XML 179 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Summary
Compensation
Table (SCT)
Total for
CEO
(1)
($)
Compensation
Actually
Paid (CAP)
to CEO
(1)(2)
($)
Average
SCT
Total for
Other
NEOs
(1)
($)
Average
CAP to
Other
NEOs
(1)(2)
($)
Value of Initial Fixed $100
Investment Based On:
Net Income
($ in millions)
Revenue
(Company
Selected
Measure)
($ in millions)
Year
Zoetis TSR
($)
S&P 500
Pharmaceuticals
Index TSR
($)
2024
17,206,760 759,623 3,351,274 1,095,197 127.80159.212,486 9,256 
2023
15,237,853 26,369,229 2,994,932 4,592,358 153.30147.142,344 8,544 
2022
14,003,540 (15,709,790)2,931,816 (3,076,052)112.80146.652,114 8,080 
2021
13,098,491 33,519,679 4,455,516 10,261,897 186.46135.222,037 7,776 
2020
10,374,312 15,564,796 3,756,846 6,519,899 125.76107.521,638 6,675 
       
Company Selected Measure Name Revenue        
Named Executive Officers, Footnote In all years shown Kristin C. Peck was our Chief Executive Officer. The other named executive officers (NEO) represent the following individuals: for 2024, Wetteny Joseph, Robert J. Polzer, Jamie Brannan, Roxanne Lagano, Heidi C. Chen, and Wafaa Mamilli; for 2023, Wetteny Joseph, Heidi C. Chen, Wafaa Mamilli and Robert J. Polzer; for 2022, Wetteny Joseph, Glenn C. David, Heidi C. Chen, and Wafaa Mamilli; for 2021, Wetteny Joseph, Glenn C. David, Catherine A. Knupp, Roman Trawicki and Heidi C. Chen; and for 2020, Glenn C. David, Catherine A. Knupp, Roman Trawicki and Wafaa Mamilli.        
PEO Total Compensation Amount $ 17,206,760 $ 15,237,853 $ 14,003,540 $ 13,098,491 $ 10,374,312
PEO Actually Paid Compensation Amount $ 759,623 26,369,229 (15,709,790) 33,519,679 15,564,796
Adjustment To PEO Compensation, Footnote To calculate Compensation Actually Paid (CAP) the following amounts were deducted from and added to the Summary Compensation Table (SCT) total compensation:
CEO SCT Total to CAP Reconciliation:
Deductions from SCT Total(a)
Year
SCT Total
($)
Stock
Awards
($)
Options
Awards
($)
Additions to
SCT Total
(b)
($)
Compensation
Actually Paid
($)
2024
17,206,760 (9,562,347)(3,187,500)(3,697,290)759,623 
2023
15,237,853 (8,774,860)(2,924,967)22,831,203 26,369,229 
2022
14,003,540 (8,399,841)(2,799,966)(18,513,523)(15,709,790)
2021
13,098,491 (6,929,797)(2,309,970)29,660,955 33,519,679 
2020
10,374,312 (5,684,840)(1,894,975)12,770,299 15,564,796 
CEO Equity Component of CAP:
Year
Equity Type
Fair Value of
Current Year
Equity Awards at
End of Year
($)
Change in Value
of Prior Years’
Awards Unvested at
End of Year
($)
Change in Value
of Prior Years’
Awards That Vested
During the Year
($)
Equity Value
Included in CAP
($)
2024
Stock Options
1,599,375 (2,205,096)(40,922)(646,643)
Restricted Stock Units
2,668,416 (867,090)5,906 1,807,232 
Performance Award Units
2,859,270 (7,726,027)8,878 (4,857,879)
Total
7,127,061 (10,798,213)(26,138)(3,697,290)
2023
Stock Options
3,971,133 1,923,431 372,068 6,266,632 
Restricted Stock Units
3,585,639 1,500,387 162,461 5,248,488 
Performance Award Units
8,054,738 3,060,551 200,795 11,316,083 
Total
15,611,510 6,484,369 735,324 22,831,203 
2022
Stock Options
1,528,648 (7,897,241)(931,398)(7,299,991)
Restricted Stock Units
2,049,978 (2,672,369)(234,149)(856,541)
Performance Award Units
2,460,116 (12,009,652)(807,455)(10,356,991)
Total
6,038,742 (22,579,262)(1,973,002)(18,513,523)
2021
Stock Options
5,709,571 5,052,274 33,020 10,794,866 
Restricted Stock Units
3,523,058 1,469,682 10,165 5,002,905 
Performance Award Units
8,916,215 4,932,126 14,842 13,863,183 
Total
18,148,844 11,454,083 58,027 29,660,955 
2020
Stock Options
2,309,500 1,341,931 385,408 4,036,839 
Restricted Stock Units
2,186,374 411,103 103,798 2,701,275 
Performance Award Units
4,749,437 1,128,981 153,769 6,032,186 
Total
9,245,311 2,882,015 642,974 12,770,299 
       
