7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-10-01 2017-07-02 2017-04-02 2016-12-31 2016-10-02 2016-07-03 2016-04-03 2015-12-31 2015-09-27 2015-06-28 2015-03-29 2014-12-31 2014-09-28 2014-06-29 2014-03-30 2013-12-31 2013-09-29 2013-06-30 2013-03-31 
      
                                                       
      operating activities
                                                       
      net income before allocation to noncontrolling interests
    721,000,000 718,000,000 631,000,000 581,000,000 692,000,000 624,000,000 599,000,000 523,000,000 596,000,000 670,000,000 551,000,000 460,000,000 528,000,000 529,000,000 594,000,000 413,000,000 552,000,000 511,000,000 558,000,000 358,000,000 479,000,000   384,000,000 433,000,000 371,000,000 312,000,000 345,000,000 347,000,000 382,000,000 350,000,000 80,000,000 296,000,000 247,000,000 239,000,000 154,000,000 237,000,000 224,000,000 204,000,000 20,000,000 190,000,000 -36,000,000 165,000,000  167,000,000 139,000,000 155,000,000  131,000,000 128,000,000 140,000,000 
      adjustments to reconcile net income before noncontrolling interests to net cash from operating activities:
                                                       
      depreciation and amortization expense
    124,000,000 123,000,000 119,000,000 123,000,000 121,000,000 127,000,000 126,000,000 126,000,000 124,000,000 121,000,000 120,000,000 119,000,000 115,000,000 117,000,000 114,000,000 117,000,000 110,000,000 112,000,000 109,000,000 109,000,000 111,000,000 111,000,000 110,000,000 109,000,000 107,000,000 98,000,000 98,000,000 101,000,000 84,000,000 63,000,000 60,000,000 63,000,000 58,000,000 59,000,000 62,000,000 63,000,000 60,000,000 60,000,000 57,000,000 55,000,000 46,000,000 50,000,000 48,000,000  50,000,000 51,000,000 50,000,000  49,000,000 51,000,000 51,000,000 
      share-based compensation expense
    22,000,000 22,000,000 17,000,000 19,000,000 18,000,000 19,000,000 18,000,000 17,000,000 17,000,000 17,000,000 9,000,000 16,000,000 15,000,000 15,000,000 16,000,000 14,000,000 15,000,000 16,000,000 13,000,000 13,000,000 14,000,000 16,000,000 16,000,000 16,000,000 16,000,000 17,000,000 18,000,000 17,000,000 14,000,000 11,000,000 11,000,000 11,000,000 11,000,000 11,000,000 11,000,000 9,000,000 9,000,000 10,000,000 9,000,000 12,000,000 10,000,000 11,000,000 10,000,000  9,000,000 8,000,000 5,000,000  6,000,000 20,000,000 11,000,000 
      asset write-offs and asset impairments
    6,000,000 31,000,000 2,000,000 15,000,000 3,000,000 11,000,000 2,000,000 19,000,000 14,000,000 12,000,000 1,000,000 46,000,000 5,000,000 1,000,000 1,000,000 28,000,000 5,000,000 13,000,000 1,000,000 31,000,000 3,000,000   1,000,000 5,000,000 1,000,000 -3,000,000 5,000,000 2,000,000 2,000,000    3,000,000    12,000,000 10,000,000 37,000,000 1,000,000  7,000,000    1,000,000 3,000,000 
      net income on sale of business, excluding transaction costs
                                                      
