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Consolidated Statement of Income

Pfizer Inc and Subsidiary Companies   Year ended December 31     (millions, except per share data)   1997   1996   1995  Net sales  $ 12,188  $ 11,306  $ 10,021  Alliance revenue   316   —   —   Total revenues   12,504   11,306   10,021  Costs and expenses             Cost of sales   2,274   2,176   2,164  Selling, informational and administrative expenses   4,956   4,366   3,855  Research and development expenses   1,928   1,684   1,442  Other deductions — net   258   276   261  Income from continuing operations before provision for      taxes on income and minority interests   3,088   2,804   2,299  Provision for taxes on income   865   869   738  Minority interests   10   6   7  Income from continuing operations   2,213   1,929   1,554  Discontinued operations — net of taxes on income   —   —   19  Net income  $ 2,213  $ 1,929  $ 1,573  Earnings per common share—basic             Income from continuing operations  $ 1.76  $ 1.55  $ 1.26  Discontinued operations — net of taxes on income   —   —   .02  Net income  $ 1.76  $ 1.55  $ 1.28  Earnings per common share—diluted             Income from continuing operations  $ 1.70  $ 1.50  $ 1.23  Discontinued operations — net of taxes on income   —   —   .02  Net income  $ 1.70  $ 1.50  $ 1.25  Weighted average shares—basic   1,257   1,248   1,229  Weighted average shares—diluted   1,303   1,288   1,259  See Notes to Consolidated Financial Statements which are an integral part of these statements.

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