The accompanying unaudited condensed consolidated financial statements were prepared following the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America (U.S. GAAP) can be condensed or omitted.

We are responsible for the unaudited condensed consolidated financial statements included in this Form 10-Q. The condensed consolidated financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of our financial position and operating results. The information included in this interim report should be read in conjunction with the financial statements and accompanying notes included in our 2025 Annual Report on Form 10-K.

Prior to fiscal 2026, our consolidated financial statements, which have a year-end of December 31, have reflected results of subsidiaries operating outside the U.S. on a one-month financial reporting lag with a year-end of November 30. Effective January 1, 2026, we eliminated the one-month financial reporting lag for our subsidiaries operating outside of the U.S. and adjusted their year-end to December 31 (the “Fiscal Year Alignment”). The elimination of this financial reporting lag represented a change in accounting principle which the company considers preferable because it provides investors with more timely access to financial information about these subsidiaries. This change in accounting principle was applied retrospectively to all periods prior to January 1, 2026. The condensed consolidated financial statements as of and for the three and six months ended June 30, 2025, the Condensed Consolidated Balance Sheet as of December 31, 2025 and the related Notes to Condensed Consolidated Financial Statements have been recast to reflect this change in accounting principle. In addition, we plan to recast the condensed consolidated financial statements as of and for the three and nine months ended September 30, 2025 and the consolidated financial statements as of and for the twelve months ended December 31, 2025 and 2024 when they are presented as comparatives in future financial statements.


	Three months ended June 30, 2025						Six months ended June 30, 2025
(MILLIONS OF DOLLARS, EXCEPT PER SHARE DATA)	As previously reported		Increase/ (decrease)		As recast		As previously reported		Increase/ (decrease)		As recast
Revenue	$	2,460	$	14	$	2,474	$	4,680	$	(8)	$	4,672
Income before provision for taxes on income	$	902	$	10	$	912	$	1,712	$	(27)	$	1,685
Provision for taxes on income	$	184	$	2	$	186	$	363	$	(6)	$	357
Net income attributable to Zoetis Inc.	$	718	$	8	$	726	$	1,349	$	(21)	$	1,328
Earnings per share - Basic	$	1.61	$	0.02	$	1.63	$	3.02	$	(0.04)	$	2.98
Earnings per share - Diluted	$	1.61	$	0.02	$	1.63	$	3.02	$	(0.05)	$	2.97


(MILLIONS OF DOLLARS)	As previously reported		Increase/ (decrease)		As recast
Total assets as of December 31, 2025	$	15,467	$	23	$	15,490
Total liabilities as of December 31, 2025	$	12,136	$	(61)	$	12,075
Total equity as of January 1, 2025	$	4,770	$	74	$	4,844
Total equity as of December 31, 2025	$	3,331	$	84	$	3,415


	Six months ended June 30, 2025
(MILLIONS OF DOLLARS)	As previously reported		Increase/ (decrease)		As recast
Net cash provided by operating activities	$	1,073	$	47	$	1,120
Net cash used in investing activities	$	(422)	$	7	$	(415)
Net cash used in financing activities	$	(1,241)	$	—	$	(1,241)