$ZTS
Zoetis Inc.

2016 Q4 Form 10-Q Financial Statement

#000155528017000209 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2016 Q4
Revenue $1.277B
YoY Change 0.24%
Cost Of Revenue $410.0M
YoY Change -16.5%
Gross Profit $867.0M
YoY Change 10.73%
Gross Profit Margin 67.89%
Selling, General & Admin $345.0M
YoY Change -18.82%
% of Gross Profit 39.79%
Research & Development $90.00M
YoY Change -17.43%
% of Gross Profit 10.38%
Depreciation & Amortization $60.00M
YoY Change 9.09%
% of Gross Profit 6.92%
Operating Expenses $435.0M
YoY Change -20.33%
Operating Profit $432.0M
YoY Change 82.28%
Interest Expense $41.00M
YoY Change -133.61%
% of Operating Profit 9.49%
Other Income/Expense, Net $3.000M
YoY Change
Pretax Income $231.0M
YoY Change 234.78%
Income Tax $77.00M
% Of Pretax Income 33.33%
Net Earnings $154.0M
YoY Change 600.0%
Net Earnings / Revenue 12.06%
Basic Earnings Per Share $0.31
Diluted Earnings Per Share $0.31
COMMON SHARES
Basic Shares Outstanding 495.2M shares
Diluted Shares Outstanding 497.9M shares

Balance Sheet

Concept 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $651.0M
YoY Change -43.59%
Cash & Equivalents $727.0M
Short-Term Investments
Other Short-Term Assets $248.0M
YoY Change 23.38%
Inventory $1.502B
Prepaid Expenses
Receivables $913.0M
Other Receivables $49.00M
Total Short-Term Assets $3.390B
YoY Change -11.49%
LONG-TERM ASSETS
Property, Plant & Equipment $1.381B
YoY Change 5.66%
Goodwill $1.481B
YoY Change 1.79%
Intangibles $1.228B
YoY Change 3.19%
Long-Term Investments
YoY Change
Other Assets $73.00M
YoY Change 48.98%
Total Long-Term Assets $4.259B
YoY Change 4.31%
TOTAL ASSETS
Total Short-Term Assets $3.390B
Total Long-Term Assets $4.259B
Total Assets $7.649B
YoY Change -3.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $265.0M
YoY Change -9.56%
Accrued Expenses $464.0M
YoY Change -31.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.117B
YoY Change -37.28%
LONG-TERM LIABILITIES
Long-Term Debt $4.468B
YoY Change 0.11%
Other Long-Term Liabilities $248.0M
YoY Change -1.2%
Total Long-Term Liabilities $4.716B
YoY Change 0.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.117B
Total Long-Term Liabilities $4.716B
Total Liabilities $6.150B
YoY Change -9.85%
SHAREHOLDERS EQUITY
Retained Earnings $1.477B
YoY Change 68.61%
Common Stock $5.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $421.0M
YoY Change 107.39%
Treasury Stock Shares 9.000M shares
Shareholders Equity $1.487B
YoY Change
Total Liabilities & Shareholders Equity $7.649B
YoY Change -3.34%

Cashflow Statement

Concept 2016 Q4
OPERATING ACTIVITIES
Net Income $154.0M
YoY Change 600.0%
Depreciation, Depletion And Amortization $60.00M
YoY Change 9.09%
Cash From Operating Activities $239.0M
YoY Change -14.03%
INVESTING ACTIVITIES
Capital Expenditures -$57.00M
YoY Change -138.51%
Acquisitions
YoY Change
Other Investing Activities -$67.00M
YoY Change -92.43%
Cash From Investing Activities -$124.0M
YoY Change -83.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -124.0M
YoY Change -112.09%
NET CHANGE
Cash From Operating Activities 239.0M
Cash From Investing Activities -124.0M
Cash From Financing Activities -124.0M
Net Change In Cash -9.000M
YoY Change -101.59%
FREE CASH FLOW
Cash From Operating Activities $239.0M
Capital Expenditures -$57.00M
Free Cash Flow $296.0M
YoY Change 127.69%

