50
2029	50
2030–2034	245
U.S. [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions in 2025	90
Expected benefit payments:
2025	871
2026	858
2027	844
2028	825
2029	815
2030–2034	3,760
International [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions in 2025	144
Expected benefit payments:
2025	384
2026	366
2027	384
2028	385
2029	392
2030–2034	$ 2,067

Pension and Postretirement B_11

Pension and Postretirement Benefit Plans and Defined Contribution Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Defined contribution plan, cost recognized	$ 800	$ 843	$ 770

Equity (Details)

Equity (Details)	3 Months Ended	12 Months Ended
	Apr. 03, 2022 USD ($) shares	Dec. 31, 2024 USD ($) employeeStockOwnershipPlan shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2018 USD ($)
Equity, Class of Treasury Stock [Line Items]
Amount of shares authorized in stock purchase plan, value | $					$ 10,000,000,000
Shares repurchased (in shares) | shares	39,000,000
Shares repurchased, cost | $	$ 2,000,000,000			$ 2,000,000,000
Amount of remaining shares authorized in stock purchase plan, value | $		$ 3,300,000,000
Preferred stock, shares authorized (in shares) | shares		27,000,000	27,000,000
Preferred stock, shares issued (in shares) | shares		0	0
Preferred stock, shares outstanding (in shares) | shares		0	0
Number of employee stock ownership plans | employeeStockOwnershipPlan		1
Common ESOP Plan [Member]
Equity, Class of Treasury Stock [Line Items]
ESOP compensation expense | $		$ 16,000,000	$ 20,000,000	$ 19,000,000

Share-Based Payments - Narrativ

Share-Based Payments - Narrative (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for award		441,000,000
Compensation cost recognized/(reduced), pre-tax		$ 877	$ 525	$ 872
Tax benefit for share-based compensation expense		$ 165	93	160
2019 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized		320,000,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares)		17,073,000
Compensation cost recognized/(reduced), pre-tax		$ 394	437	402
Restricted Stock Units (RSUs) [Member] | 2019 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares counted toward maximum		3
Portfolio Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares)	[1]	13,535,000
Compensation cost recognized/(reduced), pre-tax		$ 252	(138)	144
Portfolio Performance Shares [Member] | 2019 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares counted toward maximum		3
Performance Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares)		2,597,000
Award requisite service period		3 years
Compensation cost recognized/(reduced), pre-tax		$ (21)	(5)	73
Performance Share Awards [Member] | 2019 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares counted toward maximum		3
Breakthrough Performance Awards (BPAs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares)		0
Number of shares outstanding (in shares)		0
Award requisite service period		1 year
Breakthrough Performance Awards (BPAs) [Member] | 2019 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares counted toward maximum		3
Total Shareholder Return Units (TSRUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares)		43,674,000
Number of shares outstanding (in shares)	[2],[3]	167,977,000
Compensation cost recognized/(reduced), pre-tax		$ 246	244	255
Total Shareholder Return Units (TSRUs) [Member] | 2019 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares counted toward maximum		1
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognized/(reduced), pre-tax		$ 4	$ 4	$ 4
Stock Options [Member] | 2019 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares counted toward maximum		1
[1] Vested and non-vested shares outstanding, but not paid as of December 31, 2024 were 33.9 million. In 2024, 1,150,382 TSRUs with a weighted-average grant price of $31.54 per unit were converted into 100,307 PTUs. In 2024, we settled 2,419,674 TSRUs with a weighted-average grant price of $27.76 per unit.

Share-Based Payments - Schedule

Share-Based Payments - Schedule of Share-based Compensation Awards and Valuation Details (Details)	12 Months Ended
	Dec. 31, 2024 tradingDay measure period shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	1,372,000
Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, shares	0
Total Shareholder Return Units (TSRUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Trading day average | tradingDay	20
Award vesting period	3 years
Total Shareholder Return Units (TSRUs) [Member] | Total Shareholder Return Units, Vesting Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award settlement period	5 years
Total Shareholder Return Units (TSRUs) [Member] | Total Shareholder Return Units, Vesting Period Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award settlement period	7 years
Total Shareholder Return Units (TSRUs) [Member] | Certain TSRUs Granted in 2022 and 2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award settlement period	7 years
Award vesting period	5 years
Total Shareholder Return Units (TSRUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term (years)	5 years
Total Shareholder Return Units (TSRUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term (years)	7 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33%
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33%
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	33%
Restricted Stock Units (RSUs) [Member] | Restricted Stock Units Granted Before 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Portfolio Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Portfolio Performance Shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	3 years
Number of shares earned as a percentage of initial award	0%
Portfolio Performance Shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	5 years
Number of shares earned as a percentage of initial award	200%
Performance Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award requisite service period	3 years
Number of measures used to determine share payout | measure	2
Share payout measures, adjusted net income, number of periods | period	3
Share payout measures, adjusted net income, period	1 year
Performance Share Awards [Member] | PSAs Granted in 2022 and 2023 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Performance Share Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares earned as a percentage of initial award	0%
Performance Share Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares earned as a percentage of initial award	200%
Breakthrough Performance Awards (BPAs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	1 year
Breakthrough Performance Awards (BPAs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares earned as a percentage of initial award	0%
Breakthrough Performance Awards (BPAs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares earned as a percentage of initial award	600%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term (years)	10 years
Award vesting period	3 years