      benefit from losses on inventory
    20,000,000 14,000,000 18,000,000 26,000,000 29,000,000 25,000,000 17,000,000 33,000,000 35,000,000 31,000,000 16,000,000 27,000,000 18,000,000 22,000,000 9,000,000 10,000,000 11,000,000 14,000,000 11,000,000 49,000,000 24,000,000 19,000,000 13,000,000 24,000,000 15,000,000 15,000,000 14,000,000 17,000,000 12,000,000 9,000,000 16,000,000 8,000,000 6,000,000 24,000,000 16,000,000 40,000,000 30,000,000 19,000,000 16,000,000             
      deferred taxes
    -16,000,000 -7,000,000 19,000,000 -152,000,000 -42,000,000 -101,000,000 -43,000,000 -21,000,000 -14,000,000 -34,000,000 8,000,000 -176,000,000 -34,000,000 -31,000,000 -45,000,000 41,000,000 -97,000,000 -11,000,000 -13,000,000 -22,000,000 -2,000,000 -29,000,000 -9,000,000  -8,000,000 -6,000,000 -16,000,000       -11,000,000 24,000,000            2,000,000    7,000,000 
      settlement of derivative contracts
                                                       
      other non-cash adjustments
    -4,000,000 -3,000,000 -2,000,000 -17,000,000 14,000,000 -3,000,000 -2,000,000 -5,000,000 -1,000,000 10,000,000 -10,000,000 9,000,000 4,000,000 -6,000,000 -3,000,000 3,000,000 4,000,000 2,000,000 7,000,000         1,000,000 3,000,000 -1,000,000   4,000,000 6,000,000 4,000,000 8,000,000 1,000,000 -1,000,000 2,000,000 6,000,000 3,000,000    3,000,000    1,000,000 
      other changes in assets and liabilities, net of acquisitions and divestitures:
                                                       
      accounts receivable
    10,000,000 -141,000,000 -53,000,000 73,000,000 -22,000,000 -100,000,000 -12,000,000 -48,000,000 62,000,000 -143,000,000 27,000,000 -17,000,000 62,000,000 -80,000,000 -102,000,000 -12,000,000 6,000,000 -41,000,000 -108,000,000 5,000,000 -2,000,000 -38,000,000 109,000,000  -47,000,000 -46,000,000 75,000,000    60,000,000     -29,000,000 -9,000,000 32,000,000 21,000,000             
      inventories
    -44,000,000 -83,000,000 -85,000,000 73,000,000 2,000,000 -17,000,000 -98,000,000 136,000,000 -73,000,000 -189,000,000 -235,000,000 -48,000,000 -126,000,000 -166,000,000 -146,000,000 -67,000,000 -93,000,000 -122,000,000 -84,000,000 -52,000,000 -61,000,000 -136,000,000 -97,000,000  -53,000,000 -67,000,000 17,000,000 32,000,000                        
      other assets
    -13,000,000 -112,000,000 -50,000,000 66,000,000 21,000,000 -26,000,000 -9,000,000 24,000,000 -37,000,000 -58,000,000 -24,000,000 55,000,000 14,000,000 -33,000,000 -1,000,000 -15,000,000 44,000,000 -60,000,000 24,000,000 82,000,000 -108,000,000 23,000,000 -65,000,000  -4,000,000 -59,000,000 24,000,000                         
      accounts payable
    -54,000,000 36,000,000 -12,000,000 26,000,000 -15,000,000 23,000,000 -3,000,000 22,000,000 -74,000,000 43,000,000 22,000,000 30,000,000 -53,000,000 25,000,000 -31,000,000 54,000,000 20,000,000 21,000,000 -112,000,000 98,000,000 12,000,000 72,000,000 -35,000,000  -6,000,000 57,000,000 -79,000,000             -13,000,000            
      other liabilities
    101,000,000 36,000,000 -140,000,000 78,000,000 124,000,000 37,000,000 -125,000,000 94,000,000 32,000,000 4,000,000 -63,000,000 47,000,000 -21,000,000 16,000,000 -222,000,000 165,000,000 41,000,000 93,000,000 -72,000,000 140,000,000 107,000,000 -28,000,000 -128,000,000 159,000,000 51,000,000 -16,000,000 -103,000,000                         
      other tax accounts
    54,000,000 -151,000,000 123,000,000 -7,000,000 20,000,000 -156,000,000 126,000,000 -26,000,000 42,000,000 -168,000,000 118,000,000 57,000,000 12,000,000 -88,000,000 117,000,000 -63,000,000 41,000,000 -71,000,000 68,000,000 -96,000,000 -22,000,000 48,000,000 87,000,000  27,000,000 -46,000,000 27,000,000 -27,000,000 6,000,000 -75,000,000 163,000,000 12,000,000 52,000,000 -13,000,000 34,000,000 -38,000,000 19,000,000 -75,000,000 114,000,000 -34,000,000 37,000,000           
      net cash from operating activities
    938,000,000 486,000,000 587,000,000 905,000,000 951,000,000 502,000,000 595,000,000 897,000,000 724,000,000 183,000,000 549,000,000 741,000,000 526,000,000 336,000,000 309,000,000 679,000,000 653,000,000 481,000,000 400,000,000 718,000,000 562,000,000 438,000,000 408,000,000 582,000,000 506,000,000 318,000,000 389,000,000 584,000,000 550,000,000 267,000,000 389,000,000 608,000,000 439,000,000 180,000,000 119,000,000 286,000,000 239,000,000 137,000,000 51,000,000 278,000,000 204,000,000    103,000,000    114,000,000   
      investing activities
                                                       
