We offer a diversified portfolio of products which allows us to capitalize on local and regional customer needs. Generally, our products are promoted to veterinarians and livestock producers by our sales organization which includes sales representatives and technical and veterinary operations specialists, and then sold directly by us or through distributors, retailers and e-commerce outlets. The depth of our product portfolio enables us to address the varying needs of customers in different species and geographies. Many of our top selling product lines are distributed

across both of our operating segments, leveraging our research and development (R&D) operations and manufacturing and supply chain network.

Over the course of our history, we have focused on developing a diverse portfolio of animal health products, including medicines, vaccines and diagnostics, complemented by biodevices, genetic tests and a range of services. We refer to a single product in all brands, or its dosage forms for all species, as a product line. We have approximately 300 comprehensive product lines, including products for both livestock and companion animals across each of our major product categories.

In the fourth quarter of 2019, the company modified the list of major product categories to include a category for dermatology products, which was previously included within other pharmaceutical products. The prior period presentation has been revised to reflect the new product categories.

•vaccines: biological preparations that help prevent diseases of the respiratory, gastrointestinal and reproductive tracts or induce a specific immune response;

•animal health diagnostics: portable blood and urine analysis systems and point-of-care diagnostic products, including instruments and reagents, rapid immunoassay tests, reference laboratory kits and blood glucose monitors.

Our remaining revenue is derived from other non-pharmaceutical product categories, such as nutritionals and agribusiness, as well as products and services in smaller but fast growing areas, including biodevices, genetic tests and precision livestock farming.

Our livestock products primarily help prevent or treat diseases and conditions to enable the cost-effective production of safe, high-quality animal protein. Human population growth and increasing standards of living are important long-term growth drivers for our livestock products in three major ways. First, population growth and increasing standards of living drive increased demand for improved nutrition, particularly animal protein. Second, population growth leads to increased natural resource constraints driving a need for enhanced productivity. Finally, as standards of living improve, there is increased focus on food quality and safety.

Our companion animal products help extend and improve the quality of life for pets; increase convenience and compliance for pet owners; and help veterinarians improve the quality of their care and the efficiency of their businesses. Growth in the companion animal medicines, vaccines and diagnostics sector is driven by economic development, related increases in disposable income and increases in pet ownership and spending on pet care. Companion animals are also living longer, receiving increased medical treatment and benefiting from advances in animal health medicines and vaccines.


	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS)	2020		2019
United States	$	786	$	718
Australia	43		48
Brazil	63		60
Canada	40		41
China	66		60
France	29		32
Germany	34		37
Italy	21		28
Japan	41		37
Mexico	32		28
Spain	28		27
United Kingdom	55		57
Other developed markets	87		84
Other emerging markets	189		179
	1,514		1,436
Contract manufacturing & human health	20		19
Total Revenue	$	1,534	$	1,455


	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS)	2020		2019
U.S.
Companion animal	$	499	$	445
Livestock	287		273
	786		718
International
Companion animal	298		284
Livestock	430		434
	728		718
Contract manufacturing & human health	20		19
Total Revenue	$	1,534	$	1,455


	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS)	2020		2019
Companion Animal:
Dogs and Cats	$	746	$	688
Horses	51		41
	797		729
Livestock:
Cattle	370		380
Swine	157		149
Poultry	148		139
Fish	26		23
Sheep and other	16		16
	717		707
Contract manufacturing & human health	20		19
Total Revenue	$	1,534	$	1,455


	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS)	2020		2019
Vaccines	$	349	$	358
Anti-infectives	280		286
Parasiticides	255		231
Other pharmaceuticals	197		190
Dermatology	197		159
Medicated feed additives	125		112
Animal health diagnostics	60		60
Other non-pharmaceuticals	51		40
	1,514		1,436
Contract manufacturing & human health	20		19
Total Revenue	$	1,534	$	1,455

Contract liabilities reflected within Other current liabilities as of December 31, 2019 and December 31, 2018, and subsequently recognized as revenue during the first three months of 2020 and 2019 were approximately $3 million and $1 million, respectively. Contract liabilities as of March 31, 2020 and December 31, 2019 were approximately $10 million and $11 million, respectively.