Share-Based Payments - Summary

Share-Based Payments - Summary of Data Related to Share-based Payment Arrangement Activity (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognized/(reduced), pre-tax		$ 877	$ 525	$ 872
Total Shareholder Return Units (TSRUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, weighted-average grant-date fair value per share (in dollars per share)	[1]	$ 7.05	$ 10.71	$ 11.72
Total intrinsic value of options exercised or share units converted		$ 29	$ 755	$ 1,131
Compensation cost recognized/(reduced), pre-tax		246	244	255
Total compensation cost related to nonvested awards not yet recognized, pre-tax		$ 270	$ 192	$ 179
Weighted-average period over which cost is expected to be recognized (years)		2 years 1 month 6 days	1 year 8 months 12 days	1 year 8 months 12 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, weighted-average grant-date fair value per share (in dollars per share)		$ 26.97
Total fair value of shares vested	[1]	$ 469	$ 505	$ 345
Compensation cost recognized/(reduced), pre-tax		394	437	402
Total compensation cost related to nonvested awards not yet recognized, pre-tax		$ 214	$ 212	$ 266
Weighted-average period over which cost is expected to be recognized (years)		1 year 9 months 18 days	1 year 9 months 18 days	1 year 8 months 12 days
Portfolio Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares vested	[1]	$ 176	$ 116	$ 145
Total intrinsic value of options exercised or share units converted		123	250	280
Compensation cost recognized/(reduced), pre-tax		252	(138)	144
Total compensation cost related to nonvested awards not yet recognized, pre-tax		$ 107	$ 81	$ 135
Weighted-average period over which cost is expected to be recognized (years)		1 year 10 months 24 days	1 year 9 months 18 days	1 year 8 months 12 days
Performance Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of shares vested	[1]	$ 0	$ 58	$ 57
Compensation cost recognized/(reduced), pre-tax		(21)	(5)	73
Total compensation cost related to nonvested awards not yet recognized, pre-tax		$ 40	$ 22	$ 38
Weighted-average period over which cost is expected to be recognized (years)		1 year 8 months 12 days	1 year 9 months 18 days	1 year 9 months 18 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, weighted-average grant-date fair value per share (in dollars per share)	[1]	$ 4.08	$ 7.88	$ 9.44
Total intrinsic value of options exercised or share units converted		$ 0	$ 102	$ 247
Cash received upon exercise		0	181	260
Tax benefits realized from exercise		0	20	46
Compensation cost recognized/(reduced), pre-tax		4	4	4
Total compensation cost related to nonvested awards not yet recognized, pre-tax		$ 4	$ 4	$ 3
Weighted-average period over which cost is expected to be recognized (years)		1 year 8 months 12 days	1 year 8 months 12 days	1 year 8 months 12 days
[1] Weighted-average GDFV per TSRUs and stock options.

Share-Based Payments - Schedu_2

Share-Based Payments - Schedule of Valuation Assumptions (Detail)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Total Shareholder Return Units (TSRUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	6.06%	3.80%	3.42%
Risk-free interest rate	4.31%	4.08%	1.87%
Expected stock price volatility	26.56%	23.23%	29.20%
Contractual term/expected term	5 years 1 month 24 days	5 years 1 month 24 days	5 years 2 months 1 day
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	6.06%	3.80%	3.42%
Risk-free interest rate	4.32%	4.03%	1.93%
Expected stock price volatility	26.56%	23.23%	29.21%
Contractual term/expected term	6 years 6 months	6 years 6 months	6 years 6 months

Share-Based Payments - Schedu_3

Share-Based Payments - Schedule of Share-based Payment Arrangement Activity (Detail) - $ / shares shares in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Total Shareholder Return Units (TSRUs) [Member]
Number of Shares
Nonvested, beginning of period, shares		77,673
Granted, shares		43,674
Vested, shares		(31,076)
Forfeited, shares		(5,370)
Nonvested, end of period, shares		84,902	77,673
Weighted Avg. GDFV per share
Nonvested, beginning of period, weighted-average grant date fair value per share (in dollars per share)		$ 9.67
Granted, weighted-average grant-date fair value per share (in dollars per share)	[1]	7.05	$ 10.71	$ 11.72
Vested, weighted-average grant-date fair value per share (in dollars per share)		7.42
Forfeited, weighted-average grant date fair value per share (in dollars per share)		8.66
Nonvested, end of period, weighted-average grant date fair value per share (in dollars per share)		9.63	9.67
Grant Price
Nonvested, beginning of period, grant price (in dollars per share)		39.92
Granted, grant price (in dollars per share)		26.90
Vested, grant price (in dollars per share)		33.87
Forfeited, grant price (in dollars per share)		33.90
Nonvested, end of period, grant price (in dollars per share)		$ 35.87	$ 39.92
Restricted Stock Units [Member]
Number of Shares
Nonvested, beginning of period, shares		25,844
Granted, shares		17,073
Vested, shares		(16,874)
Reinvested dividend equivalents, shares		1,541
Forfeited, shares		(2,024)
Nonvested, end of period, shares		25,561	25,844
Weighted Avg. GDFV per share
Nonvested, beginning of period, weighted-average grant date fair value per share (in dollars per share)		$ 40.08
Granted, weighted-average grant-date fair value per share (in dollars per share)		26.97
Vested, weighted-average grant-date fair value per share (in dollars per share)		37.89
Reinvested dividend equivalents, weighted-average grant date fair value per share (in dollars per share)		28.17
Forfeited, weighted-average grant date fair value per share (in dollars per share)		32.20
Nonvested, end of period, weighted-average grant date fair value per share (in dollars per share)		$ 32.67	$ 40.08
Portfolio Performance Shares [Member]
Number of Shares
Nonvested, beginning of period, shares	[2]	22,225
Granted, shares	[2]	13,535
Vested, shares	[2]	(6,329)
Forfeited, shares	[2]	(3,274)
Nonvested, end of period, shares	[2]	26,156	22,225
Weighted Avg. Intrinsic Value per share
Nonvested, beginning of period, weighted-average intrinsic value per share (in dollars per share)	[2]	$ 28.79
Granted, weighted-average intrinsic value per share (in dollars per share)	[2]	26.92
Vested, weighted-average intrinsic value per share (in dollars per share)	[2]	27.76
Forfeited, weighted-average intrinsic value per share (in dollars per share)	[2]	28.03
Nonvested, end of period, weighted-average intrinsic value per share (in dollars per share)	[2]	$ 26.53	$ 28.79
Vested and expected to vest, end of period, shares		33,900
Performance Share Awards [Member]
Number of Shares
Nonvested, beginning of period, shares		4,734
Granted, shares		2,597
Vested, shares		0
Forfeited, shares		(1,810)
Nonvested, end of period, shares		5,521	4,734
Weighted Avg. Intrinsic Value per share
Nonvested, beginning of period, weighted-average intrinsic value per share (in dollars per share)		$ 28.79
Granted, weighted-average intrinsic value per share (in dollars per share)		26.89
Vested, weighted-average intrinsic value per share (in dollars per share)		0
Forfeited, weighted-average intrinsic value per share (in dollars per share)		27.79
Nonvested, end of period, weighted-average intrinsic value per share (in dollars per share)		$ 26.53	$ 28.79
[1] Weighted-average GDFV per TSRUs and stock options. Vested and non-vested shares outstanding, but not paid as of December 31, 2024 were 33.9 million.

