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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents [1] $ 1,721 $ 1,987
Accounts receivable, less allowance for doubtful accounts of $19 in 2025 and $18 in 2024 1,361 1,316
Inventories 2,365 2,306
Other current assets 430 377
Total current assets 5,877 5,986
Property, plant and equipment, less accumulated depreciation of $2,697 in 2025 and $2,635 in 2024 3,441 3,391
Operating lease right-of-use assets 220 219
Goodwill 2,716 2,724
Identifiable intangible assets, less accumulated amortization 1,082 1,127
Noncurrent deferred tax assets 530 540
Other noncurrent assets 232 250
Total assets 14,098 14,237
Liabilities and Equity    
Current portion of long-term debt 1,350 1,350
Accounts payable 420 433
Dividends payable 224 224
Accrued expenses 772 746
Accrued compensation and related items 291 441
Income taxes payable 211 93
Other current liabilities 117 125
Total current liabilities 3,385 3,412
Long-term debt, net of discount and issuance costs 5,227 5,220
Noncurrent deferred tax liabilities 161 167
Operating lease liabilities 173 174
Other taxes payable 277 272
Other noncurrent liabilities 220 222
Total liabilities 9,443 9,467
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Common stock, $0.01 par value: 6,000,000,000 authorized; 501,891,243 and 501,891,243 shares issued; 446,040,205 and 448,743,073 shares outstanding at March 31, 2025, and December 31, 2024, respectively 5 5
Treasury stock, at cost, 55,851,038 and 53,418,170 shares of common stock at March 31, 2025 and December 31, 2024, respectively (7,888) (7,445)
Additional paid-in capital 1,180 1,182
Retained earnings 12,375 11,968
Accumulated other comprehensive loss (1,017) (940)
Total Zoetis Inc. equity 4,655 4,770
Equity attributable to noncontrolling interests 0 0
Total equity 4,655 4,770
Total liabilities and equity $ 14,098 $ 14,237
Common Stock, Shares Authorized 6,000,000,000 6,000,000,000
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
[1] As of March 31, 2025 and December 31, 2024, includes $1 million and $2 million of restricted cash, respectively.