the “Analysis of Financial Condition, Liquidity and Capital Resources: Selected Measures of Liquidity and Capital Resources” section of this Financial Review and Notes to Consolidated Financial Statements—Note 7. Financial Instruments.

For information about certain balances in Accounts receivable, less allowance for doubtful accounts, see also the “Analysis of Financial Condition, Liquidity and Capital Resources: Selected Measures of Liquidity and Capital Resources: Accounts Receivable” section of this Financial Review.

For information about our tax accounts, including Current deferred tax assets and other current tax assets, Noncurrent deferred tax assets and other noncurrent tax assets, Noncurrent deferred tax liabilities and Other taxes payable, including the impact of the adoption of a new accounting standard, see Notes to Consolidated Financial Statements—Note 5. Tax Matters.

For a description of changes in Total Equity, see the consolidated statements of equity.

Virtually all of the changes in our asset and liability accounts as of December 31, 2013, compared to December 31, 2012, reflect, among other

things, decreases due to changes in foreign currency exchange rates. The following explanations exclude the impact of foreign exchange.

• For Accounts receivable, less allowance for doubtful accounts, the change also reflects the timing of collections in the normal course of business as well as reductions in revenues of certain products.

• For Inventories, the change also reflects increases in pharmaceutical and consumer inventory in the normal course of business.

• For Assets of discontinued operations and other assets held for sale and Liabilities of discontinued operations, the change also reflects the impact of the full disposition of our Animal Health business (Zoetis). For additional information, see Notes to Consolidated Financial Statements—Note 2B. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Divestitures.

• For Long-term investments, the change also reflects an increase associated with the transfer of certain product rights to our equity- method investment in China. For additional information, see Notes to Consolidated Financial Statements—Note 2D. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Equity-Method Investments.

• For Property, plant and equipment, less accumulated depreciation, the change also reflects depreciation partially offset by capital additions. In addition, there were some minor asset impairments and disposals.

• For Goodwill, the change also reflects goodwill derecognized as part of the transfer of certain product rights, which constituted a business, to our equity-method investment in China. For additional information, see Notes to Consolidated Financial Statements—Note 2D. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Equity-Method Investments and Note 10A. Goodwill and Other Intangible Assets: Goodwill.

• For Identifiable intangible assets, less accumulated amortization, the change also reflects amortization, asset impairment charges and the transfer of certain product rights