Earnings per Share

9 Months Ended

Sep. 30, 2020

14. Earnings per Share

The following table presents the calculation of basic and diluted earnings per share:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(MILLIONS OF DOLLARS AND SHARES, EXCEPT PER SHARE DATA)	2020		2019		2020		2019
Numerator
Net income before allocation to noncontrolling interest	$	479	$	433	$	1,278	$	1,116
Less: Net loss attributable to noncontrolling interests	—		—		(1)		—
Net income attributable to Zoetis Inc.	$	479	$	433	$	1,279	$	1,116
Denominator
Weighted-average common shares outstanding	475.5		477.8		475.5		478.7
Common stock equivalents: stock options, RSUs, PSUs and DSUs	3.0		3.7		3.0		3.6
Weighted-average common and potential dilutive shares outstanding	478.5		481.5		478.5		482.3

Earnings per share attributable to Zoetis Inc. stockholders—basic	$	1.01	$	0.91	$	2.69	$	2.33
Earnings per share attributable to Zoetis Inc. stockholders—diluted	$	1.00	$	0.90	$	2.67	$	2.31

The number of stock options outstanding under the company's Equity Plan that were excluded from the computation of diluted earnings per share, as the effect would have been antidilutive, were de minimis for the three and nine months ended September 30, 2020 and September 30, 2019.