XML 53 R100.htm IDEA: XBRL DOCUMENT v2.4.0.8
Selected Quarterly Financial Data (Unaudited) Selected Quarterly Financial Data (Unaudited) (Details) (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 12 Months Ended 24 Months Ended
Dec. 31, 2013
Sep. 29, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jul. 01, 2012
Apr. 01, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]                        
Weighted-average common shares outstanding                 500,002 500,000 [1] 500,000 [1],[2] 500,000
Revenue, Net $ 1,254 $ 1,103 $ 1,114 $ 1,090 $ 1,176 $ 1,019 $ 1,094 $ 1,047 $ 4,561 [3] $ 4,336 [3] $ 4,233 [2],[3]  
Costs and Expenses 1,092 [4] 915 [4] 947 [4] 891 [4] 1,022 800 818 851        
Restructuring charges and certain acquisition-related costs 36 3 (20) 7 80 6 24 25 26 135 154 [2]  
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest 126 185 187 192 74 213 252 171 690 [5],[6],[7] 710 [5],[6],[7] 394 [2],[5],[6],[7]  
Provision for taxes on income 22 [8] 54 [8] 59 [8] 52 [8] 84 [8] 52 [8] 79 [8] 59 [8] 187 [5],[7],[9] 274 [5],[7],[9] 146 [2],[5],[7],[9]  
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 104 131 128 140 (10) 161 173 112 503 436 248 [10],[2]  
Net income/(loss) attributable to noncontrolling interests (1) 0 0 0 0 (1) 0 1 (1) 0 3 [2]  
Net Income (Loss) Attributable to Parent $ 105 $ 131 $ 128 $ 140 $ (10) $ 162 $ 173 $ 111 $ 504 $ 436 $ 245 [2]  
Earnings Per Share, Basic $ 0.21 [11] $ 0.26 [11] $ 0.26 [11] $ 0.28 [11] $ (0.02) [11] $ 0.32 [11] $ 0.35 [11] $ 0.22 [11] $ 1.01 $ 0.87 $ 0.49 [2]  
Diluted (in dollars per share) $ 0.21 [11] $ 0.26 [11] $ 0.26 [11] $ 0.28 [11] $ (0.02) [11] $ 0.32 [11] $ 0.35 [11] $ 0.22 [11] $ 1.01 $ 0.87 $ 0.49 [2]  
[1] The weighted average shares outstanding for both basic and diluted earnings per share for the years ended December 31, 2012 and 2011 was calculated using 500 million shares of common stock outstanding, which was the number of Zoetis Inc. shares outstanding at the time of the initial public offering, which was completed on February 6, 2013. There were no Zoetis restricted stock units, deferred stock units, stock options or performance shares outstanding prior to the initial public offering.
[2] Includes revenue and expenses from acquisitions from the acquisition date, see Note 3. Basis of Presentation and Note 5. Acquisitions, Divestitures and Certain Investments.
[3] Revenue denominated in euros were $693 million in 2013, $639 million in 2012, and $710 million in 2011.
[4] {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmU0ODZiN2M4NjFhMjQ2MjM4ZjJhMDY0MWI2ZGMxZjU0fFRleHRTZWxlY3Rpb246MkM5RjNCMTlGQTZGQzg5MkE3RTdGRkQ3REY0QjU5MDQM}
[5] In 2012, the Provision for taxes on income reflects the following:•U.S. tax benefits of approximately $29.3 million, representing tax and interest, resulting from a multi-year settlement with the U.S. Internal Revenue Service with respect to audits for the years 2006 through 2008, and international tax benefits of approximately $2.7 million, representing tax and interest, resulting from the resolution of certain tax positions pertaining to prior years with various foreign tax authorities and from the expiration of certain statutes of limitations;•U.S. tax expense of approximately $9 million as a result of providing U.S. deferred income taxes on certain current-year income earned outside the United States that will not be indefinitely reinvested overseas (see C. Deferred Taxes);•The expiration of the U.S. Research and Development Tax Credit on December 31, 2011; and•Tax cost related to changes in uncertain tax positions (see D. Tax Contingencies).
[6] Defined as income before provision for taxes on income.
[7] In 2013, the Provision for taxes on income reflects the following:•U.S. tax expense of approximately $3 million as a result of providing U.S. deferred income taxes on certain current-year income earned outside the United States that will not be indefinitely reinvested overseas (see C. Deferred Taxes);•U.S. tax benefit related to U.S. Research and Development Tax Credit which was retroactively extended on January 3, 2013, and the U.S. Domestic Production Activities deduction;•Tax expense of approximately $25 million related to the establishment of valuation allowance; and •Tax cost related to changes in uncertain tax positions (see D. Tax Contingencies).
[8] {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmU0ODZiN2M4NjFhMjQ2MjM4ZjJhMDY0MWI2ZGMxZjU0fFRleHRTZWxlY3Rpb246RkFERTU4NDYyMURFOTFBNjFFMENGRkQ4NUFBNDI1ODcM}
[9] In 2011, the Provision for taxes on income reflects the following:•U.S. tax expense of approximately $9 million as a result of providing U.S. deferred income taxes on certain current-year income earned outside of the United States that will not be indefinitely reinvested overseas; and •U.S. tax benefits of approximately $9.5 million, representing tax and interest, resulting from the tax benefit recorded in connection with the settlement of certain audits with the U.S. Internal Revenue Service.
[10] Includes impacts from acquisitions from the acquisition date, see Note 3. Basis of Presentation and Note 5. Acquisitions, Divestitures and Certain Investments.
[11] The weighted average common shares outstanding for both basic and diluted earnings per share for 2012 was calculated using an aggregate of 500 million shares of common stock outstanding, which was the number of Zoetis Inc. shares outstanding at the time of the IPO. There were no Zoetis restricted stock units, stock options or performance shares outstanding prior to the IPO.