Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' Equity

13. Stockholders' Equity

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

In December 2018, the company's Board of Directors authorized a $2.0 billion share repurchase program. As of March 31, 2021, there was approximately $1.2 billion remaining under this authorization. Purchases of Zoetis shares may be made at the discretion of management, depending on market conditions and business needs. The company temporarily suspended share repurchases beginning in the second quarter of 2020. In January 2021, the company resumed share repurchases under its share repurchase program.

Accumulated other comprehensive loss

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

			Currency Translation Adjustments
					Other Currency				Accumulated Other
	Cash Flow		Net Investment		Translation				Comprehensive
(MILLIONS OF DOLLARS)	Hedges		Hedges		Adjustments		Benefit Plans		Loss
Balance, December 31, 2020	$	(15)	$	(37)	$	(655)	$	(23)	$	(730)
Other comprehensive income, net of tax	39		25		33		—		97
Balance, March 31, 2021	$	24	$	(12)	$	(622)	$	(23)	$	(633)
Balance, December 31, 2019	$	—	$	21	$	(724)	$	(23)	$	(726)
Other comprehensive (loss)/income, net of tax	(28)		17		(44)		—		(55)
Balance, March 31, 2020	$	(28)	$	38	$	(768)	$	(23)	$	(781)