Share-Based Payments - Summar_2

Share-Based Payments - Summary of TSRU and PTU Activity (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Total Shareholder Return Units (TSRUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units outstanding, shares	167,977,000	[1],[2]
Units vested, shares	83,075,000	[1],[2]
Units expected to vest, shares	80,014,000	[1],[2],[3]
Units outstanding, weighted average grant price (in dollars per share) | $ / shares	$ 34.17	[1],[2]
Units vested, weighted average grant price (in dollars per share) | $ / shares	32.44	[1],[2]
Units expected to vest, weighted average grant price (in dollars per share) | $ / shares	$ 35.93	[1],[2],[3]
Units outstanding, weighted average remaining contractual term	2 years 6 months	[1],[2]
Units vested, weighted average remaining contractual term	8 months 12 days	[1],[2]
Units expected to vest, weighted average remaining contractual term	4 years 3 months 18 days	[1],[2],[3]
Units outstanding, aggregate intrinsic value | $	$ 122	[1],[2],[4]
Units vested, aggregate intrinsic value | $	86	[1],[2],[4]
Units expected to vest, aggregate intrinsic value | $	$ 34	[1],[2],[3],[4]
Units settled, shares	2,419,674
Units settled, weighted average grant price (in dollars per share) | $ / shares	$ 27.76
Units exercised, shares	1,150,382
Units exercised, weighted average grant price (in dollars per share) | $ / shares	$ 31.54
Profit Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units converted and exercised, shares	586,000	[1],[2]
Units exercised and converted, weighted average remaining contractual term	2 months 12 days	[1],[2]
Units exercised and converted, aggregate intrinsic value | $	$ 16	[1],[2],[4]
Units granted upon conversion, shares	100,307
[1] In 2024, 1,150,382 TSRUs with a weighted-average grant price of $31.54 per unit were converted into 100,307 PTUs. In 2024, we settled 2,419,674 TSRUs with a weighted-average grant price of $27.76 per unit. Market price of our underlying common stock less grant price plus dividend equivalents to date.

Share-Based Payments - Schedu_4

Share-Based Payments - Schedule of Share-based Compensation, Stock Options, Activity (Detail) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Shares (Thousands)
Outstanding, beginning of period, shares | shares	28,452
Granted, shares | shares	1,372
Exercised, shares | shares	(4)
Forfeited, shares | shares	(235)
Expired, shares | shares	(9,964)
Outstanding, end of period, shares | shares	19,621
Vested and expected to vest, end of period, shares | shares	19,510	[1]
Exercisable, end of period, shares | shares	17,447
Weighted-Average Exercise Price Per Share
Outstanding, beginning of period, weighted-average exercise price per share (in dollars per share) | $ / shares	$ 32.66
Granted, weighted-average exercise price per share (in dollars per share) | $ / shares	26.90
Exercised, weighted-average exercise price per share (in dollars per share) | $ / shares	29.06
Forfeited, weighted-average exercise price per share (in dollars per share) | $ / shares	33.52
Expired, weighted-average exercise price per share (in dollars per share) | $ / shares	30.69
Outstanding, end of period, weighted-average exercise price per share (in dollars per share) | $ / shares	33.24
Vested and expected to vest, end of period, weighted-average exercise price per share (in dollars per share) | $ / shares	33.26	[1]
Exercisable, end of period, weighted-average exercise price per share (in dollars per share) | $ / shares	$ 33.12
Outstanding, end of period, weighted-average remaining contractual term	1 year 10 months 24 days
Vested and expected to vest, end of period, weighted-average remaining contractual term	1 year 10 months 24 days	[1]
Exercisable, end of period, weighted-average remaining contractual term	1 year 1 month 6 days
Outstanding, end of period, aggregate intrinsic value | $	$ 0	[2]
Vested and expected to vest, end of period, aggregate intrinsic value | $	0	[1],[2]
Exercisable, end of period, aggregate intrinsic value | $	$ 0	[2]
[1] The number of options expected to vest takes into account an estimate of expected forfeitures. Market price of our underlying common stock less exercise price.

Earnings Per Common Share Att_3

Earnings Per Common Share Attributable to Pfizer Inc. Common Shareholders (Details) - USD ($) shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
EPS Numerator
Income from continuing operations attributable to Pfizer Inc. common shareholders		$ 8,020	$ 2,134	$ 31,366
Discontinued operations––net of tax		11	(15)	6
Net income attributable to Pfizer Inc. common shareholders		8,031	2,119	31,372
EPS Numerator––Diluted
Income from continuing operations attributable to Pfizer Inc. common shareholders and assumed conversions		8,020	2,134	31,366
Discontinued operations––net of tax		11	(15)	6
Net income attributable to Pfizer Inc. common shareholders and assumed conversions		$ 8,031	$ 2,119	$ 31,372
EPS Denominator
Weighted-average common shares outstanding––Basic (in shares)		5,664	5,643	5,608
Common-share equivalents (in shares)		36	66	125
Weighted-average common shares outstanding––Diluted (in shares)		5,700	5,709	5,733
Anti-dilutive common stock equivalents (in shares)	[1]	24	9	1
[1] These common stock equivalents were outstanding for the periods presented, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect.

