Zoetis Inc

The animal health medicines, vaccines and diagnostics market is characterized by meaningful differences in customer needs across different regions. This is due to a variety of factors, including:

•economic differences, such as standards of living in developed markets as compared to emerging markets;

•cultural differences, such as dietary preferences for different animal proteins, pet ownership preferences and pet care standards;

•epidemiological differences, such as the prevalence of certain bacterial and viral strains and disease dynamics;

•treatment differences, such as utilization of different types of medicines and vaccines, as well as the pace of adoption of new technologies;

•environmental differences, such as seasonality, climate and the availability of arable land and fresh water; and

•regulatory differences, such as standards for product approval and manufacturing.

As a result of these differences, among other things, we organize and operate our business in two segments:

•United States (U.S.) with revenue of $5,074 million, or 55% of total revenue for the year ended December 31, 2024; and

•International with revenue of $4,102 million, or 44% of total revenue for the year ended December 31, 2024.

Within each of these operating segments, we offer a diversified product portfolio for both companion animal and livestock customers so that we can capitalize on local trends and customer needs.

In addition, our Client Supply Services (CSS) organization which provides contract manufacturing services to third parties, and our human health products, together represented approximately 1% of our total revenue for the year ended December 31, 2024.

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Our 2024 revenue for the U.S. and key international markets, together with the percentage of revenue attributable to companion animal and livestock products in those markets, is as follows:

For additional information regarding our performance in each of our operating segments and the impact of foreign exchange rates, see Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements and Supplementary Data: Notes to Consolidated Financial Statements—Note 4. Revenueand Note 19. Segment Information. Our 2024 reported revenue for each segment, by species, is as follows:

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