Stockholders' Equity

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Stockholders' Equity

tis is authorized to issue 6 billion shares of common stock and 1 billion shares of preferred stock.

In December 2016, the company's Board of Directors authorized a $1.5 billion share repurchase program. As of March 31, 2019, there was approximately $151 million remaining under this authorization. In December 2018, the company's Board of Directors authorized an additional $2.0 billion share repurchase program. Purchases of Zoetis shares may be made at the discretion of management, depending on market conditions and business needs.

Changes in common shares and treasury stock were as follows:

(MILLIONS)	Common Shares Issued(a)	Treasury Stock(a)
Balance, December 31, 2017	501.89	15.76
Share-based compensation	—	(0.99	)
Share repurchase program	—	2.40
Balance, March 31, 2018	501.89	17.17
Balance, December 31, 2018	501.89	22.33
Share-based compensation	—	(1.14	)
Share repurchase program	—	1.67
Balance, March 31, 2019	501.89	22.87

^(a)   Shares may not add due to rounding.

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.

Accumulated other comprehensive income/(loss)

Changes, net of tax, in accumulated other comprehensive loss, excluding noncontrolling interests, were as follows:

				Currency Translation Adjustments
												Accumulated Other
	Cash Flow			Net Investment		Other Currency						Comprehensive
(MILLIONS OF DOLLARS)	Hedges			Hedges		Translation Adj			Benefit Plans			(Loss)/Income
Balance, December 31, 2017	$	(3	)	$	—	$	(487	)	$	(15	)	$	(505	)
Other comprehensive income, net of tax	—			—		76			—			76
Balance, March 31, 2018	$	(3	)	$	—	$	(411	)	$	(15	)	$	(429	)
Balance, December 31, 2018	$	(4	)	$	10	$	(621	)	$	(14	)	$	(629	)
Other comprehensive income, net of tax	—			8		23			—			31
Balance, March 31, 2019	$	(4	)	$	18	$	(598	)	$	(14	)	$	(598	)