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Variable lease cost	$ 517	$ 444	$ 536
Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating lease term	1 year
Operating lease term, option to extend	5 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating lease term	30 years
Operating lease term, option to extend	10 years

Leases - Schedule of Lease Asse

Leases - Schedule of Lease Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
ROU assets	$ 2,289	$ 2,924
Lease liabilities (short-term)	356	527
Lease liabilities (long-term)	$ 2,286	$ 2,626
ROU assets, statement of financial position	Other Assets, Noncurrent	Other Assets, Noncurrent
Lease liabilities (short-term), statement of financial position	Other current liabilities	Other current liabilities
Lease liabilities (long-term), statement of financial position	Other noncurrent liabilities	Other noncurrent liabilities

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs and Other Supplemental Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 683	$ 863	$ 714
Variable lease cost	517	444	536
Sublease income	(23)	(24)	(32)
Total lease cost	$ 1,177	$ 1,283	1,218
Weighted-Average Remaining Contractual Lease Term (Years)	10 years 2 months 12 days	10 years 9 months 18 days
Weighted-Average Discount Rate	3.70%	3.80%
Operating cash flows from operating leases	$ 601	$ 744	617
(Gains)/losses on sale and leaseback transactions, net	$ 29	$ (49)	$ 11

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Detail) - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Next one year	[1]	$ 443
1-2 years		406
2-3 years		361
3-4 years		281
4-5 years		239
Thereafter		1,468
Total undiscounted lease payments		3,197
Less: Imputed interest		556
Present value of minimum lease payments		2,642
Less: Current portion		356	$ 527
Noncurrent portion		$ 2,286	$ 2,626
[1]Reflects lease payments due within 12 months subsequent to the balance sheet date.

Contingencies and Certain Com_2

Contingencies and Certain Commitments - Patent Litigation (Details) $ in Millions

1 Months Ended

Jan. 31, 2025 company

Nov. 30, 2024 patent

Oct. 31, 2024 patent

Aug. 31, 2024 patent

Jul. 31, 2024 patent

Apr. 30, 2024 patent

Mar. 31, 2024 patent

Nov. 30, 2023 Patent patent

Aug. 31, 2023 patent

Jun. 30, 2023 patent

May 31, 2023 Patent patent

Apr. 30, 2023 patent

Sep. 30, 2022 patent

Aug. 31, 2022 patent company

Jul. 31, 2022 patent

Dec. 31, 2024 USD ($)

Gain Contingencies [Line Items]

Threshold for disclosure of proceedings under environmental laws | $

$ 1

Loss contingency, patents allegedly infringed and subsequently revoked | Patent

1

Mektovi [Member] | Pfizer Versus Several Generic Manufacturers [Member] | Patent Infringement [Member] | Pending Litigation [Member]

Gain Contingencies [Line Items]

Number of companies in litigation case | company

2

Number of patents allegedly infringed upon

6

Mektovi [Member] | Pfizer Versus Several Generic Manufacturers [Member] | Patent Infringement [Member] | Pending Litigation [Member] | Expiring 2030 [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed upon

2

Mektovi [Member] | Pfizer Versus Several Generic Manufacturers [Member] | Patent Infringement [Member] | Pending Litigation [Member] | Expiring 2033 [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed upon

2

Mektovi [Member] | Pfizer Versus Several Generic Manufacturers [Member] | Patent Infringement [Member] | Settled Litigation [Member] | Subsequent Event [Member]

Gain Contingencies [Line Items]

Settled litigation, number of companies | company

1

Mektovi [Member] | Pfizer Versus Teva Pharmaceuticals, Inc. [Member] | Patent Invalidity And Non Infringement [Member] | Pending Litigation [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed upon

3

Mektovi [Member] | Pfizer Versus Teva Pharmaceuticals, Inc. [Member] | Patent Invalidity And Non Infringement [Member] | Pending Litigation [Member] | Teva Pharmaceuticals, Inc. [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed upon

2

Comirnaty [Member] | Alnylam Patent Infringement Case [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed | Patent

4

Comirnaty [Member] | ModernaTX U.S. Patent Infringement Case [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed

3

Number of patents under review

2

Comirnaty [Member] | ModernaTX European Patent Infringement Case [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed

2

2

Loss contingency, patents ruled invalid and subsequently revoked

1

Comirnaty [Member] | Arbutus and Genevant U.S. Patent Infringement Case [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed

5

Comirnaty [Member] | GlaxoSmithKline Biologics SA and GlaxoSmithKline LLC US Patent Infringement Case [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed

3

5

Comirnaty [Member] | Pfizer, BioNTech and BioNTech Manufacturing GmbH Versus CureVac, Judgment of Non-Infringement [Member]

Gain Contingencies [Line Items]

Number of patents found not infringed

3

Number of patents found infringed

3

Abrysvo [Member] | GlaxoSmithKline Biologics SA and GlaxoSmithKline LLC US Patent Infringement Case [Member]

Gain Contingencies [Line Items]

Number of patents allegedly infringed

7

2

4

Number of patents found not infringed

2

Contingencies and Certain Com_3

Contingencies and Certain Commitments - Legal Proceedings-Government Investigations (Details) $ in Millions	1 Months Ended
	Jan. 31, 2025 USD ($)	Dec. 31, 2020 complaint
Greenstone Antitrust Litigation [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of complaints | complaint		2
Government Inquires Relating to Biohaven [Member] | Settled Litigation [Member] | U.S. and Participating States [Member] | Subsequent Event [Member]
Loss Contingencies [Line Items]
Amounts paid in settlement agreement	$ 59.7
Government Inquires Relating to Biohaven [Member] | Settled Litigation [Member] | California Department of Insurance [Member] | Subsequent Event [Member]
Loss Contingencies [Line Items]
Amounts paid in settlement agreement	$ 3.3

Contingencies and Certain Com_4

Contingencies and Certain Commitments - Certain Commitments and Contingent Consideration for Acquisitions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Long-term purchase commitment, amount	$ 4,100
Fair value of contingent consideration	517	$ 692
Contingent consideration liability, current	39	179
Contingent consideration liability, noncurrent	$ 477	$ 512

