$ZTS
Zoetis Inc.

2022 Q1 Form 10-Q Financial Statement

#000155528022000174 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $1.986B $1.871B
YoY Change 6.15% 21.97%
Cost Of Revenue $569.0M $549.0M
YoY Change 3.64% 19.61%
Gross Profit $1.417B $1.322B
YoY Change 7.19% 22.98%
Gross Profit Margin 71.35% 70.66%
Selling, General & Admin $465.0M $409.0M
YoY Change 13.69% 5.14%
% of Gross Profit 32.82% 30.94%
Research & Development $122.0M $118.0M
YoY Change 3.39% 10.28%
% of Gross Profit 8.61% 8.93%
Depreciation & Amortization $114.0M $109.0M
YoY Change 4.59% -0.91%
% of Gross Profit 8.05% 8.25%
Operating Expenses $587.0M $527.0M
YoY Change 11.39% 6.25%
Operating Profit $830.0M $795.0M
YoY Change 4.4% 37.31%
Interest Expense $53.00M $57.00M
YoY Change -7.02% 7.55%
% of Operating Profit 6.39% 7.17%
Other Income/Expense, Net -$7.000M -$2.000M
YoY Change 250.0% -110.0%
Pretax Income $727.0M $687.0M
YoY Change 5.82% 38.23%
Income Tax $133.0M $129.0M
% Of Pretax Income 18.29% 18.78%
Net Earnings $595.0M $559.0M
YoY Change 6.44% 32.15%
Net Earnings / Revenue 29.96% 29.88%
Basic Earnings Per Share $1.26 $1.18
Diluted Earnings Per Share $1.26 $1.17
COMMON SHARES
Basic Shares Outstanding 472.2M shares 475.5M shares
Diluted Shares Outstanding 474.1M shares 477.9M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.132B $3.600B
YoY Change -13.0% 84.62%
Cash & Equivalents $3.135B $3.602B
Short-Term Investments
Other Short-Term Assets $423.0M $367.0M
YoY Change 15.26% -2.13%
Inventory $2.057B $1.700B
Prepaid Expenses
Receivables $1.222B $1.125B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.837B $6.794B
YoY Change 0.63% 42.37%
LONG-TERM ASSETS
Property, Plant & Equipment $2.487B $2.227B
YoY Change 11.67% 12.65%
Goodwill $2.685B $2.707B
YoY Change -0.81% 4.8%
Intangibles $1.430B $1.671B
YoY Change -14.42% -8.24%
Long-Term Investments
YoY Change
Other Assets $129.0M $108.0M
YoY Change 19.44% 2.86%
Total Long-Term Assets $7.023B $7.002B
YoY Change 0.3% 3.64%
TOTAL ASSETS
Total Short-Term Assets $6.837B $6.794B
Total Long-Term Assets $7.023B $7.002B
Total Assets $13.86B $13.80B
YoY Change 0.46% 19.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $402.0M $346.0M
YoY Change 16.18% 30.57%
Accrued Expenses $888.0M $813.0M
YoY Change 9.23% 12.76%
Deferred Revenue $3.000M
YoY Change 0.0%
Short-Term Debt $0.00 $4.000M
YoY Change -100.0%
Long-Term Debt Due $1.350B $600.0M
YoY Change 125.0% 20.0%
Total Short-Term Liabilities $3.034B $2.066B
YoY Change 46.85% 20.05%
LONG-TERM LIABILITIES
Long-Term Debt $5.228B $6.587B
YoY Change -20.63% 10.46%
Other Long-Term Liabilities $241.0M $235.0M
YoY Change 2.55% -6.37%
Total Long-Term Liabilities $5.469B $6.822B
YoY Change -19.83% 9.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.034B $2.066B
Total Long-Term Liabilities $5.469B $6.822B
Total Liabilities $9.202B $9.704B
YoY Change -5.17% 10.59%
SHAREHOLDERS EQUITY
Retained Earnings $7.628B $6.099B
YoY Change 25.07% 28.02%
Common Stock $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.317B $2.412B
YoY Change 37.52% 7.1%
Treasury Stock Shares 30.68M shares 26.92M shares
Shareholders Equity $4.658B $4.089B
YoY Change
Total Liabilities & Shareholders Equity $13.86B $13.80B
YoY Change 0.46% 19.67%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $595.0M $559.0M
YoY Change 6.44% 32.15%
Depreciation, Depletion And Amortization $114.0M $109.0M
YoY Change 4.59% -0.91%
Cash From Operating Activities $309.0M $400.0M
YoY Change -22.75% -1.96%
INVESTING ACTIVITIES
Capital Expenditures $115.0M $77.00M
YoY Change 49.35% -18.09%
Acquisitions
YoY Change
Other Investing Activities -$3.000M $0.00
YoY Change -100.0%
Cash From Investing Activities -$118.0M -$63.00M
YoY Change 87.3% 10.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $361.0M $181.0M
YoY Change 99.45% -27.6%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -$545.0M -$339.0M
YoY Change 60.77% 3.35%
NET CHANGE
Cash From Operating Activities $309.0M $400.0M
Cash From Investing Activities -$118.0M -$63.00M
Cash From Financing Activities -$545.0M -$339.0M
Net Change In Cash -$350.0M -$2.000M
YoY Change 17400.0% -111.76%
FREE CASH FLOW
Cash From Operating Activities $309.0M $400.0M
Capital Expenditures $115.0M $77.00M
Free Cash Flow $194.0M $323.0M
YoY Change -39.94% 2.87%

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<div style="margin-bottom:6pt;margin-top:12pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">1. Organization </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Zoetis Inc. (including its subsidiaries, collectively, Zoetis, the company, we, us or our) is a global leader in the animal health industry, focused on the discovery, development, manufacture and commercialization of medicines, vaccines, diagnostic products and services, biodevices, genetic tests and precision animal health technology. We organize and operate our business in two geographic regions: the United States (U.S.) and International. </span></div>We directly market our products in approximately 45 countries across North America, Europe, Africa, Asia, Australia and South America. Our products are sold in more than 100 countries, including developed markets and emerging markets. We have a diversified business, marketing products across eight core species: dogs, cats and horses (collectively, companion animals) and cattle, swine, poultry, fish and sheep (collectively, livestock); and within seven major product categories: parasiticides, vaccines, dermatology, anti-infectives, other pharmaceutical products, medicated feed additives and animal health diagnostics.
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0.0181
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0.2764
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P4Y10M24D
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319000000 USD
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1900000 shares
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2400000 shares
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474100000 shares
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1.26
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1.17
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39 Companies
CY2022Q1 us-gaap Guarantees Indemnifications And Warranties Policies
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B. Guarantees and IndemnificationsIn 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 March 31, 2022, recorded amounts for the estimated fair value of these indemnifications were not significant.
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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727000000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
687000000 USD
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
114000000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
109000000 USD

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