Selected Quarterly Financial Data (Unaudited) Selected Quarterly Financial Data (Unaudited) (Notes)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

Selected Quarterly Financial Data (Unaudited)

(MILLIONS OF DOLLARS, EXCEPT PER COMMON SHARE DATA)	FIRST		SECOND			THIRD			FOURTH
2013:
Revenue	$	1,090	$	1,114		$	1,103		$	1,254
Costs and expenses	891		947			915			1,092
Restructuring charges and certain acquisition-related costs	7		(20		)	3			36
Income before provision for taxes on income	192		187			185			126
Provision for taxes on income(a)	52		59			54			22
Net income before allocation to noncontrolling interests	140		128			131			104
Net income/(loss) attributable to noncontrolling interests	—		—			—			(1		)
Net income/(loss) attributable to Zoetis	$	140	$	128		$	131		$	105
Earnings per common share--basic(c)	$	0.28	$	0.26		$	0.26		$	0.21
Earnings per common share--diluted(c)	$	0.28	$	0.26		$	0.26		$	0.21
2012:
Revenue	$	1,047	$	1,094		$	1,019		$	1,176
Costs and expenses(b)	851		818			800			1,022
Restructuring charges and certain acquisition-related costs	25		24			6			80
Income before provision for taxes on income	171		252			213			74
Provision for taxes on income(a)	59		79			52			84
Net income before allocation to noncontrolling interests	112		173			161			(10		)
Net income/(loss) attributable to noncontrolling interests	1		—			(1		)	—
Net income attributable to Zoetis	$	111	$	173		$	162		$	(10	)
Earnings per common share--basic(c)	$	0.22	$	0.35		$	0.32		$	(0.02	)
Earnings per common share--diluted(c)	$	0.22	$	0.35		$	0.32		$	(0.02	)

^(a)  Fourth quarter comparisons are impacted by an elevated tax rate in the fourth quarter of 2012, when Zoetis was still a business unit of Pfizer and reported consolidated results. The 2012 income tax provision in the combined statement of income was calculated as if Zoetis filed a separate tax return.

^(b)  Costs and expenses in the fourth quarter reflect seasonal trends as well as specific costs associated with the build-up of our capabilities as an independent company.

^(c)  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.

Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not agree to the total for the year.

Our historical combined quarterly financial data may not be representative of the results we would have achieved as an independent company.