v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
 [2]
Assets    
Cash and cash equivalents [1] $ 1,476 $ 2,450
Short-term investments 200 0
Accounts receivable, less allowance for doubtful accounts of $14 in 2026 and $17 in 2025 1,571 1,409
Inventories 2,574 2,464
Other current assets 535 450
Total current assets 6,356 6,773
Property, plant and equipment, less accumulated depreciation of $3,066 in 2026 and $2,935 in 2025 3,756 3,693
Operating lease right-of-use assets 275 289
Goodwill 2,771 2,774
Identifiable intangible assets, less accumulated amortization 918 998
Noncurrent deferred tax assets 617 636
Other noncurrent assets 384 327
Total assets 15,077 15,490
Liabilities and Equity    
Accounts payable 452 445
Dividends payable 221 232
Accrued expenses 856 841
Accrued compensation and related items 269 401
Income taxes payable 138 145
Other current liabilities 125 109
Total current liabilities 2,061 2,173
Long-term debt, net of discount and issuance costs 9,048 9,042
Noncurrent deferred tax liabilities 122 137
Operating lease liabilities 190 197
Other taxes payable 288 276
Other noncurrent liabilities 220 250
Total liabilities 11,929 12,075
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; 414,154,046 and 424,927,535 shares outstanding at June 30, 2026, and December 31, 2025, respectively 5 5
Treasury stock, at cost, 87,737,197 and 76,963,708 shares of common stock at June 30, 2026 and December 31, 2025, respectively (11,845) (10,685)
Additional paid-in capital 1,131 1,101
Retained earnings 14,653 13,798
Accumulated other comprehensive loss (796) (804)
Total Zoetis Inc. equity 3,148 3,415
Equity attributable to noncontrolling interests 0 0
Total equity 3,148 3,415 [3]
Total liabilities and equity $ 15,077 $ 15,490
[1] As of June 30, 2026 and December 31, 2025, includes $3 million and $2 million of restricted cash, respectively.
[2] See Note 2. Basis of Presentation for further detail regarding the Fiscal Year Alignment.
[3] See Note 2. Basis of Presentation for further detail regarding the Fiscal Year Alignment.