Zoetis Inc. ZTS Cash Flow

Zoetis inc. (ZTS)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Operating Activities
Net income
423,000	384,000	433,000	371,000	312,000	345,000	347,000	382,000	350,000	80,000	296,000	247,000	239,000	154,000	237,000	224,000	204,000	20,000	190,000	-36,000	165,000	126,000	167,000	139,000	155,000	104,000	131,000	128,000	140,000	-10,000	161,000	173,000	112,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense
110,000	109,000	107,000	98,000	98,000	101,000	84,000	63,000	60,000	63,000	58,000	59,000	62,000	63,000	60,000	60,000	57,000	55,000	46,000	50,000	48,000	53,000	50,000	51,000	50,000	58,000	49,000	51,000	51,000	44,000	54,000	54,000	48,000
Share-based compensation expense
16,000	16,000	16,000	17,000	18,000	17,000	14,000	11,000	11,000	11,000	11,000	11,000	11,000	9,000	9,000	10,000	9,000	12,000	10,000	11,000	10,000	10,000	9,000	8,000	5,000	6,000	6,000	20,000	11,000	10,000	6,000	6,000	6,000
Restructuring
-	-	-	-	-	-	-	-	-	-	1,000	0	-1,000	-	4,000	-21,000	2,000	-4,000	-18,000	225,000	0	-	-	-	-	-	-	-	-	-	-	-	-
Asset write-offs and asset impairments
0	1,000	5,000	0	1,000	0	-3,000	5,000	2,000	2,000	1,000	0	0	-	-	-	-	12,000	10,000	37,000	1,000	2,000	7,000	1,000	0	11,000	1,000	0	3,000	1,000	3,000	5,000	1,000
Net gain on sale of assets
17,000	-	-	-	0	-	-	-	-	-	-	-	-	-1,000	0	-6,000	33,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Provision for losses on inventory
13,000	24,000	15,000	15,000	14,000	17,000	12,000	9,000	16,000	8,000	6,000	24,000	16,000	40,000	30,000	19,000	16,000	35,000	22,000	19,000	18,000	-	-	-	-	-	-	-	-	-	-	-	-
Deferred taxes
-9,000	-49,000	-8,000	-6,000	-16,000	43,000	0	-14,000	-141,000	130,000	-16,000	-11,000	24,000	-3,000	-69,000	42,000	-25,000	-4,000	-8,000	-70,000	-3,000	11,000	-56,000	-6,000	2,000	70,000	-28,000	-26,000	7,000	7,000	-55,000	-17,000	-9,000
Employee benefit plan contribution from Pfizer Inc.
1,000	1,000	1,000	0	1,000	1,000	1,000	0	1,000	1,000	1,000	0	1,000	1,000	1,000	0	1,000	1,000	1,000	0	1,000	0	1,000	1,000	0	-	-	-	-	-	-	-	-
Other non-cash adjustments
-	-	-	-	-	-3,000	28,000	-8,000	-3,000	1,000	-11,000	4,000	-4,000	-6,000	-4,000	-8,000	-1,000	1,000	-2,000	-6,000	-3,000	-5,000	0	11,000	-3,000	10,000	-1,000	2,000	-1,000	-5,000	-1,000	4,000	-1,000
Other changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable
-109,000	51,000	47,000	46,000	-75,000	104,000	-46,000	69,000	-60,000	-8,000	17,000	19,000	22,000	29,000	9,000	-32,000	-21,000	-92,000	79,000	67,000	4,000	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
97,000	1,000	53,000	67,000	-17,000	-32,000	-52,000	-10,000	33,000	-54,000	-11,000	-6,000	52,000	-32,000	46,000	84,000	3,000	61,000	30,000	94,000	77,000	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
65,000	12,000	4,000	59,000	-24,000	-35,000	14,000	61,000	2,000	-116,000	26,000	93,000	13,000	-3,000	-19,000	36,000	36,000	-55,000	34,000	25,000	5,000	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-35,000	18,000	-6,000	57,000	-79,000	76,000	-11,000	18,000	-46,000	46,000	10,000	-29,000	-37,000	28,000	15,000	13,000	-84,000	-13,000	32,000	24,000	-26,000	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-128,000	159,000	51,000	-16,000	-103,000	87,000	44,000	-20,000	-55,000	69,000	40,000	0	-147,000	1,000	-37,000	-61,000	-193,000	107,000	23,000	22,000	-82,000	-	-	-	-	-	-	-	-	-	-	-	-