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us-gaap Increase Decrease In Accrued Taxes Payable
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58000000 USD
us-gaap Increase Decrease In Accrued Taxes Payable
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us-gaap Interest Costs Capitalized
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CY2016Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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CY2017Q4 us-gaap Line Of Credit
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CY2017Q4 us-gaap Long Term Debt Current
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750000000 USD
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4500000000 USD
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750000000 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments To Acquire Property Plant And Equipment
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CY2016Q4 us-gaap Preferred Stock Shares Authorized
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CY2017Q4 us-gaap Preferred Stock Value Outstanding
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us-gaap Proceeds And Excess Tax Benefit From Sharebased Compensation
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2016Q4 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2017Q4 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2016Q4 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2017Q4 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2017Q4 us-gaap Restructuring Reserve
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2140000000 USD
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us-gaap Royalty Revenue
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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P6Y6M
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us-gaap Stock Repurchased During Period Shares
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us-gaap Stock Repurchased During Period Shares
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CY2017Q4 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Taxes Payable Current
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CY2016Q4 us-gaap Treasury Stock Shares
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CY2016Q4 us-gaap Treasury Stock Shares
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CY2016Q4 us-gaap Treasury Stock Shares
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CY2016Q4 us-gaap Treasury Stock Shares
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CY2017Q4 us-gaap Treasury Stock Shares
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375000000 USD
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10000000 USD
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CY2016Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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2700000 shares
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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3300000 shares
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2016Q4 zts Amortization Of Intangible Assets Not Associated With Single Function
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zts Amortization Of Intangible Assets Not Associated With Single Function
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CY2017Q4 zts Amortization Of Intangible Assets Not Associated With Single Function
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23000000 USD
zts Amortization Of Intangible Assets Not Associated With Single Function
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68000000 USD
zts Contributed Capital Associatedwith Pension To Be Contributedby Related Party
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2000000 USD
CY2016Q4 zts Cost Reduction Initiatives And Acquisition Costs
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11000000 USD
zts Cost Reduction Initiatives And Acquisition Costs
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CY2017Q4 zts Cost Reduction Initiatives And Acquisition Costs
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7000000 USD
zts Cost Reduction Initiatives And Acquisition Costs
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11000000 USD
CY2016Q4 zts Liabilities Heldforsale Not Partof Disposal Group Current
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CY2017Q4 zts Liabilities Heldforsale Not Partof Disposal Group Current
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6000000 USD
CY2017Q4 zts Line Of Credit Facility Covenant Compliance Minimum Interest Coverage Ratio
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2000000 USD
zts Non Cash Transfersto Related Party
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2000000 USD
CY2017Q4 zts Number Of Core Animal Species Marketed
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CY2017Q4 zts Number Of International Manufacturing Sites Sold
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3 site
CY2017Q4 zts Number Of Major Product Categories
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5 category
CY2015Q2 zts Number Of Major Product Categories
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5000 product
CY2017Q4 zts Number Of Us Manufacturing Sites Sold
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3 site
zts Numberof Manufacturing Site To Be Exited
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10 site
CY2017Q4 zts Numberof Regional Segments
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CY2016Q4 zts Operational Efficiency Consulting Charges
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4000000 USD
zts Operational Efficiency Consulting Charges
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11000000 USD
CY2017Q4 zts Operational Efficiency Consulting Charges
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0 USD
zts Operational Efficiency Consulting Charges
OperationalEfficiencyConsultingCharges
1000000 USD
zts Restructuring And Other Related Costs Net Of Payments
RestructuringAndOtherRelatedCostsNetOfPayments
-15000000 USD
zts Restructuring And Other Related Costs Net Of Payments
RestructuringAndOtherRelatedCostsNetOfPayments
7000000 USD
CY2016Q4 zts Restructuring Charges And Acquisition Related Costs
RestructuringChargesAndAcquisitionRelatedCosts
4000000 USD
zts Restructuring Charges And Acquisition Related Costs
RestructuringChargesAndAcquisitionRelatedCosts
-15000000 USD
CY2017Q4 zts Restructuring Charges And Acquisition Related Costs
RestructuringChargesAndAcquisitionRelatedCosts
8000000 USD
zts Restructuring Charges And Acquisition Related Costs
RestructuringChargesAndAcquisitionRelatedCosts
7000000 USD
zts Restructuring Reserve Utilization And Other
RestructuringReserveUtilizationAndOther
48000000 USD
zts Thefairvalueofournoncontrollinginterestina Vie
ThefairvalueofournoncontrollinginterestinaVIE
18000000 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;">October&#160;1, 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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