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: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Product sales | $ 29,953 | 32,151 | 24,474 |
| Royalty, contract and other revenues | 437 | 488 | 416 |
| Total revenues | 30,390 | 32,639 | 24,890 |
| Costs and Expenses | |||
| Cost of goods sold | 4,261 | 4,006 | 3,788 |
| Research and development expenses | 5,098 | 3,014 | 2,854 |
| Selling, general and administrative expenses | 3,398 | 3,426 | 2,983 |
| Total costs and expenses | 12,757 | 10,446 | 9,625 |
| Income from operations | 17,633 | 22,193 | 15,265 |
| Interest expense | (964) | (688) | (412) |
| Other income (expense), net | 428 | 154 | 3 |
| Income before provision for income taxes | 17,097 | 21,659 | 14,856 |
| Provision for income taxes | 3,609 | 3,553 | 2,797 |
| Net income | 13,488 | 18,106 | 12,059 |
| Net loss attributable to noncontrolling interest | (13) | (2) | (42) |
| Net income attributable to Gilead | 13,501 | 18,108 | 12,101 |
| Net income per share attributable to Gilead common stockholders - basic | 10.08 | 12.37 | 7.95 |
| Shares used in per share calculation - basic | 1,339 | 1,464 | 1,522 |
| Net income per share attributable to Gilead common stockholders - diluted | 9.94 | 11.91 | 7.35 |
| Shares used in per share calculation - diluted | 1,358 | 1,521 | 1,647 |
| Cash dividends declared per share | 1.84 | 1.29 | 0.00 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 13,488 | 18,106 | 12,059 |
| Other Comprehensive Income (Loss) | |||
| Net foreign currency translation gain (loss), net of tax | 177 | 9 | (9) |
| Available-for-sale Securities | |||
| Net unrealized gain (loss), net of tax impact of $19, $(17) and $0, respectively | 7 | (29) | 1 |
| Reclassifications to net income, net of tax impact of $0, $1 and $0, respectively | (7) | 1 | (1) |
| Net change | 0 | (28) | 0 |
| Cash Flow Hedges | |||
| Net unrealized gain, net of tax impact of $0, $21 and $16, respectively | 5 | 389 | 430 |
| Reclassification to net income, net of tax impact of $(8), $(19) and $(4), respectively | 8 | (583) | 4 |
| Net change | 13 | (194) | 434 |
| Other comprehensive income (loss) | 190 | (213) | 425 |
| Comprehensive income | 13,678 | 17,893 | 12,484 |
| Comprehensive loss attributable to noncontrolling interest | (13) | (2) | (42) |
| Comprehensive income attributable to Gilead | 13,691 | 17,895 | 12,526 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Operating Activities: | |||
| Net income | $ 13,488 | 18,106 | 12,059 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 177 | 161 | 125 |
| Amortization expense | 981 | 937 | 925 |
| Stock-based compensation expense | 380 | 382 | 360 |
| Excess tax benefits from stock-based compensation | (194) | (585) | (482) |
| Tax benefits from exercise and vesting of stock-based awards | 186 | 586 | 484 |
| Deferred income taxes | (119) | (393) | (236) |
| In-process research and development impairment | 432 | 0 | 0 |
| Other | (24) | (24) | 101 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | 1,192 | (1,397) | (2,578) |
| Inventories | (488) | (855) | 143 |
| Prepaid expenses and other | (520) | (90) | (371) |
| Accounts payable | 47 | 226 | (289) |
| Income taxes payable | 1,010 | 269 | 533 |
| Accrued liabilities | 425 | 2,632 | 2,013 |
| Deferred revenues | (304) | 374 | 31 |
| Net cash provided by operating activities | 16,669 | 20,329 | 12,818 |
| Investing Activities: | |||
| Purchases of marketable securities | (25,619) | (17,239) | (2,107) |
| Proceeds from sales of marketable securities | 13,039 | 4,792 | 807 |
| Proceeds from maturities of marketable securities | 1,700 | 719 | 52 |