Non-PEO NEO Average Total Compensation Amount $ 3,351,274 2,994,932 2,931,816 4,455,516 3,756,846
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,095,197 4,592,358 (3,076,052) 10,261,897 6,519,899
Adjustment to Non-PEO NEO Compensation Footnote
Average Other NEOs SCT Total to CAP Reconciliation:
Deductions from SCT Total(a)
Year
SCT Total
($)
Stock
Awards
($)
Options
Awards
($)
Additions to
SCT Total
(b)
($)
Compensation
Actually Paid
($)
20243,351,274 (1,236,913)(412,369)(606,795)1,095,197 
2023
2,994,932 (1,239,133)(413,112)3,249,671 4,592,358 
2022
2,931,816 (1,405,542)(468,570)(4,133,756)(3,076,052)
2021
4,455,516 (2,118,241)(366,105)8,290,727 10,261,897 
2020
3,756,846 (1,302,977)(496,860)4,562,890 6,519,899 
(a)These deductions are the amounts listed in the “Stock Awards” and “Option Awards” columns of the SCT and represent the grant date fair value of equity-based awards granted each year.
(b)Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. The equity component for each year is detailed in the supplemental table below:
Average Other NEOs Equity Component of CAP:
Year
Equity Type
Fair Value of
Current Year
Equity Awards at
End of Year
($)
Change in Value
of Prior Years’
Awards Unvested at
End of Year
($)
Change in Value
of Prior Years’
Awards That Vested
During the Year
($)
Equity Value
Included in CAP
($)
2024
Stock Options
177,330 (251,572)(2,688)(76,930)
Restricted Stock Units
303,934 (131,626)(106,952)65,356 
Performance Awards Units
324,800 (920,604)583 (595,221)
Total
806,064 (1,303,802)(109,057)(606,795)
2023
Stock Options
560,869 169,611 46,139 776,619 
Restricted Stock Units
506,345 509,551 20,141 1,036,037 
Performance Award Units
1,137,439 284,615 14,962 1,437,015 
Total
2,204,652 963,777 81,242 3,249,671 
2022
Stock Options
255,817 (1,352,757)(446,281)(1,543,221)
Restricted Stock Units
343,039 (1,110,941)(112,191)(880,093)
Performance Award Units
411,640 (1,735,180)(386,902)(1,710,442)
Total
1,010,496 (4,198,878)(945,373)(4,133,756)
2021
Stock Options
904,905 1,796,558 22,234 2,723,696 
Restricted Stock Units
1,897,216 490,667 6,844 2,394,727 
Performance Award Units
1,413,054 1,749,257 9,993 3,172,304 
Total
4,215,175 4,036,482 39,071 8,290,727 
2020
Stock Options
605,548 908,841 240,880 1,755,269 
Restricted Stock Units
573,225 278,702 64,872 916,799 
Performance Award Units
1,010,271 784,446 96,105 1,890,822 
Total
2,189,044 1,971,988 401,857 4,562,890 
       
Compensation Actually Paid vs. Total Shareholder Return Compensation Actually Paid (CAP) versus Zoetis TSR
The graph below compares the Compensation Actually Paid (CAP) of the CEO and the Other NEOs, to Zoetis’ TSR for the five fiscal years beginning with 2020. As the graph shows, the CAP to the CEO and Other NEOs is directionally aligned with the Company’s TSR.
CAP vs. TSR: Zoetis
5497558153044
n
CEO Cap
n
Other NEO Avg. CAP
02_439034-3_icon_legends_charts_line3.jpg 
Zoetis TSR
       
Compensation Actually Paid vs. Net Income CAP versus Net Income
The graph below compares the CAP of the CEO and the Other NEOs, to Zoetis’ net income for the five fiscal years beginning with 2020. Net Income has steadily increased while the CEO and Other NEOs CAP has varied by year. Zoetis does not use net income as a metric in its compensation incentives.
CAP vs. Net Income
($ in millions)
5497558153123
n
CEO Cap
n
Other NEO Avg. CAP
02_439034-3_icon_legends_charts_line3.jpg 
Net Income
       
