$ZTS
Zoetis Inc.

2017 Q3 Form 10-Q Financial Statement

#000155528017000175 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $1.269B $1.208B
YoY Change 5.05% -0.49%
Cost Of Revenue $440.0M $399.0M
YoY Change 10.28% -5.23%
Gross Profit $829.0M $809.0M
YoY Change 2.47% 2.02%
Gross Profit Margin 65.33% 66.97%
Selling, General & Admin $336.0M $343.0M
YoY Change -2.04% -8.29%
% of Gross Profit 40.53% 42.4%
Research & Development $86.00M $88.00M
YoY Change -2.27% -3.3%
% of Gross Profit 10.37% 10.88%
Depreciation & Amortization $59.00M $60.00M
YoY Change -1.67% 30.43%
% of Gross Profit 7.12% 7.42%
Operating Expenses $422.0M $431.0M
YoY Change -2.09% -7.31%
Operating Profit $407.0M $378.0M
YoY Change 7.67% 15.24%
Interest Expense $41.00M $41.00M
YoY Change 0.0% 41.38%
% of Operating Profit 10.07% 10.85%
Other Income/Expense, Net $2.000M -$4.000M
YoY Change -150.0% -300.0%
Pretax Income $345.0M $332.0M
YoY Change 3.92% 21.61%
Income Tax $98.00M $108.0M
% Of Pretax Income 28.41% 32.53%
Net Earnings $247.0M $224.0M
YoY Change 10.27% 18.52%
Net Earnings / Revenue 19.46% 18.54%
Basic Earnings Per Share $0.50 $0.45
Diluted Earnings Per Share $0.50 $0.45
COMMON SHARES
Basic Shares Outstanding 490.8M shares 496.3M shares
Diluted Shares Outstanding 494.0M shares 498.8M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $705.0M $658.0M
YoY Change 7.14% 11.15%
Cash & Equivalents $705.0M $658.0M
Short-Term Investments
Other Short-Term Assets $353.0M $257.0M
YoY Change 37.35% -2.65%
Inventory $1.498B $1.525B
Prepaid Expenses
Receivables $975.0M $888.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.584B $3.328B
YoY Change 7.69% -3.54%
LONG-TERM ASSETS
Property, Plant & Equipment $1.355B $1.341B
YoY Change 1.04% 3.71%
Goodwill $1.495B $1.475B
YoY Change 1.36% 26.83%
Intangibles $1.210B $1.217B
YoY Change -0.58% 79.23%
Long-Term Investments
YoY Change
Other Assets $65.00M $66.00M
YoY Change -1.52% 53.49%
Total Long-Term Assets $4.218B $4.190B
YoY Change 0.67% 29.48%
TOTAL ASSETS
Total Short-Term Assets $3.584B $3.328B
Total Long-Term Assets $4.218B $4.190B
Total Assets $7.802B $7.518B
YoY Change 3.78% 12.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $199.0M $224.0M
YoY Change -11.16% -26.8%
Accrued Expenses $569.0M $676.0M
YoY Change -15.83% -15.08%
Deferred Revenue
YoY Change
Short-Term Debt $100.0M $0.00
YoY Change
Long-Term Debt Due $750.0M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.784B $1.039B
YoY Change 71.7% -37.33%
LONG-TERM LIABILITIES
Long-Term Debt $3.719B $4.465B
YoY Change -16.71% 38.41%
Other Long-Term Liabilities $209.0M $236.0M
YoY Change -11.44% -8.53%
Total Long-Term Liabilities $3.928B $4.701B
YoY Change -16.44% 34.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.784B $1.039B
Total Long-Term Liabilities $3.928B $4.701B
Total Liabilities $6.056B $6.147B
YoY Change -1.48% 13.16%
SHAREHOLDERS EQUITY
Retained Earnings $1.843B $1.190B
YoY Change 54.87% 26.19%
Common Stock $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $615.0M $294.0M
YoY Change 109.18% 96.0%
Treasury Stock Shares 12.23M shares 6.500M shares
Shareholders Equity $1.715B $1.357B
YoY Change
Total Liabilities & Shareholders Equity $7.802B $7.518B
YoY Change 3.78% 12.44%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $247.0M $224.0M
YoY Change 10.27% 18.52%
Depreciation, Depletion And Amortization $59.00M $60.00M
YoY Change -1.67% 30.43%
Cash From Operating Activities $180.0M $137.0M
YoY Change 31.39% -32.84%
INVESTING ACTIVITIES
Capital Expenditures -$51.00M -$54.00M
YoY Change -5.56% 3.85%
Acquisitions
YoY Change
Other Investing Activities $11.00M $5.000M
YoY Change 120.0% -162.5%
Cash From Investing Activities -$40.00M -$49.00M
YoY Change -18.37% -18.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -64.00M -108.0M
YoY Change -40.74% 25.58%
NET CHANGE
Cash From Operating Activities 180.0M 137.0M
Cash From Investing Activities -40.00M -49.00M
Cash From Financing Activities -64.00M -108.0M
Net Change In Cash 76.00M -20.00M
YoY Change -480.0% -134.48%
FREE CASH FLOW
Cash From Operating Activities $180.0M $137.0M
Capital Expenditures -$51.00M -$54.00M
Free Cash Flow $231.0M $191.0M
YoY Change 20.94% -25.39%

