$ZTS
Zoetis Inc.

2019 Q2 Form 10-Q Financial Statement

#000155528019000221 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $1.547B $1.415B $1.366B
YoY Change 9.33% 14.95%
Cost Of Revenue $465.0M $447.0M $447.0M
YoY Change 4.03% 0.9%
Gross Profit $1.082B $968.0M $919.0M
YoY Change 11.78% 22.84%
Gross Profit Margin 69.94% 68.41% 67.28%
Selling, General & Admin $406.0M $359.0M $338.0M
YoY Change 13.09% 16.18%
% of Gross Profit 37.52% 37.09% 36.78%
Research & Development $111.0M $102.0M $97.00M
YoY Change 8.82% 13.33%
% of Gross Profit 10.26% 10.54% 10.55%
Depreciation & Amortization $98.00M $63.00M $60.00M
YoY Change 55.56% 1.61%
% of Gross Profit 9.06% 6.51% 6.53%
Operating Expenses $517.0M $461.0M $435.0M
YoY Change 12.15% 15.54%
Operating Profit $565.0M $507.0M $484.0M
YoY Change 11.44% 30.33%
Interest Expense $55.00M $46.00M $47.00M
YoY Change 19.57% 12.2%
% of Operating Profit 9.73% 9.07% 9.71%
Other Income/Expense, Net $6.000M $4.000M $5.000M
YoY Change 50.0% -60.0%
Pretax Income $455.0M $437.0M $417.0M
YoY Change 4.12% 29.67%
Income Tax $84.00M $55.00M $67.00M
% Of Pretax Income 18.46% 12.59% 16.07%
Net Earnings $371.0M $384.0M $352.0M
YoY Change -3.39% 61.34%
Net Earnings / Revenue 23.98% 27.14% 25.77%
Basic Earnings Per Share $0.77 $0.79 $0.72
Diluted Earnings Per Share $0.77 $0.79 $0.72
COMMON SHARES
Basic Shares Outstanding 478.8M shares 483.8M shares 485.9M shares
Diluted Shares Outstanding 482.3M shares 487.5M shares 489.8M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.776B $1.558B $1.654B
YoY Change 13.99% 147.69%
Cash & Equivalents $1.755B $1.558B $1.654B
Short-Term Investments $25.00M
Other Short-Term Assets $306.0M $288.0M $229.0M
YoY Change 6.25% 8.68%
Inventory $1.404B $1.420B $1.441B
Prepaid Expenses
Receivables $994.0M $973.0M $943.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.484B $4.239B $4.267B
YoY Change 5.78% 25.3%
LONG-TERM ASSETS
Property, Plant & Equipment $1.739B $1.470B $1.453B
YoY Change 18.3% 7.46%
Goodwill $2.505B $1.514B $1.532B
YoY Change 65.46% 1.14%
Intangibles $1.916B $1.225B $1.280B
YoY Change 56.41% -0.57%
Long-Term Investments
YoY Change
Other Assets $87.00M $75.00M $78.00M
YoY Change 16.0% 4.17%
Total Long-Term Assets $6.502B $4.364B $4.423B
YoY Change 48.99% 2.3%
TOTAL ASSETS
Total Short-Term Assets $4.484B $4.239B $4.267B
Total Long-Term Assets $6.502B $4.364B $4.423B
Total Assets $10.99B $8.603B $8.690B
YoY Change 27.7% 12.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $290.0M $230.0M $217.0M
YoY Change 26.09% -0.43%
Accrued Expenses $657.0M $594.0M $601.0M
YoY Change 10.61% 4.95%
Deferred Revenue $4.000M $2.000M $2.000M
YoY Change 100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $1.075B $967.0M $1.000B
YoY Change 11.17% -44.1%
LONG-TERM LIABILITIES
Long-Term Debt $6.446B $4.955B $4.954B
YoY Change 30.09% 33.27%
Other Long-Term Liabilities $188.0M $204.0M $211.0M
YoY Change -7.84% -5.12%
Total Long-Term Liabilities $6.634B $5.159B $5.165B
YoY Change 28.59% 31.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.075B $967.0M $1.000B
Total Long-Term Liabilities $6.634B $5.159B $5.165B
Total Liabilities $8.575B $6.621B $6.715B
YoY Change 29.51% 10.09%
SHAREHOLDERS EQUITY
Retained Earnings $3.788B $2.722B $2.399B
YoY Change 39.16% 64.87%
Common Stock $5.000M $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.732B $1.215B $1.005B
YoY Change 42.55% 138.24%
Treasury Stock Shares 24.10M shares 19.60M shares 17.17M shares
Shareholders Equity $2.411B $1.970B $1.960B
YoY Change
Total Liabilities & Shareholders Equity $10.99B $8.603B $8.690B
YoY Change 27.7% 12.47%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $371.0M $384.0M $352.0M
YoY Change -3.39% 61.34%
Depreciation, Depletion And Amortization $98.00M $63.00M $60.00M
YoY Change 55.56% 1.61%
Cash From Operating Activities $318.0M $267.0M $389.0M
YoY Change 19.1% 124.37%
INVESTING ACTIVITIES
Capital Expenditures -$103.0M -$73.00M $53.00M
YoY Change 41.1% -273.81%
Acquisitions $0.00
YoY Change
Other Investing Activities $44.00M -$3.000M $0.00
YoY Change -1566.67% -200.0%
Cash From Investing Activities -$59.00M -$76.00M -$45.00M
YoY Change -22.37% 58.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $190.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -226.0M -271.0M -$262.0M
YoY Change -16.61% 53.98%
NET CHANGE
Cash From Operating Activities 318.0M 267.0M $389.0M
Cash From Investing Activities -59.00M -76.00M -$45.00M
Cash From Financing Activities -226.0M -271.0M -$262.0M
Net Change In Cash 33.00M -80.00M $82.00M
YoY Change -141.25% -23.81%
FREE CASH FLOW
Cash From Operating Activities $318.0M $267.0M $389.0M
Capital Expenditures -$103.0M -$73.00M $53.00M
Free Cash Flow $421.0M $340.0M $336.0M
YoY Change 23.82% 341.56%