Segment, Geographic and Other_3

Segment, Geographic and Other Revenue Information - Narrative (Detail) treatmentCourse in Millions, $ in Millions	2 Months Ended	3 Months Ended		12 Months Ended
	Feb. 29, 2024 treatmentCourse	Sep. 29, 2024 USD ($) treatmentCourse	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($) country	Dec. 31, 2024 USD ($) country segment	Dec. 31, 2024 USD ($) country	Dec. 31, 2024 USD ($) country operatingSegment	Dec. 31, 2023 USD ($) treatmentCourse country	Dec. 31, 2022 country
Segment Reporting Information [Line Items]
Number of operating segments					3		3
Total assets				$ 213,396	$ 213,396	$ 213,396	$ 213,396	$ 226,501
Deferred revenues, current				1,511	1,511	1,511	1,511	2,700
Paxlovid, EUA-Labeled [Member]
Segment Reporting Information [Line Items]
Reversal of revenue								$ 3,500
Estimated government emergency use authorization inventory to be returned to company, number of treatment courses | treatmentCourse								6.5
Favorable adjustment for government emergency use authorization inventory returned to the company during the period			$ 771	771
Government emergency use authorization inventory returned to the company during the period, number of treatment courses | treatmentCourse	5.1
Paxlovid, NDA-Labeled, U.S. Strategic National Stockpile [Member]
Segment Reporting Information [Line Items]
Supply commitment, minimum amount committed, number of treatment courses | treatmentCourse		1
Revenues		$ 442		442
Comirnaty [Member]
Segment Reporting Information [Line Items]
Remaining performance obligation				4,000	4,000	4,000	4,000
Paxlovid [Member]
Segment Reporting Information [Line Items]
Remaining performance obligation				1,000	1,000	1,000	1,000
Government and Government Sponsored [Member] | Paxlovid and Comirnaty [Member]
Segment Reporting Information [Line Items]
Deferred revenues				2,200	2,200	2,200	2,200	$ 5,100
Deferred revenues, current				1,400	1,400	1,400	1,400	2,600
Deferred revenues, noncurrent				785	$ 785	$ 785	$ 785	$ 2,500
Deferred revenue, revenue recognized				$ 2,900
Geographic Concentration Risk [Member] | Revenue [Member] | Outside United States [Member]
Segment Reporting Information [Line Items]
Number of countries with revenue exceeding $500 million | country				11	11	11	11	14	24
Geographic Concentration Risk [Member] | Revenue [Member] | U.S. [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage						10%		10%	10%
Geographic Concentration Risk [Member] | Revenue [Member] | China [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage						4%
Geographic Concentration Risk [Member] | Revenue [Member] | Japan [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage								6%	8%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Largest U.S. Wholesaler Customers [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage						34%		42%

