2019 Actual | 2019 Guidance(2) | 2020 Guidance(3) |
---|---|---|
$51.8 | $51.2 to $52.2 | $48.5 to $50.5 |
2019 Actual | 2019 Guidance(2) | 2020 Guidance(3) |
---|---|---|
19.4% | 19.3% to 19.8% | 19.9% to 20.9% |
2019 Actual | 2019 Guidance(2) | 2020 Guidance(3) |
---|---|---|
$14.0 | $13.5 to $14.0 | $12.0 to $13.0 |
2019 Actual | 2019 Guidance(2) | 2020 Guidance(3) |
---|---|---|
$8.0 | $7.7 to $8.1 | $8.1 to $8.5 |
2019 Actual | 2019 Guidance(2) | 2020 Guidance(3) |
---|---|---|
$300 million of income | Approximately $200 million of income | Approximately $800 million of income |
2019 Actual | 2019 Guidance(2) | 2020 Guidance(3) |
---|---|---|
15.0% | Approximately 16.0% | Approximately 15.0% |
2019 Actual | 2019 Guidance(2) | 2020 Guidance(3) |
---|---|---|
$2.95 | $2.94 to $3.00 | $2.82 to $2.92 |
Footnotes
1. |
Please refer to our 2019 Annual Report on Form 10-K, including the sections captioned Risk Factors and Forward- Looking Information and Factors That May Affect Future Results, for a description of the substantial risks and uncertainties related to the forward-looking statements, including our 2020 Financial Guidance, included in this Annual Review. |
2. |
Our 2019 financial guidance reflected the following:
|
3. |
The 2020 financial guidance for Total Company (i) is as of January 28, 2020, (ii) is not being updated or reaffirmed in connection with this Annual Review, and (iii) reflects the following:
|
4. |
Adjusted income and its components and Adjusted diluted EPS are defined as reported U.S. GAAP net income(5) and its components and reported diluted EPS(5) excluding purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items (some of which may recur, such as gains on the completion of joint venture transactions, restructuring charges, legal charges or net gains and losses on investments in equity securities, but which management does not believe are reflective of ongoing core operations). Adjusted cost of sales, Adjusted selling, informational and administrative (SI&A) expenses, Adjusted research and development (R&D) expenses and Adjusted other (income)/deductions are income statement line items prepared on the same basis as, and therefore components of, the overall Adjusted income measure. As described in the Financial Review––Non-GAAP Financial Measure (Adjusted Income) section of our 2019 Financial Report, which was filed as Exhibit 13 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, management uses Adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. Because Adjusted income is an important internal measurement for Pfizer, management believes that investors’ understanding of our performance is enhanced by disclosing this performance measure. Pfizer reports Adjusted income, certain components of Adjusted income, and Adjusted diluted EPS in order to portray the results of the company’s major operations––the discovery, development, manufacture, marketing and sale of prescription medicines and vaccines––prior to considering certain income statement elements. Reconciliations of certain U.S. GAAP Reported to Non-GAAP Adjusted information for 2019 are provided in the Financial Review section of our 2019 Financial Report, which was filed as Exhibit 13 to our Annual Report on Form 10-K for the year ended December 31, 2019. The Adjusted income and its components and Adjusted diluted EPS measures are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are Non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, are limited in their usefulness to investors. Because of their non-standardized definitions, Non-GAAP Adjusted income and its components (unlike U.S.GAAP net income and its components) and Non-GAAP Adjusted diluted EPS (unlike U.S. GAAP diluted EPS) may not be comparable to the calculation of similar measures of other companies. Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance. |
5. |
Reported net income is defined as net income attributable to Pfizer Inc., in accordance with U.S. GAAP and reported diluted EPS is defined as reported diluted EPS attributable to Pfizer Inc. common shareholders in accordance with U.S. GAAP. |