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: 2013 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues [Abstract] | |||
| Product sales | $ 10,803,695 | 9,398,371 | 8,102,359 |
| Royalty revenues | 383,849 | 290,523 | 268,827 |
| Contract and other revenues | 14,144 | 13,623 | 14,199 |
| Total revenues | 11,201,688 | 9,702,517 | 8,385,385 |
| Costs and Expenses [Abstract] | |||
| Cost of goods sold | 2,858,502 | 2,471,363 | 2,124,410 |
| Research and development expenses | 2,119,756 | 1,759,945 | 1,229,151 |
| Selling, general and administrative expenses | 1,699,431 | 1,461,034 | 1,241,983 |
| Total costs and expenses | 6,677,689 | 5,692,342 | 4,595,544 |
| Income from operations | 4,523,999 | 4,010,175 | 3,789,841 |
| Interest expense | (306,894) | (360,916) | (205,418) |
| Other income (expense), net | (8,886) | (37,279) | 66,581 |
| Income before provision for income taxes | 4,208,219 | 3,611,980 | 3,651,004 |
| Provision for income taxes | 1,150,933 | 1,038,381 | 861,945 |
| Net income | 3,057,286 | 2,573,599 | 2,789,059 |
| Net loss attributable to noncontrolling interest | 17,522 | 17,967 | 14,578 |
| Net income attributable to Gilead | 3,074,808 | 2,591,566 | 2,803,637 |
| Net Income Per Share Attributable to Gilead Common Stockholders - Basic (usd per share) | 2.01 | 1.71 | 1.81 |
| Shares Used in Per Share Calculation-Basic (shares) | 1,528,620 | 1,514,621 | 1,549,806 |
| Net Income Per Share Attributable to Gilead Common Stockholders - Diluted (usd per share) | 1.81 | 1.64 | 1.77 |
| Shares Used in Per Share Calculation - Diluted (shares) | 1,694,747 | 1,582,549 | 1,580,236 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income | $ 3,057,286 | 2,573,599 | 2,789,059 |
| Other Comprehensive Income (Loss) [Abstract] | |||
| Net foreign currency translation gain (loss) | (44,440) | 11,076 | (5,264) |
| Available-for-sale Securities [Abstract] | |||
| Net unrealized gain (loss), net of tax impact of $3,741, $(703) and $(3,305) | 4,867 | 1,242 | (24,067) |
| Reclassifications to net income, net of tax impact of $(262), $849 and $(11,114) | (462) | 33,008 | (19,209) |
| Net change | 4,405 | 34,250 | (43,276) |
| Cash Flow Hedges [Abstract] | |||
| Net unrealized gain (loss), net of tax impact of $4,345, $1,566 and $(93) | (59,653) | (62,505) | 1,571 |
| Reclassification to net income, net of tax impact of $(1,193), $(2,171) and $4,389 | 20,857 | (86,636) | 74,258 |
| Net change | (38,796) | (149,141) | 75,829 |
| Other comprehensive income (loss) | (78,831) | (103,815) | 27,289 |
| Comprehensive income | 2,978,455 | 2,469,784 | 2,816,348 |
| Comprehensive loss attributable to noncontrolling interest | 17,522 | 17,967 | 14,578 |
| Comprehensive income attributable to Gilead | 2,995,977 | 2,487,751 | 2,830,926 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net Cash Provided by (Used in) Operating Activities [Abstract] | |||
| Net income | $ 3,057,286 | 2,573,599 | 2,789,059 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities [Abstract] | |||
| Depreciation expense | 102,644 | 82,847 | 72,187 |
| Amortization expense | 242,060 | 195,359 | 230,045 |
| Stock-based compensation expense | 251,984 | 208,725 | 192,378 |
| In-process research and development impairment charges | 0 | 0 | 26,630 |
| Excess tax benefits from stock-based compensation | (278,773) | (114,236) | (40,848) |
| Tax Benefit from Employee Stock Plans | 284,655 | 112,629 | 37,231 |
| Deferred income taxes | (98,181) | (39,393) | 64,061 |
| Change in fair value of contingent consideration | 58,700 | 69,469 | 8,483 |
| Other | 47,289 | (1,878) | 47,931 |
| Changes in Operating Assets and Liabilities [Abstract] | |||
| Accounts receivable, net | (315,299) | 197,986 | (375,736) |
| Inventories | (343,143) | (349,924) | (200,793) |
| Prepaid expenses and other assets | (170,355) | (129,318) | (13,959) |
| Accounts payable | (97,673) | 117,485 | 428,944 |
| Income taxes payable | 30,021 | (68,473) | 110,771 |
| Accrued liabilities | 311,628 | 316,594 | 292,110 |
| Deferred revenues | 22,145 | 23,245 | (29,484) |
| Net cash provided by operating activities | 3,104,988 | 3,194,716 | 3,639,010 |
| Net Cash Provided by (Used in) Investing Activities [Abstract] | |||
| Purchases of marketable securities | (256,700) | (1,244,898) | (5,127,790) |
| Proceeds from sales of marketable securities | 494,117 | 527,712 | 8,649,752 |
| Proceeds from maturities of marketable securities | 77,655 | 44,813 | 788,395 |
| Purchases of other investments | 0 | (25,000) | 0 |
| Acquisitions, net of cash acquired | (378,645) | (10,751,635) | (588,608) |
| Capital expenditures | (190,782) | (397,046) | (131,904) |
