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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2017
Jul. 03, 2016
Jul. 02, 2017
Jul. 03, 2016
Income Statement [Abstract]        
Revenue $ 1,269 $ 1,208 $ 2,500 $ 2,370
Costs and expenses:        
Cost of Sales [1] 440 399 883 788
Selling, general and administrative expenses [1] 336 343 645 658
Research and development expenses [1] 86 88 176 178
Amortization of intangible assets [1] 23 22 45 43
Restructuring charges/(reversals) and certain acquisition-related costs 0 (21) (1) (19)
Interest expense, net of capitalized interest 41 41 82 84
Other (income)/deductions—net (2) 4 (12) (26)
Income before provision for taxes on income [2] 345 332 682 664
Provision for taxes on income 98 108 196 236
Net income before allocation to noncontrolling interests 247 224 486 428
Less: Net income attributable to noncontrolling interests 0 0 1 0
Net income attributable to Zoetis Inc. $ 247 $ 224 $ 485 $ 428
Earnings per share attributable to Zoetis Inc. stockholders:        
Basic (in dollars per share) $ 0.50 $ 0.45 $ 0.99 $ 0.86
Diluted (in dollars per share) $ 0.50 $ 0.45 $ 0.98 $ 0.86
Weighted-average common shares outstanding:        
Basic (in shares) 490.8 496.3 491.6 496.9
Diluted (in shares) 494.0 498.8 494.6 499.2
Dividends paid per common share (in dollars per share) $ 0.105 $ 0.095 $ 0.21 $ 0.190
[1] Amortization expense related to finite-lived acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets as these intangible assets benefit multiple business functions. Amortization expense related to finite-lived acquired intangible assets that are associated with a single function is included in Cost of sales, Selling, general and administrative expenses or Research and development expenses, as appropriate, in the condensed consolidated statements of income.
[2] Defined as income before provision for taxes on income.