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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common Stock
[1]
Treasury Stock
[1]
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Equity Attributable to Noncontrolling Interests
Beginning balance at Dec. 31, 2015 $ 1,091 $ 5 $ (203) $ 1,012 $ 876 $ (622) $ 23
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 428       428    
Other comprehensive income/(loss) 65         66 (1)
Share-based compensation awards [2] 37   60 (3) (20)    
Treasury stock acquired [3] (151)   (151)        
Employee benefit plan contribution from Pfizer Inc. [4] 1     1      
Divestitures [5] (6)         2 (8)
Dividends declared (94)       (94)    
Ending balance at Jul. 03, 2016 1,371 5 (294) 1,010 1,190 (554) 14
Beginning balance at Dec. 31, 2016 1,499 5 (421) 1,024 1,477 (598) 12
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 486       485   1
Other comprehensive income/(loss) 56         56  
Consolidation of a noncontrolling interest [6] 18           18
Share-based compensation awards [2] 39   56 (1) (16)    
Treasury stock acquired [3] (250)   (250)        
Employee benefit plan contribution from Pfizer Inc. [4] 1     1      
Dividends declared (103)       (103)    
Ending balance at Jul. 02, 2017 $ 1,746 $ 5 $ (615) $ 1,024 $ 1,843 $ (542) $ 31
[1] As of July 2, 2017, and July 3, 2016, there were 489,659,511 and 495,389,702 outstanding shares of common stock, respectively, and 12,231,732 and 6,501,541 shares of treasury stock, respectively. Treasury stock is recognized at the cost to reacquire the shares. For additional information, see Note 13. Stockholders' Equity.
[2] Includes the issuance of shares of Zoetis Inc. common stock and the reissuance of treasury stock in connection with the vesting of employee share-based awards. Upon reissuance of treasury stock, differences between the proceeds from reissuance and the cost of the treasury stock that result in gains are recorded in Additional paid-in capital. Losses are recorded in Additional paid-in capital to the extent that they can offset previously recorded gains. If no such credit exists, the differences are recorded in Retained earnings. Also includes the reacquisition of shares of treasury stock associated with the vesting of employee share-based awards to satisfy tax withholding requirements. For additional information, see Note 12. Share-Based Payments and Note. 13. Stockholders' Equity.
[3] Reflects the acquisition of treasury shares in connection with the share repurchase program. For additional information, see Note 13. Stockholders' Equity.
[4] Represents contributed capital from Pfizer Inc. associated with service credit continuation for certain Zoetis Inc. employees in Pfizer Inc.'s U.S. qualified defined benefit and U.S. retiree medical plans. See Note 11. Benefit Plans.
[5] Reflects the divestiture of our share of our Taiwan joint venture. See Note 4. Acquisitions and Divestitures: Divestitures.
[6] Represents the consolidation of a European livestock monitoring company, a variable interest entity of which Zoetis is the primary beneficiary.