Compensation Actually Paid vs. Company Selected Measure CAP versus Revenue (Company Selected Measure)
The graph below compares the CAP of the CEO and the Other NEOs, to Zoetis’ revenue for the five fiscal years beginning with 2020. Revenue has steadily increased while the CEO and Other NEOs’ CAP has varied by year. While revenue is a metric in Zoetis’ AIP, the weight of equity-based LTI — which primarily reflect stock price and relative TSR — exceeds the weight of our annual incentive in the total compensation for executives.
CAP vs. Revenue (CSM)
($ in millions)
5497558153271
n
CEO Cap
n
Other NEO Avg. CAP
02_439034-3_icon_legends_charts_line3.jpg 
Revenue
       
Total Shareholder Return Vs Peer Group Total Shareholder Return (TSR): Zoetis versus S&P 500 Pharmaceuticals Index
The graph below compares an initial investment in our common stock of $100 on December 31, 2019, versus the same investment in the S&P 500 Pharmaceuticals Index (assuming dividends, if any, were reinvested). It should be noted that the companies in the S&P 500 Pharmaceuticals index are not the same as those used for our compensation benchmarking, nor are they the same as the S&P 500, which is the group of companies we use to determine Relative TSR for the company’s performance award unit metric, as described in the CD&A.
TSR: Zoetis vs. S&P 500 Pharmaceuticals Index
5497558152768
02_439034-3_icon_legends_charts_line2.jpg 
Zoetis TSR
02_439034-3_icon_legends_charts_line1.jpg 
S&P 500 Pharmaceuticals TSR
       
Tabular List, Table
Most Important Performance Measures
Relative Total Shareholder Return(a)
Revenue(b)
Adjusted Diluted EPS(b)
Free Cash Flow(b)
       
Total Shareholder Return Amount $ 127.80 153.30 112.80 186.46 125.76
Peer Group Total Shareholder Return Amount 159.21 147.14 146.65 135.22 107.52
Net Income (Loss) $ 2,486,000,000 $ 2,344,000,000 $ 2,114,000,000 $ 2,037,000,000 $ 1,638,000,000
Company Selected Measure Amount 9,256,000,000 8,544,000,000 8,080,000,000 7,776,000,000 6,675,000,000
PEO Name Kristin C. Peck        
Additional 402(v) Disclosure
The four items listed below represent the most important metrics we used to determine CAP for 2024 as further described in our CD&A within the sections titled “Annual Incentive Plan” and “Long-Term Incentives”:
Relative Total Shareholder Return is the 3-year performance metric used for Zoetis’ performance award units, which comprise 50% of the long-term incentive compensation of our NEOs, including the CEO. Total Shareholder Return (TSR) is the appreciation of share price, including dividends, during the performance period. Relative TSR is Zoetis’ TSR as compared to the TSR over the performance period of the “S&P 500 Group”, which we define as the companies comprising the S&P 500 stock market index as of the beginning of the performance period, excluding companies that during the performance period are acquired or no longer publicly traded.
(b)Revenue, Adjusted Diluted EPS and Free Cash Flow refer to the measures used to assess performance in determining the funding for our Annual Incentive Plan (AIP) and exclude the impacts of foreign exchange and certain other adjustments as described in the CD&A.
       