Segment, Geographic and Other_4

Segment, Geographic and Other Revenue Information - Schedule of Segment Reporting Information by Segment (Details) - USD ($) $ in Millions		3 Months Ended			12 Months Ended
		Dec. 31, 2024	Sep. 29, 2024	Mar. 31, 2024	Dec. 31, 2024		Dec. 31, 2023		Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenues:					$ 63,627		$ 59,553		$ 101,175
Earnings	[1],[2],[3]				8,023		1,058		34,729
Depreciation and amortization	[4]				7,013		6,290		5,064
Write-offs	[5]				0		6,199		1,183
Restructuring charges/(credits) and implementation costs and additional depreciation, asset restructuring					2,200		2,200		1,400
Net periodic benefit, actuarial valuation and other pension and postretirement plan, gain (loss)					$ (579)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Immediate Recognition of Actuarial Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]					Other income/(deductions)—net
Charge related to expected sale of facilities			$ 420
Certain legal matters, net	[6]				$ 567		474		230
Net (gains)/losses recognized during the period on equity securities	[7]				(1,008)	[8]	(1,590)	[8]	1,273
Certain asset impairments	[9]				3,295		3,024		421
Selling, informational and administrative expenses [Member]
Segment Reporting Information [Line Items]
Restructuring charges/(credits) and implementation costs and additional depreciation, asset restructuring							290		562
Paxlovid, EUA-Labeled [Member]
Segment Reporting Information [Line Items]
Reversal of revenue							3,500
Favorable adjustment for government emergency use authorization inventory returned to the company during the period				$ 771	771
ViiV [Member]
Segment Reporting Information [Line Items]
Dividend income					272		265		314
Haleon [Member]
Segment Reporting Information [Line Items]
Net gain on sale of equity method investment					825
Gain on sale of equity method investment					945
Equity method, adjusted income		$ 120
Other Business Activities [Member]
Segment Reporting Information [Line Items]
Revenues:	[10]				1,228		1,316		1,349
Earnings	[1],[10]				(7,382)		(4,342)		(5,162)
Depreciation and amortization	[4],[10]				340		323		332
Write-offs							6,200		1,200
Adjustment to cost of sales									1,700
Other Business Activities [Member] | Reclassification, Other
Segment Reporting Information [Line Items]
Earnings							14,700		9,200
Depreciation and amortization							331		294
Other Business Activities [Member] | Paxlovid [Member]
Segment Reporting Information [Line Items]
Charges to cost of sales related to raw materials									500
Reconciling Items [Member] | Amortization of Intangible Assets [Member]
Segment Reporting Information [Line Items]
Earnings	[1]				(5,286)		(4,733)		(3,609)
Depreciation and amortization	[4]				5,286		4,733		3,609
Reconciling Items [Member] | Acquisition-Related Items [Member]
Segment Reporting Information [Line Items]
Earnings	[1]				(1,938)		(1,874)		(832)
Depreciation and amortization	[4]				12		(11)		(20)
Reconciling Items [Member] | Certain Significant Items [Member]
Segment Reporting Information [Line Items]
Earnings	[1],[11]				(5,510)		(3,917)		(3,608)
Depreciation and amortization	[4],[11]				14		32		36
Biopharma [Member]
Segment Reporting Information [Line Items]
Revenues:					62,400		58,237		99,826
Earnings					28,139		15,923		47,939
Biopharma [Member] | Paxlovid, EUA-Labeled [Member]
Segment Reporting Information [Line Items]
Reversal of revenue							3,500
Favorable adjustment for government emergency use authorization inventory returned to the company during the period				$ 771	771
Biopharma [Member] | ViiV [Member]
Segment Reporting Information [Line Items]
Dividend income					272		265		314
Biopharma [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues:	[12]				62,400		58,237		99,826
Earnings	[1],[12]				28,139		15,923		47,939
Depreciation and amortization	[4],[12]				$ 1,360		$ 1,213		$ 1,107
[1] Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss). As described above, in connection with the organizational changes effective in the first quarter of 2024, overhead costs associated with our manufacturing operations and costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations as they operated in 2024 are included in Biopharma’s earnings. We have reclassified $14.7 billion and $9.2 billion of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. 2023 v. 2022 –– The domestic loss in 2023 versus domestic income in 2022 and the decrease in international income in 2023 was primarily attributable to lower revenues, higher intangible asset impairment charges, and increases in Restructuring charges and certain acquisition-related costs , Amortization of intangible assets , and Selling, informational and administrative expenses , partially offset by a decrease in Cost of sales and net gains on equity securities in 2023 versus net losses on equity securities in 2022 . 2024 v. 2023 –– The reduction in the domestic loss in 2024 versus the domestic loss in 2023 is primarily attributable to increased revenues offset by higher restructuring charges and asset impairment charges. The increase in the international income is primarily attributable to lower: Cost of Sales , Restructuring charges and certain acquisition-related costs and asset impairment charges. Certain production facilities are shared. Depreciation is allocated based on estimates of physical production. As described above, in connection with the organizational changes effective in the first quarter of 2024, we have reclassified $331 million and $294 million of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. See Note 17A . 2024 primarily includes certain product liability expenses related to products discontinued and/or divested by Pfizer. 2023 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer and legal obligations related to pre-acquisition matters. 2022 primarily included certain product liability and other legal expenses related to products discontinued and/or divested by Pfizer. (c) 2024 net gains primarily include, among other things, an unrealized gain of $1.0 billion related to our investment in Haleon, which is now carried at fair value (see Note 2C ). 2023 net gains primarily included, among other things, a realized gain of $1.7 billion related to our investment in Telavant Holdings, Inc. and unrealized gains of $297 million related to our investment in Cerevel Therapeutics Holdings, Inc., partially offset by unrealized losses of $292 million related to our investment in BioNTech. 2022 net losses included, among other things, unrealized losses of $986 million related to investments in BioNTech, Allogene Therapeutics, Inc. and Arvinas. Reported in Other (income)/deductions –– net . See Note 4 . The amount for 2024 represents intangible asset impairment charges, and includes $2.9 billion recorded in the fourth quarter associated with our Biopharma segment, due to changes in development plans and updated long-range commercial forecasts, composed of: (i) $1.0 billion for B7H4V (felmetatug vedotin), a Phase 1 IPR&D asset, (ii) $475 million for Medrol, a finite-lived brand, (iii) $435 million for Zavzpret nasal spray developed technology rights, (iv) $400 million and $200 million for Tukysa and disitamab vedotin, respectively, IPR&D assets reflecting emerging competition, as well as (v) other developed technology rights, IPR&D impairments and a finite-lived licensing agreement totaling $436 million which also includes de-prioritization of certain assets. 2024 also includes a $240 million intangible asset impairment charge, associated with our Biopharma segment that represents IPR&D related to a Phase 3 study for the treatment of DMD, which reflects unfavorable clinical trial results. The amount for 2023 primarily represented intangible asset impairment charges of $3.0 billion, of which $2.9 billion was associated with our Biopharma segment ($2.8 billion recorded in the fourth quarter), including: (i) $1.4 billion for etrasimod (Velsipity) IPR&D, based on a change in development plans for additional indications and overall revenue expectations, (ii) $964 million for Prevnar 13 developed technology rights due to updated commercial forecasts mainly reflecting a transition to vaccines with higher serotype coverage, as well as (iii) $486 million for various other IPR&D assets and developed technology rights, due to updated commercial forecasts mainly reflecting competitive pressures and/or prioritization decisions. 2023 also included $128 million associated with Other business activities, related to IPR&D and developed technology rights for acquired software assets and reflected unfavorable pivotal trial results and updated commercial forecasts. 2022 represented intangible asset impairment charges associated with our Biopharma segment of $200 million for an IPR&D asset for the unapproved indication of symptomatic dilated cardiomyopathy due to a mutation of the gene encoding the lamin A/C protein that resulted from the Phase 3 trial reaching futility at a pre-planned interim analysis and $171 million for developed technology rights due to updated commercial forecasts mainly reflecting competitive pressures. 2022 also included intangible asset impairment charges of $50 million associated with PC1, related to finite-lived licensing agreements, and reflected updated contract manufacturing forecasts reflecting changes to market dynamics. Other business activities include revenues and costs associated with PC1 and Pfizer Ignite as well as costs that we do not allocate to our operating segments, per above. Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in 2024 include, among other items: (i) intangible asset impairment charges of $3.3 billion recorded in Other (income)/deductions––net , (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $2.2 billion (primarily recorded in Restructuring charges and certain acquisition-related co sts), (iii) actuarial valuation and other postretirement plan losses of $579 million recorded in Other (income)/deductions––net , (iv) charges for certain legal matters of $567 million recorded in Other (income)/deductions––net, and (v) a charge in Other (income)/deductions––net of $420 million related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program, partially offset by (vi) net gains on equity securities of $1.0 billion and (vii) net gains of $825 million on the partial sales of our investment in Haleon in March and October 2024, which are comprised of (a) total gains on the sales of $945 million less (b) $120 million in the fourth quarter (included in Other business activities) representing our pro-rata share of Haleon’s third quarter 2024 adjusted income recorded on a one quarter lag and implicitly included in the gain on the sale of those shares. Earnings in 2023 included, among other items: (i) intangible asset impairment charges of $3.0 billion recorded in Other (income)/deductions––net and (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $2.2 billion ($290 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related co sts), partially offset by (iii) net gains on equity securities of $1.6 billion recorded in Other (income)/deductions––net . Earnings in 2022 included, among other items: (i) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.4 billion ($562 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs ) and (ii) net losses on equity securities of $1.3 billion recorded in Other (income)/deductions––net . See Notes 3 and 4 Biopharma’s revenues and earnings in 2024 reflect a non-cash favorable product return adjustment of $771 million recorded in the first quarter of 2024 and in 2023 reflected a non-cash revenue reversal of $3.5 billion (see Note 17C ). In 2023, Biopharma earnings included approximately $6.2 billion of inventory write-offs and related charges to Cost of sales mainly due to lower-than-expected demand for our COVID-19 products. In 2022, Biopharma earnings included COVID-19-related charges of approximately $1.7 billion to Cost of sales , composed of (i) inventory write-offs of approximately $1.2 billion related to COVID-19 products that exceeded or were expected to exceed their approved shelf-lives prior to being used and (ii) charges of approximately $0.5 billion, primarily related to excess raw materials for Paxlovid. Biopharma’s earnings also include dividend income from our investment in ViiV of $272 million in 2024, $265 million in 2023 and $314 million in 2022.