Other tax accounts, net
87,000	-16,000	27,000	-46,000	27,000	-27,000	6,000	-75,000	163,000	12,000	52,000	-13,000	34,000	-38,000	19,000	-75,000	114,000	-34,000	37,000	20,000	11,000	-	-	-	-	-	-	-	-	-	-	-	-
Other changes in assets and liabilities, net of acquisitions and divestitures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	238,000	-	47,000	183,000	-68,000	-	96,000	143,000	163,000
Net cash provided by operating activities
408,000	582,000	506,000	318,000	389,000	584,000	550,000	267,000	389,000	608,000	439,000	180,000	119,000	286,000	239,000	137,000	51,000	278,000	204,000	122,000	60,000	387,000	103,000	159,000	-23,000	298,000	114,000	-12,000	281,000	310,000	74,000	74,000	-4,000
Investing Activities
Capital expenditures
94,000	166,000	128,000	103,000	63,000	138,000	74,000	73,000	53,000	83,000	48,000	51,000	42,000	60,000	57,000	54,000	45,000	81,000	52,000	46,000	45,000	51,000	42,000	42,000	45,000	49,000	55,000	58,000	22,000	45,000	26,000	24,000	31,000
Acquisition of Abaxis, net of cash acquired
-	-	-	-	-	-	-	-	-	0	-3,000	0	3,000	-	68,000	8,000	12,000	654,000	0	-1,000	230,000	0	0	0	0	-	-	-	-	-	-	-	-
Other acquisitions
6,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities and redemptions of investments
0	12,000	13,000	40,000	36,000	28,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds on swaps designated as net investment hedges
24,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from sale of assets
20,000	1,000	20,000	0	0	48,000	0	0	8,000	36,000	0	1,000	0	1,000	1,000	13,000	75,000	0	0	1,000	1,000	1,000	1,000	7,000	0	-	-	-	-	-	-	-	-
Other investing activities
1,000	2,000	14,000	-4,000	-4,000	8,000	-4,000	3,000	0	7,000	1,000	-10,000	3,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	4,000	5,000	1,000	2,000
Net cash used in investing activities
-57,000	-213,000	-209,000	-59,000	-23,000	-74,000	-2,064,000	-76,000	-45,000	-54,000	-128,000	-40,000	-48,000	-59,000	-124,000	-49,000	18,000	-737,000	-60,000	-44,000	-274,000	-50,000	-42,000	-50,000	-45,000	-51,000	-54,000	-52,000	-22,000	-46,000	-30,000	-26,000	-33,000
Financing Activities
Decrease in short-term borrowings, net
0	0	0	0	-9,000	8,000	0	0	0	-	-	-	-	0	-4,000	0	-1,000	-4,000	4,000	3,000	-5,000	-3,000	-3,000	-3,000	1,000	5,000	-1,000	6,000	6,000	0	0	0	0
Payment of contingent consideration related to previously acquired assets
0	-	-	-	8,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	400,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of long-term debt—senior notes, net of discount and fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,000	0	2,624,000	0	0	0	0
Payment of contingent consideration related to previously acquired assets
-	-	-	-	-	0	0	0	12,000	2,000	0	0	5,000	4,000	6,000	0	22,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation-related proceeds, net of taxes paid on withholding shares
