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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents [1] $ 1,754 $ 3,581
Accounts receivable, less allowance for doubtful accounts of $18 in 2023 and $19 in 2022 1,257 1,215
Inventories 2,744 2,345
Other current assets 467 365
Total current assets 6,222 7,506
Property, plant and equipment, less accumulated depreciation of $2,529 in 2023 and $2,297 in 2022 3,092 2,753
Operating lease right of use assets 226 220
Goodwill 2,762 2,746
Identifiable intangible assets, less accumulated amortization 1,398 1,380
Noncurrent deferred tax assets 190 173
Other noncurrent assets 216 147
Total assets 14,106 14,925 Close
Liabilities and Equity    
Short-term borrowings 2 2
Current portion of long-term debt 0 1,350
Accounts payable 388 405
Dividends payable 0 174
Accrued expenses 693 682
Accrued compensation and related items 284 300
Income taxes payable 144 157
Other current liabilities 97 97
Total current liabilities 1,608 3,167
Long-term debt, net of discount and issuance costs 6,552 6,552
Noncurrent deferred tax liabilities 160 142
Operating lease liabilities 191 186
Other taxes payable 262 258
Other noncurrent liabilities 259 217
Total liabilities 9,032 10,522 Close
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Common stock, $0.01 par value: 6,000,000,000 authorized; 501,891,243 and 501,891,243 shares issued; 459,524,713 and 463,808,059 shares outstanding at September 30, 2023, and December 31, 2022, respectively 5 5
Treasury stock, at cost, 42,366,530 and 38,083,184 shares of common stock at September 30, 2023 and December 31, 2022, respectively (5,369) (4,539)
Additional paid-in capital 1,116 1,088
Retained earnings 10,140 8,668
Accumulated other comprehensive loss (814) (817)
Total Zoetis Inc. equity 5,078 4,405
Noncontrolling interests (4) (2)
Total equity 5,074 4,403 Close
Total liabilities and equity $ 14,106 $ 14,925
[1] As of September 30, 2023 and December 31, 2022, includes $3 million and $4 million of restricted cash, respectively.