Segment, Geographic and Other_5

Segment, Geographic and Other Revenue Information - Schedule of Significant Biopharma Segment Expenses (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenues		$ 63,627	$ 59,553	$ 101,175
Cost of sales	[1],[2]	17,851	24,954	34,344
Selling, informational and administrative expenses	[1]	14,730	14,771	13,677
Research and development expenses	[1]	10,822	10,679	11,428
Acquired in-process research and development expenses		108	194	953
Other (income)/deductions––net		4,388	222	1,062
Income from continuing operations before provision/(benefit) for taxes on income	[3],[4],[5]	8,023	1,058	34,729
Biopharma [Member]
Segment Reporting Information [Line Items]
Total revenues		62,400	58,237	99,826
Cost of sales		14,997	22,666	32,859
Selling, informational and administrative expenses		10,040	10,235	9,207
Research and development expenses		9,532	9,763	10,324
Acquired in-process research and development expenses		108	194	181
Other (income)/deductions––net		(416)	(543)	(685)
Income from continuing operations before provision/(benefit) for taxes on income		28,139	15,923	47,939
Biopharma [Member] | Primary Care [Member]
Segment Reporting Information [Line Items]
Total revenues		30,135	30,799	73,181
Biopharma [Member] | Comirnaty [Member] | Primary Care [Member]
Segment Reporting Information [Line Items]
Total revenues		5,353	11,220	37,809
Biopharma [Member] | Paxlovid [Member] | Primary Care [Member]
Segment Reporting Information [Line Items]
Total revenues	[6]	5,716	1,279	18,933
Biopharma [Member] | Excluding Comirnaty and Paxlovid [Member] | Primary Care [Member]
Segment Reporting Information [Line Items]
Total revenues		$ 51,331	$ 45,738	$ 43,084
[1] Exclusive of amortization of intangible assets. See Note 17A . Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss). As described above, in connection with the organizational changes effective in the first quarter of 2024, overhead costs associated with our manufacturing operations and costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations as they operated in 2024 are included in Biopharma’s earnings. We have reclassified $14.7 billion and $9.2 billion of net costs in 2023 and 2022, respectively, from Other business activities to Biopharma to conform to the current period presentation. 2023 v. 2022 –– The domestic loss in 2023 versus domestic income in 2022 and the decrease in international income in 2023 was primarily attributable to lower revenues, higher intangible asset impairment charges, and increases in Restructuring charges and certain acquisition-related costs , Amortization of intangible assets , and Selling, informational and administrative expenses , partially offset by a decrease in Cost of sales and net gains on equity securities in 2023 versus net losses on equity securities in 2022 . 2024 v. 2023 –– The reduction in the domestic loss in 2024 versus the domestic loss in 2023 is primarily attributable to increased revenues offset by higher restructuring charges and asset impairment charges. The increase in the international income is primarily attributable to lower: Cost of Sales , Restructuring charges and certain acquisition-related costs and asset impairment charges. 2024 includes (i) a $771 million favorable final adjustment recorded in the first quarter to the estimated non-cash revenue reversal of $3.5 billion recorded in the fourth quarter of 2023, reflecting 5.1 million EUA-labeled treatment courses returned by the U.S. government through February 29, 2024 versus the estimated 6.5 million treatment courses that were expected to be returned as of December 31, 2023, and (ii) $442 million of revenue recorded in the third quarter in connection with the creation of the U.S. SNS. 2023 includes a non-cash revenue reversal of $3.5 billion recorded in the fourth quarter, of which a portion was associated with sales recorded in 2022, related to the expected return of an estimated 6.5 million treatment courses of EUA-labeled U.S. government inventory.

Segment, Geographic and Other_6

Segment, Geographic and Other Revenue Information - Revenues by Geographic Area (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues:	$ 63,627	$ 59,553	$ 101,175
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues:	38,691	28,145	43,317
Developed Markets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues:	16,057	20,910	40,534
Emerging Markets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues:	$ 8,879	$ 10,498	$ 17,324

Segment, Geographic and Other_7

Segment, Geographic and Other Revenue Information - Schedules of Concentration of Risk (Details) - Revenue [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
McKesson, Inc. [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	23%	16%	8%
Cencora, Inc. [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	17%	12%	5%
Cardinal Health, Inc. [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	14%	10%	4%
US Government [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	6%	0%	23%