      capital expenditures
    -133,000,000 -178,000,000 -149,000,000 -216,000,000 -167,000,000 -132,000,000 -140,000,000 -198,000,000 -145,000,000 -166,000,000 -223,000,000 -171,000,000 -154,000,000 -146,000,000 -115,000,000 -168,000,000 -119,000,000 -113,000,000 -77,000,000 -152,000,000 -117,000,000 -90,000,000 -94,000,000  -303,000,000 4,000,000 5,000,000                         
      free cash flows
    805,000,000 308,000,000 438,000,000 689,000,000 784,000,000 370,000,000 455,000,000 699,000,000 579,000,000 17,000,000 326,000,000 570,000,000 372,000,000 190,000,000 194,000,000 511,000,000 534,000,000 368,000,000 323,000,000 566,000,000 445,000,000 348,000,000 314,000,000  203,000,000 322,000,000 394,000,000                         
      acquisitions, net of cash acquired
                                                  
      purchase of investments
    -3,000,000 -3,000,000 -1,000,000 -1,000,000 -2,000,000 -1,000,000 -1,000,000 -1,000,000 -1,000,000 -1,000,000 -1,000,000 -1,000,000 -2,000,000 -5,000,000 -2,000,000                                    
      (payments of)/proceeds from derivative instrument activity
    -29,000,000 -52,000,000 -24,000,000                                                 
      proceeds from sale of business, net of cash sold and working capital adjustments
                                                      
      net proceeds from sale of assets
       1,000,000 1,000,000 1,000,000 2,000,000     1,000,000    -2,000,000 3,000,000 20,000,000                             
      other investing activities
    4,000,000 -3,000,000 1,000,000 -1,000,000 -1,000,000 -1,000,000 -1,000,000           3,000,000 -1,000,000 -1,000,000  -14,000,000 4,000,000 4,000,000      -1,000,000                   
      net cash from investing activities
    -160,000,000 -247,000,000 -175,000,000 126,000,000 -178,000,000 -132,000,000 -131,000,000 -210,000,000 -271,000,000 -80,000,000 -216,000,000 -438,000,000 -124,000,000 -203,000,000 -118,000,000 -142,000,000 -114,000,000 -139,000,000 -63,000,000 -177,000,000 -174,000,000 -164,000,000 -57,000,000  -209,000,000 -59,000,000 -23,000,000            18,000,000             
      financing activities
                                                       
      decrease in short-term borrowings
                           -9,000,000                         
      proceeds from issuance of long-term debt—senior notes, net of discount
                                                      
      principal payments on long-term debt
           -1,350,000,000                                        
      payment of debt issuance costs
                                                     