Measure:: 1          
Pay vs Performance Disclosure          
Name Relative Total Shareholder Return        
Measure:: 2          
Pay vs Performance Disclosure          
Name Revenue        
Measure:: 3          
Pay vs Performance Disclosure          
Name Adjusted Diluted EPS        
Measure:: 4          
Pay vs Performance Disclosure          
Name Free Cash Flow        
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (3,697,290) $ 22,831,203 $ (18,513,523) $ 29,660,955 $ 12,770,299
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,127,061 15,611,510 6,038,742 18,148,844 9,245,311
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (10,798,213) 6,484,369 (22,579,262) 11,454,083 2,882,015
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (26,138) 735,324 (1,973,002) 58,027 642,974
PEO | Aggregate Grant Date Fair Value Of Equity Award Amounts Reported In Summary Compensation Table, Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (9,562,347) (8,774,860) (8,399,841) (6,929,797) (5,684,840)
PEO | Aggregate Grant Date Fair Value Of Equity Award Amounts Reported In Summary Compensation Table, Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,187,500) (2,924,967) (2,799,966) (2,309,970) (1,894,975)
PEO | Year-End Fair Value Of Equity Awards Granted In Covered Year That Are Outstanding And Unvested, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 1,599,375 3,971,133 1,528,648 5,709,571 2,309,500
PEO | Year-Over-Year Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (2,205,096) 1,923,431 (7,897,241) 5,052,274 1,341,931
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Equity Awards Vested In Covered Year, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (40,922) 372,068 (931,398) 33,020 385,408
PEO | Equity Awards Adjustments, Excluding Value Reported In The Compensation Table, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (646,643) 6,266,632 (7,299,991) 10,794,866 4,036,839
PEO | Year-End Fair Value Of Equity Awards Granted In Covered Year That Are Outstanding And Unvested, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 2,668,416 3,585,639 2,049,978 3,523,058 2,186,374
PEO | Year-Over-Year Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (867,090) 1,500,387 (2,672,369) 1,469,682 411,103
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Equity Awards Vested In Covered Year, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 5,906 162,461 (234,149) 10,165 103,798
PEO | Equity Awards Adjustments, Excluding Value Reported In The Compensation Table, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 1,807,232 5,248,488 (856,541) 5,002,905 2,701,275
PEO | Year-End Fair Value Of Equity Awards Granted In Covered Year That Are Outstanding And Unvested, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 2,859,270 8,054,738 2,460,116 8,916,215 4,749,437
PEO | Year-Over-Year Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (7,726,027) 3,060,551 (12,009,652) 4,932,126 1,128,981
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Equity Awards Vested In Covered Year, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 8,878 200,795 (807,455) 14,842 153,769
PEO | Equity Awards Adjustments, Excluding Value Reported In The Compensation Table, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (4,857,879) 11,316,083 (10,356,991) 13,863,183 6,032,186
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (606,795) 3,249,671 (4,133,756) 8,290,727 4,562,890
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 806,064 2,204,652 1,010,496 4,215,175 2,189,044
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,303,802) 963,777 (4,198,878) 4,036,482 1,971,988
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (109,057) 81,242 (945,373) 39,071 401,857
Non-PEO NEO | Aggregate Grant Date Fair Value Of Equity Award Amounts Reported In Summary Compensation Table, Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,236,913) (1,239,133) (1,405,542) (2,118,241) (1,302,977)
Non-PEO NEO | Aggregate Grant Date Fair Value Of Equity Award Amounts Reported In Summary Compensation Table, Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (412,369) (413,112) (468,570) (366,105) (496,860)
Non-PEO NEO | Year-End Fair Value Of Equity Awards Granted In Covered Year That Are Outstanding And Unvested, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 177,330 560,869 255,817 904,905 605,548
Non-PEO NEO | Year-Over-Year Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (251,572) 169,611 (1,352,757) 1,796,558 908,841
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Equity Awards Vested In Covered Year, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (2,688) 46,139 (446,281) 22,234 240,880
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported In The Compensation Table, Stock Options [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (76,930) 776,619 (1,543,221) 2,723,696 1,755,269
Non-PEO NEO | Year-End Fair Value Of Equity Awards Granted In Covered Year That Are Outstanding And Unvested, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 303,934 506,345 343,039 1,897,216 573,225
Non-PEO NEO | Year-Over-Year Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (131,626) 509,551 (1,110,941) 490,667 278,702
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Equity Awards Vested In Covered Year, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (106,952) 20,141 (112,191) 6,844 64,872
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported In The Compensation Table, Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 65,356 1,036,037 (880,093) 2,394,727 916,799
Non-PEO NEO | Year-End Fair Value Of Equity Awards Granted In Covered Year That Are Outstanding And Unvested, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 324,800 1,137,439 411,640 1,413,054 1,010,271
Non-PEO NEO | Year-Over-Year Change In Fair Value Of Equity Awards Granted In Prior Years That Are Outstanding And Unvested, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards (920,604) 284,615 (1,735,180) 1,749,257 784,446
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Equity Awards Vested In Covered Year, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards 583 14,962 (386,902) 9,993 96,105
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported In The Compensation Table, Performance Award Units [Member]          
Pay vs Performance Disclosure          
Adjustment To Compensation Amount, Equity Awards $ (595,221) $ 1,437,015 $ (1,710,442) $ 3,172,304 $ 1,890,822