| Net cash provided by (used in) investing activities | (254,355) | (11,846,054) | 3,589,845 |
| Net Cash Provided by (Used in) Financing Activities [Abstract] | |||
| Proceeds from debt financing, net of issuance costs | 0 | 2,144,733 | 4,660,702 |
| Proceeds from convertible note hedges | 2,774,402 | 213,856 | 36,148 |
| Proceeds from issuances of common stock | 313,079 | 466,283 | 211,737 |
| Repurchases of common stock | (582,358) | (667,041) | (2,383,132) |
| Repayments of debt financing | (4,439,891) | (1,837,139) | (686,135) |
| Payments to settle warrants | (1,039,695) | 0 | 0 |
| Repayments of other long-term obligations | (77) | (2,186) | (1,562) |
| Excess tax benefits from stock-based compensation | 278,773 | 114,236 | 40,848 |
| Contributions from (distributions to) noncontrolling interest | 151,826 | 130,604 | (115,037) |
| Net cash provided by (used in) financing activities | (2,543,941) | 563,346 | 1,763,569 |
| Effect of exchange rate changes on cash | 2,420 | 7,909 | (16,526) |
| Net change in cash and cash equivalents | 309,112 | (8,080,083) | 8,975,898 |
| Cash and cash equivalents at beginning of period | 1,803,694 | 9,883,777 | |
| Cash and cash equivalents at end of period | 2,112,806 | 1,803,694 | 9,883,777 |
| Supplemental Cash Flow Information [Abstract] | |||
| Interest Paid, Net of Amount Capitalized | 238,325 | 249,358 | 62,180 |
| Income taxes paid | 1,050,588 | 1,101,241 | 621,025 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 25, 2014) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets [Abstract] | ||
| Assets, Current [Abstract] | ||
| Cash and cash equivalents | $ 2,112,806 | 1,803,694 |
| Short-term marketable securities | 18,756 | 58,556 |
| Accounts receivable, net of allowances of $334,307 at December 31, 2013 and $261,013 at December 31, 2012 | 2,100,286 | 1,751,388 |
| Inventories | 2,055,788 | 1,744,982 |
| Deferred tax assets | 330,530 | 262,641 |
| Prepaid taxes | 398,010 | 348,420 |
| Prepaid expenses | 165,652 | 102,364 |
| Other current assets | 91,925 | 84,302 |
| Total current assets | 7,273,753 | 6,156,347 |
| Assets, Noncurrent [Abstract] | ||
| Property, plant and equipment, net | 1,166,181 | 1,100,259 |
| Long-term portion of prepaid royalties | 198,766 | 175,790 |
| Long-term deferred tax assets | 154,765 | 131,107 |
| Long-term marketable securities | 439,028 | 719,836 |
| Intangible assets, net | 11,900,106 | 11,736,393 |
| Goodwill | 1,169,023 | 1,060,919 |
| Other long-term assets | 195,163 | 159,187 |
| Total assets | 22,496,785 | 21,239,838 |
| Liabilities and Stockholders' Equity [Abstract] | ||
| Current liabilities [Abstract] | ||
| Accounts payable | 1,255,914 | 1,327,339 |
| Accrued government rebates | 983,490 | 745,148 |
| Accrued compensation and employee benefits | 243,540 | 204,593 |
| Income taxes payable | 10,855 | 13,403 |
| Other accrued liabilities | 1,023,938 | 674,762 |
| Deferred revenues | 110,640 | 103,162 |
| Current portion of long-term debt and other obligations, net | 2,697,044 | 1,169,490 |
| Total current liabilities | 6,325,421 | 4,237,897 |
| Liabilities, Noncurrent [Abstract] | ||
| Long-term deferred revenues | 21,979 | 20,532 |
| Long-term Debt, net | 3,938,708 | 7,054,555 |
| Long-term income taxes payable | 162,412 | 115,822 |
| Long-term deferred tax liabilities | 83,286 | 10,190 |
| Other long-term obligations | 156,647 | 249,973 |
| Commitments and contingencies (Note 11) | ||
| Temporary Equity [Abstract] | ||
| Equity component of currently redeemable convertible notes (Note 10) | 63,831 | 7,147 |
| Stockholders' Equity [Abstract] | ||
| Preferred stock, par value $0.001 per share; 5,000 shares authorized; none outstanding | 0 | 0 |
| Common stock, par value $0.001 per share; shares authorized of 5,600,000 at December 31, 2013 and 2,800,000 at December 31, 2012; shares issued and outstanding of 1,534,414 at December 31, 2013 and 1,519,163 at December 31, 2012 (1) | 1,534 [1] | 1,519 |
| Additional paid-in capital | 5,386,735 | 5,641,944 |
| Accumulated other comprehensive loss | (124,446) | (45,615) |
| Retained earnings | 6,105,244 | 3,704,744 |
| Total Gilead stockholders equity | 11,369,067 | 9,302,592 |
| Noncontrolling interest | 375,434 | 241,130 |
| Total stockholders equity | 11,744,501 | 9,543,722 |
| Total liabilities and stockholders equity | 22,496,785 | 21,239,838 |
| [1] The common stock shares and additional paid-in capital for all periods presented reflect the two-for-one stock split in the form of a stock dividend which took effect on January 25, 2013. | ||
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2013 | |
| 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 |