      payment of consideration related to previous acquisitions
                -1,000,000                                   
      share-based compensation-related proceeds, net of taxes paid on withholding shares
    -3,000,000 -9,000,000 2,000,000 2,000,000 -4,000,000 -8,000,000 9,000,000 10,000,000 4,000,000 4,000,000 -8,000,000 -30,000,000 2,000,000 2,000,000 -39,000,000  2,000,000 4,000,000 17,000,000  -3,000,000 2,000,000 3,000,000  8,000,000 4,000,000 2,000,000  2,000,000 12,000,000 6,000,000                 
      purchases of treasury stock, including excise taxes paid
    -394,000,000 -338,000,000 -443,000,000 -553,000,000                                                
      cash dividends paid
    -222,000,000 -223,000,000 -224,000,000 -194,000,000 -197,000,000 -197,000,000 -198,000,000 -172,000,000 -173,000,000 -173,000,000 -174,000,000 -151,000,000 -153,000,000 -153,000,000 -154,000,000 -117,000,000 -119,000,000 -119,000,000 -119,000,000 -95,000,000 -95,000,000 -95,000,000 -95,000,000  -78,000,000 -78,000,000 -79,000,000                         
      other financing activities
    -2,000,000 -1,000,000                                                 
      net cash from financing activities
    -134,000,000 -564,000,000 -677,000,000 -745,000,000 -628,000,000 -763,000,000 -524,000,000 -397,000,000 -416,000,000 -494,000,000 -1,802,000,000  -529,000,000 -610,000,000 -545,000,000    -339,000,000    -328,000,000   -226,000,000 -243,000,000                         
      effect of exchange-rate changes on cash and cash equivalents
    5,000,000 39,000,000 -1,000,000 -13,000,000 -5,000,000 -8,000,000 -6,000,000 -3,000,000 -1,000,000 -3,000,000 -9,000,000 -18,000,000 -6,000,000 4,000,000     6,000,000 6,000,000 -13,000,000 -6,000,000  -5,000,000 -6,000,000 3,000,000    8,000,000 -4,000,000 9,000,000 7,000,000                 
      net increase/(decrease) in cash and cash equivalents
                                  90,000,000 -417,000,000                    
      cash and cash equivalents at beginning of period
    1,987,000,000 2,041,000,000 3,581,000,000 3,485,000,000 3,604,000,000 1,934,000,000 1,602,000,000 1,564,000,000 727,000,000 1,154,000,000 882,000,000  610,000,000  317,000,000 
      cash and cash equivalents at end of period
    649,000,000 -286,000,000 1,721,000,000 273,000,000 140,000,000 -401,000,000 1,975,000,000 287,000,000 37,000,000 -392,000,000 2,109,000,000 1,074,000,000 -145,000,000 -483,000,000 3,135,000,000 211,000,000 -384,000,000 56,000,000 3,602,000,000 -50,000,000 301,000,000 1,402,000,000 1,951,000,000 119,000,000 60,000,000 27,000,000 1,728,000,000 316,000,000 -272,000,000 -96,000,000 1,654,000,000 -417,000,000 1,276,000,000 76,000,000 629,000,000 76,000,000 -7,000,000 -17,000,000 675,000,000 562,000,000 48,000,000 -15,000,000 559,000,000  20,000,000 72,000,000 506,000,000  20,000,000 -99,000,000 468,000,000 
      supplemental cash flow information
                                                       
      cash paid during the period for:
                                                       
      income taxes
    107,000,000 428,000,000 47,000,000  176,000,000 422,000,000 59,000,000  128,000,000 438,000,000 20,000,000  155,000,000 290,000,000 26,000,000  97,000,000 283,000,000 32,000,000  214,000,000 69,000,000 22,000,000  81,000,000 183,000,000 29,000,000  69,000,000 179,000,000 42,000,000  110,000,000 219,000,000 37,000,000  80,000,000 166,000,000 49,000,000  54,000,000 69,000,000 52,000,000  123,000,000 74,000,000 13,000,000  51,000,000 17,000,000 9,000,000 
      interest, net of capitalized interest
    88,000,000 69,000,000 68,000,000  67,000,000 70,000,000 68,000,000  67,000,000 69,000,000 89,000,000  88,000,000 32,000,000 89,000,000  94,000,000 33,000,000 94,000,000  94,000,000 28,000,000 95,000,000  97,000,000 27,000,000 96,000,000  70,000,000 26,000,000 70,000,000  56,000,000 26,000,000 56,000,000  56,000,000 26,000,000 58,000,000  58,000,000 1,000,000 58,000,000  60,000,000 -2,000,000 59,000,000     
      amounts included in the measurement of lease liabilities:
                                                       