| Other investments | (357) | 0 | (18) |
| Capital expenditures | (748) | (747) | (557) |
| Net cash used in investing activities | (11,985) | (12,475) | (1,823) |
| Financing Activities: | |||
| Proceeds from debt financing, net of issuance costs | 5,293 | 9,902 | 7,932 |
| Proceeds from convertible note hedges | 956 | 784 | 2,543 |
| Purchases of convertible note hedges | 0 | 0 | (26) |
| Proceeds from issuances of common stock | 208 | 319 | 331 |
| Repurchases of common stock | (11,001) | (10,002) | (5,349) |
| Repayments of debt and other obligations | (1,981) | (997) | (4,779) |
| Payments to settle warrants | (469) | (3,865) | (4,093) |
| Excess tax benefits from stock-based compensation | 194 | 585 | 482 |
| Payment of contingent consideration | (2) | (3) | (101) |
| Payment of dividends | (2,455) | (1,874) | 0 |
| Contributions from (distribution to) noncontrolling interest | (90) | 188 | 35 |
| Net cash used in financing activities | (9,347) | (4,963) | (3,025) |
| Effect of exchange rate changes on cash and cash equivalents | 41 | (67) | (56) |
| Net change in cash and cash equivalents | (4,622) | 2,824 | 7,914 |
| Cash and cash equivalents at beginning of period | 12,851 | 10,027 | |
| Cash and cash equivalents at end of period | 8,229 | 12,851 | 10,027 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid, net of amounts capitalized | 885 | 529 | 330 |
| Income taxes paid | 2,436 | 3,137 | 2,060 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 8,229 | 12,851 |
| Short-term marketable securities | 3,666 | 1,756 |
| Accounts receivable, net of allowances of $763 at December 31, 2016 and $1,032 at December 31, 2015 | 4,514 | 5,854 |
| Inventories | 1,587 | 1,955 |
| Deferred tax assets | 857 | 828 |
| Prepaid and other current assets | 1,592 | 1,518 |
| Total current assets | 20,445 | 24,762 |
| Property, plant and equipment, net | 2,865 | 2,276 |
| Long-term portion of prepaid royalties | 423 | 400 |
| Long-term deferred tax assets | 402 | 324 |
| Long-term marketable securities | 20,485 | 11,601 |
| Intangible assets, net | 8,971 | 10,247 |
| Goodwill | 1,172 | 1,172 |
| Other long-term assets | 2,214 | 934 |
| Total assets | 56,977 | 51,716 |
| Liabilities and Stockholders Equity | ||
| Current liabilities | ||
| Accounts payable | 1,206 | 1,178 |
| Accrued government and other rebates | 5,021 | 4,118 |
| Other accrued liabilities | 2,790 | 3,172 |
| Deferred revenues | 202 | 440 |
| Current portion of long-term debt and other obligations, net | 0 | 982 |
| Total current liabilities | 9,219 | 9,890 |
| Long-term debt, net | 26,346 | 21,073 |
| Long-term income taxes payable | 1,753 | 1,243 |
| Other long-term obligations | 296 | 395 |
| Commitments and contingencies (Note 12) | ||
| Equity component of currently redeemable convertible notes | 0 | 2 |
| Stockholders' Equity | ||
| Preferred stock, par value $0.001 per share; 5 shares authorized; none outstanding | 0 | 0 |
| Common stock, par value $0.001 per share; shares authorized of 5,600 at December 31, 2016 and December 31, 2015; shares issued and outstanding of 1,310 at December 31, 2016 and 1,422 at December 31, 2015 | 1 | 1 |
| Additional paid-in capital | 454 | 444 |
| Accumulated other comprehensive income | 278 | 88 |
| Retained earnings | 18,154 | 18,001 |
| Total Gilead stockholders equity | 18,887 | 18,534 |
| Noncontrolling interest | 476 | 579 |
| Total stockholders equity | 19,363 | 19,113 |
| Total liabilities and stockholders equity | 56,977 | 51,716 |
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2016 | |
| 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 |