$ZTS
Zoetis Inc.

2013 Q4 Form 10-Q Financial Statement

#000155528013000114 Filed on November 13, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $1.254B $1.103B $1.094B
YoY Change 6.63% 0.82% 1.86%
Cost Of Revenue $464.0M $385.0M $359.0M
YoY Change 7.41% 7.24% -20.93%
Gross Profit $790.0M $718.0M $735.0M
YoY Change 6.18% -2.31% 18.55%
Gross Profit Margin 63.0% 65.1% 67.18%
Selling, General & Admin $458.0M $399.0M $335.0M
YoY Change 2.92% 19.1% -6.42%
% of Gross Profit 57.97% 55.57% 45.58%
Research & Development $121.0M $93.00M $94.00M
YoY Change 0.0% -1.06% -6.93%
% of Gross Profit 15.32% 12.95% 12.79%
Depreciation & Amortization $58.00M $49.00M $54.00M
YoY Change 31.82% -9.26% 8.0%
% of Gross Profit 7.34% 6.82% 7.35%
Operating Expenses $590.0M $492.0M $429.0M
YoY Change 0.51% 14.69% -10.81%
Operating Profit $200.0M $226.0M $306.0M
YoY Change 27.39% -26.14% 120.14%
Interest Expense -$38.00M $29.00M $7.000M
YoY Change 375.0% 314.29% -177.78%
% of Operating Profit -19.0% 12.83% 2.29%
Other Income/Expense, Net $6.000M $11.00M
YoY Change -45.45%
Pretax Income $126.0M $185.0M $252.0M
YoY Change 70.27% -26.59% 142.31%
Income Tax $22.00M $54.00M $79.00M
% Of Pretax Income 17.46% 29.19% 31.35%
Net Earnings $105.0M $131.0M $162.0M
YoY Change -1150.0% -19.14% 145.45%
Net Earnings / Revenue 8.37% 11.88% 14.81%
Basic Earnings Per Share $0.21 $0.26 $0.32
Diluted Earnings Per Share $0.21 $0.26 $0.35
COMMON SHARES
Basic Shares Outstanding 500.0M shares 500.0M shares 500.0M shares
Diluted Shares Outstanding 500.4M shares 500.0M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $610.0M $389.0M $106.0M
YoY Change 92.43% 266.98%
Cash & Equivalents $610.0M $389.0M $133.0M
Short-Term Investments
Other Short-Term Assets $219.0M $228.0M $310.0M
YoY Change 8.96% -26.45%
Inventory $1.293B $1.290B $1.172B
Prepaid Expenses
Receivables $1.138B $1.110B $889.0M
Other Receivables $65.00M $0.00 $0.00
Total Short-Term Assets $3.357B $3.083B $2.477B
YoY Change 17.21% 24.47%
LONG-TERM ASSETS
Property, Plant & Equipment $1.295B $1.252B $1.199B
YoY Change 4.35% 4.42%
Goodwill $982.0M $980.0M
YoY Change -0.3%
Intangibles $803.0M $815.0M
YoY Change -7.49%
Long-Term Investments
YoY Change
Other Assets $58.00M $59.00M $256.0M
YoY Change -34.09% -76.95%
Total Long-Term Assets $3.201B $3.176B $3.323B
YoY Change -5.8% -4.42%
TOTAL ASSETS
Total Short-Term Assets $3.357B $3.083B $2.477B
Total Long-Term Assets $3.201B $3.176B $3.323B
Total Assets $6.558B $6.259B $5.800B
YoY Change 4.73% 7.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $506.0M $482.0M $222.0M
YoY Change 58.62% 117.12%
Accrued Expenses $570.0M $184.0M $103.0M
YoY Change 193.81% 78.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.00M $10.00M
YoY Change -79.45%
Total Short-Term Liabilities $1.415B $1.308B $741.0M
YoY Change 26.0% 76.52%
LONG-TERM LIABILITIES
Long-Term Debt $3.642B $3.642B $573.0M
YoY Change 535.6%
Other Long-Term Liabilities $168.0M $133.0M $232.0M
YoY Change 57.01% -42.67%
Total Long-Term Liabilities $3.810B $3.775B $805.0M
YoY Change 3460.75% 368.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.415B $1.308B $741.0M
Total Long-Term Liabilities $3.810B $3.775B $805.0M
Total Liabilities $5.596B $5.393B $1.885B
YoY Change 151.96% 186.1%
SHAREHOLDERS EQUITY
Retained Earnings $276.0M $207.0M
YoY Change
Common Stock $5.000M $5.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $940.0M $843.0M $3.915B
YoY Change
Total Liabilities & Shareholders Equity $6.558B $6.259B $5.800B
YoY Change 4.73% 7.91%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $105.0M $131.0M $162.0M
YoY Change -1150.0% -19.14% 145.45%
Depreciation, Depletion And Amortization $58.00M $49.00M $54.00M
YoY Change 31.82% -9.26% 8.0%
Cash From Operating Activities $298.0M $114.0M $74.00M
YoY Change -3.87% 54.05% -46.76%
INVESTING ACTIVITIES
Capital Expenditures -$49.00M -$55.00M -$24.00M
YoY Change 8.89% 129.17% 4.35%
Acquisitions
YoY Change
Other Investing Activities -$2.000M $1.000M -$2.000M
YoY Change 100.0% -150.0% 100.0%
Cash From Investing Activities -$51.00M -$54.00M -$26.00M
YoY Change 10.87% 107.69% 8.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.00M -32.00M -53.00M
YoY Change -64.1% -39.62% -47.52%
NET CHANGE
Cash From Operating Activities 298.0M 114.0M 74.00M
Cash From Investing Activities -51.00M -54.00M -26.00M
Cash From Financing Activities -28.00M -32.00M -53.00M
Net Change In Cash 219.0M 28.00M -5.000M
YoY Change 17.74% -660.0% -135.71%
FREE CASH FLOW
Cash From Operating Activities $298.0M $114.0M $74.00M
Capital Expenditures -$49.00M -$55.00M -$24.00M
Free Cash Flow $347.0M $169.0M $98.00M
YoY Change -2.25% 72.45% -39.51%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Zoetis Inc. (collectively, Zoetis, the company, we, us or our) is a global leader in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. We organize and operate our business in </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">four</font><font style="font-family:inherit;font-size:9pt;"> geographic regions: the United States (U.S.); Europe/Africa/Middle East (EuAfME); Canada/Latin America (CLAR); and Asia/Pacific (APAC). </font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">We market our products in more than </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">120</font><font style="font-family:inherit;font-size:9pt;"> countries, including developed markets and emerging markets. Our revenue is mostly generated in the U.S. and EuAfME. We have a diversified business, marketing products across </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">eight</font><font style="font-family:inherit;font-size:9pt;"> core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals); and within </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">five</font><font style="font-family:inherit;font-size:9pt;"> major product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.</font></div></div>
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StockholdersEquityNetTransfersBetweenRelatedPartyAndNoncontrollingInterests
0 USD
zts Stockholders Equity Net Transfers To Related Party
StockholdersEquityNetTransfersToRelatedParty
-271000000 USD
zts Stockholders Equity Net Transfers To Related Party
StockholdersEquityNetTransfersToRelatedParty
76000000 USD
CY2013Q3 zts Unrecognized Tax Benefits Interest Related To Unrecognized Tax Benefits
UnrecognizedTaxBenefitsInterestRelatedToUnrecognizedTaxBenefits
10000000 USD
CY2012Q4 zts Unrecognized Tax Benefits Interest Related To Unrecognized Tax Benefits
UnrecognizedTaxBenefitsInterestRelatedToUnrecognizedTaxBenefits
17000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-29
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001555280
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
500006833 shares
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Zoetis Inc.
dei Trading Symbol
TradingSymbol
ZTS

Files In Submission

Name View Source Status
0001555280-13-000114-index-headers.html Edgar Link pending
0001555280-13-000114-index.html Edgar Link pending
0001555280-13-000114.txt Edgar Link pending
0001555280-13-000114-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
zoetis-2013929x10q3q.htm Edgar Link pending
zoetis-2013929xex12.htm Edgar Link pending
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zoetis-2013929xex322.htm Edgar Link pending
zts-20130929.xml Edgar Link completed
zts-20130929.xsd Edgar Link pending
zts-20130929_cal.xml Edgar Link unprocessable
zts-20130929_def.xml Edgar Link unprocessable
zts-20130929_lab.xml Edgar Link unprocessable
zts-20130929_pre.xml Edgar Link unprocessable