      operating cash flows - operating leases
    22,000,000 18,000,000 16,000,000  16,000,000 15,000,000 15,000,000                                             
      financing cash flows - finance leases
    2,000,000                                                
      non-cash transactions:
                                                       
      excise tax accrued on net share repurchases, not paid
    4,000,000 3,000,000 4,000,000  4,000,000 5,000,000 3,000,000  2,000,000 3,000,000 2,000,000                                         
      lease obligations obtained in exchange for right-of-use assets - operating
    3,000,000 51,000,000 7,000,000  13,000,000 18,000,000 8,000,000                                             
      lease obligations obtained in exchange for right-of-use assets - finance
    1,000,000                                                 
      net decrease in cash and cash equivalents
     -286,000,000 -266,000,000  140,000,000 -401,000,000 -66,000,000  37,000,000 -392,000,000 -1,472,000,000    -350,000,000                                     
      dividends declared, not paid
     -2,000,000 224,000,000   -1,000,000 198,000,000   -1,000,000 174,000,000   153,000,000   119,000,000   95,000,000   -1,000,000 79,000,000   61,000,000   52,000,000   -2,000,000 49,000,000    42,000,000    36,000,000  33,000,000 
      increase in short-term borrowings
          21,000,000    1,000,000                                    1,000,000  -1,000,000 6,000,000 6,000,000 
      net income/(gain) on sale of businesses, excluding transaction costs
                                                       
      employee benefit plan contribution from pfizer inc.
               1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000  1,000,000       
      proceeds from derivative instrument activity
       51,000,000 -10,000,000 11,000,000 10,000,000                                             
      proceeds from sale of businesses, net of cash sold
                                                       
      (decrease)/increase in short-term borrowings
                                                       
      net (decrease)/increase in cash and cash equivalents
                   211,000,000   -2,000,000                                 
      loss on assets held for sale
                                                      
      net gain on sale of businesses, excluding transaction costs
                                                       
      purchases of treasury stock
         -533,000,000 -339,000,000 -235,000,000 -250,000,000 -324,000,000 -283,000,000 -405,000,000 -377,000,000 -451,000,000 -361,000,000 -198,000,000 -198,000,000 -166,000,000 -181,000,000 -250,000,000  -150,000,000 -150,000,000 -150,000,000                         
      increase/(decrease) in short-term borrowings
               -1,000,000        3,000,000                               
      gain on sale of business, excluding transaction costs
                                                      
      acquisitions
            -148,000,000 -7,000,000  -3,000,000 -89,000,000 -4,000,000                                     
      proceeds on derivative instrument activity
            20,000,000 -10,000,000 13,000,000                                         
      proceeds from sale of business, net of cash sold
            3,000,000                                           
      amounts included in the measurement of lease liabilities
            14,000,000 14,000,000 14,000,000  12,000,000 12,000,000 13,000,000  11,000,000 12,000,000 11,000,000  11,000,000                               
      lease obligations obtained in exchange for right-of-use assets
            41,000,000 20,000,000 13,000,000  5,000,000 22,000,000 19,000,000  23,000,000 7,000,000  25,000,000                               
      net income/(gain) on sales of assets
                                                       
      proceeds from/(payments of) derivative instrument activity
                                                       
      acquisition of a noncontrolling interest, net of cash acquired
                                                     
      net cash (used in)/provided by financing activities
                   -314,000,000 -919,000,000                                   
      net income on sale of assets
                                                       
      settlement on swaps designated as net investment hedges
                 34,000,000 6,000,000  15,000,000 -15,000,000 17,000,000                                 
      loss on treasury locks
                                                     
