10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Revenues: | |||
| Product sales | $ 7,389,921 | 6,469,311 | 5,084,796 |
| Royalty revenues | 545,970 | 491,818 | 218,180 |
| Contract and other revenues | 13,529 | 50,254 | 32,774 |
| Total revenues | 7,949,420 | 7,011,383 | 5,335,750 |
| Costs and expenses: | |||
| Cost of goods sold | 1,869,876 | 1,595,558 | 1,127,246 |
| Research and development | 1,072,930 | 939,918 | 721,768 |
| Selling, general and administrative | 1,044,392 | 946,686 | 797,344 |
| Purchased in-process research and development | 10,851 | ||
| Total costs and expenses | 3,987,198 | 3,482,162 | 2,657,209 |
| Income from operations | 3,962,222 | 3,529,221 | 2,678,541 |
| Interest and other income, net | 60,287 | 42,397 | 59,401 |
| Interest expense | (108,961) | (69,662) | (65,244) |
| Income before provision for income taxes | 3,913,548 | 3,501,956 | 2,672,698 |
| Provision for income taxes | 1,023,799 | 876,364 | 702,363 |
| Net income | 2,889,749 | 2,625,592 | 1,970,335 |
| Net loss attributable to noncontrolling interest | 11,508 | 10,163 | 8,564 |
| Net income attributable to Gilead | 2,901,257 | 2,635,755 | 1,978,899 |
| Net income per share attributable to Gilead common stockholders - basic | 3.39 | 2.91 | 2.15 |
| Shares used in per share calculation - basic | 856,060 | 904,604 | 920,693 |
| Net income per share attributable to Gilead common stockholders - diluted | 3.32 | 2.82 | 2.06 |
| Shares used in per share calculation - diluted | 873,396 | 934,109 | 958,825 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Operating activities: | |||
| Net income | $ 2,889,749 | 2,625,592 | 1,970,335 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 67,240 | 64,560 | 51,722 |
| Amortization expense | 198,237 | 148,384 | 103,888 |
| Purchased in-process research and development expense | 10,851 | ||
| Stock-based compensation expenses | 200,041 | 180,684 | 153,364 |
| In-process research and development impairment | 136,000 | ||
| Excess tax benefits from stock-based compensation | (81,620) | (80,186) | (191,939) |
| Tax benefits from employee stock plans | 82,086 | 88,368 | 209,519 |
| Deferred income taxes | 12,152 | (42,013) | (24,969) |
| Other non-cash transactions | 10,408 | 64,456 | (11,257) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (348,875) | (356,462) | (257,161) |
| Inventories | (161,190) | (75,266) | (330,726) |
| Prepaid expenses and other assets | (70,466) | (65,667) | 9,719 |
| Accounts payable | (4,453) | 203,641 | 312,568 |
| Income taxes payable | (185,733) | 166,334 | (23,887) |
| Accrued liabilities | 120,065 | 109,026 | 136,276 |
| Deferred revenues | (29,728) | 48,603 | 25,081 |
| Net cash provided by operating activities | 2,833,913 | 3,080,054 | 2,143,384 |
| Investing activities: | |||
| Purchases of marketable securities | (5,502,687) | (2,614,046) | (3,273,112) |
| Proceeds from sales of marketable securities | 3,033,893 | 1,440,509 | 3,026,459 |
| Proceeds from maturities of marketable securities | 683,927 | 435,510 | 193,690 |
| Acquisitions, net of cash acquired | (91,000) | (1,247,816) | (10,851) |
| Capital expenditures and other | (61,884) | (230,057) | (115,005) |
| Net cash used in investing activities | (1,937,751) | (2,215,900) | (178,819) |
| Financing activities: | |||
| Proceeds from issuances of convertible notes, net of issuance costs | 2,462,500 | ||
| Proceeds from sale of warrants | 155,425 | ||
| Purchases of convertible note hedges | (362,622) | ||
| Proceeds from credit facility | 500,000 | 400,000 | |