Facts In Submission

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zts Cost Reduction Initiatives And Acquisition Costs
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4000000 USD
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RestructuringChargesAndAcquisitionRelatedCosts
0 USD
zts Restructuring Charges And Acquisition Related Costs
RestructuringChargesAndAcquisitionRelatedCosts
-1000000 USD
zts Restructuring Reserve Utilization And Other
RestructuringReserveUtilizationAndOther
37000000 USD
zts Thefairvalueofournoncontrollinginterestina Vie
ThefairvalueofournoncontrollinginterestinaVIE
18000000 USD
CY2017Q3 zts Excess Tax Benefits
ExcessTaxBenefits
2000000 USD
CY2017Q3 zts Liabilities Heldforsale Not Partof Disposal Group Current
LiabilitiesHeldforsaleNotPartofDisposalGroupCurrent
4000000 USD
CY2017Q3 zts Line Of Credit Facility Covenant Compliance Minimum Interest Coverage Ratio
LineOfCreditFacilityCovenantComplianceMinimumInterestCoverageRatio
3.50
zts Non Cash Transfersto Related Party
NonCashTransferstoRelatedParty
1000000 USD
zts Non Cash Transfersto Related Party
NonCashTransferstoRelatedParty
1000000 USD
CY2017Q3 zts Number Of Core Animal Species Marketed
NumberOfCoreAnimalSpeciesMarketed
8 species
CY2017Q3 zts Number Of International Manufacturing Sites Sold
NumberOfInternationalManufacturingSitesSold
3 site
CY2017Q3 zts Number Of Major Product Categories
NumberOfMajorProductCategories
5 category
CY2015Q2 zts Number Of Major Product Categories
NumberOfMajorProductCategories
5000 product
CY2017Q3 zts Number Of Us Manufacturing Sites Sold
NumberOfUSManufacturingSitesSold
3 site
zts Numberof Manufacturing Site To Be Exited
NumberofManufacturingSiteToBeExited
10 site
CY2017Q3 zts Numberof Regional Segments
NumberofRegionalSegments
2 region
CY2016Q3 zts Operational Efficiency Consulting Charges
OperationalEfficiencyConsultingCharges
4000000 USD
zts Operational Efficiency Consulting Charges
OperationalEfficiencyConsultingCharges
7000000 USD
CY2017Q3 zts Operational Efficiency Consulting Charges
OperationalEfficiencyConsultingCharges
1000000 USD
zts Operational Efficiency Consulting Charges
OperationalEfficiencyConsultingCharges
1000000 USD
zts Restructuring And Other Related Costs Net Of Payments
RestructuringAndOtherRelatedCostsNetOfPayments
-19000000 USD
zts Restructuring And Other Related Costs Net Of Payments
RestructuringAndOtherRelatedCostsNetOfPayments
-1000000 USD
CY2016Q3 zts Restructuring Charges And Acquisition Related Costs
RestructuringChargesAndAcquisitionRelatedCosts
-21000000 USD
zts Restructuring Charges And Acquisition Related Costs
RestructuringChargesAndAcquisitionRelatedCosts
-19000000 USD
us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;text-decoration:underline;">Guarantees and Indemnifications </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;">In the ordinary course of business and in connection with the sale of assets and businesses, we indemnify our counterparties against certain liabilities that may arise in connection with the transaction or related to activities prior to the transaction. These indemnifications typically pertain to environmental, tax, employee and/or product-related matters and patent-infringement claims. If the indemnified party were to make a successful claim pursuant to the terms of the indemnification, we would be required to reimburse the loss. These indemnifications are generally subject to threshold amounts, specified claim periods and other restrictions and limitations. Historically, we have not paid significant amounts under these provisions and, as of </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">July&#160;2, 2017</font><font style="font-family:inherit;font-size:9pt;">, recorded amounts for the estimated fair value of these indemnifications were not significant.</font></div></div>
us-gaap Nature Of Operations
NatureOfOperations
<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. (including its subsidiaries, 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;">two</font><font style="font-family:inherit;font-size:9pt;"> geographic regions: the United States (U.S.) and International. </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 directly market our products in approximately </font><font style="font-family:inherit;font-size:9pt;">45</font><font style="font-family:inherit;font-size:9pt;"> countries across North America, Europe, Africa, Asia, Australia and South America. Our products are sold in more than </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">100</font><font style="font-family:inherit;font-size:9pt;"> countries, including developed markets and emerging markets. 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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0001555280-17-000175-index-headers.html Edgar Link pending
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