      proceeds from maturities and redemptions of investments
                           12,000,000 13,000,000 40,000,000 36,000,000                         
      settlements on swaps designated as net investment hedges
                                                       
      net income/(gain) on sale of assets
                                                     
      net increase in cash and cash equivalents
                       -50,000,000 301,000,000 1,402,000,000 17,000,000   27,000,000 126,000,000                     221,000,000 20,000,000 -99,000,000 151,000,000 
      net gain on sale of assets
                        -1,000,000 -1,000,000 -17,000,000                             
      other acquisitions
                      -3,000,000 -5,000,000 -30,000,000 -72,000,000 -6,000,000                             
      net gain on sales of assets
                                                       
      other changes in assets and liabilities, net of acquisitions and divestitures
                                                       
      acquisition of abaxis, net of cash acquired
                                                       
      net proceeds on swaps designated as net investment hedges
                         -4,000,000 24,000,000                            
      proceeds from issuance of long-term debt—senior notes, net of discount and fees
                                                  1,000,000 2,624,000,000 
      payment of contingent consideration related to previously acquired assets
                            -1,000,000 -8,000,000                         
      share-based compensation-related proceeds, net of taxes paid on withholding shares and excess tax benefits
                                       1,000,000 7,000,000 14,000,000 3,000,000             
      net cash provided by/(used in) financing activities
                       -597,000,000 -93,000,000                               
      net income
                          423,000,000                             
      adjustments to reconcile net income to net cash from operating activities:
                                                       
      net (gain)/loss on sales of assets
                                                       
      net proceeds from sales of assets
                               48,000,000 8,000,000 36,000,000   1,000,000 1,000,000 13,000,000 75,000,000 1,000,000 1,000,000  1,000,000       
      acquisition of a noncontrolling interest
                                                       
      purchases of property, plant and equipment
                             -103,000,000 -63,000,000  2,000,000 1,000,000  3,000,000 -1,000,000 4,000,000  10,000,000 -3,000,000 9,000,000  -5,000,000 7,000,000 10,000,000         
      adjustments to reconcile net income before noncontrolling interests to net cash
                                                       
      provided by operating activities:
                                                       
      restructuring
                                 5,000,000 2,000,000 12,000,000                    
      issuance of commercial paper
                                                       
      contingent purchase price consideration
                                      2,000,000  2,000,000 27,000,000  22,000,000         
      loss/(gain) on sales of assets
                                                       
      foreign currency loss related to venezuela revaluation, excluding impact on cash
                                                       
      other changes in assets and liabilities, net of acquisitions and divestitures and transfers with pfizer inc.
                                                       
      cash paid to settle pharmaq debt
                                                       
      acquisition of noncontrolling interest
                                                       
      net cash provided by/(used in) in financing activities
                                                       
      gains on sales of assets
                                                       
      net cash (used in)/provided by investing activities
                                                       
      milestone payment related to previously acquired intangibles
                                                       
      other net financing activities with pfizer inc.
                                                       
      restructuring, net of payments
                                          2,000,000 -4,000,000 -18,000,000           
      acquisition of abbott animal health
                                                       
      acquisition of pharmaq, net of cash acquired
                                                       
      stock-based compensation-related proceeds and excess tax benefits
                                           7,000,000 2,000,000 1,000,000 1,000,000  1,000,000       
      consideration paid to pfizer inc. in connection with the separation
                                                       
      asset acquisition
                                                       
      intangible asset acquisition
                                                       
      adjustments to reconcile net income before noncontrolling interests to net cash provided by/(used in) operating activities:
                                                       
      net cash provided by/(used in) operating activities
                                              60,000,000        281,000,000 
      cash provided by/
                                                       
      zoetis inc. senior notes transferred to pfizer inc. in connection with the separation
                                                    992,000,000 
      cash proceeds from the sale of property, plant and equipment
                                                       
      interest
                                                       
      provided by/(used in) operating activities:
                                                       
      other changes in assets and liabilities, net of transfers with pfizer inc.
                                                      68,000,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.