Pfizer 2011 Annual Review | Pfizer: the world's largest research-based pharmaceutical company
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Millions (except per common share data) 2011(a) 2010 2009(a) 11/10 10/09
Revenues $ 67,425 $ 67,057 $ 49,269 1 36
Research and development expenses $ 9,112 $ 9,392 $ 7,824 (3) 20
Acquisition-related in-process research and development charges $ 125 $ 68 (100) 84
Restructuring charges and certain acquisition-related costs $ 2,934 $ 3,201 $ 4,330 (8) (26)
Income from continuing operations $ 8,739 $ 8,211 $ 8,529 6 (4)
Net income attributable to Pfizer Inc. $ 10,009 $ 8,257 $ 8,635 21 (4)
Diluted earnings per common share attributable to Pfizer Inc. shareholders $ 1.27 $ 1.02 $ 1.23 25 (17)
Weighted-average shares—diluted 7,870 8,074 7,045 (3) 15
Number of common shares outstanding 7,575 8,012 8,051 (5)
Working capital $ 29,659 $ 32,377 $ 24,929 (8) 30
Goodwill & other identifiable
intangible assets, net
$ 98,900 $ 101,483 $ 110,372 (3) (8)
Total assets $ 188,002 $ 195,014 $ 212,949 (4) (8)
Total debt(b) $ 38,949 $ 44,013 $ 48,637 (12) (10)
Total Pfizer Inc. shareholders' equity $ 82,190 $ 87,813 $ 90,014 (6) (2)
Shareholders' equity per common share $ 10.85 $ 10.96 $ 11.19 (1) (2)
Net cash provided by operating activities $ 20,240 $ 11,454 $ 16,587 77 (31)
Property, plant and equipment additions $ 1,660 $ 1,513 $ 1,205 10 26
Purchases of common stock $ 9,000 $ 1,000 * 100
Cash dividends paid $ 6,234 $ 6,088 $ 5,548 2 10

(a) For 2011, includes King Pharmaceuticals Inc. commencing on the acquisition date of January 31, 2011. For 2009, includes Wyeth commencing on the acquisition date of October 15, 2009.

(b) Our short-term borrowings are rated P-1 by Moody's Investors Service (Moody's) and A1+ by Standard & Poor's (S&P). Our long-term debt is rated A1 by Moody's and AA by S&P. Moody's and S&P are major corporate debt-rating organizations.

* Calculation not meaningful.

Detailed information on our financial and operational performance can be found in the 2011 Financial Report.