← Zoetis Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $821.0m $864.0m $1.4b $1.5b $1.6b $2.0b $2.1b $2.3b $2.5b $2.7b
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $819.0m $862.0m $1.4b $1.5b $1.6b $2.0b $2.1b $2.3b $2.5b $2.7b
Net Income (Loss) Attributable to Noncontrolling Interest ($2.0m) ($2.0m) ($4.0m) $0 ($2.0m) ($3.0m) ($3.0m) ($4.0m) $10.0m $0
Depreciation, Depletion and Amortization $240.0m $242.0m $308.0m $412.0m $441.0m $448.0m $465.0m $491.0m $497.0m $487.0m
Depreciation $145.0m $142.0m $152.0m $175.0m $211.0m $244.0m $272.0m $306.0m $327.0m $330.0m
Amortization of Intangible Assets $95.0m $100.0m $157.0m $237.0m $230.0m $204.0m $193.0m $185.0m $170.0m $157.0m
Capitalized Computer Software, Amortization $19.0m $21.0m $23.0m $27.0m $46.0m $52.0m $69.0m $75.0m $61.0m $46.0m
Deferred Income Tax Expense (Benefit) ($55.0m) $127.0m ($112.0m) ($79.0m) ($62.0m) ($80.0m) ($286.0m) ($61.0m) ($338.0m) ($52.0m)
Share-based Payment Arrangement, Noncash Expense $37.0m $44.0m $53.0m $67.0m $59.0m $58.0m $62.0m $60.0m $74.0m $83.0m
Equity Method Investment, Other than Temporary Impairment — — — — $4.0m $0 $0 — — —
Gain (Loss) on Sale of Assets and Asset Impairment Charges $26.0m ($11.0m) $42.0m $20.0m $19.0m ($2.0m) $0 $118.0m ($23.0m) ($3.0m)
Impairment of Intangible Assets (Excluding Goodwill) $1.0m — — — $26.0m $27.0m $39.0m $35.0m $15.0m $5.0m
Gain (Loss) on Disposition of Assets $26.0m ($11.0m) $40.0m $20.0m $19.0m ($3.0m) $0 $0 — —
Gain (Loss) on Disposition of Business — — — — — — — $101.0m ($23.0m) ($3.0m)
Income Tax Expense (Benefit) $409.0m $663.0m $266.0m $301.0m $360.0m $454.0m $545.0m $596.0m $637.0m $687.0m
Operating Lease, Expense — — — $40.0m $46.0m $50.0m $51.0m $56.0m $59.0m $68.0m
Other Nonoperating Income (Expense) $10.0m $14.0m $15.0m $0 ($5.0m) ($4.0m) $14.0m ($1.0m) ($4.0m) ($6.0m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable ($15.0m) $50.0m $67.0m $69.0m ($74.0m) $155.0m $137.0m $102.0m $61.0m $236.0m
Increase (Decrease) in Inventories $101.0m ($19.0m) ($61.0m) $104.0m $346.0m $366.0m $486.0m $361.0m $40.0m $199.0m
Increase (Decrease) in Accounts Payable ($28.0m) ($10.0m) $37.0m ($10.0m) $147.0m ($17.0m) ($29.0m) $13.0m $31.0m $46.0m
Proceeds from Stock Options Exercised — $35.0m $36.0m $39.0m $57.0m $36.0m $15.0m $42.0m $20.0m $9.0m
Foreign Currency Transaction Gain (Loss), before Tax ($49.0m) ($29.0m) ($31.0m) ($16.0m) ($21.0m) ($27.0m) ($62.0m) ($47.0m) ($50.0m) ($45.0m)
Foreign Currency Transaction Gain (Loss), Realized $0 — — — — — — — — —
Gain (Loss) Related to Litigation Settlement ($14.0m) $8.0m $0 $0 — — — — — —
Goodwill $1.5b $1.5b $2.5b $2.6b $2.7b $2.7b $2.7b $2.8b $2.7b $2.8b
Inventory Write-down $105.0m $54.0m $54.0m $68.0m $105.0m $46.0m $76.0m $115.0m $97.0m $68.0m
Nonoperating Income (Expense) $2.0m ($6.0m) $83.0m $57.0m ($17.0m) ($48.0m) ($40.0m) $159.0m $19.0m $36.0m
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement $2.0m ($1.0m) $1.0m $0 $0 — — — ($1.0m) $0
Net Cash Provided by (Used in) Operating Activities $713.0m $1.3b $1.8b $1.8b $2.1b $2.2b $1.9b $2.4b $3.0b $2.9b
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $216.0m $224.0m $338.0m $460.0m $453.0m $477.0m $586.0m $732.0m $655.0m $621.0m
Payments to Acquire Businesses, Net of Cash Acquired $88.0m $82.0m $1.9b $0 $0 — — — — —
Payments to Acquire Investments — — — — — $12.0m $9.0m $4.0m $5.0m $7.0m
Payments for (Proceeds from) Other Investing Activities $0 $1.0m $7.0m $8.0m $0 $1.0m $0 ($2.0m) $3.0m ($1.0m)
Net Cash Provided by (Used in) Investing Activities ($214.0m) ($270.0m) ($2.3b) ($504.0m) ($572.0m) ($458.0m) ($883.0m) ($777.0m) ($315.0m) ($748.0m)
Cash flows from financing activities:
Repayments of Long-term Debt $400.0m $750.0m $0 $0 $500.0m $600.0m $0 $1.4b $0 $1.4b
Payments for Repurchase of Common Stock $300.0m $500.0m $698.0m $626.0m $250.0m $743.0m $1.6b $1.1b $1.9b $3.2b
Proceeds from (Payments to) Noncontrolling Interests — — — — $3.0m $0 $0 — — —
Dividends Payable, Current $52.0m $61.0m $79.0m $95.0m $119.0m $154.0m $174.0m $198.0m $224.0m $232.0m
Proceeds from (Payments for) Other Financing Activities $0 — — — — — — — — ($3.0m)
Net Cash Provided by (Used in) Financing Activities ($903.0m) ($251.0m) $533.0m ($951.0m) $123.0m ($1.9b) ($904.0m) ($3.1b) ($2.7b) ($1.9b)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — ($7.0m) ($12.0m) ($29.0m) ($7.0m) ($32.0m) $39.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — — $1.7b ($119.0m) $96.0m ($1.5b) ($54.0m) $325.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $1.6b $1.9b $3.6b $3.5b $3.6b $2.0b $2.0b $2.3b
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $165.0m $167.0m $190.0m $247.0m $257.0m $253.0m $242.0m $295.0m $274.0m $261.0m
Income Taxes Paid, Net $408.0m $455.0m $336.0m $418.0m $418.0m $548.0m $638.0m $754.0m $892.0m $715.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.