| Repayments of credit facility | (500,000) | (400,000) | |
| Proceeds from issuances of common stock | 221,223 | 222,728 | 246,125 |
| Repurchases of common stock | (4,022,593) | (998,495) | (1,969,582) |
| Extinguishment of long-term debt | (305,455) | ||
| Repayments of long-term obligations | (5,786) | (5,648) | (4,326) |
| Excess tax benefits from stock-based compensation | 81,620 | 80,186 | 191,939 |
| Distributions from (to) noncontrolling interest | 131,523 | (44,754) | 61,275 |
| Net cash used in financing activities | (1,338,710) | (1,051,438) | (1,474,569) |
| Effect of exchange rate changes on cash | 77,469 | 940 | 1,220 |
| Net change in cash and cash equivalents | (365,079) | (186,344) | 491,216 |
| Cash and cash equivalents at beginning of period | 1,272,958 | 1,459,302 | |
| Cash and cash equivalents at end of period | 907,879 | 1,272,958 | 1,459,302 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid | 15,748 | 8,990 | 7,388 |
| Income taxes paid | 1,129,577 | 746,224 | 495,544 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2010 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| Assets | ||
| Cash and cash equivalents | $ 907,879 | 1,272,958 |
| Short-term marketable securities | 1,190,789 | 384,017 |
| Accounts receivable, net of allowances of $150,942 at December 31, 2010 and $132,810 at December 31, 2009 | 1,621,966 | 1,389,534 |
| Inventories | 1,203,809 | 1,051,771 |
| Deferred tax assets | 279,339 | 295,080 |
| Prepaid taxes | 320,424 | 274,196 |
| Prepaid expenses | 67,632 | 78,111 |
| Other current assets | 116,244 | 66,891 |
| Total current assets | 5,708,082 | 4,812,558 |
| Property, plant and equipment, net | 701,235 | 699,970 |
| Noncurrent portion of prepaid royalties | 203,790 | 226,250 |
| Noncurrent deferred tax assets | 153,379 | 101,498 |
| Long-term marketable securities | 3,219,403 | 2,247,871 |
| Intangible assets | 1,425,592 | 1,524,777 |
| Other noncurrent assets | 181,149 | 85,635 |
| Total assets | 11,592,630 | 9,698,559 |
| Liabilities and Stockholders' Equity | ||
| Accounts payable | 803,025 | 810,544 |
| Accrued government rebates | 325,018 | 248,660 |
| Accrued compensation and employee benefits | 147,632 | 132,481 |
| Income taxes payable | 1,862 | 167,623 |
| Other accrued liabilities | 437,893 | 384,015 |
| Deferred revenues | 103,175 | 122,721 |
| Current portion of convertible senior notes, net and other long-term obligations | 646,345 | 5,587 |
| Total current liabilities | 2,464,950 | 1,871,631 |
| Long-term deferred revenues | 32,844 | 43,026 |
| Convertible senior notes, net | 2,838,573 | 1,155,443 |
| Long-term income taxes payable | 107,025 | 87,383 |
| Other long-term obligations | 27,401 | 35,918 |
| Commitments and contingencies (Note 12) | ||
| Stockholders' equity: | ||
| Preferred stock, par value $0.001 per share; 5,000 shares authorized; none outstanding | ||
| Common stock, par value $0.001 per share; 2,800,000 shares authorized; 801,998 and 899,753 shares issued and outstanding at December 31, 2010 and 2009, respectively | 802 | 900 |
| Additional paid-in capital | 4,648,286 | 4,376,651 |
| Accumulated other comprehensive income (loss) | 30,911 | (5,758) |
| Retained earnings | 1,183,730 | 1,995,272 |
| Total Gilead stockholders' equity | 5,863,729 | 6,367,065 |
| Noncontrolling interest | 258,108 | 138,093 |
| Total stockholders' equity | 6,121,837 | 6,505,158 |
| Total liabilities and stockholders' equity | 11,592,630 | 9,698,559 |
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |