Zoetis (ZTS) 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 02, 2019
Cover page.
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-35797
Entity Registrant Name	Zoetis Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-0696167
Entity Address, Address Line One	10 Sylvan Way,
Entity Address, City or Town	Parsippany,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07054
City Area Code	973
Local Phone Number	822-7000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ZTS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity common Stock, Shares Outstanding		24,333,301
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001555280
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue		$ 1,547	$ 1,415	$ 3,002	$ 2,781
Costs and expenses:
Cost of sales		465	447	983	894
Selling, general and administrative expenses		406	359	775	697
Research and development expenses		111	102	213	199
Amortization of intangible assets		39	23	77	46
Restructuring charges and certain acquisition-related costs		22	5	27	7
Interest expense, net of capitalized interest		55	46	111	93
Other (income)/deductions—net		(6)	(4)	(20)	(9)
Income before provision for taxes on income	[1]	455	437	836	854
Provision for taxes on income		84	55	153	122
Net income before allocation to noncontrolling interests		371	382	683	732
Less: Net loss attributable to noncontrolling interests		0	(2)	0	(4)
Net income attributable to Zoetis Inc.		$ 371	$ 384	$ 683	$ 736
Earnings per share attributable to Zoetis Inc. stockholders:
Basic (in dollars per share)		$ 0.77	$ 0.79	$ 1.43	$ 1.52
Diluted (in dollars per share)		$ 0.77	$ 0.79	$ 1.41	$ 1.51
Weighted-average common shares outstanding:
Basic (in shares)		478.8	483.8	479.2	484.8
Diluted (in shares)		482.3	487.5	482.7	488.6
Dividends paid per common share (in dollars per share)		$ 0.164	$ 0.126	$ 0.328	$ 0.252
[1]	Defined as income before provision for taxes on income.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income before allocation to noncontrolling interests	$ 371	$ 382	$ 683	$ 732
Other comprehensive income, net of taxes and reclassification adjustments:
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	1	0	1	0
Foreign currency translation adjustments, net	(72)	(115)	(41)	(38)
Total other comprehensive income, net of tax	(71)	(115)	(40)	(38)
Comprehensive income before allocation to noncontrolling interests	300	267	643	694
Less: Comprehensive loss attributable to noncontrolling interests	0	(3)	0	(4)
Comprehensive income attributable to Zoetis Inc.	$ 300	$ 270	$ 643	$ 698

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions		Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	[1]	$ 1,755	$ 1,602
Restricted cash		4	5
Short term investments		25	99
Accounts receivable, less allowance for doubtful accounts of $26 in 2019 and $24 in 2018		994	1,036
Inventories		1,404	1,391
Other current assets		306	271
Total current assets		4,484	4,399
Property, plant and equipment, less accumulated depreciation of $1,685 in 2019 and $1,599 in 2018		1,739	1,658
Operating lease right of use assets		195
Goodwill		2,505	2,519
Identifiable intangible assets, less accumulated amortization		1,916	2,046
Noncurrent deferred tax assets		60	61
Other noncurrent assets		87	94
Total assets		10,986	10,777
Liabilities and Equity
Short-term borrowings		0	9
Accounts payable		290	313
Dividends payable		78	79
Accrued expenses		443	487
Accrued compensation and related items		178	266
Income taxes payable		31	35
Other current liabilities		55	34
Total current liabilities		1,075	1,223
Long-term debt, net of discount and issuance costs		6,446	6,443
Noncurrent deferred tax liabilities		446	474
Operating lease liabilities		169
Other taxes payable		251	265
Other noncurrent liabilities		188	187
Total liabilities		8,575	8,592
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value: 1,000,000,000 authorized, none issued		0	0
Common stock, $0.01 par value: 6,000,000,000 authorized; 501,891,243 and 501,891,243 shares issued; 477,821,280 and 479,562,326 shares outstanding at June 30, 2019, and December 31, 2018, respectively		5	5
Treasury stock, at cost, 24,069,963 and 22,328,917 shares of common stock at June 30, 2019, and December 31, 2018, respectively		(1,732)	(1,487)
Additional paid-in capital		1,019	1,026
Retained earnings		3,788	3,270
Accumulated other comprehensive loss		(669)	(629)
Total equity		2,411	2,185
Total liabilities and equity		$ 10,986	$ 10,777
[1]	As of June 30, 2019 , and December 31, 2018 , includes $4 million and $5 million , respectively, of restricted cash.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (PARENTHETICAL) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 26	$ 24
Accumulated depreciation	$ 1,685	$ 1,599
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000,000	1,000,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	6,000,000,000	6,000,000,000
Common stock issued, shares	501,891,243	501,891,243
Common stock, shares outstanding	477,821,280	479,562,326
Treasury stock, shares	24,069,963	22,328,917

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($) $ in Millions		Total		Common Stock	Treasury Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Equity Attributable to Noncontrolling Interests	Share Repurchase Program
Common Stock, Shares, Issued		501,890,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares		15,760,000
Beginning balance at Dec. 31, 2017		$ 1,786		$ 5	$ (852)		$ 1,013	$ 2,109	$ (505)	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income/(loss)		732						736		(4)
Other comprehensive loss		(38)							(38)
Share-based compensation awards	[1]	$ 28			42		(13)	(1)
Treasury stock acquired, shares		(4,950,000)									(1,110,000)	[1]
Treasury stock acquired	[2]	$ (405)			(405)
Employee benefit plan contribution from Pfizer Inc.		1					1
Dividends declared		(122)						(122)
Ending balance at Jun. 30, 2018		$ 1,982		5	(1,215)		1,001	2,722	(543)	12
Common Stock, Shares, Issued		501,890,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares		17,170,000
Beginning balance at Mar. 31, 2018		$ 1,975			(1,005)		990	2,399	(429)	15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income/(loss)		382						384		(2)
Other comprehensive loss		(115)							(114)	(1)
Stock-based compensation awards (in shares)	[1]										(120,000)
Share-based compensation awards	[1]	$ 16			5		11	0
Treasury stock acquired, shares		(2,550,000)
Treasury stock acquired	[2]	$ (215)			(215)
Employee benefit plan contribution from Pfizer Inc.							0
Dividends declared		(61)						(61)
Ending balance at Jun. 30, 2018		$ 1,982		5	(1,215)		1,001	2,722	(543)	12
Common Stock, Shares, Issued		501,890,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares		19,600,000
Common Stock, Shares, Issued		501,891,243
Treasury Stock, Shares		22,328,917
Beginning balance at Dec. 31, 2018		$ 2,185		5	(1,487)		1,026	3,270	(629)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income/(loss)		683						683		0
Other comprehensive loss		(40)							(40)	0
Share-based compensation awards	[1]	$ 39			55		(8)	(8)
Treasury stock acquired, shares		(3,120,000)									(1,380,000)	[1]
Treasury stock acquired	[2]	$ (300)			(300)
Employee benefit plan contribution from Pfizer Inc.		1					1
Dividends declared		(157)						(157)
Ending balance at Jun. 30, 2019		$ 2,411		5	(1,732)		1,019	3,788	(669)	0
Common Stock, Shares, Issued		501,890,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares		22,870,000
Beginning balance at Mar. 31, 2019		$ 2,317		5	(1,593)		1,008	3,495	(598)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income/(loss)		371						371		0
Other comprehensive loss		(71)							(71)
Share-based compensation awards		$ 22	[1]		11	[1]	11	0
Treasury stock acquired, shares		(1,440,000)									(240,000)	[1]
Treasury stock acquired		$ (150)	[2]		150
Dividends declared		(78)						78
Ending balance at Jun. 30, 2019		$ 2,411		$ 5	$ (1,732)		$ 1,019	$ 3,788	$ (669)	$ 0
Common Stock, Shares, Issued		501,891,243
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares		24,069,963
[1]
[2]	Represents contributed capital from Pfizer Inc. associated with service credit continuation for certain Zoetis Inc. employees in Pfizer Inc.'s U.S. qualified defined benefit and U.S. retiree medical plans.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) (PARENTHETICAL) - shares	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common stock, shares outstanding	477,821,280		479,562,326
Treasury stock, shares	24,069,963	22,870,000	22,328,917	19,600,000	17,170,000	15,760,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2019		Jun. 30, 2018
Operating Activities
Net income before allocation to noncontrolling interests		$ 683		$ 732
Adjustments to reconcile net income before noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization expense	[1],[2]	196		123
Share-based compensation expense		35		22
Asset write-offs and asset impairments		1		7
Provision for losses on inventory		29		25
Deferred taxes	[3]	(22)		(155)
Employee benefit plan contribution from Pfizer Inc.		1		1
Other non-cash adjustments		0		11
Other changes in assets and liabilities, net of acquisitions and divestitures
Accounts receivable		29		(9)
Inventories		(50)		(23)
Other assets		(35)		(63)
Accounts payable		(22)		(28)
Other liabilities		(119)		(75)
Other tax accounts, net	[3]	(19)		88
Net cash provided by operating activities		707		656
Investing Activities
Purchases of property, plant and equipment		(166)		(126)
Proceeds from maturities and redemptions of investments		76		0
Net proceeds from sales of assets		0		8
Other investing activities		8		(3)
Net cash used in investing activities		(82)		(121)
Financing Activities
Decrease in short-term borrowings, net		(9)		0
Payment of contingent consideration related to previously acquired assets		(8)		(12)
Share-based compensation-related proceeds, net of taxes paid on withholding shares		5		6
Purchases of treasury stock		(300)		(405)
Cash dividends paid		(157)		(122)
Net cash used in financing activities		(469)		(533)
Effect of exchange-rate changes on cash and cash equivalents		(3)		(8)
Net increase in cash and cash equivalents		153		(6)
Cash and cash equivalents at beginning of period		1,602	[4]	1,564
Cash and cash equivalents at end of period		1,755	[4]	1,558
Cash paid during the period for:
Income taxes		212		221
Interest, net of capitalized interest		123		96
Non-cash transactions:
Capital expenditures		9		3
Dividends declared, not paid		$ 78		$ 61
[1]	Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized.
[2]	Defined as income before provision for taxes on income.
[3]	eflects the reclassification of the one-time mandatory deemed repatriation tax from Noncurrent deferred tax liabilities to Income taxes payable and Other taxes payable to properly reflect the liability, which became a fixed obligation in 2018 payable over eight years.
[4]	As of June 30, 2019 , and December 31, 2018 , includes $4 million and $5 million , respectively, of restricted cash.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation 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. Balance sheet amounts and operating results for subsidiaries operating outside the United States are as of and for the six -month periods ended May 31, 2019 , and May 31, 2018 . Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. 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 2018

Organization

Organization	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	etis Inc. (including its subsidiaries, collectively, Zoetis, the company, we, us or our) is a global leader in the discovery, development, manufacture and commercialization of animal health medicines, vaccines and diagnostic products with a focus on both livestock and companion animals. We organize and operate our business in two geographic regions: the United States (U.S.) and International. We directly market our products in approximately 45 countries across North America, Europe, Africa, Asia, Australia and South America. Our products are sold in more than 100 countries, including developed markets and emerging markets. We have a diversified business, marketing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals); and within six

Accounting Standards

Accounting Standards	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Accounting Standards	n February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, Income Statement - Reporting Comprehensive Income , (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (ASU 2018-02), which permits companies to reclassify from accumulated other comprehensive income to retained earnings stranded tax effects resulting from the new federal corporate income tax rate. In the period of adoption, a company may choose to either apply the amendments retrospectively to each period in which the effect of the change in federal income tax rate is recognized or to apply the amendments in that reporting period. We adopted the new standard as of January 1, 2019, the required effective date. The company has elected to not reclassify the stranded income tax effects from accumulated other comprehensive income to retained earnings as the amount is insignificant. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes FASB Topic 840, Leases (Topic 840) which requires lessees to recognize most leases on the balance sheet with a corresponding right of use asset. Leases will be classified as financing or operating which will drive the expense recognition pattern. For lessees, the income statement presentation and expense recognition pattern for financing and operating leases is similar to the current model for capital and operating leases, respectively. Companies may elect to exclude short-term leases. The update also requires additional disclosures that will better enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We adopted the new standard as of January 1, 2019, the required effective date, using the effective date transition method. As permitted under the effective date transition method, financial information and disclosure for periods prior to the date of initial application will not be updated. An adjustment to opening retained earnings was not required in conjunction with our adoption. For additional information, see Note 10. Leases . We have elected not to reassess whether expired or existing contracts contain leases, nor did we reassess the classification of existing leases as of the adoption date. We did not use hindsight in our assessment of lease terms as of the effective date. Recently Issued Accounting Standards In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Topic 350-40), an accounting standards update which expands the scope of costs associated with cloud computing arrangements that must be capitalized. Under the new guidance, costs associated with implementing a cloud computing arrangement that is a service contract must be capitalized and expensed over the term of the hosting arrangement. We will adopt this guidance as of January 1, 2020, the required effective date, and are currently assessing the potential impact that the standard will have on our consolidated financial statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions and Divestitures	we completed the acquisition of Abaxis, Inc. (Abaxis), a California corporation and a leader in the development, manufacture and marketing of diagnostic instruments for veterinary point-of-care services. We acquired all of the outstanding common shares of Abaxis for $83.00 per share in cash resulting in Abaxis becoming our wholly owned subsidiary. The acquisition enhances our presence in animal health diagnostics. The acquisition date fair value of the consideration transferred was approximately $1,962 million , which consisted of the following: (MILLIONS OF DOLLARS) Amounts Cash paid to Abaxis' shareholders (a) $ 1,898 Cash paid for equity awards attributable to pre-merger services (b) 54 Fair value of Zoetis equity awards issued in exchange for outstanding Abaxis equity awards pertaining to pre-merger service (c) 10 Total consideration $ 1,962 (a) Represents cash paid for cancellation and conversion of each outstanding share of Abaxis' common stock at the acquisition date. (b) Represents cash paid for cancellation and settlement of restricted stock awards that fully vested in July 2018 as a result of service or pre-existing change-in-control provisions and termination provisions. Includes certain awards that were settled in cash during the first quarter of 2019. (c) Represents the fair value of replacement awards issued for Abaxis equity awards outstanding immediately before the acquisition and attributable to the service period prior to the acquisition. The previous Abaxis equity awards were converted into the Zoetis equity awards at an exchange ratio based on the closing prices of shares of Zoetis common stock and Abaxis common stock for ten full trading days before the closing of the acquisition. The acquisition has been accounted for as a business combination with the assets acquired and liabilities assumed measured at fair value as of the acquisition date, primarily using Level 3 inputs, except for investments in debt securities which were valued using Level 2 inputs. During the six months ended June 30, 2019 , the company recorded additional measurement period adjustments which were made to reflect the facts and circumstances in existence as of the acquisition date. These adjustments include a reduction to Identifiable intangible assets and Noncurrent deferred tax liabilities of $1 million each with a corresponding offset to goodwill. These measurement period adjustments were primarily attributable to changes in preliminary valuation assumptions, including market participant estimates of cash flows as well as other initial estimates and the finalization of legal entity fair values. The valuation was finalized during the second quarter of 2019. The final fair values allocated to Abaxis' assets and liabilities as of the acquisition date, are reflected in the table below. (MILLIONS OF DOLLARS) Amounts Cash and cash equivalents $ 64 Short term investments (a) 107 Accounts receivable (b) 30 Inventories (c) 79 Other current assets 6 Property, plant and equipment (d) 54 Identifiable intangible assets (e) 894 Other noncurrent assets 29 Accounts payable (21) Accrued compensation and related items (10) Other current liabilities (22) Other noncurrent liabilities (11) Noncurrent deferred tax liabilities (f) (214) Total net assets acquired 985 Goodwill (g) 977 Total consideration $ 1,962 (a) Short term investments include investments in debt securities that are classified as available-for-sale and measured at fair value. (b) The fair value approximates the gross contractual amount of accounts receivable. The contractual amount not expected to be collected is immaterial. (c) Acquired inventory is comprised of finished goods, work in process and raw materials. The fair value of finished goods was determined based on net realizable value adjusted for the costs of the selling effort, a reasonable profit allowance for the selling effort, and estimated holding costs. The fair value of work in process was determined based on net realizable value adjusted for costs to complete the manufacturing process, costs of the selling effort, a reasonable profit allowance for the remaining manufacturing and selling effort, and an estimate of holding costs. The fair value of raw materials was determined to approximate book value. (d) Property, plant and equipment is comprised of machinery and equipment, furniture and fixtures, computer equipment, leasehold improvements and construction in progress. The fair value was primarily determined using a reproduction/replacement cost approach which measures the value of an asset by estimating the cost to acquire or construct comparable assets adjusted for age and condition of the asset. (e) Identifiable intangible assets primarily consist of developed technology rights, customer relationships, and trademarks and tradenames. The fair value of identifiable intangible assets is determined using the income approach, which includes a forecast of expected future cash flows. For additional information regarding identifiable intangible assets, see Note 12. Goodwill and Other Intangible Assets . (f) The acquisition was structured as a stock purchase and therefore we assumed the historical tax basis of Abaxis' assets and liabilities. The deferred tax effects resulting from the acquisition include the expected federal, state, and foreign tax consequences associated with temporary differences between the fair values of the assets acquired and liabilities assumed and the respective tax basis. The components of the Abaxis net deferred tax liability are included within amounts reported in Note 8. Income Taxes . (g) Goodwill represents the excess of consideration transferred over the of fair values of the assets acquired and liabilities assumed. It is allocated to our existing reportable segments and is primarily attributable to the future potential of the technology platforms, as well as cost and revenue synergies including market share capture, elimination of cost redundancies and gain of cost efficiencies, and intangible assets such as assembled workforce which are not separately recognizable. The primary strategic purpose of the acquisition was to enhance the company’s existing product portfolio by strengthening Zoetis’ presence in veterinary diagnostics. The goodwill recorded is not deductible for tax purposes. The company incurred acquisition related costs of approximately $22 million and $27 million for the three and six months ended June 30, 2019 , respectively, which are included within Restructuring charges and certain acquisition-related costs on our condensed consolidated statements of income. Supplemental Pro Forma Information (Unaudited): The following table provides unaudited supplemental pro forma financial information as if the acquisition of Abaxis had occurred on January 1, 2017. Three Months Ended Six Months Ended (MILLIONS OF DOLLARS) June 30, 2018 Revenue $ 1,483 $ 2,916 Net income attributable to Zoetis Inc. 353 676 The supplemental pro forma financial information has been prepared using the acquisition method of accounting and is based on the historical financial information of Zoetis and Abaxis. The supplemental pro forma financial information does not necessarily represent what the combined company’s revenue or results of operations would have been had the acquisition been completed on January 1, 2017 , nor do they intend to be a projection of future operating results of the combined company. It also does not reflect any operating efficiencies or potential cost savings that might be achieved from synergies of combining Zoetis and Abaxis. The unaudited supplemental pro forma financial information reflects primarily the following pro forma adjustments: • Additional amortization expense of $31 million for the three months ended June 30, 2018 and $64 million for the six months ended June 30, 2018 , related to the fair value of identified intangible assets acquired. • Additional depreciation expense of $1 million for the three months ended June 30, 2018 and $2 million for the six months ended June 30, 2018 , related to the fair value adjustments to property, plant and equipment acquired. • Additional interest expense and amortization of debt issuance costs for the debt issuance to finance the acquisition, resulting in $14 million added for the three months ended June 30, 2018 and $29 million added for the six months ended June 30, 2018 . • Adjustment related to the post merger share-based compensation expense of the replacement awards is $2 million for the three months ended June 30, 2018 and $5 million for the six months ended June 30, 2018 . •

Revenue

Revenue	6 Months Ended
	Jun. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Revenue	e offer a diversified portfolio of products which allows us to capitalize on local and regional customer needs. Generally, our products are promoted to veterinarians and livestock producers by our sales organization which includes sales representatives and technical and veterinary operations specialists, and then sold directly by us or through distributors. The depth of our product portfolio enables us to address the varying needs of customers in different species and geographies. Many of our top selling product lines are distributed across both of our operating segments, leveraging our research and development (R&D) operations and manufacturing and supply chain network. Over the course of our history, we have focused on developing a diverse portfolio of animal health products, including medicines, vaccines and diagnostics, complemented by biodevices, genetic tests and a range of services. We refer to a single product in all brands, or its dosage forms for all species, as a product line. We have approximately 300 comprehensive product lines, including products for both livestock and companion animals across each of our major product categories. In the third quarter of 2018, the company modified the list of major product categories to include a category for animal health diagnostics, which was previously included within other non-pharmaceutical products. The prior period presentation has been revised to reflect the new product categories. Our major product categories are: • vaccines : biological preparations that help prevent diseases of the respiratory, gastrointestinal and reproductive tracts or induce a specific immune response; • other pharmaceutical products : allergy and dermatology, pain and sedation, antiemetic, reproductive, and oncology products; • anti-infectives : products that prevent, kill or slow the growth of bacteria, fungi or protozoa; • parasiticides : products that prevent or eliminate external and internal parasites such as fleas, ticks and worms; • medicated feed additives : products added to animal feed that provide medicines to livestock; and • animal health diagnostics : portable blood and urine analysis systems and point-of-care diagnostic products, including instruments and reagents, rapid immunoassay tests, reference laboratory kits and blood glucose monitors. Our remaining revenue is derived from other non-pharmaceutical product categories, such as nutritionals and agribusiness, as well as products and services in complementary areas, including biodevices and genetic tests. Our livestock products primarily help prevent or treat diseases and conditions to enable the cost-effective production of safe, high-quality animal protein. Human population growth and increasing standards of living are important long-term growth drivers for our livestock products in three major ways. First, population growth and increasing standards of living drive increased demand for improved nutrition, particularly animal protein. Second, population growth leads to increased natural resource constraints driving a need for enhanced productivity. Finally, as standards of living improve, there is increased focus on food quality and safety. Our companion animal products help extend and improve the quality of life for pets; increase convenience and compliance for pet owners; and help veterinarians improve the quality of their care and the efficiency of their businesses. Growth in the companion animal medicines, vaccines and diagnostics sector is driven by economic development, related increases in disposable income and increases in pet ownership and spending on pet care. Companion animals are also living longer, receiving increased medical treatment and benefiting from advances in animal health medicines and vaccines. The following tables present our revenue disaggregated by geographic area, species, and major product category. Revenue by geographic area Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 United States $ 780 $ 677 $ 1,498 $ 1,311 Australia 49 51 97 99 Brazil 74 68 134 138 Canada 54 56 95 96 China 56 60 116 124 France 27 30 59 63 Germany 39 38 76 76 Italy 28 26 56 53 Japan 41 39 78 80 Mexico 30 26 58 50 Spain 30 30 57 55 United Kingdom 42 36 99 88 Other developed markets 88 89 172 168 Other emerging markets 184 179 363 364 1,522 1,405 2,958 2,765 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781 Revenue by major species Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 U.S. Livestock $ 280 $ 271 $ 553 $ 563 Companion animal 500 406 945 748 780 677 1,498 1,311 International Livestock 444 463 878 941 Companion animal 298 265 582 513 742 728 1,460 1,454 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781 Revenue by species Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Livestock: Cattle $ 379 $ 396 $ 759 $ 812 Swine 158 165 307 340 Poultry 143 129 282 265 Fish 25 24 48 46 Other 19 20 35 41 724 734 1,431 1,504 Companion Animal: Dogs and Cats 754 630 1,442 1,179 Horses 44 41 85 82 798 671 1,527 1,261 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781 Revenue by major product category Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Vaccines $ 370 $ 371 $ 728 $ 727 Other pharmaceuticals 372 337 721 656 Anti-infectives 293 286 579 583 Parasiticides 266 245 497 436 Medicated feed additives 115 114 227 251 Animal health diagnostics 65 12 125 23 Other non-pharmaceuticals 41 40 81 89 1,522 1,405 2,958 2,765 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781 B. Revenue from Contracts with Customers Contract liabilities reflected within Other current liabilities as of December 31, 2018 and December 31, 2017, and subsequently recognized as revenue during the first six months of 2019 and 2018 were approximately $4 million and $2 million , respectively. Contract liabilities as of June 30, 2019 and December 31, 2018 were approximately $11 million and $9 million , respectively. Estimated future revenue expected to be generated from long-term contracts with unsatisfied performance obligations as of June 30, 2019

Restructuring Charges and Other

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives	connection with our cost-reduction/productivity initiatives, we typically incur costs and charges associated with site closings and other facility rationalization actions, workforce reductions and the expansion of shared services, including the development of global systems. In connection with our acquisition activity, we typically incur costs and charges associated with executing the transactions, integrating the acquired operations, which may include expenditures for consulting and the integration of systems and processes, product transfers and restructuring the consolidated company, which may include charges related to employees, assets and activities that will not continue in the consolidated company. All operating functions can be impacted by these actions, including sales and marketing, manufacturing and R&D, as well as functions such as business technology, shared services and corporate operations. During 2015, we launched a comprehensive operational efficiency program and a supply network strategy initiative. These initiatives focused on reducing complexity in our product portfolios, changing our selling approach in certain markets, reducing our presence in certain countries, and selling certain manufacturing sites over a long term period. As part of these initiatives, we reduced certain positions through divestitures, normal attrition and involuntary terminations. The components of costs incurred in connection with restructuring initiatives, acquisitions and cost-reduction/productivity initiatives are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Restructuring charges and certain acquisition-related costs: Integration costs (a) $ 8 $ — $ 9 $ 1 Restructuring charges (b)(c) : Employee termination costs 14 4 18 5 Exit costs — 1 — 1 Total Restructuring charges and certain acquisition-related costs $ 22 $ 5 $ 27 $ 7 (a) Integration costs represent external, incremental costs directly related to integrating acquired businesses and primarily include expenditures for consulting and the integration of systems and processes, as well as product transfer costs. (b) The restructuring charges for the three and six months ended June 30, 2019 primarily relate to the acquisition of Abaxis. The restructuring charges for the three and six months ended June 30, 2018 primarily relate to employee termination costs in Europe as a result of initiatives to better align our organizational structure and employee termination costs and exit costs as a result of our operational efficiency initiative and supply network strategy initiative. (c) The restructuring charges are associated with the following: • For the three months ended June 30, 2019 , Manufacturing/research/corporate of $14 million . • For the three months ended June 30, 2018 , International of $4 million and Manufacturing/research/corporate of $1 million . • For the six months ended June 30, 2019 , Manufacturing/research/corporate of $18 million . • For the six months ended June 30, 2018 , International of $4 million and Manufacturing/research/corporate of $2 million . The components of, and changes in, our restructuring accruals are as follows: (MILLIONS OF DOLLARS) Accrual (a) Balance, December 31, 2018 (b) $ 45 Provision 18 Utilization and other (c) (25 ) Balance, June 30, 2019 (b) $ 38 (a) Changes in our restructuring accrual represents employee termination costs. (b) At June 30, 2019 , and December 31, 2018 , included in Accrued expenses ( $12 million and $27 million , respectively) and Other noncurrent liabilities ( $26 million and $18 million , respectively). (c)

Other (Income)_Deductions - Net

Other (Income)/Deductions - Net	6 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Other (Income)/Deductions - Net	7. Other (Income)/Deductions—Net The components of Other (income)/deductions—net are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Royalty-related income $ (3 ) $ (6 ) $ (8 ) $ (13 ) Interest income (9 ) (8 ) (19 ) (14 ) Foreign currency loss (a) 7 9 7 17 Other, net (1 ) 1 — 1 Other (income)/deductions—net $ (6 ) $ (4 ) $ (20 ) $ (9 ) (a) Primarily driven by costs related to hedging and exposures to certain emerging market currencies.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	ffective tax rate was 18.3% for the six months ended June 30, 2019 , compared with 14.3% for the six months ended June 30, 2018 . The higher effective tax rate for the six months ended June 30, 2019 , was primarily attributable to: • a $35 million net discrete tax benefit recorded in the first half of 2018, associated with a measurement-period adjustment related to the provisional one-time mandatory deemed repatriation tax on the company's undistributed non-U.S. earnings pursuant to the Tax Act enacted on December 22, 2017; • the impact of the GILTI tax, a new provision of the Tax Act, which became effective for the company in the first quarter of 2019 ; • changes in the jurisdictional mix of earnings, which includes the impact of the location of earnings from operations and repatriation costs. The jurisdictional mix of earnings can vary as a result of repatriation decisions and operating fluctuations in the normal course of business and the impact of non-deductible items; and • a $4 million and $8 million discrete tax benefit recorded in the first half of 2019 and 2018 , respectively, related to a remeasurement of deferred taxes as a result of a change in non-U.S. statutory tax rates, partially offset by: • a $16 million net discrete tax benefit recorded in the first half of 2019 ; and • a $15 million and $8 million discrete tax benefit recorded in the first half of 2019 and 2018 , respectively, related to the excess tax benefits for share-based payments. B. Deferred Taxes As of June 30, 2019 , the total net deferred income tax liability of $386 million is included in Noncurrent deferred tax assets ( $60 million ) and Noncurrent deferred tax liabilities ( $446 million ). As of December 31, 2018 , the total net deferred income tax liability of $413 million is included in Noncurrent deferred tax assets ( $61 million ) and Noncurrent deferred tax liabilities ( $474 million ). C. Tax Contingencies As of June 30, 2019 , the tax liabilities associated with uncertain tax positions of $177 million (exclusive of interest and penalties related to uncertain tax positions of $11 million ) are included in Noncurrent deferred tax assets ( $3 million ) and Other taxes payable ( $174 million ). As of December 31, 2018 , the tax liabilities associated with uncertain tax positions of $185 million (exclusive of interest and penalties related to uncertain tax positions of $11 million ) are included in Noncurrent deferred tax assets ( $3 million ) and Other taxes payable ( $182 million ). Our tax liabilities for uncertain tax positions relate primarily to issues common among multinational corporations. Any settlements or statute of limitations expirations could result in a significant decrease in our uncertain tax positions. Substantially all of these unrecognized tax benefits, if recognized, would impact our effective income tax rate. We do not expect that within the next twelve months any of our uncertain tax positions could significantly decrease as a result of settlements with taxing authorities or the expiration of the statutes of limitations. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but our estimates of uncertain tax positions and potential tax benefits may not be representative of actual outcomes, and any variation from such estimates could materially affect our financial statements in the period of settlement or when the statutes of limitations expire, as we treat these events as discrete items in the period of resolution. Finalizing audits with the relevant taxing authorities can include formal administrative and legal proceedings, and, as a result, it is difficult to estimate the timing and range of possible changes related to our uncertain tax positions, and such changes could be significant.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Financial Instruments	redit Facilities In December 2016 , we entered into an amended and restated revolving credit agreement with a syndicate of banks providing for a multi-year $1.0 billion senior unsecured revolving credit facility (the credit facility). In December 2018, the maturity for the amended and restated revolving credit agreement was extended through December 2023. Subject to certain conditions, we have the right to increase the credit facility to up to $1.5 billion . The credit facility contains a financial covenant requiring us to not exceed a maximum total leverage ratio (the ratio of consolidated net debt as of the end of the period to consolidated Earnings Before Interest, Income Taxes, Depreciation and Amortization (EBITDA) for such period) of 3.50:1 . Upon entering into a material acquisition, the maximum total leverage ratio increases to 4.00:1 , and extends until the fourth full consecutive fiscal quarter ended immediately following the consummation of a material acquisition. The credit facility also contains a clause which adds back to Adjusted Consolidated EBITDA, any operational efficiency restructuring charge (defined as charges recorded by the company during the period commencing on October 1, 2016 and ending December 31, 2019, related to operational efficiency initiatives), provided that for any twelve-month period such charges added back to Adjusted Consolidated EBITDA shall not exceed $100 million in the aggregate. The credit facility also contains a financial covenant requiring that we maintain a minimum interest coverage ratio (the ratio of EBITDA at the end of the period to interest expense for such period) of 3.50:1 . In addition, the credit facility contains other customary covenants. We were in compliance with all financial covenants as of June 30, 2019 , and December 31, 2018 . There were no amounts drawn under the credit facility as of June 30, 2019 , or December 31, 2018 . We have additional lines of credit and other credit arrangements with a group of banks and other financial intermediaries for general corporate purposes. We maintain cash and cash equivalent balances in excess of our outstanding short-term borrowings. As of June 30, 2019 , we had access to $73 million of lines of credit which expire at various times through 2019 and are generally renewed annually. There were no borrowings outstanding related to these facilities as of June 30, 2019 and $9 million of borrowings outstanding related to these facilities as of December 31, 2018 . Commercial Paper Program In February 2013 , we entered into a commercial paper program with a capacity of up to $1.0 billion . As of June 30, 2019 , and December 31, 2018 , there was no commercial paper outstanding under this program. Senior Notes and Other Long-Term Debt On August 20, 2018, we issued $1.5 billion aggregate principal amount of our senior notes (2018 senior notes), with an original issue discount of $4 million . These notes are comprised of $300 million aggregate principal amount of floating rate senior notes due 2021 (the "2018 floating rate senior notes"), and $300 million aggregate principal amount of 3.250% senior notes due 2021, $500 million aggregate principal amount of 3.900% senior notes due 2028 and $400 million aggregate principal amount of 4.450% senior notes due 2048 (collectively, the "2018 fixed rate senior notes"). Net proceeds from this offering were partially used to pay down and terminate a revolving credit agreement and repay outstanding commercial paper, which were borrowed to finance a portion of the cash consideration for the acquisition of Abaxis (see Note 5. Acquisitions and Divestitures ). The remainder of the net proceeds will be used for general corporate purposes. On September 12, 2017, we issued $1.25 billion aggregate principal amount of our senior notes (2017 senior notes), with an original issue discount of $7 million . These notes are comprised of $750 million aggregate principal amount of 3.000% senior notes due 2027 and $500 million aggregate principal amount of 3.950% senior notes due 2047. Net proceeds from this offering were partially used in October 2017 to repay, prior to maturity, the aggregate principal amount of $750 million , and a make-whole amount and accrued interest of $4 million , of our 1.875% senior notes due 2018. The remainder of the net proceeds were used for general corporate purposes. On November 13, 2015, we issued $1.25 billion aggregate principal amount of our senior notes (2015 senior notes), with an original issue discount of $2 million . On January 28, 2013, we issued $3.65 billion aggregate principal amount of our senior notes (the 2013 senior notes offering) in a private placement, with an original issue discount of $10 million . The 2013, 2015, 2017 and 2018 senior notes are governed by an indenture and supplemental indenture (collectively, the indenture) between us and Deutsche Bank Trust Company Americas, as trustee. The indenture contains certain covenants, including limitations on our and certain of our subsidiaries' ability to incur liens or engage in sale-leaseback transactions. The indenture also contains restrictions on our ability to consolidate, merge or sell substantially all of our assets. In addition, the indenture contains other customary terms, including certain events of default, upon the occurrence of which the 2013, 2015, 2017 and 2018 senior notes may be declared immediately due and payable. Pursuant to the indenture, we are able to redeem the 2013, 2015 and 2017 senior notes and the 2018 fixed rate senior notes or any series, in whole or in part, at any time by paying a “make whole” premium, plus accrued and unpaid interest to, but excluding, the date of redemption. The 2018 floating rate senior notes are not redeemable at our option prior to their maturity date. Pursuant to our tax matters agreement with Pfizer, we will not be permitted to redeem the 2013 senior notes due 2023 pursuant to this optional redemption provision, except under limited circumstances. Upon the occurrence of a change of control of us and a downgrade of the 2013, 2015, 2017 and 2018 senior notes below an investment grade rating by each of Moody's Investors Service, Inc. and Standard & Poor's Ratings Services, we are, in certain circumstances, required to make an offer to repurchase all of the outstanding 2013, 2015, 2017 and 2018 senior notes at a price equal to 101% of the aggregate principal amount of the 2013, 2015, 2017 and 2018 senior notes together with accrued and unpaid interest to, but excluding, the date of repurchase. The components of our long-term debt are as follows: June 30, December 31, (MILLIONS OF DOLLARS) 2019 2018 3.450% 2015 senior notes due 2020 $ 500 $ 500 2018 floating rate (three-month USD LIBOR plus 0.44%) senior notes due 2021 300 300 3.250% 2018 senior notes due 2021 300 300 3.250% 2013 senior notes due 2023 1,350 1,350 4.500% 2015 senior notes due 2025 750 750 3.000% 2017 senior notes due 2027 750 750 3.900% 2018 senior notes due 2028 500 500 4.700% 2013 senior notes due 2043 1,150 1,150 3.950% 2017 senior notes due 2047 500 500 4.450% 2018 senior notes due 2048 400 400 6,500 6,500 Unamortized debt discount / debt issuance costs (54 ) (57 ) Long-term debt, net of discount and issuance costs $ 6,446 $ 6,443 The fair value of our long-term debt was $6,940 million and $6,474 million as of June 30, 2019 , and December 31, 2018 , respectively, and has been determined using a third-party matrix-pricing model that uses significant inputs derived from, or corroborated by, observable market data and Zoetis’ credit rating (Level 2 inputs). The principal amount of long-term debt outstanding, as of June 30, 2019 , matures in the following years: After (MILLIONS OF DOLLARS) 2020 2021 2022 2023 2023 Total Maturities $ 500 $ 600 $ — $ 1,350 $ 4,050 $ 6,500 Interest Expense Interest expense, net of capitalized interest, was $55 million and $111 million , for the three and six months ended June 30, 2019 , respectively and $46 million and $93 million for the three and six months ended June 30, 2018 , respectively. Capitalized interest expense was $6 million and $3 million for the three and six months ended June 30, 2019 , respectively and $2 million and $4 million for the three and six months ended June 30, 2018 , respectively. B. Investments As part of the acquisition of Abaxis, we acquired short and long-term investments in debt securities (see Note 5. Acquisitions and Divestitures ). These investments are classified as available-for-sale securities and, therefore, are measured at fair value at each reporting date. The changes in fair value are recognized in Accumulated other comprehensive income/(loss) . We utilized Level 2 inputs such as observable quoted prices for similar assets and liabilities in active markets and observable quoted prices for identical or similar assets in markets that are not very active. The investment securities portfolio consists of debt securities that are investment grade. Information on investments in the debt securities, including the contractual maturities, or as necessary, the estimated maturities, of the available-for-sale securities is as follows: Gross Unrealized As of June 30, 2019 As of December 31, 2018 (MILLIONS OF DOLLARS) Amortized Cost Gains Losses Fair Value Amortized Cost Gains Losses Fair Value Available-for-sale debt securities Municipal Bonds $ 1 $ — $ — $ 1 $ 1 $ — $ — $ 1 Corporate Bonds 24 — — 24 100 — — 100 Total debt securities $ 25 $ — $ — $ 25 $ 101 $ — $ — $ 101 Maturities by Period (a) As of June 30, 2019 As of December 31, 2018 (MILLIONS OF DOLLARS) Within 1 year Over 1 to 5 years Over 5 years Total Within 1 year Over 1 to 5 years Over 5 years Total Available-for-sale debt securities Municipal Bonds $ 1 $ — $ — $ 1 $ 1 $ — $ — $ 1 Corporate Bonds 24 — — 24 98 2 — 100 Total debt securities $ 25 $ — $ — $ 25 $ 99 $ 2 $ — $ 101 (a) Long term investments are included in Other noncurrent assets . C. Derivative Financial Instruments Foreign Exchange Risk A significant portion of our revenue, earnings and net investment in foreign affiliates is exposed to changes in foreign exchange rates. We seek to manage our foreign exchange risk, in part, through operational means, including managing same-currency revenue in relation to same-currency costs and same-currency assets in relation to same-currency liabilities. Depending on market conditions, foreign exchange risk is also managed through the use of various derivative financial instruments. These derivative financial instruments serve to manage the exposure of our net investment in certain foreign operations to changes in foreign exchange rates and protect net income against the impact of translation into U.S. dollars of certain foreign exchange-denominated transactions. All derivative financial instruments used to manage foreign currency risk are measured at fair value and are reported as assets or liabilities on the condensed consolidated balance sheet. The derivative financial instruments primarily offset exposures in the Australian dollar, British pound, Canadian dollar, Chinese yuan, euro, and Japanese yen. Changes in fair value are reported in earnings or in Accumulated other comprehensive income/(loss), depending on the nature and purpose of the financial instrument, as follows: • For foreign exchange contracts not designated as hedging instruments, we recognize the gains and losses on forward-exchange contracts that are used to offset the same foreign currency assets or liabilities immediately into earnings along with the earnings impact of the items they generally offset. These contracts essentially take the opposite currency position of that reflected in the month-end balance sheet to counterbalance the effect of any currency movement. The aggregate notional amount of foreign exchange derivative financial instruments offsetting foreign currency exposures was $1.2 billion and $1.3 billion , as of June 30, 2019 , and December 31, 2018 , respectively. The vast majority of the foreign exchange derivative financial instruments mature within 60 days and all mature within three years. • For cross-currency interest rate swaps, which are designated as a hedge against our net investment in foreign operations, changes in the fair value are recorded as a component of cumulative translation adjustment within Accumulated other comprehensive loss and reclassified into earnings when the foreign investment is sold or substantially liquidated. Gains and losses excluded from the assessment of hedge effectiveness are recognized in earnings ( Interest expense—net of capitalized interest) . The cash flows from these contracts are reflected within the investing section of our condensed consolidated statement of cash flows. The aggregate notional amount of cross-currency interest rate swap contracts was 507 million euro and 25 million swiss francs as of June 30, 2019 , and 400 million euro as of December 31, 2018 , with various terms of up to six years. Interest Rate Risk The company may use interest rate swap contracts on certain investing and borrowing transactions to manage its net exposure to interest rates and to reduce its overall cost of borrowing. In anticipation of issuing fixed-rate debt, we may use forward-starting interest rate swaps that are designated as cash flow hedges to hedge against changes in interest rates that could impact expected future issuances of debt. Unrealized gains or losses on the forward-starting interest rate swaps are reported in Accumulated other comprehensive loss and are recognized in earnings over the life of the future fixed-rate notes. When the company discontinues hedge accounting because it is no longer probable that an anticipated transaction will occur within the originally expected period of execution, or within an additional two-month period thereafter, changes to fair value accumulated in other comprehensive income are recognized immediately in earnings. There were no outstanding interest rate swap contracts as of June 30, 2019 and December 31, 2018 . Fair Value of Derivative Instruments The classification and fair values of derivative instruments are as follows: Fair Value of Derivatives June 30, December 31, (MILLIONS OF DOLLARS) Balance Sheet Location 2019 2018 Derivatives Not Designated as Hedging Instruments Foreign currency forward-exchange contracts Other current assets $ 9 $ 6 Foreign currency forward-exchange contracts Other current liabilities (6 ) (7 ) Total derivatives not designated as hedging instruments $ 3 $ (1 ) Derivatives Designated as Hedging Instruments: Cross-currency interest rate swap contracts Other current assets $ 3 $ 3 Cross-currency interest rate swap contracts Other current liabilities (2 ) — Cross-currency interest rate swap contracts Other non-current assets 14 8 Total derivatives designated as hedging instruments 15 11 Total derivatives $ 18 $ 10 The company’s cross-currency interest rate swaps are subject to master netting arrangements to mitigate credit risk by permitting net settlement of transactions with the same counterparty. We may also enter into collateral security arrangements with certain of our counterparties to exchange cash collateral when the net fair value of certain derivative instruments fluctuates from contractually established thresholds. At June 30, 2019 , there was $ 8 million of collateral received related to the long-term cross-currency interest rate swaps. We use a market approach in valuing financial instruments on a recurring basis. Our derivative financial instruments are measured at fair value on a recurring basis using Level 2 inputs in the calculation of fair value. The amounts of net gains on derivative instruments not designated as hedging instruments, recorded in Other (income)/deductions—net , are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Foreign currency forward-exchange contracts $ 8 $ 10 $ 4 $ — These amounts were substantially offset in Other (income)/deductions—net by the effect of changing exchange rates on the underlying foreign currency exposures. The amounts of unrecognized net gains on cross-currency interest rate swap contracts, recorded, net of tax, in Accumulated other comprehensive income/(loss) , are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Cross-currency interest rate swap contracts $ (4 ) $ 1 $ 14 $ 1 Gains on cross-currency interest rate swap contracts, recognized within Interest expense, net of capitalized interest, are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Cross-currency interest rate swap contracts $ 4 $ 1 $ 8 $ 1 The net amount of deferred gains related to derivative instruments designated as cash flow hedges that is expected to be reclassified from Accumulated other comprehensive loss into earnings over the next 12 months is insignificant.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	We have facilities, vehicles and equipment under various non-cancellable operating leases with third parties. These leases generally have remaining terms ranging from one to 15 years, inclusive of renewal options that are reasonably certain of exercise. Supplemental information for operating leases is as follows: (MILLIONS OF DOLLARS, EXCEPT LEASE TERM AND DISCOUNT RATE AMOUNTS) As of June 30, 2019 Supplemental Balance Sheet information for operating leases Operating lease right of use assets $ 195 Operating lease liabilities Operating lease liabilities - current $ 36 Operating lease liabilities - noncurrent 169 Total operating lease liabilities $ 205 Weighted-average remaining lease term—operating leases (years) 7.37 Weighted-average discount rate—operating leases 3.75 % Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 Supplemental Income Statement information for operating leases Operating lease expense $ 10 $ 19 Variable lease payments not included in the measurement of lease liabilities 4 8 Short-term lease payments not included in the measurement of lease liabilities 3 6 Supplemental Cash Flow information for operating leases Cash paid for amounts included in the measurement of lease liabilities $ 10 $ 19 Lease obligations obtained in exchange for right-of-use assets (non-cash) 47 223 Future minimum lease payments under non-cancellable operating lease contracts as of June 30, 2019 , are as follows: Total Less: After Lease Imputed (MILLIONS OF DOLLARS) 2019 (a) 2020 2021 2022 2023 2023 Payments Interest Total Maturities $ 22 $ 40 $ 34 $ 30 $ 25 $ 85 $ 236 $ (31 ) $ 205 (a) 2019 excludes the six months ended June 30, 2019 . Future minimum lease payments under non-cancellable operating lease contracts as of December 31, 2018 , in accordance with the superceded leasing standard, are as follows: After (MILLIONS OF DOLLARS) 2019 2020 2021 2022 2023 2023 Total Maturities $ 38 $ 30 $ 24 $ 21 $ 15 $ 45 $ 173 Total rent expense, net of sublease rental income, in accordance with the superceded leasing standard, was approximately $45 million in 2018 . Lease Accounting Policy Below are the significant accounting policies updated as of January 1, 2019, as a result of the adoption of the new lease accounting guidance. For additional information, see Note 3. Accounting Standards . We determine if a contract contains a lease at inception. Our current portfolio includes only operating leases which are recorded as a right of use asset, as of the lease commencement date, in an amount equal to the present value of future payments over the lease term. We have elected not to recognize right of use assets and lease liabilities for short-term leases of vehicles and equipment with a lease term of twelve months or less. Options to extend or terminate a lease are considered in the lease term to the extent that the option is reasonably certain of exercise. A corresponding lease liability is recorded within other current liabilities and operating lease liabilities . The present value of future payments is discounted using the rate implicit in the lease, when available. When the implicit rate is not available, as is frequently the case with our lease portfolio, the present value is calculated using our incremental borrowing rate, as determined as of the commencement date. The incremental borrowing rate represents the rate of interest that we would expect to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. As we do not borrow on a collateralized basis, our non-collateralized borrowing rate is used as an input in deriving the incremental borrowing rate. Fixed lease payments are recognized on straight-line basis over the lease term, while variable payments are recognized in the period incurred. Variable lease payments include real estate taxes and charges for other nonlease services due to lessors that are not dependent on an index or rate and utilization based charges associated with fleet vehicles.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	components of inventory are as follows: June 30, December 31, (MILLIONS OF DOLLARS) 2019 2018 Finished goods $ 684 $ 744 Work-in-process 527 481 Raw materials and supplies 193 166 Inventories $ 1,404 $ 1,391

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	e components of, and changes in, the carrying amount of goodwill are as follows: (MILLIONS OF DOLLARS) U.S. International Total Balance, December 31, 2018 $ 1,265 $ 1,254 $ 2,519 Other (a) — (14 ) (14 ) Balance, June 30, 2019 $ 1,265 $ 1,240 $ 2,505 (a) Includes measurement period adjustments related to the acquisition of Abaxis and adjustments for foreign currency translation. The gross goodwill balance was $3,041 million and $3,055 million as of June 30, 2019 , and December 31, 2018 , respectively. Accumulated goodwill impairment losses were $536 million as of June 30, 2019 , and December 31, 2018 . B. Other Intangible Assets The components of identifiable intangible assets are as follows: As of June 30, 2019 As of December 31, 2018 Identifiable Identifiable Gross Intangible Assets Gross Intangible Assets Carrying Accumulated Less Accumulated Carrying Accumulated Less Accumulated (MILLIONS OF DOLLARS) Amount Amortization Amortization Amount Amortization Amortization Finite-lived intangible assets: Developed technology rights (a) $ 1,887 $ (590 ) $ 1,297 $ 1,854 $ (523 ) $ 1,331 Brands 212 (160 ) 52 212 (154 ) 58 Trademarks and trade names (a) 166 (54 ) 112 166 (51 ) 115 Other 410 (213 ) 197 412 (178 ) 234 Total finite-lived intangible assets 2,675 (1,017 ) 1,658 2,644 (906 ) 1,738 Indefinite-lived intangible assets: In-process research and development 147 — 147 197 — 197 Brands 37 — 37 37 — 37 Trademarks and trade names 67 — 67 67 — 67 Product rights 7 — 7 7 — 7 Total indefinite-lived intangible assets 258 — 258 308 — 308 Identifiable intangible assets $ 2,933 $ (1,017 ) $ 1,916 $ 2,952 $ (906 ) $ 2,046 (a) In connection with the acquisition of Abaxis in 2018, the company recorded $894 million of intangible assets, as shown in the table below, representing the fair value at the acquisition date. See Note 5. Acquisitions and Divestitures for additional information. Gross Carrying Weighted-average (MILLIONS OF DOLLARS) Amount Life (years) Finite-lived intangible assets: Developed technology rights $ 610 10 Trademarks and tradenames 104 20 Other 180 4 Total $ 894 C. Amortization Amortization expense related to finite-lived acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets as it benefits multiple business functions. Amortization expense related to finite-lived acquired intangible assets that are associated with a single function is included in Cost of sales, Selling, general and administrative expenses or Research and development expenses , as appropriate. Total amortization expense for finite-lived intangible assets was $58 million and $116 million for the three and six months ended June 30, 2019 , respectively, and $26 million and $51 million for the three and six months ended June 30, 2018 , respectively.

Share-Based Payments

Share-Based Payments	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Payments	company may grant a variety of share-based payments under the Zoetis 2013 Equity and Incentive Plan (the Equity Plan) to our employees and non-employee directors. The principal types of share-based awards available under the Equity Plan may include, but are not limited to, stock options, restricted stock and restricted stock units (RSUs), deferred stock units (DSUs), performance-vesting restricted stock units (PSUs) and other equity-based or cash-based awards. The components of share-based compensation expense are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Stock options / stock appreciation rights $ 2 $ 3 $ 5 $ 5 RSUs / DSUs (a)(b) 12 6 24 13 PSUs 3 2 6 4 Share-based compensation expense—total (c) $ 17 $ 11 $ 35 $ 22 (a) For the three and six months ended June 30, 2019 , includes share-based compensation expense of $4 million and $9 million , respectively related to the acquisition of Abaxis, for the post-merger service period. For additional details, see Note 5. Acquisitions and Divestitures . (b) Includes additional share-based compensation expense as a result of accelerated vesting of outstanding RSUs of terminated employees in connection with the acquisition of Abaxis, for the three and six months ended June 30, 2019 , of approximately $2 million and $4 million , respectively, which is included in Restructuring charges and certain acquisition-related costs . (c) Amounts capitalized to inventory were $1 million for both the three and six months ended June 30, 2019 and insignificant for both the three and six months ended June 30, 2018 . During the six months ended June 30, 2019 , the company granted 444,789 stock options with a weighted-average exercise price of $87.77 per stock option and a weighted-average fair value of $21.82 per stock option. The fair-value based method for valuing each Zoetis stock option grant on the grant date uses the Black-Scholes-Merton option-pricing model, which incorporates a number of valuation assumptions. The weighted-average fair value was estimated based on the following assumptions: risk-free interest rate of 2.57% ; expected dividend yield of 0.75% ; expected stock price volatility of 23.08% ; and expected term of 5.7 years. In general, stock options vest after three years of continuous service and the values determined through this fair-value based method generally are amortized on a straight-line basis over the vesting term into Cost of sales, Selling, general and administrative expenses, or Research and development expenses, as appropriate. During the six months ended June 30, 2019 , the company granted 358,999 RSUs, with a weighted-average grant date fair value of $ 87.63 per RSU. RSUs are accounted for using a fair-value-based method that utilizes the closing price of Zoetis common stock on the date of grant. In general, RSUs vest after three years of continuous service from the grant date and the values generally are amortized on a straight-line basis over the vesting term into Cost of sales, Selling, general and administrative expenses, or Research and development expenses, as appropriate. During the six months ended June 30, 2019 , the company granted 190,170 PSUs with a weighted-average grant date fair value of $101.51 per PSU. PSUs are accounted for using a Monte Carlo simulation model. The units underlying the PSUs will be earned and vested over a three -year performance period, based upon the total shareholder return of the company in comparison to the total shareholder return of the companies comprising the S&P 500 stock market index at the start of the performance period, excluding companies that during the performance period are acquired or no longer publicly traded (Relative TSR). The weighted-average fair value was estimated based on volatility assumptions of Zoetis common stock and an average of the S&P 500 companies, which were 20.3% and 25.3% , respectively. Depending on the company’s Relative TSR performance at the end of the performance period, the recipient may earn from 0% to 200% of the target number of units. Vested units are settled in shares of the company’s common stock. PSU values are amortized on a straight-line basis over the vesting term into Cost of sales, Selling, general and administrative expenses, or Research and development expenses,

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	tis is authorized to issue 6 billion shares of common stock and 1 billion shares of preferred stock. In December 2016, the company's Board of Directors authorized a $1.5 billion share repurchase program. As of June 30, 2019 , there was approximately $1 million remaining under this authorization. In December 2018, the company's Board of Directors authorized an additional $2.0 billion share repurchase program, all of which is remaining under this authorization. Purchases of Zoetis shares may be made at the discretion of management, depending on market conditions and business needs. Accumulated other comprehensive income/(loss) Changes, net of tax, in accumulated other comprehensive loss, excluding noncontrolling interests, were as follows: Currency Translation Adjustments Accumulated Other Cash Flow Net Investment Other Currency Comprehensive (MILLIONS OF DOLLARS) Hedges Hedges Translation Adj Benefit Plans (Loss)/Income Balance, December 31, 2017 $ (3 ) $ — $ (487 ) $ (15 ) $ (505 ) Other comprehensive income, net of tax — — (38 ) — (38 ) Balance, June 30, 2018 $ (3 ) $ — $ (525 ) $ (15 ) $ (543 ) Balance, December 31, 2018 $ (4 ) $ 10 $ (621 ) $ (14 ) $ (629 ) Other comprehensive income, net of tax 1 4 (45 ) — (40 ) Balance, June 30, 2019 $ (3 ) $ 14 $ (666 ) $ (14 ) $ (669 )

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	following table presents the calculation of basic and diluted earnings per share: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS AND SHARES, EXCEPT PER SHARE DATA) 2019 2018 2019 2018 Numerator Net income before allocation to noncontrolling interests $ 371 $ 382 $ 683 $ 732 Less: Net loss attributable to noncontrolling interests — (2 ) — (4 ) Net income attributable to Zoetis Inc. $ 371 $ 384 $ 683 $ 736 Denominator Weighted-average common shares outstanding 478.8 483.8 479.2 484.8 Common stock equivalents: stock options, RSUs, PSUs and DSUs 3.5 3.7 3.5 3.8 Weighted-average common and potential dilutive shares outstanding 482.3 487.5 482.7 488.6 Earnings per share attributable to Zoetis Inc. stockholders—basic $ 0.77 $ 0.79 $ 1.43 $ 1.52 Earnings per share attributable to Zoetis Inc. stockholders—diluted $ 0.77 $ 0.79 $ 1.41 $ 1.51 The number of stock options outstanding under the company's Equity Plan that were excluded from the computation of diluted earnings per share, as the effect would have been antidilutive, were de minimis and $1 million for the three months ended June 30, 2019 and June 30, 2018 , respectively and de minimis for the six months ended June 30, 2019 and June 30, 2018 , respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	and certain of our subsidiaries are subject to numerous contingencies arising in the ordinary course of business. For a discussion of our tax contingencies, see Note 8. Income Taxes . A. Legal Proceedings Our non-tax contingencies include, among others, the following: • Product liability and other product-related litigation, which can include injury, consumer, off-label promotion, antitrust and breach of contract claims. • Commercial and other matters, which can include product-pricing claims and environmental claims and proceedings. • Patent litigation, which typically involves challenges to the coverage and/or validity of our patents or those of third parties on various products or processes. • Government investigations, which can involve regulation by national, state and local government agencies in the United States and in other countries. Certain of these contingencies could result in losses, including damages, fines and/or civil penalties, and/or criminal charges, which could be substantial. We believe that we have strong defenses in these types of matters, but litigation is inherently unpredictable and excessive verdicts do occur. We do not believe that any of these matters will have a material adverse effect on our financial position. However, we could incur judgments, enter into settlements or revise our expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on our results of operations or cash flows in the period in which the amounts are paid. We have accrued for losses that are both probable and reasonably estimable. Substantially all of these contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. Consequently, we are unable to estimate the range of reasonably possible loss in excess of amounts accrued. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but the assessment process relies on estimates and assumptions that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Amounts recorded for legal and environmental contingencies can result from a complex series of judgments about future events and uncertainties and can rely on estimates and assumptions. The principal matters to which we are a party are discussed below. In determining whether a pending matter is significant for financial reporting and disclosure purposes, we consider both quantitative and qualitative factors in order to assess materiality, such as, among other things, the amount of damages and the nature of any other relief sought in the proceeding, if such damages and other relief are specified; our view of the merits of the claims and of the strength of our defenses; whether the action purports to be a class action and our view of the likelihood that a class will be certified by the court; the jurisdiction in which the proceeding is pending; any experience that we or, to our knowledge, other companies have had in similar proceedings; whether disclosure of the action would be important to a reader of our financial statements, including whether disclosure might change a reader’s judgment about our financial statements in light of all of the information about the company that is available to the reader; the potential impact of the proceeding on our reputation; and the extent of public interest in the matter. In addition, with respect to patent matters, we consider, among other things, the financial significance of the product protected by the patent. Ulianopolis, Brazil In February 2012, the Municipality of Ulianopolis (State of Para, Brazil) filed a complaint against Fort Dodge Saúde Animal Ltda. (FDSAL), a Zoetis entity, and five other large companies alleging that waste sent to a local waste incineration facility for destruction, but that was not ultimately destroyed as the facility lost its operating permit, caused environmental impacts requiring cleanup. The Municipality is seeking recovery of cleanup costs purportedly related to FDSAL's share of all waste accumulated at the incineration facility awaiting destruction, and compensatory damages to be allocated among the six defendants. We believe we have strong arguments against the claim, including defense strategies against any claim of joint and several liability. At the request of the Municipal prosecutor, in April 2012, the lawsuit was suspended for one year. Since that time, the prosecutor has initiated investigations into the Municipality's actions in the matter as well as the efforts undertaken by the six defendants to remove and dispose of their individual waste from the incineration facility. On October 3, 2014, the Municipal prosecutor announced that the investigation remained ongoing and outlined the terms of a proposed Term of Reference (a document that establishes the minimum elements to be addressed in the preparation of an Environmental Impact Assessment), under which the companies would be liable to withdraw the waste and remediate the area. On March 5, 2015, we presented our response to the prosecutor’s proposed Term of Reference, arguing that the proposed terms were overly general in nature and expressing our interest in discussing alternatives to address the matter. The prosecutor agreed to consider our request to engage a technical consultant to conduct an environmental diagnostic of the contaminated area. On May 29, 2015, we, in conjunction with the other defendant companies, submitted a draft cooperation agreement to the prosecutor, which outlined the proposed terms and conditions for the engagement of a technical consultant to conduct the environmental diagnostic. On August 19, 2016, the parties and the prosecutor agreed to engage the services of a third-party consultant to conduct a limited environmental assessment of the site. The site assessment was conducted during June 2017, and a written report summarizing the results of the assessment was provided to the parties and the prosecutor in November 2017. The report noted that waste is still present on the site and that further (Phase II) environmental assessments are needed before a plan to manage that remaining waste can be prepared. On April 1, 2019, the defendants met with the Prosecutor to discuss the conclusions set forth in the written report. Following that discussion, on April 10, 2019, the Prosecutor issued a procedural order requesting that the defendants prepare and submit a technical proposal outlining the steps needed to conduct the additional Phase II environmental assessments. The defendants will present the technical proposal to the Prosecutor in August 2019. Lascadoil Contamination in Animal Feed An investigation by the U.S. Food and Drug Administration (FDA) and the Michigan Department of Agriculture is ongoing to determine how lascadoil, oil for industrial use, made its way into the feed supply of certain turkey and hog feed mills in Michigan. The contaminated feed is believed to have caused the deaths of approximately 50,000 turkeys and the contamination (but not death) of at least 20,000 hogs in August 2014. While it remains an open question as to how the lascadoil made its way into the animal feed, the allegations are that lascadoil intended to be sold for reuse as biofuel was inadvertently sold to producers of soy oil, who in turn, unknowingly sold the contaminated soy oil to fat recycling vendors, who then sold the contaminated soy oil to feed mills for use in animal feed. Indeed, related to the FDA investigation, Shur-Green Farms LLC, a producer of soy oil, recalled certain batches of soy oil allegedly contaminated with lascadoil on October 13, 2014. During the course of its investigation, the FDA identified the process used to manufacture Zoetis’ Avatec® (lasalocid sodium) and Bovatec® (lasalocid sodium) products as one possible source of the lascadoil, since lascadoil contains small amounts of lasalocid, the active ingredient found in both products. Zoetis has historically sold any and all industrial lascadoil byproduct to an environmental company specializing in waste disposal. The environmental company is contractually obligated to incinerate the lascadoil or resell it for use in biofuel. Under the terms of the agreement, the environmental company is expressly prohibited from reselling the lascadoil to be used as a component in food. The FDA inspected the Zoetis site where Avatec and Bovatec are manufactured, and found no evidence that Zoetis was involved in the contamination of the animal feed. On March 10, 2015, plaintiffs Restaurant Recycling, LLC (Restaurant Recycling) and Superior Feed Ingredients, LLC (Superior), both of whom are in the fat recycling business, filed a complaint in the Seventeenth Circuit Court for the State of Michigan against Shur-Green Farms alleging negligence and breach of warranty claims arising from their purchase of soy oil allegedly contaminated with lascadoil. Plaintiffs resold the allegedly contaminated soy oil to turkey feed mills for use in feed ingredient. Plaintiffs also named Zoetis as a defendant in the complaint alleging that Zoetis failed to properly manufacture its products and breached an implied warranty that the soy oil was fit for use at turkey and hog mills. Zoetis was served with the complaint on June 3, 2015, and we filed our answer, denying all allegations, on July 15, 2015. On August 10, 2015, several of the turkey feed mills filed a joint complaint against Restaurant Recycling, Superior, Shur-Green Farms and others, alleging claims for negligence, misrepresentation, and breach of warranty, arising out of their alleged purchase and use of the contaminated soy oil. The complaint raises only one count against Zoetis for negligence. We filed an answer to the complaint on November 2, 2015, denying the allegation. On May 16, 2016, two additional turkey producers filed a complaint in the Seventeenth Circuit Court for the State of Michigan against the company, Restaurant Recycling, Superior, Shur-Green Farms and others, alleging claims for negligence and breach of warranties. We filed an answer to the complaint on June 20, 2016, denying the allegations. The Court has consolidated all three cases in Michigan for purposes of discovery and disposition. On July 28, 2017, we filed a motion for summary disposition on the grounds that no genuine issues of material fact exist and that Zoetis is entitled to judgment as a matter of law. On October 19, 2017, the Court granted our motion and dismissed all claims against Zoetis. On October 31, 2017, the plaintiffs filed motions for reconsideration of the Court's decision granting summary disposition. The Court, denied all such motions on December 6, 2017, for the same reasons cited in the Court’s original decision. On December 27, 2017, the plaintiffs filed a request with the Michigan Court of Appeals seeking an interlocutory (or interim) appeal of the lower Court’s decision, which we opposed on January 17, 2018. On July 5, 2018, the Court of Appeals denied the plaintiffs’ request for an interlocutory appeal. The case has been remanded back to the lower Court, where it will proceed to trial (unless settled) without Zoetis. The plaintiffs will have the option to seek an appeal of the lower Court's decision granting Zoetis' motion for summary disposition after the final adjudication of the case. Other Matters On February 14, 2019, the General Court of the European Union (General Court) annulled the January 11, 2016 decision of the European Commission (EC) that selective tax advantages granted by Belgium under its "excess profit" tax scheme constitute illegal state aid. On April 26, 2019, the EC announced that it will appeal the decision of the General Court. Due to the uncertainty with respect to the outcome of the appeal to be filed by the EC, the company has not reflected any potential benefits associated with the decision of the General Court in its consolidated financial statements as of June 30, 2019 . We will continue to monitor the developments of the appeal and its ultimate resolution. The European Commission published a decision on alleged competition law infringements by several human health pharmaceutical companies on June 19, 2013. One of the involved legal entities is Alpharma LLC (previously having the name Zoetis Products LLC). Alpharma LLC's involvement is solely related to its human health activities prior to Pfizer's acquisition of King/Alpharma. Zoetis paid a fine in the amount of Euro 11 million (approximately $14 million ) and was reimbursed in full by Pfizer in accordance with the Global Separation Agreement between Pfizer and Zoetis, which provides that Pfizer is obligated to indemnify Zoetis for any liabilities arising out of claims not related to its animal health assets. We filed an appeal of the decision on September 6, 2013, to the General Court of the European Union. On September 8, 2016, the General Court upheld the decision of the European Commission. On November 25, 2016, we filed an appeal to the Court of Justice of the European Union. On January 24, 2019, the Court heard oral argument on the merits of the appeal, and we now await the Court’s decision. B. Guarantees and Indemnifications In the ordinary course of business and in connection with the sale of assets and businesses, we indemnify our counterparties against certain liabilities that may arise in connection with the transaction or related to activities prior to the transaction. These indemnifications typically pertain to environmental, tax, employee and/or product-related matters and patent-infringement claims. If the indemnified party were to make a successful claim pursuant to the terms of the indemnification, we would be required to reimburse the loss. These indemnifications are generally subject to threshold amounts, specified claim periods and other restrictions and limitations. Historically, we have not paid significant amounts under these provisions and, as of June 30, 2019

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	rating Segments We manage our operations through two geographic operating segments: the United States and International. Each operating segment has responsibility for its commercial activities. Within each of these operating segments, we offer a diversified product portfolio, including vaccines, parasiticides, anti-infectives, medicated feed additives, animal health diagnostics and other pharmaceuticals, for both livestock and companion animal customers. Our chief operating decision maker uses the revenue and earnings of the two operating segments, among other factors, for performance evaluation and resource allocation. Other Costs and Business Activities Certain costs are not allocated to our operating segment results, such as costs associated with the following: • Other business activities, includes our Client Supply Services (CSS) contract manufacturing results, our human health diagnostics business, and expenses associated with our dedicated veterinary medicine research and development organization, research alliances, U.S. regulatory affairs and other operations focused on the development of our products. Other R&D-related costs associated with non-U.S. market and regulatory activities are generally included in the international commercial segment. • Corporate , includes platform functions such as business technology, facilities, legal, finance, human resources, business development, and communications, among others. These costs also include compensation costs and other miscellaneous operating expenses not charged to our operating segments, as well as interest income and expense. • Certain transactions and events such as (i) Purchase accounting adjustments , where we incur expenses associated with the amortization of fair value adjustments to inventory, intangible assets and property, plant and equipment; (ii) Acquisition-related activities , where we incur costs associated with acquiring and integrating newly acquired businesses, such as transaction costs and integration costs; and (iii) Certain significant items , which comprise substantive, unusual items that, either as a result of their nature or size, would not be expected to occur as part of our normal business on a regular basis, such as certain costs related to becoming an independent public company, restructuring charges and implementation costs associated with our cost-reduction/productivity initiatives that are not associated with an acquisition, certain asset impairment charges, certain legal and commercial settlements and the impact of divestiture-related gains and losses. • Other unallocated includes (i) certain overhead expenses associated with our global manufacturing operations not charged to our operating segments; (ii) certain costs associated with business technology and finance that specifically support our global manufacturing operations; (iii) certain supply chain and global logistics costs; and (iv) procurement costs. Segment Assets We manage our assets on a total company basis, not by operating segment. Therefore, our chief operating decision maker does not regularly review any asset information by operating segment and, accordingly, we do not report asset information by operating segment. Earnings Depreciation and Amortization (a) Three Months Ended Three Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 U.S. Revenue $ 780 $ 677 Cost of sales 158 140 Gross profit 622 537 Gross margin 79.7 % 79.3 % Operating expenses 127 116 Other (income)/deductions — — U.S. Earnings 495 421 $ 9 $ 8 International Revenue (b) 742 728 Cost of sales 218 229 Gross profit 524 499 Gross margin 70.6 % 68.5 % Operating expenses 146 147 Other (income)/deductions — 2 International Earnings 378 350 12 12 Total operating segments 873 771 21 20 Other business activities (79 ) (82 ) 6 6 Reconciling Items: Corporate (178 ) (139 ) 16 14 Purchase accounting adjustments (58 ) (23 ) 55 22 Acquisition-related costs (22 ) — — — Certain significant items (c) (3 ) (7 ) — — Other unallocated (78 ) (83 ) — 1 Total Earnings (d) $ 455 $ 437 $ 98 $ 63 (a) Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized. (b) Revenue denominated in euros was $184 million and $191 million for the three months ended June 30, 2019 , and June 30, 2018 , respectively. (c) For the three months ended June 30, 2019 , primarily represents product transfer costs and consulting fees related to our supply network strategy. For the three months ended June 30, 2018 primarily represents: (i) employee termination costs of $1 million related to our operational efficiency initiative, (ii) consulting fees and exit costs of $3 million related to our supply network strategy, and (iii) employee termination costs of $3 million in Europe as a result of initiatives to better align our organization structure. (d) Defined as income before provision for taxes on income. Earnings Depreciation and Amortization (a) Six Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 U.S. Revenue $ 1,498 $ 1,311 Cost of sales 305 280 Gross profit 1,193 1,031 Gross margin 79.6 % 78.6 % Operating expenses 237 212 Other (income)/deductions — — U.S. Earnings 956 819 $ 19 $ 16 International Revenue (b) 1,460 1,454 Cost of sales 428 463 Gross profit 1,032 991 Gross margin 70.7 % 68.2 % Operating expenses 278 280 Other (income)/deductions — 3 International Earnings 754 708 25 23 Total operating segments 1,710 1,527 44 39 Other business activities (159 ) (163 ) 11 11 Reconciling Items: Corporate (340 ) (292 ) 30 27 Purchase accounting adjustments (124 ) (46 ) 110 45 Acquisition-related costs (27 ) (1 ) — — Certain significant items (c) (73 ) (10 ) — — Other unallocated (151 ) (161 ) 1 1 Total Earnings (d) $ 836 $ 854 $ 196 $ 123 (a) Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized. (b) Revenue denominated in euros was $365 million and $375 million for the six months ended June 30, 2019 , and June 30, 2018 , respectively. (c) For the six months ended June 30, 2019 , primarily represents a change in estimate related to inventory costing of $68 million , and product transfer costs and consulting fees of $5 million related to our supply network strategy. For the six months ended June 30, 2018 , primarily represents: (i) employee termination costs of $1 million related to our operational efficiency initiative, (ii) consulting fees, employee termination costs and exit costs of $5 million related to our supply network strategy, and (iii) employee termination costs of $3 million in Europe as a result of initiatives to better align our organization structure, and (iv) a charge of $1 million related to the implementation of new accounting guidance as a result of the enactment of the Tax Act. (d)

Accounting Standards (Policies)

Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	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. Balance sheet amounts and operating results for subsidiaries operating outside the United States are as of and for the six -month periods ended May 31, 2019 , and May 31, 2018 .
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, Income Statement - Reporting Comprehensive Income , (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (ASU 2018-02), which permits companies to reclassify from accumulated other comprehensive income to retained earnings stranded tax effects resulting from the new federal corporate income tax rate. In the period of adoption, a company may choose to either apply the amendments retrospectively to each period in which the effect of the change in federal income tax rate is recognized or to apply the amendments in that reporting period. We adopted the new standard as of January 1, 2019, the required effective date. The company has elected to not reclassify the stranded income tax effects from accumulated other comprehensive income to retained earnings as the amount is insignificant. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes FASB Topic 840, Leases (Topic 840) which requires lessees to recognize most leases on the balance sheet with a corresponding right of use asset. Leases will be classified as financing or operating which will drive the expense recognition pattern. For lessees, the income statement presentation and expense recognition pattern for financing and operating leases is similar to the current model for capital and operating leases, respectively. Companies may elect to exclude short-term leases. The update also requires additional disclosures that will better enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We adopted the new standard as of January 1, 2019, the required effective date, using the effective date transition method. As permitted under the effective date transition method, financial information and disclosure for periods prior to the date of initial application will not be updated. An adjustment to opening retained earnings was not required in conjunction with our adoption. For additional information, see Note 10. Leases . We have elected not to reassess whether expired or existing contracts contain leases, nor did we reassess the classification of existing leases as of the adoption date. We did not use hindsight in our assessment of lease terms as of the effective date. Recently Issued Accounting Standards In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Topic 350-40), an accounting standards update which expands the scope of costs associated with cloud computing arrangements that must be capitalized. Under the new guidance, costs associated with implementing a cloud computing arrangement that is a service contract must be capitalized and expensed over the term of the hosting arrangement. We will adopt this guidance as of January 1, 2020, the required effective date, and are currently assessing the potential impact that the standard will have on our consolidated financial statements.
Tax Contingencies	tax liabilities for uncertain tax positions relate primarily to issues common among multinational corporations. Any settlements or statute of limitations expirations could result in a significant decrease in our uncertain tax positions. Substantially all of these unrecognized tax benefits, if recognized, would impact our effective income tax rate. We do not expect that within the next twelve months any of our uncertain tax positions could significantly decrease as a result of settlements with taxing authorities or the expiration of the statutes of limitations. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but our estimates of uncertain tax positions and potential tax benefits may not be representative of actual outcomes, and any variation from such estimates could materially affect our financial statements in the period of settlement or when the statutes of limitations expire, as we treat these events as discrete items in the period of resolution. Finalizing audits with the relevant taxing authorities can include formal administrative and legal proceedings, and, as a result, it is difficult to estimate the timing and range of possible changes related to our uncertain tax positions, and such changes could be significant.
Foreign Exchange and Interest Rate Risk	Foreign Exchange Risk A significant portion of our revenue, earnings and net investment in foreign affiliates is exposed to changes in foreign exchange rates. We seek to manage our foreign exchange risk, in part, through operational means, including managing same-currency revenue in relation to same-currency costs and same-currency assets in relation to same-currency liabilities. Depending on market conditions, foreign exchange risk is also managed through the use of various derivative financial instruments. These derivative financial instruments serve to manage the exposure of our net investment in certain foreign operations to changes in foreign exchange rates and protect net income against the impact of translation into U.S. dollars of certain foreign exchange-denominated transactions. All derivative financial instruments used to manage foreign currency risk are measured at fair value and are reported as assets or liabilities on the condensed consolidated balance sheet. The derivative financial instruments primarily offset exposures in the Australian dollar, British pound, Canadian dollar, Chinese yuan, euro, and Japanese yen. Changes in fair value are reported in earnings or in Accumulated other comprehensive income/(loss), depending on the nature and purpose of the financial instrument, as follows: • For foreign exchange contracts not designated as hedging instruments, we recognize the gains and losses on forward-exchange contracts that are used to offset the same foreign currency assets or liabilities immediately into earnings along with the earnings impact of the items they generally offset. These contracts essentially take the opposite currency position of that reflected in the month-end balance sheet to counterbalance the effect of any currency movement. The aggregate notional amount of foreign exchange derivative financial instruments offsetting foreign currency exposures was $1.2 billion and $1.3 billion , as of June 30, 2019 , and December 31, 2018 , respectively. The vast majority of the foreign exchange derivative financial instruments mature within 60 days and all mature within three years. • For cross-currency interest rate swaps, which are designated as a hedge against our net investment in foreign operations, changes in the fair value are recorded as a component of cumulative translation adjustment within Accumulated other comprehensive loss and reclassified into earnings when the foreign investment is sold or substantially liquidated. Gains and losses excluded from the assessment of hedge effectiveness are recognized in earnings ( Interest expense—net of capitalized interest) . The cash flows from these contracts are reflected within the investing section of our condensed consolidated statement of cash flows. The aggregate notional amount of cross-currency interest rate swap contracts was 507 million euro and 25 million swiss francs as of June 30, 2019 , and 400 million euro as of December 31, 2018 , with various terms of up to six years. Interest Rate Risk The company may use interest rate swap contracts on certain investing and borrowing transactions to manage its net exposure to interest rates and to reduce its overall cost of borrowing. In anticipation of issuing fixed-rate debt, we may use forward-starting interest rate swaps that are designated as cash flow hedges to hedge against changes in interest rates that could impact expected future issuances of debt. Unrealized gains or losses on the forward-starting interest rate swaps are reported in Accumulated other comprehensive loss
Legal Proceedings	Our non-tax contingencies include, among others, the following: • Product liability and other product-related litigation, which can include injury, consumer, off-label promotion, antitrust and breach of contract claims. • Commercial and other matters, which can include product-pricing claims and environmental claims and proceedings. • Patent litigation, which typically involves challenges to the coverage and/or validity of our patents or those of third parties on various products or processes. • Government investigations, which can involve regulation by national, state and local government agencies in the United States and in other countries. Certain of these contingencies could result in losses, including damages, fines and/or civil penalties, and/or criminal charges, which could be substantial. We believe that we have strong defenses in these types of matters, but litigation is inherently unpredictable and excessive verdicts do occur. We do not believe that any of these matters will have a material adverse effect on our financial position. However, we could incur judgments, enter into settlements or revise our expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on our results of operations or cash flows in the period in which the amounts are paid. We have accrued for losses that are both probable and reasonably estimable. Substantially all of these contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. Consequently, we are unable to estimate the range of reasonably possible loss in excess of amounts accrued. Our assessments are based on estimates and assumptions that have been deemed reasonable by management, but the assessment process relies on estimates and assumptions that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Amounts recorded for legal and environmental contingencies can result from a complex series of judgments about future events and uncertainties and can rely on estimates and assumptions. The principal matters to which we are a party are discussed below. In determining whether a pending matter is significant for financial reporting and disclosure purposes, we consider both quantitative and qualitative factors in order to assess materiality, such as, among other things, the amount of damages and the nature of any other relief sought in the proceeding, if such damages and other relief are specified; our view of the merits of the claims and of the strength of our defenses; whether the action purports to be a class action and our view of the likelihood that a class will be certified by the court; the jurisdiction in which the proceeding is pending; any experience that we or, to our knowledge, other companies have had in similar proceedings; whether disclosure of the action would be important to a reader of our financial statements, including whether disclosure might change a reader’s judgment about our financial statements in light of all of the information about the company that is available to the reader; the potential impact of the proceeding on our reputation; and the extent of public interest in the matter. In addition, with respect to patent matters, we consider, among other things, the financial significance of the product protected by the patent.
Guarantees and Indemnifications	the ordinary course of business and in connection with the sale of assets and businesses, we indemnify our counterparties against certain liabilities that may arise in connection with the transaction or related to activities prior to the transaction. These indemnifications typically pertain to environmental, tax, employee and/or product-related matters and patent-infringement claims. If the indemnified party were to make a successful claim pursuant to the terms of the indemnification, we would be required to reimburse the loss. These indemnifications are generally subject to threshold amounts, specified claim periods and other restrictions and limitations. Historically, we have not paid significant amounts under these provisions and, as of June 30, 2019
Segment Information	Operating Segments We manage our operations through two geographic operating segments: the United States and International. Each operating segment has responsibility for its commercial activities. Within each of these operating segments, we offer a diversified product portfolio, including vaccines, parasiticides, anti-infectives, medicated feed additives, animal health diagnostics and other pharmaceuticals, for both livestock and companion animal customers. Our chief operating decision maker uses the revenue and earnings of the two operating segments, among other factors, for performance evaluation and resource allocation. Other Costs and Business Activities Certain costs are not allocated to our operating segment results, such as costs associated with the following: • Other business activities, includes our Client Supply Services (CSS) contract manufacturing results, our human health diagnostics business, and expenses associated with our dedicated veterinary medicine research and development organization, research alliances, U.S. regulatory affairs and other operations focused on the development of our products. Other R&D-related costs associated with non-U.S. market and regulatory activities are generally included in the international commercial segment. • Corporate , includes platform functions such as business technology, facilities, legal, finance, human resources, business development, and communications, among others. These costs also include compensation costs and other miscellaneous operating expenses not charged to our operating segments, as well as interest income and expense. • Certain transactions and events such as (i) Purchase accounting adjustments , where we incur expenses associated with the amortization of fair value adjustments to inventory, intangible assets and property, plant and equipment; (ii) Acquisition-related activities , where we incur costs associated with acquiring and integrating newly acquired businesses, such as transaction costs and integration costs; and (iii) Certain significant items , which comprise substantive, unusual items that, either as a result of their nature or size, would not be expected to occur as part of our normal business on a regular basis, such as certain costs related to becoming an independent public company, restructuring charges and implementation costs associated with our cost-reduction/productivity initiatives that are not associated with an acquisition, certain asset impairment charges, certain legal and commercial settlements and the impact of divestiture-related gains and losses. • Other unallocated includes (i) certain overhead expenses associated with our global manufacturing operations not charged to our operating segments; (ii) certain costs associated with business technology and finance that specifically support our global manufacturing operations; (iii) certain supply chain and global logistics costs; and (iv) procurement costs. Segment Assets We manage our assets on a total company basis, not by operating segment. Therefore, our chief operating decision maker does not regularly review any asset information by operating segment and, accordingly, we do not report asset information by operating segment.
Lease Accounting Policy	Lease Accounting Policy Below are the significant accounting policies updated as of January 1, 2019, as a result of the adoption of the new lease accounting guidance. For additional information, see Note 3. Accounting Standards . We determine if a contract contains a lease at inception. Our current portfolio includes only operating leases which are recorded as a right of use asset, as of the lease commencement date, in an amount equal to the present value of future payments over the lease term. We have elected not to recognize right of use assets and lease liabilities for short-term leases of vehicles and equipment with a lease term of twelve months or less. Options to extend or terminate a lease are considered in the lease term to the extent that the option is reasonably certain of exercise. A corresponding lease liability is recorded within other current liabilities and operating lease liabilities . The present value of future payments is discounted using the rate implicit in the lease, when available. When the implicit rate is not available, as is frequently the case with our lease portfolio, the present value is calculated using our incremental borrowing rate, as determined as of the commencement date. The incremental borrowing rate represents the rate of interest that we would expect to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. As we do not borrow on a collateralized basis, our non-collateralized borrowing rate is used as an input in deriving the incremental borrowing rate. Fixed lease payments are recognized on straight-line basis over the lease term, while variable payments are recognized in the period incurred. Variable lease payments include real estate taxes and charges for other nonlease services due to lessors that are not dependent on an index or rate and utilization based charges associated with fleet vehicles. Our real estate and fleet lease contracts may include fixed consideration attributable to both lease and non-lease components, including non-lease services provided by the vendor, which are accounted for as a single fixed minimum payment. For leases of certain classes of machinery and equipment, contract consideration is allocated to lease and non-lease components on the basis of relative standalone price.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	fair values allocated to Abaxis' assets and liabilities as of the acquisition date, are reflected in the table below. (MILLIONS OF DOLLARS) Amounts Cash and cash equivalents $ 64 Short term investments (a) 107 Accounts receivable (b) 30 Inventories (c) 79 Other current assets 6 Property, plant and equipment (d) 54 Identifiable intangible assets (e) 894 Other noncurrent assets 29 Accounts payable (21) Accrued compensation and related items (10) Other current liabilities (22) Other noncurrent liabilities (11) Noncurrent deferred tax liabilities (f) (214) Total net assets acquired 985 Goodwill (g) 977 Total consideration $ 1,962 (a) Short term investments include investments in debt securities that are classified as available-for-sale and measured at fair value. (b) The fair value approximates the gross contractual amount of accounts receivable. The contractual amount not expected to be collected is immaterial. (c) Acquired inventory is comprised of finished goods, work in process and raw materials. The fair value of finished goods was determined based on net realizable value adjusted for the costs of the selling effort, a reasonable profit allowance for the selling effort, and estimated holding costs. The fair value of work in process was determined based on net realizable value adjusted for costs to complete the manufacturing process, costs of the selling effort, a reasonable profit allowance for the remaining manufacturing and selling effort, and an estimate of holding costs. The fair value of raw materials was determined to approximate book value. (d) Property, plant and equipment is comprised of machinery and equipment, furniture and fixtures, computer equipment, leasehold improvements and construction in progress. The fair value was primarily determined using a reproduction/replacement cost approach which measures the value of an asset by estimating the cost to acquire or construct comparable assets adjusted for age and condition of the asset. (e) Identifiable intangible assets primarily consist of developed technology rights, customer relationships, and trademarks and tradenames. The fair value of identifiable intangible assets is determined using the income approach, which includes a forecast of expected future cash flows. For additional information regarding identifiable intangible assets, see Note 12. Goodwill and Other Intangible Assets . (f) The acquisition was structured as a stock purchase and therefore we assumed the historical tax basis of Abaxis' assets and liabilities. The deferred tax effects resulting from the acquisition include the expected federal, state, and foreign tax consequences associated with temporary differences between the fair values of the assets acquired and liabilities assumed and the respective tax basis. The components of the Abaxis net deferred tax liability are included within amounts reported in Note 8. Income Taxes . (g) Goodwill represents the excess of consideration transferred over the of fair values of the assets acquired and liabilities assumed. It is allocated to our existing reportable segments and is primarily attributable to the future potential of the technology platforms, as well as cost and revenue synergies including market share capture, elimination of cost redundancies and gain of cost efficiencies, and intangible assets such as assembled workforce which are not separately recognizable. The primary strategic purpose of the acquisition was to enhance the company’s existing product portfolio by strengthening Zoetis’ presence in veterinary diagnostics. The goodwill recorded is not deductible for tax purposes.
Business Acquisition, Pro Forma Information [Table Text Block]	Supplemental Pro Forma Information (Unaudited): The following table provides unaudited supplemental pro forma financial information as if the acquisition of Abaxis had occurred on January 1, 2017. Three Months Ended Six Months Ended (MILLIONS OF DOLLARS) June 30, 2018 Revenue $ 1,483 $ 2,916 Net income attributable to Zoetis Inc. 353 676

Revenue Revenue Recognition and

Revenue Revenue Recognition and Deferred Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Revenue from External Customers by Geographic Areas	Revenue by geographic area Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 United States $ 780 $ 677 $ 1,498 $ 1,311 Australia 49 51 97 99 Brazil 74 68 134 138 Canada 54 56 95 96 China 56 60 116 124 France 27 30 59 63 Germany 39 38 76 76 Italy 28 26 56 53 Japan 41 39 78 80 Mexico 30 26 58 50 Spain 30 30 57 55 United Kingdom 42 36 99 88 Other developed markets 88 89 172 168 Other emerging markets 184 179 363 364 1,522 1,405 2,958 2,765 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781
Revenue from External Customers by Major Species	Revenue by major species Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 U.S. Livestock $ 280 $ 271 $ 553 $ 563 Companion animal 500 406 945 748 780 677 1,498 1,311 International Livestock 444 463 878 941 Companion animal 298 265 582 513 742 728 1,460 1,454 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781
Revenue from External Customers by Species	Revenue by species Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Livestock: Cattle $ 379 $ 396 $ 759 $ 812 Swine 158 165 307 340 Poultry 143 129 282 265 Fish 25 24 48 46 Other 19 20 35 41 724 734 1,431 1,504 Companion Animal: Dogs and Cats 754 630 1,442 1,179 Horses 44 41 85 82 798 671 1,527 1,261 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781
Schedule of Significant Product Revenues	Revenue by major product category Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Vaccines $ 370 $ 371 $ 728 $ 727 Other pharmaceuticals 372 337 721 656 Anti-infectives 293 286 579 583 Parasiticides 266 245 497 436 Medicated feed additives 115 114 227 251 Animal health diagnostics 65 12 125 23 Other non-pharmaceuticals 41 40 81 89 1,522 1,405 2,958 2,765 Contract manufacturing & human health diagnostics 25 10 44 16 Total Revenue $ 1,547 $ 1,415 $ 3,002 $ 2,781 B. Revenue from Contracts with Customers Contract liabilities reflected within Other current liabilities as of December 31, 2018 and December 31, 2017, and subsequently recognized as revenue during the first six months of 2019 and 2018 were approximately $4 million and $2 million , respectively. Contract liabilities as of June 30, 2019 and December 31, 2018 were approximately $11 million and $9 million , respectively. Estimated future revenue expected to be generated from long-term contracts with unsatisfied performance obligations as of June 30, 2019

Restructuring Charges and Oth_2

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives (Tables)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The components of, and changes in, our restructuring accruals are as follows: (MILLIONS OF DOLLARS) Accrual (a) Balance, December 31, 2018 (b) $ 45 Provision 18 Utilization and other (c) (25 ) Balance, June 30, 2019 (b) $ 38 (a) Changes in our restructuring accrual represents employee termination costs. (b) At June 30, 2019 , and December 31, 2018 , included in Accrued expenses ( $12 million and $27 million , respectively) and Other noncurrent liabilities ( $26 million and $18 million , respectively). (c) The components of costs incurred in connection with restructuring initiatives, acquisitions and cost-reduction/productivity initiatives are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Restructuring charges and certain acquisition-related costs: Integration costs (a) $ 8 $ — $ 9 $ 1 Restructuring charges (b)(c) : Employee termination costs 14 4 18 5 Exit costs — 1 — 1 Total Restructuring charges and certain acquisition-related costs $ 22 $ 5 $ 27 $ 7 (a) Integration costs represent external, incremental costs directly related to integrating acquired businesses and primarily include expenditures for consulting and the integration of systems and processes, as well as product transfer costs. (b) The restructuring charges for the three and six months ended June 30, 2019 primarily relate to the acquisition of Abaxis. The restructuring charges for the three and six months ended June 30, 2018 primarily relate to employee termination costs in Europe as a result of initiatives to better align our organizational structure and employee termination costs and exit costs as a result of our operational efficiency initiative and supply network strategy initiative. (c) The restructuring charges are associated with the following: • For the three months ended June 30, 2019 , Manufacturing/research/corporate of $14 million . • For the three months ended June 30, 2018 , International of $4 million and Manufacturing/research/corporate of $1 million . • For the six months ended June 30, 2019 , Manufacturing/research/corporate of $18 million . • For the six months ended June 30, 2018 , International of $4 million and Manufacturing/research/corporate of $2 million .

Other (Income)_Deductions - N_2

Other (Income)/Deductions - Net (Tables)	6 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Components of Other (Income)/Deductions—Net	The components of Other (income)/deductions—net are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Royalty-related income $ (3 ) $ (6 ) $ (8 ) $ (13 ) Interest income (9 ) (8 ) (19 ) (14 ) Foreign currency loss (a) 7 9 7 17 Other, net (1 ) 1 — 1 Other (income)/deductions—net $ (6 ) $ (4 ) $ (20 ) $ (9 ) (a) Primarily driven by costs related to hedging and exposures to certain emerging market currencies.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Financial Instruments [Abstract]
Available-for-sale Securities	he investment securities portfolio consists of debt securities that are investment grade. Information on investments in the debt securities, including the contractual maturities, or as necessary, the estimated maturities, of the available-for-sale securities is as follows: Gross Unrealized As of June 30, 2019 As of December 31, 2018 (MILLIONS OF DOLLARS) Amortized Cost Gains Losses Fair Value Amortized Cost Gains Losses Fair Value Available-for-sale debt securities Municipal Bonds $ 1 $ — $ — $ 1 $ 1 $ — $ — $ 1 Corporate Bonds 24 — — 24 100 — — 100 Total debt securities $ 25 $ — $ — $ 25 $ 101 $ — $ — $ 101 Maturities by Period (a) As of June 30, 2019 As of December 31, 2018 (MILLIONS OF DOLLARS) Within 1 year Over 1 to 5 years Over 5 years Total Within 1 year Over 1 to 5 years Over 5 years Total Available-for-sale debt securities Municipal Bonds $ 1 $ — $ — $ 1 $ 1 $ — $ — $ 1 Corporate Bonds 24 — — 24 98 2 — 100 Total debt securities $ 25 $ — $ — $ 25 $ 99 $ 2 $ — $ 101 (a) Long term investments are included in Other noncurrent assets .
Schedule of Long-term Debt Instruments	The components of our long-term debt are as follows: June 30, December 31, (MILLIONS OF DOLLARS) 2019 2018 3.450% 2015 senior notes due 2020 $ 500 $ 500 2018 floating rate (three-month USD LIBOR plus 0.44%) senior notes due 2021 300 300 3.250% 2018 senior notes due 2021 300 300 3.250% 2013 senior notes due 2023 1,350 1,350 4.500% 2015 senior notes due 2025 750 750 3.000% 2017 senior notes due 2027 750 750 3.900% 2018 senior notes due 2028 500 500 4.700% 2013 senior notes due 2043 1,150 1,150 3.950% 2017 senior notes due 2047 500 500 4.450% 2018 senior notes due 2048 400 400 6,500 6,500 Unamortized debt discount / debt issuance costs (54 ) (57 ) Long-term debt, net of discount and issuance costs $ 6,446 $ 6,443
Schedule of Maturities of Long-term Debt	The principal amount of long-term debt outstanding, as of June 30, 2019 , matures in the following years: After (MILLIONS OF DOLLARS) 2020 2021 2022 2023 2023 Total Maturities $ 500 $ 600 $ — $ 1,350 $ 4,050 $ 6,500
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The classification and fair values of derivative instruments are as follows: Fair Value of Derivatives June 30, December 31, (MILLIONS OF DOLLARS) Balance Sheet Location 2019 2018 Derivatives Not Designated as Hedging Instruments Foreign currency forward-exchange contracts Other current assets $ 9 $ 6 Foreign currency forward-exchange contracts Other current liabilities (6 ) (7 ) Total derivatives not designated as hedging instruments $ 3 $ (1 ) Derivatives Designated as Hedging Instruments: Cross-currency interest rate swap contracts Other current assets $ 3 $ 3 Cross-currency interest rate swap contracts Other current liabilities (2 ) — Cross-currency interest rate swap contracts Other non-current assets 14 8 Total derivatives designated as hedging instruments 15 11 Total derivatives $ 18 $ 10
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The amounts of net gains on derivative instruments not designated as hedging instruments, recorded in Other (income)/deductions—net , are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Foreign currency forward-exchange contracts $ 8 $ 10 $ 4 $ —
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	The amounts of unrecognized net gains on cross-currency interest rate swap contracts, recorded, net of tax, in Accumulated other comprehensive income/(loss) , are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Cross-currency interest rate swap contracts $ (4 ) $ 1 $ 14 $ 1
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location	Gains on cross-currency interest rate swap contracts, recognized within Interest expense, net of capitalized interest, are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Cross-currency interest rate swap contracts $ 4 $ 1 $ 8 $ 1

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lease, Cost [Table Text Block]	Supplemental information for operating leases is as follows: (MILLIONS OF DOLLARS, EXCEPT LEASE TERM AND DISCOUNT RATE AMOUNTS) As of June 30, 2019 Supplemental Balance Sheet information for operating leases Operating lease right of use assets $ 195 Operating lease liabilities Operating lease liabilities - current $ 36 Operating lease liabilities - noncurrent 169 Total operating lease liabilities $ 205 Weighted-average remaining lease term—operating leases (years) 7.37 Weighted-average discount rate—operating leases 3.75 % Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 Supplemental Income Statement information for operating leases Operating lease expense $ 10 $ 19 Variable lease payments not included in the measurement of lease liabilities 4 8 Short-term lease payments not included in the measurement of lease liabilities 3 6 Supplemental Cash Flow information for operating leases Cash paid for amounts included in the measurement of lease liabilities $ 10 $ 19 Lease obligations obtained in exchange for right-of-use assets (non-cash) 47 223
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Future minimum lease payments under non-cancellable operating lease contracts as of June 30, 2019 , are as follows: Total Less: After Lease Imputed (MILLIONS OF DOLLARS) 2019 (a) 2020 2021 2022 2023 2023 Payments Interest Total Maturities $ 22 $ 40 $ 34 $ 30 $ 25 $ 85 $ 236 $ (31 ) $ 205 (a) 2019 excludes the six months ended
Lessee, Operating Lease, Disclosure [Table Text Block]	Future minimum lease payments under non-cancellable operating lease contracts as of December 31, 2018 , in accordance with the superceded leasing standard, are as follows: After (MILLIONS OF DOLLARS) 2019 2020 2021 2022 2023 2023 Total Maturities $ 38 $ 30 $ 24 $ 21 $ 15 $ 45 $ 173

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Components of Inventory	The components of inventory are as follows: June 30, December 31, (MILLIONS OF DOLLARS) 2019 2018 Finished goods $ 684 $ 744 Work-in-process 527 481 Raw materials and supplies 193 166 Inventories $ 1,404 $ 1,391

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the Carrying Amount of Goodwill	The components of, and changes in, the carrying amount of goodwill are as follows: (MILLIONS OF DOLLARS) U.S. International Total Balance, December 31, 2018 $ 1,265 $ 1,254 $ 2,519 Other (a) — (14 ) (14 ) Balance, June 30, 2019 $ 1,265 $ 1,240 $ 2,505 (a) Includes measurement period adjustments related to the acquisition of Abaxis and adjustments for foreign currency translation.
Components of Identifiable Intangible Assets	The components of identifiable intangible assets are as follows: As of June 30, 2019 As of December 31, 2018 Identifiable Identifiable Gross Intangible Assets Gross Intangible Assets Carrying Accumulated Less Accumulated Carrying Accumulated Less Accumulated (MILLIONS OF DOLLARS) Amount Amortization Amortization Amount Amortization Amortization Finite-lived intangible assets: Developed technology rights (a) $ 1,887 $ (590 ) $ 1,297 $ 1,854 $ (523 ) $ 1,331 Brands 212 (160 ) 52 212 (154 ) 58 Trademarks and trade names (a) 166 (54 ) 112 166 (51 ) 115 Other 410 (213 ) 197 412 (178 ) 234 Total finite-lived intangible assets 2,675 (1,017 ) 1,658 2,644 (906 ) 1,738 Indefinite-lived intangible assets: In-process research and development 147 — 147 197 — 197 Brands 37 — 37 37 — 37 Trademarks and trade names 67 — 67 67 — 67 Product rights 7 — 7 7 — 7 Total indefinite-lived intangible assets 258 — 258 308 — 308 Identifiable intangible assets $ 2,933 $ (1,017 ) $ 1,916 $ 2,952 $ (906 ) $ 2,046 (a) In connection with the acquisition of Abaxis in 2018, the company recorded $894 million of intangible assets, as shown in the table below, representing the fair value at the acquisition date. See Note 5. Acquisitions and Divestitures for additional information. Gross Carrying Weighted-average (MILLIONS OF DOLLARS) Amount Life (years) Finite-lived intangible assets: Developed technology rights $ 610 10 Trademarks and tradenames 104 20 Other 180 4 Total $ 894

Share-Based Payments (Tables)

Share-Based Payments (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Components of Share-based Compensation Expense	The components of share-based compensation expense are as follows: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 Stock options / stock appreciation rights $ 2 $ 3 $ 5 $ 5 RSUs / DSUs (a)(b) 12 6 24 13 PSUs 3 2 6 4 Share-based compensation expense—total (c) $ 17 $ 11 $ 35 $ 22 (a) For the three and six months ended June 30, 2019 , includes share-based compensation expense of $4 million and $9 million , respectively related to the acquisition of Abaxis, for the post-merger service period. For additional details, see Note 5. Acquisitions and Divestitures . (b) Includes additional share-based compensation expense as a result of accelerated vesting of outstanding RSUs of terminated employees in connection with the acquisition of Abaxis, for the three and six months ended June 30, 2019 , of approximately $2 million and $4 million , respectively, which is included in Restructuring charges and certain acquisition-related costs . (c) Amounts capitalized to inventory were $1 million for both the three and six months ended June 30, 2019 and insignificant for both the three and six months ended June 30, 2018 .

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Changes, Net of Tax, in Accumulated Other Comprehensive Loss	Changes, net of tax, in accumulated other comprehensive loss, excluding noncontrolling interests, were as follows: Currency Translation Adjustments Accumulated Other Cash Flow Net Investment Other Currency Comprehensive (MILLIONS OF DOLLARS) Hedges Hedges Translation Adj Benefit Plans (Loss)/Income Balance, December 31, 2017 $ (3 ) $ — $ (487 ) $ (15 ) $ (505 ) Other comprehensive income, net of tax — — (38 ) — (38 ) Balance, June 30, 2018 $ (3 ) $ — $ (525 ) $ (15 ) $ (543 ) Balance, December 31, 2018 $ (4 ) $ 10 $ (621 ) $ (14 ) $ (629 ) Other comprehensive income, net of tax 1 4 (45 ) — (40 ) Balance, June 30, 2019 $ (3 ) $ 14 $ (666 ) $ (14 ) $ (669 )

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	The following table presents the calculation of basic and diluted earnings per share: Three Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS AND SHARES, EXCEPT PER SHARE DATA) 2019 2018 2019 2018 Numerator Net income before allocation to noncontrolling interests $ 371 $ 382 $ 683 $ 732 Less: Net loss attributable to noncontrolling interests — (2 ) — (4 ) Net income attributable to Zoetis Inc. $ 371 $ 384 $ 683 $ 736 Denominator Weighted-average common shares outstanding 478.8 483.8 479.2 484.8 Common stock equivalents: stock options, RSUs, PSUs and DSUs 3.5 3.7 3.5 3.8 Weighted-average common and potential dilutive shares outstanding 482.3 487.5 482.7 488.6 Earnings per share attributable to Zoetis Inc. stockholders—basic $ 0.77 $ 0.79 $ 1.43 $ 1.52 Earnings per share attributable to Zoetis Inc. stockholders—diluted $ 0.77 $ 0.79 $ 1.41 $ 1.51

Segment Information Segment Inf

Segment Information Segment Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Selected Income Statement Information by Segment	Segment Assets We manage our assets on a total company basis, not by operating segment. Therefore, our chief operating decision maker does not regularly review any asset information by operating segment and, accordingly, we do not report asset information by operating segment. Earnings Depreciation and Amortization (a) Three Months Ended Three Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 U.S. Revenue $ 780 $ 677 Cost of sales 158 140 Gross profit 622 537 Gross margin 79.7 % 79.3 % Operating expenses 127 116 Other (income)/deductions — — U.S. Earnings 495 421 $ 9 $ 8 International Revenue (b) 742 728 Cost of sales 218 229 Gross profit 524 499 Gross margin 70.6 % 68.5 % Operating expenses 146 147 Other (income)/deductions — 2 International Earnings 378 350 12 12 Total operating segments 873 771 21 20 Other business activities (79 ) (82 ) 6 6 Reconciling Items: Corporate (178 ) (139 ) 16 14 Purchase accounting adjustments (58 ) (23 ) 55 22 Acquisition-related costs (22 ) — — — Certain significant items (c) (3 ) (7 ) — — Other unallocated (78 ) (83 ) — 1 Total Earnings (d) $ 455 $ 437 $ 98 $ 63 (a) Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized. (b) Revenue denominated in euros was $184 million and $191 million for the three months ended June 30, 2019 , and June 30, 2018 , respectively. (c) For the three months ended June 30, 2019 , primarily represents product transfer costs and consulting fees related to our supply network strategy. For the three months ended June 30, 2018 primarily represents: (i) employee termination costs of $1 million related to our operational efficiency initiative, (ii) consulting fees and exit costs of $3 million related to our supply network strategy, and (iii) employee termination costs of $3 million in Europe as a result of initiatives to better align our organization structure. (d) Defined as income before provision for taxes on income. Earnings Depreciation and Amortization (a) Six Months Ended Six Months Ended June 30, June 30, (MILLIONS OF DOLLARS) 2019 2018 2019 2018 U.S. Revenue $ 1,498 $ 1,311 Cost of sales 305 280 Gross profit 1,193 1,031 Gross margin 79.6 % 78.6 % Operating expenses 237 212 Other (income)/deductions — — U.S. Earnings 956 819 $ 19 $ 16 International Revenue (b) 1,460 1,454 Cost of sales 428 463 Gross profit 1,032 991 Gross margin 70.7 % 68.2 % Operating expenses 278 280 Other (income)/deductions — 3 International Earnings 754 708 25 23 Total operating segments 1,710 1,527 44 39 Other business activities (159 ) (163 ) 11 11 Reconciling Items: Corporate (340 ) (292 ) 30 27 Purchase accounting adjustments (124 ) (46 ) 110 45 Acquisition-related costs (27 ) (1 ) — — Certain significant items (c) (73 ) (10 ) — — Other unallocated (151 ) (161 ) 1 1 Total Earnings (d) $ 836 $ 854 $ 196 $ 123 (a) Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized. (b) Revenue denominated in euros was $365 million and $375 million for the six months ended June 30, 2019 , and June 30, 2018 , respectively. (c) For the six months ended June 30, 2019 , primarily represents a change in estimate related to inventory costing of $68 million , and product transfer costs and consulting fees of $5 million related to our supply network strategy. For the six months ended June 30, 2018 , primarily represents: (i) employee termination costs of $1 million related to our operational efficiency initiative, (ii) consulting fees, employee termination costs and exit costs of $5 million related to our supply network strategy, and (iii) employee termination costs of $3 million in Europe as a result of initiatives to better align our organization structure, and (iv) a charge of $1 million related to the implementation of new accounting guidance as a result of the enactment of the Tax Act. (d)

Organization (Details)

Organization (Details) - Jun. 30, 2019	species	country	region	category	product_category
Product Information [Line Items]
Number of regional segments | region			2
Number of countries in which entity markets products		45
Number of core animal species | species	8
Number of major product categories				6	300
Product
Product Information [Line Items]
Number of countries in which entity markets products		100

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Details) - USD ($) $ / shares in Units, $ in Millions		Jul. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Total Restructuring charges and certain acquisition-related costs			$ 22	$ 5	$ 27	$ 7
Business Acquisition, Name of Acquired Entity			Abaxis, Inc. (Abaxis), a California corporation and a leader in the development, manufacture and marketing of diagnostic instruments for veterinary point-of-care services.
Amortization of intangible assets						51
Interest expense, net of capitalized interest			$ 55	46	111	93
Share-based compensation expense					35	22
Identifiable intangible assets			894		894
Abaxis Inc
Business Acquisition [Line Items]
Total Restructuring charges and certain acquisition-related costs			$ 22		$ 27
Share price (in dollars per share)		$ 83
Payments to Acquire Businesses, Gross		$ 1,962
Amortization of intangible assets				31		64
Depreciation				1		2
Interest expense, net of capitalized interest				14		29
Share-based compensation expense				$ 2		$ 5
Property, plant and equipment	[1]	54
Identifiable intangible assets	[2]	894
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		22
Goodwill, Acquired During Period	[3]	977
Measurement period adjustment [Member] | Abaxis Inc
Business Acquisition [Line Items]
Identifiable intangible assets		$ (1)
[1]	Property, plant and equipment is comprised of machinery and equipment, furniture and fixtures, computer equipment, leasehold improvements and construction in progress. The fair value was primarily determined using a reproduction/replacement cost approach which measures the value of an asset by estimating the cost to acquire or construct comparable assets adjusted for age and condition of the asset.
[2]	Identifiable intangible assets primarily consist of developed technology rights, customer relationships, and trademarks and tradenames. The fair value of identifiable intangible assets is determined using the income approach, which includes a forecast of expected future cash flows. For additional information regarding identifiable intangible assets, see Note 12. Goodwill and Other Intangible Assets .
[3]	Goodwill represents the excess of consideration transferred over the of fair values of the assets acquired and liabilities assumed. It is allocated to our existing reportable segments and is primarily attributable to the future potential of the technology platforms, as well as cost and revenue synergies including market share capture, elimination of cost redundancies and gain of cost efficiencies, and intangible assets such as assembled workforce which are not separately recognizable. The primary strategic purpose of the acquisition was to enhance the company’s existing product portfolio by strengthening Zoetis’ presence in veterinary diagnostics. The goodwill recorded is not deductible for tax purposes.

Acquisitions and Divestitures -

Acquisitions and Divestitures - Consideration Transferred (Details) - Abaxis Inc $ in Millions	Jul. 31, 2018USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 1,898	[1]
CashPaidForEqutyAwardsVestedAtAcquisition	54	[2]
Business Combination, Consideration Transferred	1,962
BusinessCombinationPreMergerService [Member]
Business Acquisition [Line Items]
Equity Issued in Business Combination, Fair Value Disclosure	$ 10	[3]
[1]	Represents cash paid for cancellation and conversion of each outstanding share of Abaxis' common stock at the acquisition date.
[2]	Represents cash paid for cancellation and settlement of restricted stock awards that fully vested in July 2018 as a result of service or pre-existing change-in-control provisions and termination provisions.
[3]	Represents the fair value of replacement awards issued for Abaxis equity awards outstanding immediately before the acquisition and attributable to the service period prior to the acquisition. The previous Abaxis equity awards were converted into the Zoetis equity awards at an exchange ratio based on the closing prices of shares of Zoetis common stock and Abaxis common stock for ten full trading days before the closing of the acquisition.

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Preliminary Fair Values Allocated (Details) - USD ($) $ in Millions		Jul. 31, 2018	Jun. 30, 2019
Business Acquisition [Line Items]
Identifiable intangible assets			$ 894
Abaxis Inc
Business Acquisition [Line Items]
Cash and cash equivalents		$ 64
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities	[1]	107
Accounts receivable	[2]	30
Inventories	[3]	79
Other current assets		6
Property, plant and equipment	[4]	54
Identifiable intangible assets	[5]	894
Other noncurrent assets		29
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		21
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accrued Compensation and Related Items		10
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		22
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities		11
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent	[6]	214
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		985
Goodwill, Acquired During Period	[7]	977
Business Combination, Consideration Transferred		1,962
Measurement period adjustment [Member] | Abaxis Inc
Business Acquisition [Line Items]
Identifiable intangible assets		$ (1)
[1]	Short term investments include investments in debt securities that are classified as available-for-sale and measured at fair value.
[2]	The fair value approximates the gross contractual amount of accounts receivable. The contractual amount not expected to be collected is immaterial.
[3]	Acquired inventory is comprised of finished goods, work in process and raw materials. The fair value of finished goods was determined based on net realizable value adjusted for the costs of the selling effort, a reasonable profit allowance for the selling effort, and estimated holding costs. The fair value of work in process was determined based on net realizable value adjusted for costs to complete the manufacturing process, costs of the selling effort, a reasonable profit allowance for the remaining manufacturing and selling effort, and an estimate of holding costs. The fair value of raw materials was determined to approximate book value.
[4]	Property, plant and equipment is comprised of machinery and equipment, furniture and fixtures, computer equipment, leasehold improvements and construction in progress. The fair value was primarily determined using a reproduction/replacement cost approach which measures the value of an asset by estimating the cost to acquire or construct comparable assets adjusted for age and condition of the asset.
[5]	Identifiable intangible assets primarily consist of developed technology rights, customer relationships, and trademarks and tradenames. The fair value of identifiable intangible assets is determined using the income approach, which includes a forecast of expected future cash flows. For additional information regarding identifiable intangible assets, see Note 12. Goodwill and Other Intangible Assets .
[6]	The acquisition was structured as a stock purchase and therefore we assumed the historical tax basis of Abaxis' assets and liabilities. The deferred tax effects resulting from the acquisition include the expected federal, state, and foreign tax consequences associated with temporary differences between the fair values of the assets acquired and liabilities assumed and the respective tax basis. The components of the Abaxis net deferred tax liability are included within amounts reported in Note 8. Income Taxes .
[7]	Goodwill represents the excess of consideration transferred over the of fair values of the assets acquired and liabilities assumed. It is allocated to our existing reportable segments and is primarily attributable to the future potential of the technology platforms, as well as cost and revenue synergies including market share capture, elimination of cost redundancies and gain of cost efficiencies, and intangible assets such as assembled workforce which are not separately recognizable. The primary strategic purpose of the acquisition was to enhance the company’s existing product portfolio by strengthening Zoetis’ presence in veterinary diagnostics. The goodwill recorded is not deductible for tax purposes.

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Supplemental Pro Forma Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Amortization of intangible assets				$ 51
Interest expense, net of capitalized interest	$ 55	$ 46	$ 111	93
Share-based compensation expense			$ 35	22
Abaxis Inc
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue		1,483		2,916
Business Acquisition, Pro Forma Net Income (Loss)		353		676
Amortization of intangible assets		31		64
Depreciation		1		2
Interest expense, net of capitalized interest		14		29
Share-based compensation expense		$ 2		$ 5

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	Jun. 30, 2019USD ($)	Jun. 30, 2019category	Jun. 30, 2019product_category	Jun. 30, 2018USD ($)
Revenue Recognition and Deferred Revenue [Abstract]
Number of major product categories		6	300
Other current liabilities	$ 4			$ 2
Contract liabilities	$ 11			$ 9

Revenue - Revenue by Geographic

Revenue - Revenue by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Revenue	$ 1,547	$ 1,415	$ 3,002	$ 2,781
Contract Manufacturing and Human Health Diagnostics [Member]
Revenue from External Customer [Line Items]
Revenue	25	10	44	16
UNITED STATES
Revenue from External Customer [Line Items]
Revenue	780	677	1,498	1,311
Australia
Revenue from External Customer [Line Items]
Revenue	49	51	97	99
Brazil
Revenue from External Customer [Line Items]
Revenue	74	68	134	138
Canada
Revenue from External Customer [Line Items]
Revenue	54	56	95	96
China
Revenue from External Customer [Line Items]
Revenue	56	60	116	124
France
Revenue from External Customer [Line Items]
Revenue	27	30	59	63
Germany
Revenue from External Customer [Line Items]
Revenue	39	38	76	76
Italy
Revenue from External Customer [Line Items]
Revenue	28	26	56	53
Japan
Revenue from External Customer [Line Items]
Revenue	41	39	78	80
Mexico
Revenue from External Customer [Line Items]
Revenue	30	26	58	50
Spain
Revenue from External Customer [Line Items]
Revenue	30	30	57	55
United Kingdom
Revenue from External Customer [Line Items]
Revenue	42	36	99	88
Other developed markets
Revenue from External Customer [Line Items]
Revenue	88	89	172	168
Other emerging markets
Revenue from External Customer [Line Items]
Revenue	184	179	363	364
Total geographical area
Revenue from External Customer [Line Items]
Revenue	$ 1,522	$ 1,405	$ 2,958	$ 2,765

Revenue - Revenue by Major Spec

Revenue - Revenue by Major Species (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Revenue		$ 1,547	$ 1,415	$ 3,002	$ 2,781
Livestock
Revenue from External Customer [Line Items]
Revenue		724	734	1,431	1,504
Livestock | U.S.
Revenue from External Customer [Line Items]
Revenue		280	271	553	563
Livestock | International
Revenue from External Customer [Line Items]
Revenue		444	463	878	941
Companion animal
Revenue from External Customer [Line Items]
Revenue		798	671	1,527	1,261
Companion animal | U.S.
Revenue from External Customer [Line Items]
Revenue		500	406	945	748
Companion animal | International
Revenue from External Customer [Line Items]
Revenue		298	265	582	513
Operating Segments | U.S.
Revenue from External Customer [Line Items]
Revenue		780	677	1,498	1,311
Operating Segments | International
Revenue from External Customer [Line Items]
Revenue	[1]	$ 742	$ 728	$ 1,460	$ 1,454
[1]	Revenue denominated in euros was $365 million and $375 million for the six months ended June 30, 2019 , and June 30, 2018

Revenue - Revenue by Species (D

Revenue - Revenue by Species (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Revenue	$ 1,547	$ 1,415	$ 3,002	$ 2,781
Cattle
Revenue from External Customer [Line Items]
Revenue	379	396	759	812
Swine
Revenue from External Customer [Line Items]
Revenue	158	165	307	340
Poultry
Revenue from External Customer [Line Items]
Revenue	143	129	282	265
Fish
Revenue from External Customer [Line Items]
Revenue	25	24	48	46
Other
Revenue from External Customer [Line Items]
Revenue	19	20	35	41
Livestock
Revenue from External Customer [Line Items]
Revenue	724	734	1,431	1,504
Horses
Revenue from External Customer [Line Items]
Revenue	44	41	1,442	1,179
Horses
Revenue from External Customer [Line Items]
Revenue	754	630	85	82
Companion animal
Revenue from External Customer [Line Items]
Revenue	$ 798	$ 671	$ 1,527	$ 1,261

Revenue - Revenue by Product (D

Revenue - Revenue by Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Revenue	$ 1,547	$ 1,415	$ 3,002	$ 2,781
Vaccines
Revenue from External Customer [Line Items]
Revenue	370	371	728	727
Anti-infectives
Revenue from External Customer [Line Items]
Revenue	293	286	579	583
Other pharmaceuticals
Revenue from External Customer [Line Items]
Revenue	372	337	721	656
Parasiticides
Revenue from External Customer [Line Items]
Revenue	266	245	497	436
Medicated feed additives
Revenue from External Customer [Line Items]
Revenue	115	114	227	251
Animal health diagnostics
Revenue from External Customer [Line Items]
Revenue	65	12	125	23
Other non-pharmaceuticals
Revenue from External Customer [Line Items]
Revenue	41	40	81	89
Total products and services
Revenue from External Customer [Line Items]
Revenue	$ 1,522	$ 1,405	$ 2,958	$ 2,765

Restructuring Charges and Oth_3

Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Exit costs	[1],[2]	$ 0	$ 1	$ 0	$ 1
Total Restructuring charges and certain acquisition-related costs		22	5	27	7
Restructuring charges (reversals)				18
Restructuring Reserve [Roll Forward]
Restructuring accrual balance	[3]			45
Provision				18
Utilization and other	[4]			(25)
Restructuring accrual balance	[3]	38		38
Other current liabilities
Restructuring Reserve [Roll Forward]
Accrued expenses		12		12		$ 27
Other Noncurrent Liabilities
Restructuring Reserve [Roll Forward]
Other noncurrent liabilities		26		26		$ 18
Employee Termination Costs
Restructuring Cost and Reserve [Line Items]
Employee termination costs	[1],[2]	14	4	18	5
International
Restructuring Cost and Reserve [Line Items]
Restructuring charges (reversals)				4	4
Restructuring Reserve [Roll Forward]
Provision				4	4
Manufacturing, Research, Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges (reversals)		14	1	18	2
Restructuring Reserve [Roll Forward]
Provision		14	1	18	2
Direct Cost
Restructuring Cost and Reserve [Line Items]
Integration costs	[5]	8	0	$ 9	1
Reconciling Items
Restructuring Cost and Reserve [Line Items]
Employee termination costs			$ (1)		$ (1)
Zoetis Initiatives | Reconciling Items
Restructuring Cost and Reserve [Line Items]
Restructuring and Other Cost Productivity Charges		$ 5
[1]	The restructuring charges are associated with the following: • For the three months ended June 30, 2019 , Manufacturing/research/corporate of $14 million . • For the three months ended June 30, 2018 , International of $4 million and Manufacturing/research/corporate of $1 million . • For the six months ended June 30, 2019 , Manufacturing/research/corporate of $18 million . • For the six months ended June 30, 2018 , International of $4 million and Manufacturing/research/corporate of $2 million .
[2]	The restructuring charges for the three and six months ended June 30, 2019 primarily relate to the acquisition of Abaxis. The restructuring charges for the three and six months ended June 30, 2018 primarily relate to employee termination costs in Europe as a result of initiatives to better align our organizational structure and employee termination costs and exit costs as a result of our operational efficiency initiative and supply network strategy initiative.
[3]	At June 30, 2019 , and December 31, 2018 , included in Accrued expenses ( $12 million and $27 million , respectively) and Other noncurrent liabilities ( $26 million and $18 million
[4]	Includes adjustments for foreign currency translation.
[5]	Integration costs represent external, incremental costs directly related to integrating acquired businesses and primarily include expenditures for consulting and the integration of systems and processes, as well as product transfer costs.

Other (Income)_Deductions - N_3

Other (Income)/Deductions - Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Royalty-related income	$ (3)	$ (6)	$ (8)		$ (13)
Interest income	(9)	(8)	(19)		(14)
Foreign currency loss	7	9	7	[1]	17	[1]
Other, net	(1)	1	0		1
Other (income)/deductions—net	$ (6)	$ (4)	$ (20)		$ (9)
[1]	Primarily driven by costs related to hedging and exposures to certain emerging market currencies.

Income Taxes - Taxes on Income

Income Taxes - Taxes on Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Contingency [Line Items]
Effective tax rate for income from continuing operations	18.50%	12.60%	18.30%	14.30%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 8	$ 33	$ 16	$ 35
Share-based Payments
Income Tax Contingency [Line Items]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 2	$ 1	15	8
Change in Non-U.S. Statutory Tax Rates
Income Tax Contingency [Line Items]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			$ 4	$ 8

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net deferred income tax liability	$ 386	$ 413
Noncurrent deferred tax assets	60	61
Noncurrent deferred tax liabilities	$ 446	$ 474

Income Taxes - Tax Contingencie

Income Taxes - Tax Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Liabilities associated with uncertain tax positions	$ 177	$ 185
Unrecognized tax benefits, income tax penalties and interest accrued	11	11
Noncurrent Deferred Tax Assets
Income Tax Contingency [Line Items]
Liabilities associated with uncertain tax positions	3	3
Other Taxes Payable
Income Tax Contingency [Line Items]
Liabilities associated with uncertain tax positions	$ 174	$ 182

Financial Instruments - Credit

Financial Instruments - Credit Facilities (Details)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 27, 2018
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 73,000,000
Revolving credit facility, minimum interest coverage ratio	3.50
Line of credit facility	$ 0	$ 0
Commercial Paper	0	$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum total leverage ratio			3.50
Revolving credit facility, current borrowing capacity	1,000,000,000
Line of credit facility, maximum borrowing capacity	$ 1,500,000,000
Revolving credit facility, covenant compliance ratio	3.50
Maximum total leverage ratio	4
Revolving credit facility, minimum interest coverage ratio			3.50

Financial Instruments - Commerc

Financial Instruments - Commercial Paper Program (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Feb. 28, 2013
Short-term Debt [Line Items]
Interest expense, net of capitalized interest	$ 55,000,000	$ 46,000,000	$ 111,000,000	$ 93,000,000
Short-term Debt, Fair Value					$ 9,000,000
Line of credit facility	0		0		0
Commercial Paper	$ 0		$ 0		$ 0
Commercial Paper
Short-term Debt [Line Items]
Capacity of commercial paper program						$ 1,000,000,000

Financial Instruments - Senior

Financial Instruments - Senior Notes Offering and Other Long-Term Debt (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Aug. 20, 2018	Oct. 31, 2017	Sep. 12, 2017	Nov. 13, 2015	Jan. 28, 2013
Debt Instrument [Line Items]
Commercial Paper	$ 0	$ 0
Debt, principal amount	6,500,000,000	6,500,000,000
Senior Notes
Debt Instrument [Line Items]
Debt, principal amount			$ 1,500,000,000		$ 1,250,000,000	$ 1,250,000,000	$ 3,650,000,000
Debt, unamortized discount			4,000,000		$ 7,000,000	$ 2,000,000	$ 10,000,000
Debt, purchase price percent due to downgrade of investment grade							101.00%
Senior Notes | 2018 floating senior notes due 2021
Debt Instrument [Line Items]
Debt, principal amount	300,000,000	300,000,000	300,000,000
Senior Notes | 3.250% 2018 senior notes due 2021
Debt Instrument [Line Items]
Debt, principal amount	300,000,000	300,000,000	$ 300,000,000
Interest rate percentage			3.25%
Senior Notes | 3.000% 2017 senior notes due 2027
Debt Instrument [Line Items]
Debt, principal amount	750,000,000	750,000,000
Interest rate percentage					3.00%
Senior Notes | 3.900% 2018 senior notes due 2028
Debt Instrument [Line Items]
Debt, principal amount	500,000,000	500,000,000	$ 500,000,000
Interest rate percentage			3.90%
Senior Notes | 3.950% 2017 senior notes due 2047
Debt Instrument [Line Items]
Debt, principal amount	500,000,000	500,000,000
Interest rate percentage					3.95%
Senior Notes | 4.450% 2018 senior notes due 2048
Debt Instrument [Line Items]
Debt, principal amount	$ 400,000,000	$ 400,000,000	$ 400,000,000
Interest rate percentage			4.45%
Senior Notes | Senior notes due 2018
Debt Instrument [Line Items]
Interest rate percentage							1.875%
Long-term debt current portion				$ 750,000,000
Make whole premium and accrued interest				$ 4,000,000

Financial Instruments - Schedul

Financial Instruments - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Aug. 20, 2018	Sep. 12, 2017	Nov. 13, 2015	Jan. 28, 2013
Debt Instrument [Line Items]
Total long-term debt	$ 6,500		$ 6,500		$ 6,500
Unamortized debt discount / debt issuance costs	(54)		(54)		(57)
Long-term debt, net of discount and issuance costs	6,446		6,446		6,443
Interest expense, net of capitalized interest	55	$ 46	111	$ 93
Capitalized interest	6	$ 2	3	$ 4
Senior Notes
Debt Instrument [Line Items]
Total long-term debt						$ 1,500	$ 1,250	$ 1,250	$ 3,650
Senior Notes | 3.450% 2015 senior notes due 2020
Debt Instrument [Line Items]
Interest rate percentage								3.45%
Total long-term debt	500		500		500
Senior Notes | 2018 floating senior notes due 2021
Debt Instrument [Line Items]
Total long-term debt	300		300		300	$ 300
Senior Notes | 3.250% 2018 senior notes due 2021
Debt Instrument [Line Items]
Interest rate percentage						3.25%
Total long-term debt	300		300		300	$ 300
Senior Notes | 3.250% 2013 senior notes due 2023
Debt Instrument [Line Items]
Interest rate percentage									3.25%
Total long-term debt	1,350		1,350		1,350
Senior Notes | 4.500% 2015 senior notes due 2025
Debt Instrument [Line Items]
Interest rate percentage								4.50%
Total long-term debt	750		750		750
Senior Notes | 3.000% 2017 senior notes due 2027
Debt Instrument [Line Items]
Interest rate percentage							3.00%
Total long-term debt	750		750		750
Senior Notes | 3.900% 2018 senior notes due 2028
Debt Instrument [Line Items]
Interest rate percentage						3.90%
Total long-term debt	500		500		500	$ 500
Senior Notes | 4.700% 2013 senior notes due 2043
Debt Instrument [Line Items]
Interest rate percentage									4.70%
Total long-term debt	1,150		1,150		1,150
Senior Notes | 3.950% 2017 senior notes due 2047
Debt Instrument [Line Items]
Interest rate percentage							3.95%
Total long-term debt	500		500		500
Senior Notes | 4.450% 2018 senior notes due 2048
Debt Instrument [Line Items]
Interest rate percentage						4.45%
Total long-term debt	$ 400		$ 400		$ 400	$ 400

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Senior Notes | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Fair value, debt instrument	$ 6,940	$ 6,474

Financial Instruments - Long-te

Financial Instruments - Long-term Debt Maturity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Aug. 20, 2018	Oct. 31, 2017	Sep. 12, 2017	Nov. 13, 2015	Jan. 28, 2013
Debt Instrument [Line Items]
2019	$ 500		$ 500
2020	600		600
2021	0		0
2022	1,350		1,350
After 2022	4,050		4,050
Total long-term debt	6,500		6,500		$ 6,500
Interest expense, net of capitalized interest	55	$ 46	111	$ 93
Capitalized interest	$ 6	$ 2	$ 3	$ 4
Senior Notes
Debt Instrument [Line Items]
Total long-term debt						$ 1,500		$ 1,250	$ 1,250	$ 3,650
Senior Notes | Senior notes due 2018
Debt Instrument [Line Items]
Long-term debt current portion							$ 750

Financial Instruments - Investm

Financial Instruments - Investments (Details) - USD ($) $ in Millions		Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Debt Securities		$ 25	$ 101
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax		0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		0	0
Debt Securities, Available-for-sale		25	101
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value	[1]	25	99
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	[1]	0	2
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Years, Fair Value	[1]	0	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	[1]	25	101
Municipal Bonds
Debt Securities, Available-for-sale [Line Items]
Debt Securities		1	1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax		0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		0	0
Debt Securities, Available-for-sale		1	1
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value	[1]	1	1
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	[1]	0	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Years, Fair Value	[1]	0	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	[1]	1	1
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Debt Securities		24	100
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax		0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax		0	0
Debt Securities, Available-for-sale		24	100
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value	[1]	24	98
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	[1]	0	2
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Years, Fair Value	[1]	0	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	[1]	$ 24	$ 100
[1]	Long term investments are included in Other noncurrent assets .