Segment, Geographic and Other_8

Segment, Geographic and Other Revenue Information - Revenues by Product (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from External Customer [Line Items]
Revenues:		$ 63,627	$ 59,553	$ 101,175
Alliance revenues		8,388	7,582	8,537
Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		62,400	58,237	99,826
Biopharma [Member] | U.S. Commercial Division
Revenue from External Customer [Line Items]
Revenues:		26,765	19,299	34,337
Biopharma [Member] | Oncology Division
Revenue from External Customer [Line Items]
Revenues:		11,567	8,450	8,583
Biopharma [Member] | International Commercial Division
Revenue from External Customer [Line Items]
Revenues:		24,068	30,488	56,905
Pfizer CentreOne [Member]
Revenue from External Customer [Line Items]
Revenues:	[1]	1,146	1,272	1,342
Pfizer Ignite [Member]
Revenue from External Customer [Line Items]
Revenues:		82	44	7
Total Alliance revenues [Member]
Revenue from External Customer [Line Items]
Alliance revenues		8,388	7,582	8,537
Royalty [Member]
Revenue from External Customer [Line Items]
Revenues	[2]	1,423	1,058	845
Primary Care [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		30,135	30,799	73,181
Primary Care [Member] | Eliquis [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[3]	7,366	6,747	6,480
Primary Care [Member] | Prevnar Family [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		6,411	6,501	6,342
Primary Care [Member] | Paxlovid [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[4]	5,716	1,279	18,933
Primary Care [Member] | Comirnaty [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		5,353	11,220	37,809
Primary Care [Member] | Nurtec ODT/Vydura [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		1,263	928	213
Primary Care [Member] | Abrysvo [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		755	890	0
Primary Care [Member] | Premarin Family [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		380	397	455
Primary Care [Member] | BMP2 [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		352	338	277
Primary Care [Member] | FSME-IMMUN/TicoVac [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		280	268	200
Primary Care [Member] | All other Primary Care [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		2,259	2,233	2,473
Specialty Care [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		16,652	14,988	13,851
Specialty Care [Member] | Vyndaqel Family [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		5,451	3,321	2,447
Specialty Care [Member] | Xeljanz [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		1,168	1,703	1,796
Specialty Care [Member] | Enbrel (Outside the U.S. and Canada) [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		690	830	1,003
Specialty Care [Member] | Sulperazon [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		637	757	786
Specialty Care [Member] | Zavicefta [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		586	511	412
Specialty Care [Member] | Octagam [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[5]	509	245	186
Specialty Care [Member] | Inflectra [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		509	490	532
Specialty Care [Member] | Zithromax [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		480	406	331
Specialty Care [Member] | Genotropin [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		470	539	360
Specialty Care [Member] | BeneFIX [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		381	424	425
Specialty Care [Member] | Cibinqo [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		215	128	27
Specialty Care [Member] | Oxbryta [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[6]	201	328	73
Specialty Care [Member] | All other Hospital [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[7]	4,448	4,514	4,730
Specialty Care [Member] | All other Specialty Care [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		907	792	743
Oncology [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		15,612	12,450	12,794
Oncology [Member] | Ibrance [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		4,367	4,753	5,120
Oncology [Member] | Xtandi [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[8]	2,039	1,659	1,650
Oncology [Member] | Padcev [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		1,588	53	0
Oncology [Member] | Adcetris [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		1,089	56	0
Oncology [Member] | Oncology Biosimilars [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[9]	1,037	1,407	1,753
Oncology [Member] | Inlyta [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		978	1,036	1,003
Oncology [Member] | Lorbrena [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		731	539	343
Oncology [Member] | Bosulif [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		645	645	575
Oncology [Member] | Braftovi/Mektovi [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:	[10]	607	477	456
Oncology [Member] | Tukysa [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		480	18	0
Oncology [Member] | Elrexfio [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		133	10	0
Oncology [Member] | Tivdak [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		131	4	0
Oncology [Member] | Talzenna [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		117	64	48
Oncology [Member] | All other Oncology [Member] | Biopharma [Member]
Revenue from External Customer [Line Items]
Revenues:		$ 1,670	$ 1,729	$ 1,846
[1] PC1 includes revenues from our contract manufacturing and our active pharmaceutical ingredient sales operation, as well as revenues related to our manufacturing and supply agreements with legacy Pfizer businesses/partnerships. See Note 1A . Reflects Alliance revenues and product revenues. 2024 includes (i) a $771 million favorable final adjustment recorded in the first quarter to the estimated non-cash revenue reversal of $3.5 billion recorded in the fourth quarter of 2023, reflecting 5.1 million EUA-labeled treatment courses returned by the U.S. government through February 29, 2024 versus the estimated 6.5 million treatment courses that were expected to be returned as of December 31, 2023, and (ii) $442 million of revenue recorded in the third quarter in connection with the creation of the U.S. SNS. 2023 includes a non-cash revenue reversal of $3.5 billion recorded in the fourth quarter, of which a portion was associated with sales recorded in 2022, related to the expected return of an estimated 6.5 million treatment courses of EUA-labeled U.S. government inventory. 2024 includes $129 million related to a one-time sales true-up settlement agreement with our commercialization partner. In September 2024, we announced our voluntary withdrawal of all lots of Oxbryta for the treatment of sickle cell disease in all markets where it is approved, as well as the discontinuation of expanded access programs worldwide, based on the totality of clinical data that indicated at that time the overall benefit of Oxbryta no longer outweighs the risk in the approved sickle cell patient population. The data suggest an imbalance in vaso-occlusive crises and fatal events, which requires further assessment that remains ongoing. Includes, among other Hospital products, amounts previously presented as All other Anti-infectives and Ig Portfolio. Primarily reflects Alliance revenues and royalty revenues. Biosimilars are highly similar versions of approved and authorized biological medicines. Oncology biosimilars primarily include Retacrit, Ruxience, Zirabev, Trazimera and Nivestym. (h) Erbitux is a registered trademark of ImClone LLC.

Segment, Geographic and Other_9

Segment, Geographic and Other Revenue Information - Revenues by Product - Footnotes (Details) treatmentCourse in Millions, $ in Millions		2 Months Ended	3 Months Ended		12 Months Ended
		Feb. 29, 2024 treatmentCourse	Sep. 29, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) treatmentCourse	Dec. 31, 2022 USD ($)
Revenue from External Customer [Line Items]
Total revenues					$ 63,627	$ 59,553	$ 101,175
Paxlovid, EUA-Labeled [Member]
Revenue from External Customer [Line Items]
Reversal of revenue						$ 3,500
Estimated government emergency use authorization inventory to be returned to company, number of treatment courses | treatmentCourse						6.5
Favorable adjustment for government emergency use authorization inventory returned to the company during the period				$ 771	771
Government emergency use authorization inventory returned to the company during the period, number of treatment courses | treatmentCourse		5.1
Paxlovid, NDA-Labeled, U.S. Strategic National Stockpile [Member]
Revenue from External Customer [Line Items]
Revenues			$ 442		442
Biopharma [Member]
Revenue from External Customer [Line Items]
Total revenues					62,400	$ 58,237	99,826
Biopharma [Member] | Specialty Care [Member]
Revenue from External Customer [Line Items]
Total revenues					16,652	14,988	13,851
Biopharma [Member] | Paxlovid, EUA-Labeled [Member]
Revenue from External Customer [Line Items]
Reversal of revenue						3,500
Favorable adjustment for government emergency use authorization inventory returned to the company during the period				$ 771	771
Biopharma [Member] | Octagam [Member] | Specialty Care [Member]
Revenue from External Customer [Line Items]
Total revenues	[1]				509	$ 245	$ 186
Biopharma [Member] | Octagam [Member] | Specialty Care [Member] | Commercialization Partner
Revenue from External Customer [Line Items]
Total revenues					$ 129
[1] 2024 includes $129 million related to a one-time sales true-up settlement agreement with our commercialization partner.