17,000	5,000	-3,000	2,000	3,000	5,000	8,000	4,000	2,000	4,000	2,000	12,000	6,000	1,000	7,000	14,000	3,000	7,000	2,000	1,000	1,000	0	1,000	1,000	0	-	-	-	-	-	-	-	-
Purchases of treasury stock
250,000	176,000	150,000	150,000	150,000	150,000	143,000	215,000	190,000	125,000	125,000	125,000	125,000	75,000	74,000	75,000	76,000	53,000	50,000	52,000	48,000	0	0	0	0	-	-	-	-	-	-	-	-
Consideration paid to Pfizer Inc. in connection with the Separation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	102,000	2,457,000	0	0	0	0
Cash dividends paid
95,000	79,000	78,000	78,000	79,000	60,000	61,000	60,000	62,000	51,000	52,000	51,000	52,000	47,000	47,000	47,000	47,000	41,000	42,000	43,000	42,000	37,000	36,000	37,000	36,000	33,000	32,000	33,000	0	0	1,000	10,000	52,000
Other net financing activities with Pfizer Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	97,000	-281,000	-78,000	-17,000	-43,000	123,000
Net cash used in financing activities
-328,000	-250,000	-232,000	-226,000	-243,000	-197,000	1,263,000	-271,000	-262,000	-967,000	956,000	-64,000	-176,000	-128,000	-124,000	-108,000	-543,000	1,026,000	-86,000	-91,000	-94,000	-42,000	-38,000	-39,000	-35,000	-28,000	-32,000	-32,000	-108,000	-78,000	-18,000	-53,000	71,000
Effect of exchange-rate changes on cash and cash equivalents
-6,000	-	-	-	3,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase in cash and cash equivalents
17,000	-	-	-	126,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange-rate changes on cash and cash equivalents
-	-	-	-	-	3,000	-21,000	-16,000	8,000	-4,000	9,000	0	7,000	-23,000	2,000	3,000	-5,000	-5,000	-10,000	-2,000	-15,000	-11,000	-3,000	2,000	-1,000	2,000	-8,000	-3,000	0	-2,000	1,000	-2,000	0
Net increase in cash and cash equivalents
-	-	-	-	-	316,000	-272,000	-96,000	90,000	-417,000	1,276,000	76,000	-98,000	76,000	-7,000	-17,000	-479,000	562,000	48,000	-15,000	-323,000	284,000	20,000	72,000	-104,000	221,000	20,000	-99,000	151,000	184,000	27,000	-7,000	34,000
Supplemental cash flow information
Cash paid during the period for:
Income taxes
22,000	125,000	81,000	183,000	29,000	46,000	69,000	179,000	42,000	89,000	110,000	219,000	37,000	113,000	80,000	166,000	49,000	49,000	54,000	69,000	52,000	68,000	123,000	74,000	13,000	57,000	51,000	17,000	9,000	0	129,000	79,000	68,000
Interest, net of capitalized interest
95,000	27,000	97,000	27,000	96,000	24,000	70,000	26,000	70,000	29,000	56,000	26,000	56,000	25,000	56,000	26,000	58,000	0	58,000	1,000	58,000	1,000	60,000	-2,000	59,000	0	60,000	0	0	0	8,000	14,000	9,000
Non-cash transactions:
Capital expenditures
2,000	2,000	-4,000	4,000	5,000	4,000	0	2,000	1,000	-1,000	3,000	-1,000	4,000	-8,000	10,000	-3,000	9,000	-1,000	-5,000	7,000	10,000	9,000	0	0	0	-	-	-	-	-	-	-	-
Other Significant Noncash Transaction, Value of Consideration Given
-	-	-	-	-	-	-	-	-	-	-	-	2,000	-2,000	2,000	0	27,000	1,000	0	0	22,000	0	0	0	0	-	-	-	-	-	-	-	-
Zoetis Inc. senior notes transferred to Pfizer Inc. in connection with the Separation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	992,000	0	0	0	0