ZTS Stock Cash Flow Statements

Zoetis Quarterly Cash Flow Statements Chart

Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Zoetis Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	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	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	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	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	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	0	1,000,000	0	-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	0	3,000,000
net income on sale of business, excluding transaction costs
benefit from losses on inventory	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	-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
other non-cash adjustments	-3,000,000	-2,000,000	-17,000,000	0	14,000,000	-3,000,000	-2,000,000	0	-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	-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	-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	-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	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	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	-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	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	-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	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			0	0											0	0
purchase of investments	0	-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	-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			0	0	0	1,000,000	0	1,000,000	1,000,000	2,000,000					1,000,000				0	-2,000,000	3,000,000	20,000,000
other investing activities	-3,000,000	1,000,000	-1,000,000	0	-1,000,000	-1,000,000	0	-1,000,000							0					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	-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				0																				0	0	-9,000,000
payment of consideration related to previous acquisitions			0	0			0								-1,000,000	0
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	0	0	-8,000,000	-30,000,000	2,000,000	2,000,000	0	-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	-338,000,000	-443,000,000	-553,000,000
cash dividends paid	-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	0	-1,000,000
net cash from financing activities	-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	39,000,000	-1,000,000	-13,000,000	-5,000,000	-8,000,000	-6,000,000	-3,000,000	0	-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	0	7,000,000
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
cash and cash equivalents at beginning of period	0	1,987,000,000	0	0	0	2,041,000,000	0	0	0	3,581,000,000	0	0	0	3,485,000,000	0	0	0	3,604,000,000	0	0	0	1,934,000,000	0	0	0	1,602,000,000	0	0	0	1,564,000,000	0	0	0	727,000,000	0	0	0	1,154,000,000	0	0	0	882,000,000		0	0	610,000,000		0	0	317,000,000
cash and cash equivalents at end of period	-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	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	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	18,000,000	16,000,000		16,000,000	15,000,000	15,000,000
financing cash flows - finance leases	0	2,000,000		0
non-cash transactions:
excise tax accrued on net share repurchases, not paid	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	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	0	1,000,000
dividends declared, not paid	-2,000,000	224,000,000			-1,000,000	198,000,000			-1,000,000	174,000,000			0	153,000,000			0	119,000,000			0	95,000,000			-1,000,000	79,000,000			0	61,000,000			0	52,000,000			-2,000,000	49,000,000				42,000,000				36,000,000		0	0	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
settlement of derivative contracts
employee benefit plan contribution from pfizer inc.											1,000,000	1,000,000	0	1,000,000	1,000,000	1,000,000	0	1,000,000	1,000,000	1,000,000	0	1,000,000	1,000,000	1,000,000	0	1,000,000	1,000,000	1,000,000	0	1,000,000	1,000,000	1,000,000	0	1,000,000	1,000,000	1,000,000	0	1,000,000	1,000,000	1,000,000	0	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
principal payments on long-term debt							0	0	0	-1,350,000,000					0
proceeds from issuance of long-term debt—senior notes, net of discount																				0
payment of debt issuance costs																			0	0
net (decrease)/increase in cash and cash equivalents															211,000,000			-2,000,000
loss on assets held for sale				0
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	0	0	0	-250,000,000		-150,000,000	-150,000,000	-150,000,000
increase/(decrease) in short-term borrowings											-1,000,000								3,000,000	0
gain on sale of business, excluding transaction costs								0
acquisitions								-148,000,000	0	-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	0	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																			0	0
net cash (used in)/provided by financing activities															-314,000,000	-919,000,000
net increase/(decrease) in cash and cash equivalents																														90,000,000	-417,000,000
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																			0	0
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																0																0
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	0
proceeds from issuance of long-term debt—senior notes, net of discount and fees																											0				0																	1,000,000	0	2,624,000,000
payment of contingent consideration related to previously acquired assets																								-1,000,000	0	-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	0	0	8,000,000	36,000,000	0			1,000,000	1,000,000	13,000,000	75,000,000	0	0	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		0	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	0	27,000,000		0	0	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																																																0	0	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

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