The following table provides selected income statement information by reportable segment: | ||||||||||||||||||||||||||||||||||||
Revenues | Earnings(a) | Depreciation and Amortization(b) | ||||||||||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||
(MILLIONS OF DOLLARS) | 2013 | 2012 | 2011(c) | 2013 | 2012 | 2011(c) | 2013 | 2012 | 2011(c) | |||||||||||||||||||||||||||
Reportable Segments: | ||||||||||||||||||||||||||||||||||||
Primary Care(d) | $ | 13,272 | $ | 15,558 | $ | 22,670 | $ | 7,981 | $ | 9,613 | $ | 15,001 | $ | 155 | $ | 244 | $ | 249 | ||||||||||||||||||
Specialty Care and Oncology | 14,934 | 15,461 | 16,568 | 10,350 | 10,499 | 10,789 | 351 | 403 | 427 | |||||||||||||||||||||||||||
Established Products and Emerging Markets(e) | 19,672 | 20,195 | 18,509 | 11,159 | 11,217 | 9,417 | 390 | 408 | 430 | |||||||||||||||||||||||||||
Total reportable segments | 47,878 | 51,214 | 57,747 | 29,490 | 31,329 | 35,207 | 896 | 1,055 | 1,106 | |||||||||||||||||||||||||||
Consumer Healthcare and other business activities(f) | 3,574 | 3,443 | 3,288 | (2,005 | ) | (2,397 | ) | (2,608 | ) | 166 | 190 | 223 | ||||||||||||||||||||||||
Reconciling Items: | ||||||||||||||||||||||||||||||||||||
Corporate | — | — | — | (5,800 | ) | (6,112 | ) | (7,317 | ) | 382 | 485 | 540 | ||||||||||||||||||||||||
Purchase accounting adjustments(g) | — | — | — | (4,344 | ) | (4,905 | ) | (6,672 | ) | 4,487 | 4,988 | 5,476 | ||||||||||||||||||||||||
Acquisition-related costs(h) | — | — | — | (376 | ) | (946 | ) | (1,913 | ) | 124 | 273 | 614 | ||||||||||||||||||||||||
Certain significant items(i) | 132 | — | — | (692 | ) | (5,039 | ) | (4,255 | ) | 167 | 300 | 614 | ||||||||||||||||||||||||
Other unallocated(j) | — | — | — | (557 | ) | (688 | ) | (961 | ) | 84 | 103 | 128 | ||||||||||||||||||||||||
$ | 51,584 | $ | 54,657 | $ | 61,035 | $ | 15,716 | $ | 11,242 | $ | 11,481 | $ | 6,306 | $ | 7,394 | $ | 8,701 |
(a) | Income from continuing operations before provision for taxes on income. |
(b) | Certain production facilities are shared. Depreciation is allocated based on estimates of physical production. Amounts here relate solely to the depreciation and amortization associated with continuing operations. |
(c) | For 2011, includes King commencing on the acquisition date of January 31, 2011. |
(d) | Revenues and Earnings from the Primary Care segment decreased for 2013 as compared to the prior year, and Earnings as a percentage of revenues for 2013 also declined, primarily due to the loss of exclusivity of Lipitor in developed Europe and Australia; the subsequent shift in the reporting of Lipitor in those major markets to the Established Products business unit; the losses of exclusivity of certain other products in various markets; lower Alliance revenues from Spiriva due to the ongoing expiration of the Spiriva collaboration in certain countries; and the termination of the co-promotion agreement for Aricept in Japan in December 2012. Revenues and Earnings from the Primary Care segment decreased for 2012 as compared to 2011, and Earnings as a percentage of revenues also declined, primarily due to the loss of exclusivity of Lipitor in most major markets, and the subsequent shift in the reporting of Lipitor in those major markets to the Established Products business unit. |
(e) | Revenues and Earnings from the Established Products and Emerging Markets segment decreased in 2013 as compared to the prior year, primarily due to the continued erosion of branded Lipitor in the U.S. and Japan, partially offset by the addition of products in certain markets that shifted to the Established Products unit from other business units beginning January 1, 2013 and strong volume growth in China. Revenues and Earnings from the Established Products and Emerging Markets segment increased in 2012 as compared to 2011, primarily due to additional products losing exclusivity and moving to the Established Products unit and increased operational sales in emerging markets, partially offset by unfavorable foreign exchange. Earnings as a percentage of revenue in 2012 increased due to the change in the mix of products. |
(f) | Other business activities includes the revenues and operating results of Pfizer CentreSource, our contract manufacturing and bulk pharmaceutical chemical sales operation, and the R&D costs managed by our Worldwide Research and Development organization and our Pfizer Medical organization. |
(g) | Purchase accounting adjustments include certain charges related to the fair value adjustments to inventory, intangible assets and property, plant and equipment. |
(h) | Acquisition-related costs can include costs associated with acquiring, integrating and restructuring newly acquired businesses, such as transaction costs, integration costs, restructuring charges and additional depreciation associated with asset restructuring. For additional information, see Note 3. Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives. |
(i) | Certain significant items are substantive, unusual items 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. |
(j) | Includes overhead expenses associated with our manufacturing and commercial operations not directly attributable to an operating segment |