Financial Instruments - Foreign

Financial Instruments - Foreign Exchange Risk (Details) € in Millions, SFr in Millions, $ in Billions	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019EUR (€)	Jun. 30, 2019CHF (SFr)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Jan. 28, 2013
Senior Notes | Senior notes due 2018
Derivative [Line Items]
Interest rate percentage						1.875%
Cross-currency interest rate swap contracts
Derivative [Line Items]
Derivative notional amount		€ 507	SFr 25		€ 400
Derivatives Not Designated as Hedging Instruments | Foreign Exchange Contract
Derivative [Line Items]
Derivative notional amount	$ 1.2			$ 1.3
Maturity period (in days)	60 days
Derivatives Not Designated as Hedging Instruments | Maximum | Foreign Exchange Contract
Derivative [Line Items]
Maturity period (in days)	1 year

Financial Instruments - Fair _2

Financial Instruments - Fair Value of Derivative Instruments (Details) € in Millions, SFr in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019EUR (€)	Jun. 30, 2019CHF (SFr)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)
Derivatives, Fair Value [Line Items]
Total derivatives	$ 18		$ 18				$ 10
Foreign currency forward-exchange contracts | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Foreign currency forward-exchange contracts	8	$ 10	4	$ 0
Derivative notional amount	1,200		1,200				1,300
Total derivatives	3		3				(1)
Foreign currency forward-exchange contracts | Derivatives Not Designated as Hedging Instruments | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	9		9				6
Foreign currency forward-exchange contracts | Derivatives Not Designated as Hedging Instruments | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	(6)		(6)				(7)
Cross-currency interest rate swap contracts
Derivatives, Fair Value [Line Items]
Derivative notional amount					€ 507	SFr 25		€ 400
Cross-currency interest rate swap contracts | Derivatives Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Unrecognized net gains/(losses) on cross-currency interest rate swap contracts, recorded, net of tax	(4)	1	14	1
Gain (Loss) on Components Excluded from Assessment of Interest Rate Fair Value Hedge Effectiveness	4	$ 1	8	$ 1
Total derivatives	15		15				11
Cross-currency interest rate swap contracts | Derivatives Designated as Hedging Instruments: | Other current assets
Derivatives, Fair Value [Line Items]
Total derivatives	3		3				3
Cross-currency interest rate swap contracts | Derivatives Designated as Hedging Instruments: | Other current liabilities
Derivatives, Fair Value [Line Items]
Total derivatives	(2)		(2)				0
Cross-currency interest rate swap contracts | Derivatives Designated as Hedging Instruments: | Other non-current assets
Derivatives, Fair Value [Line Items]
Total derivatives	$ 14		$ 14				$ 8

Financial Instruments - Interes

Financial Instruments - Interest Rate Risk (Details) € in Millions, SFr in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)swap	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)swap	Jun. 30, 2018USD ($)	Jun. 30, 2019EUR (€)swap	Jun. 30, 2019CHF (SFr)swap	Dec. 31, 2018USD ($)swap	Dec. 31, 2018EUR (€)swap	Jan. 28, 2013
Cross-currency interest rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount					€ 507	SFr 25		€ 400
Derivatives Not Designated as Hedging Instruments | Foreign currency forward-exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 1,200		$ 1,200				$ 1,300
Foreign currency forward-exchange contracts	8	$ 10	4	$ 0
Derivatives Designated as Hedging Instruments: | Cross-currency interest rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrecognized net gains/(losses) on cross-currency interest rate swap contracts, recorded, net of tax	$ (4)	$ 1	$ 14	$ 1
Derivatives Designated as Hedging Instruments: | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Number of Instruments Held | swap	0		0		0	0	0	0
Senior Notes | Senior notes due 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate percentage									1.875%

Financial Instruments Cross-cur

Financial Instruments Cross-currency interest rate swap contracts (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cross-currency interest rate swap contracts | Derivatives Designated as Hedging Instruments:
Foreign Currency Fair Value Hedge Derivative [Line Items]
Gain (Loss) on Components Excluded from Assessment of Interest Rate Fair Value Hedge Effectiveness	$ 4	$ 1	$ 8	$ 1

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 10	$ 19
Variable lease payments not included in the measurement of lease liabilities	4	8
Short-term lease payments not included in the measurement of lease liabilities	3	6
Cash paid for amounts included in the measurement of lease liabilities	10	19
Lease obligations obtained in exchange for right-of-use assets (non-cash)	47	223
Operating lease right of use assets	195	195		$ 0
Operating lease liabilities - current	36	36
Operating lease liabilities - noncurrent	169	169		$ 0
Total operating lease liabilities	$ 205	$ 205
Weighted-average remaining lease term—operating leases (years)	7 years 4 months 13 days	7 years 4 months 13 days
Weighted-average discount rate—operating leases	3.75%	3.75%
2019	$ 22	$ 22
2020	40	40
2021	34	34
2022	30	30
2023	25	25
After 2023	85	85
Total Lease Payments	236	236
Less: Imputed Interest	$ (31)	$ (31)
2019			$ 38
2020			30
2021			24
2022			21
2023			15
After 2023			45
Total			173
Total rent expense			$ 45
Minimum
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease term—operating leases (years)	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease term—operating leases (years)	15 years	15 years

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 684	$ 744
Work-in-process	527	481
Raw materials and supplies	193	166
Inventories	$ 1,404	$ 1,391

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Millions		Jul. 31, 2018	Jun. 30, 2019
Goodwill [Roll Forward]
Beginning Balance			$ 2,519
Other	[1]		(14)
Ending Balance			2,505
United States (U.S.)
Goodwill [Roll Forward]
Beginning Balance			1,265
Other	[1]		0
Ending Balance			1,265
International
Goodwill [Roll Forward]
Beginning Balance			1,254
Other	[1]		(14)
Ending Balance			$ 1,240
Abaxis Inc
Goodwill [Roll Forward]
Goodwill, Acquired During Period	[2]	$ 977
[1]	Includes measurement period adjustments related to the acquisition of Abaxis and adjustments for foreign currency translation.
[2]	Goodwill represents the excess of consideration transferred over the of fair values of the assets acquired and liabilities assumed. It is allocated to our existing reportable segments and is primarily attributable to the future potential of the technology platforms, as well as cost and revenue synergies including market share capture, elimination of cost redundancies and gain of cost efficiencies, and intangible assets such as assembled workforce which are not separately recognizable. The primary strategic purpose of the acquisition was to enhance the company’s existing product portfolio by strengthening Zoetis’ presence in veterinary diagnostics. The goodwill recorded is not deductible for tax purposes.

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Gross goodwill		$ 3,041	$ 3,055
Accumulated goodwill impairment losses		$ 536	$ 536
Amortization of intangible assets	$ 51

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
		Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Jul. 31, 2018
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 894
Finite-lived intangible assets, gross carrying amount			2,675		$ 2,644
Finite-lived intangible assets, accumulated amortization			(1,017)		(906)
Finite-lived intangible assets, identifiable intangible assets, less accumulated amortization			1,658		1,738
Total indefinite-lived intangible assets			258		308
Intangible Assets, gross carrying amount			2,933		2,952
Identifiable intangible assets, less accumulated amortization			1,916		2,046
Amortization of intangible assets				$ 51
Brands
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets			37		37
Trademarks and Trade Names
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets			67		67
In Process Research and Development
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets			147		197
Product Rights
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Total indefinite-lived intangible assets			7		7
Developed Technology Rights
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 610
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			10 years
Finite-lived intangible assets, gross carrying amount	[1],[2]		$ 1,887		1,854
Finite-lived intangible assets, accumulated amortization	[1],[2]		(590)		(523)
Finite-lived intangible assets, identifiable intangible assets, less accumulated amortization	[1],[2]		1,297		1,331
Brands
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount			212		212
Finite-lived intangible assets, accumulated amortization			(160)		(154)
Finite-lived intangible assets, identifiable intangible assets, less accumulated amortization			52		58
Trademarks and Trade Names
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 104
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			20 years
Finite-lived intangible assets, gross carrying amount	[2]		$ 166		166
Finite-lived intangible assets, accumulated amortization	[2]		(54)		(51)
Finite-lived intangible assets, identifiable intangible assets, less accumulated amortization	[2]		112		115
Other Intangible Assets
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 180
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			4 years
Finite-lived intangible assets, gross carrying amount	[2]		$ 410		412
Finite-lived intangible assets, accumulated amortization	[2]		(213)		(178)
Finite-lived intangible assets, identifiable intangible assets, less accumulated amortization	[2]		$ 197		$ 234
Abaxis Inc
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Identifiable intangible assets	[3]					$ 894
Amortization of intangible assets		$ 31		$ 64
[1]
[2]	In connection with the acquisition of Abaxis in 2018, the company recorded $894 million of intangible assets, as shown in the table below, representing the fair value at the acquisition date. See Note 5. Acquisitions and Divestitures for additional information.
[3]	Identifiable intangible assets primarily consist of developed technology rights, customer relationships, and trademarks and tradenames. The fair value of identifiable intangible assets is determined using the income approach, which includes a forecast of expected future cash flows. For additional information regarding identifiable intangible assets, see Note 12. Goodwill and Other Intangible Assets .

Share-Based Payments - Narrativ

Share-Based Payments - Narrative (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, options granted, shares | shares	444,789
Share-based compensation, weighted average exercise price (in dollars per share)	$ 87.77
Share-based compensation, Options, weighted average grant date fair value (in dollars per share)	$ 21.82
Share-based compensation, risk free interest rate	2.57%
Share-based compensation, expected dividend rate	0.75%
Share-based compensation, expected volatility rate	23.08%
Share-based compensation, expected term	5 years 8 months 12 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, award vesting period	3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, award vesting period	3 years
Share-based compensation, granted, shares | shares	358,999
Share-based compensation, weighted average grant date fair value (in dollars per share)	$ 87.63
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, expected volatility rate	20.30%
Share-based compensation, award vesting period	3 years
Share-based compensation, granted, shares | shares	190,170
Share-based compensation, weighted average grant date fair value (in dollars per share)	$ 101.51
Performance Shares | PeerCompanies
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, expected volatility rate	25.30%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, target number of units percentage	0.00%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, target number of units percentage	200.00%

Share-Based Payments - Componen

Share-Based Payments - Components of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense—direct	$ 17	$ 11	$ 35	[1]	$ 22	[1]
Share-based Payment Arrangement, Accelerated Cost	2		4
Stock options / stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense—direct	2	3	5		5
RSUs / DSUs(a)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense—direct	12	6	24	[2]	13	[2]
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense—direct	3	$ 2	6		$ 4
Abaxis Inc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense—direct	$ 4		$ 9
[1]	mounts capitalized to inventory were $1 million for both the three and six months ended June 30, 2019 and insignificant for both the three and six months ended June 30, 2018 .
[2]	For the three and six months ended June 30, 2019 , includes share-based compensation expense of $4 million and $9 million , respectively related to the acquisition of Abaxis, for the post-merger service period. For additional details, see Note 5. Acquisitions and Divestitures .

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Common Shares and Treasury Stock (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common stock, shares authorized		6,000,000,000		6,000,000,000		6,000,000,000
Preferred stock, shares authorized		1,000,000,000		1,000,000,000		1,000,000,000
Stock repurchase program, remaining authorized repurchase amount		$ 1		$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued, shares		501,890,000	501,890,000	501,891,243	501,890,000
Treasury stock, shares		22,870,000	17,170,000	22,328,917	15,760,000
Treasury stock acquired, shares		(1,440,000)	(2,550,000)	(3,120,000)	(4,950,000)
Common stock issued, shares		501,891,243	501,890,000	501,891,243	501,890,000
Treasury stock, shares		24,069,963	19,600,000	24,069,963	19,600,000
Share Repurchase Program
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock acquired, shares	[1]	(240,000)		(1,380,000)	(1,110,000)
December 2016 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount							$ 1,500
December 2018 Share Repurchase Program [Member]
Class of Stock [Line Items]
Stock repurchase program, authorized amount						$ 2,000
[1]

Stockholders' Equity - Change_2

Stockholders' Equity - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 2,317	$ 1,975	$ 2,185	$ 1,786
Other comprehensive income, net of tax	(71)	(115)	(40)	(38)
Ending balance	2,411	1,982	2,411	1,982
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(598)	(429)	(629)	(505)
Other comprehensive income, net of tax	(71)	(114)	(40)	(38)
Ending balance	(669)	(543)	(669)	(543)
Derivatives Net Unrealized Gains/ (Losses)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(4)	(3)
Other comprehensive income, net of tax			1	0
Ending balance	(3)	(3)	(3)	(3)
Net Investment Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			10	0
Other comprehensive income, net of tax			4	0
Ending balance	14	0	14	0
Currency Translation Adjustment Net Unrealized Gain/(Losses)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(621)	(487)
Other comprehensive income, net of tax			(45)	(38)
Ending balance	(666)	(525)	(666)	(525)
Benefit Plans Actuarial Gains/(Losses)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(14)	(15)
Other comprehensive income, net of tax			0	0
Ending balance	$ (14)	$ (15)	$ (14)	$ (15)

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator
Net income before allocation to noncontrolling interests	$ 371	$ 382	$ 683	$ 732
Less: Net loss attributable to noncontrolling interests	0	(2)	0	(4)
Net income attributable to Zoetis Inc.	$ 371	$ 384	$ 683	$ 736
Denominator
Weighted-average common shares outstanding	478.8	483.8	479.2	484.8
Common stock equivalents: stock options, RSUs, PSUs and DSUs	3.5	3.7	3.5	3.8
Weighted-average common and potential dilutive shares outstanding	482.3	487.5	482.7	488.6
Earnings per share attributable to Zoetis stockholders—basic (in dollars per share)	$ 0.77	$ 0.79	$ 1.43	$ 1.52
Earnings per share attributable to Zoetis stockholders—diluted (in dollars per share)	$ 0.77	$ 0.79	$ 1.41	$ 1.51
Stock options
Denominator
Antidilutive securities excluded from computation of earnings per share, amount			1

Commitments and Contingencies (

Commitments and Contingencies (Details) € in Millions, $ in Millions	May 16, 2016producer	Jun. 03, 2015count	Aug. 31, 2014animal	Apr. 30, 2012	Jun. 30, 2019customer	Jun. 19, 2013USD ($)	Jun. 19, 2013EUR (€)	Feb. 29, 2012defendant
Ulianopolis, Brazil
Loss Contingencies [Line Items]
Number of additional defendants | defendant								5
Number of claims seeking damages | defendant								6
Duration of suspension of lawsuit				1 year
Lasadoil
Loss Contingencies [Line Items]
Number of deaths from contamination of animal feed | animal			50,000
Number of contaminated animal from contamination of animal feed | animal			20,000
Number of complaints	2	1			3
European Commission
Loss Contingencies [Line Items]
Amount reimbursed by Pfizer						$ 14	€ 11

Segment Information (Details)

Segment Information (Details)	6 Months Ended
	Jun. 30, 2019segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information Selected St

Segment Information Selected Statement of Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenue		$ 1,547	$ 1,415	$ 3,002	$ 2,781
Cost of Sales		465	447	983	894
Other (income)/deductions—net		(6)	(4)	(20)	(9)
Income before provision for taxes on income	[1]	455	437	836	854
Depreciation and amortization	[1],[2]	98	63	196	123
Other business activities
Segment Reporting Information [Line Items]
Income before provision for taxes on income		(79)	(82)	(159)	(163)
Depreciation and amortization	[2]	6	6	11	11
Acquisition-related Costs [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	[2]	0	0
Operating Segments
Segment Reporting Information [Line Items]
Income before provision for taxes on income		873	771	1,710	1,527
Depreciation and amortization	[2]	21	20	44	39
Operating Segments | U.S.
Segment Reporting Information [Line Items]
Revenue		780	677	1,498	1,311
Cost of Sales		158	140	305	280
Gross Profit		$ 622	$ 537	$ 1,193	$ 1,031
Gross margin, percentage		79.70%	79.30%	79.60%	78.60%
Operating Expenses		$ 127	$ 116	$ 237	$ 212
Other (income)/deductions—net		0	0	0	0
Income before provision for taxes on income		495	421	956	819
Depreciation and amortization	[2]	9	8	19	16
Operating Segments | International
Segment Reporting Information [Line Items]
Revenue	[3]	742	728	1,460	1,454
Cost of Sales		218	229	428	463
Gross Profit		$ 524	$ 499	$ 1,032	$ 991
Gross margin, percentage		70.60%	68.50%	70.70%	68.20%
Operating Expenses		$ 146	$ 147	$ 278	$ 280
Other (income)/deductions—net		0	2	0	3
Income before provision for taxes on income		378	350	754	708
Depreciation and amortization	[2]	12	12	25	23
Corporate
Segment Reporting Information [Line Items]
Income before provision for taxes on income		(178)	(139)	(340)	(292)
Depreciation and amortization	[2]	16	14	30	27
Reconciling Items
Segment Reporting Information [Line Items]
Depreciation and amortization	[2]			0	0
Purchase accounting adjustments, Earnings		(58)	(23)	(124)	(46)
Purchase accounting adjustments, Depreciation and Amortization	[2]	55	22	110	45
Acquisition-related costs		(22)	0	(27)	(1)
Certain significant items, Earnings	[4]	(3)	(7)	(73)	(10)
Certain significant items, Depreciation and Amortization	[2],[4]	0	0	0	0
Other unallocated, Earnings		(78)	(83)	(151)	(161)
Other Unallocated, Depreciation and Amortization	[2]	$ 0	$ 1	$ 1	$ 1
[1]	Defined as income before provision for taxes on income.
[2]	Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized.
[3]	Revenue denominated in euros was $365 million and $375 million for the six months ended June 30, 2019 , and June 30, 2018
[4]	For the six months ended June 30, 2019 , primarily represents a change in estimate related to inventory costing of $68 million , and product transfer costs and consulting fees of $5 million related to our supply network strategy. For the six months ended June 30, 2018 , primarily represents: (i) employee termination costs of $1 million related to our operational efficiency initiative, (ii) consulting fees, employee termination costs and exit costs of $5 million related to our supply network strategy, and (iii) employee termination costs of $3 million in Europe as a result of initiatives to better align our organization structure, and (iv) a charge of $1 million related to the implementation of new accounting guidance as a result of the enactment of the Tax Act.

Segment Information Selected _2

Segment Information Selected Statement of Income Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenue		$ 1,547	$ 1,415	$ 3,002	$ 2,781
Inventory Adjustments		68		68
Charge related to implementation of new accounting guidance					1
Reconciling Items
Segment Reporting Information [Line Items]
Employee termination costs			1		1
Consulting fees and exit costs			3		5
International | Operating Segments
Segment Reporting Information [Line Items]
Revenue	[1]	742	728	1,460	1,454
International | Operating Segments | Euro Member Countries, Euro
Segment Reporting Information [Line Items]
Revenue		184	191	$ 365	375
Zoetis Initiatives | Reconciling Items
Segment Reporting Information [Line Items]
Restructuring and Other Cost Productivity Charges		$ 5
Europe | Reconciling Items
Segment Reporting Information [Line Items]
Employee termination costs			$ 3		$ 3
[1]	Revenue denominated in euros was $365 million and $375 million for the six months ended June 30, 2019 , and June 30, 2018