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etis 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, vaccines and diagnostic products with a focus on both livestock and companion animals. We organize and operate our business in <span style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"><span>two</span></span><span style="font-family:inherit;font-size:9pt;"> geographic regions: the United States (U.S.) and International. </span><span style="font-family:inherit;font-size:9pt;">We directly market our products in approximately </span><span style="font-family:inherit;font-size:9pt;"><span>45</span></span><span 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 </span><span style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"><span>100</span></span><span style="font-family:inherit;font-size:9pt;"> countries, including developed markets and emerging markets. We have a diversified business, marketing products across </span><span style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"><span>eight</span></span><span 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 </span><span style="font-family:inherit;font-size:9pt;"><span>six</span></span> major product categories: anti-infectives, vaccines, parasiticides, medicated feed additives, animal health diagnostics and other pharmaceuticals.
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Abaxis, Inc. (Abaxis), a California corporation and a leader in the development, manufacture and marketing of diagnostic instruments for veterinary point-of-care services.
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CY2018Q2 us-gaap Interest Expense
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us-gaap Interest Expense
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CY2019Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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0 USD
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CY2019Q2 us-gaap Long Term Debt Noncurrent
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0 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1350000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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0 USD
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2019Q2 us-gaap Derivative Fair Value Of Derivative Net
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18000000 USD
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DerivativeFairValueOfDerivativeNet
10000000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
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CY2019Q2 us-gaap Operating Lease Liability Current
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OperatingLeaseLiabilityNoncurrent
169000000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
205000000 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y4M13D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0375
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
10000000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
19000000 USD
CY2019Q2 us-gaap Variable Lease Payment
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4000000 USD
us-gaap Variable Lease Payment
VariableLeasePayment
8000000 USD
CY2019Q2 us-gaap Short Term Lease Payments
ShortTermLeasePayments
3000000 USD
us-gaap Short Term Lease Payments
ShortTermLeasePayments
6000000 USD
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
10000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
19000000 USD
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
47000000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
223000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
22000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
40000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
34000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
30000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
25000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
85000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
236000000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
31000000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
205000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
38000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
30000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
24000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
21000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
15000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
45000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
173000000 USD
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
45000000 USD
CY2019Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
258000000 USD
CY2019Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
684000000 USD
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
744000000 USD
CY2019Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
527000000 USD
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
481000000 USD
CY2019Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
193000000 USD
CY2018Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
166000000 USD
CY2019Q2 us-gaap Inventory Net
InventoryNet
1404000000 USD
CY2018Q4 us-gaap Inventory Net
InventoryNet
1391000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2675000000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
2519000000 USD
us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
-14000000 USD
CY2019Q2 us-gaap Goodwill
Goodwill
2505000000 USD
CY2019Q2 us-gaap Goodwill Gross
GoodwillGross
3041000000 USD
CY2018Q4 us-gaap Goodwill Gross
GoodwillGross
3055000000 USD
CY2019Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
536000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1017000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1658000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2644000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
906000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1738000000 USD
CY2019Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
258000000 USD
us-gaap Profit Loss
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732000000 USD
CY2019Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
4000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
444789 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
87.77
CY2018Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
308000000 USD
CY2018Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
308000000 USD
CY2019Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2933000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1017000000 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1916000000 USD
CY2018Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2952000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
906000000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2046000000 USD
CY2019Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
894000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51000000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17000000 USD
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
35000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22000000 USD
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
2000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.82
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0257
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0075
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2308
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M12D
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
6000000000 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000000 shares
CY2019Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1000000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
371000000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
382000000 USD
us-gaap Profit Loss
ProfitLoss
683000000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
371000000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
384000000 USD
us-gaap Net Income Loss
NetIncomeLoss
683000000 USD
us-gaap Net Income Loss
NetIncomeLoss
736000000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
478800000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
483800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
479200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
484800000 shares
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3500000 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3700000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3500000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3800000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
482300000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
487500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
482700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
488600000 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.79
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.43
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.52
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.77
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.51
us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
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 <span style="font-family:inherit;font-size:9pt;">June 30, 2019</span>, recorded amounts for the estimated fair value of these indemnifications were not significant.
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
455000000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
437000000 USD
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
98000000 USD
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
63000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
836000000 USD
CY2019Q2 us-gaap Inventory Adjustments
InventoryAdjustments
68000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
854000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
196000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
123000000 USD
zts Charge Relatedto Implementationof New Accounting Guidance
ChargeRelatedtoImplementationofNewAccountingGuidance
1000000 USD

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