| Schedule of Change in Accounting Principle |
The following table presents a summary of the changes to the quarterly results: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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 | |
The following table presents a summary of the changes to total assets, liabilities and equity: | | | | | | | | | | | | | | | | | | | | | | (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 | |
The following table presents a summary of the changes to the results of the Condensed Consolidated Statement of Cash Flows: | | | | | | | | | | | | | | | | | | | | | | | 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) | |
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