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: 2018 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Revenues | |||
| Revenues | $ 22,127 | 26,107 | 30,390 |
| Costs and Expenses | |||
| Cost of goods sold | 4,853 | 4,371 | 4,261 |
| Research and development expenses | 5,018 | 3,734 | 5,098 |
| Selling, general and administrative expenses | 4,056 | 3,878 | 3,398 |
| Total costs and expenses | 13,927 | 11,983 | 12,757 |
| Income from operations | 8,200 | 14,124 | 17,633 |
| Interest expense | (1,077) | (1,118) | (964) |
| Other income (expense), net | 676 | 523 | 428 |
| Income before provision for income taxes | 7,799 | 13,529 | 17,097 |
| Provision for income taxes | 2,339 | 8,885 | 3,609 |
| Net income | 5,460 | 4,644 | 13,488 |
| Net income (loss) attributable to noncontrolling interest | 5 | 16 | (13) |
| Net income attributable to Gilead | 5,455 | 4,628 | 13,501 |
| Net income per share attributable to Gilead common stockholders - basic | 4.20 | 3.54 | 10.08 |
| Shares used in per share calculation - basic | 1,298 | 1,307 | 1,339 |
| Net income per share attributable to Gilead common stockholders - diluted | 4.17 | 3.51 | 9.94 |
| Shares used in per share calculation - diluted | 1,308 | 1,319 | 1,358 |
| Product and Service | |||
| Product sales | |||
| Revenues | 21,677 | 25,662 | 29,953 |
| Royalty, contract and other revenues | |||
| Revenues | 450 | 445 | 437 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net income | $ 5,460 | 4,644 | 13,488 |
| Other Comprehensive Income (Loss) | |||
| Net foreign currency translation gain (loss), net of tax | (38) | (47) | 177 |
| Available-for-sale Securities | |||
| Net unrealized gain, net of tax impact of $0, $6 and $19, respectively | 43 | 218 | 7 |
| Reclassifications to net income (loss), net of tax impact of $0, ($9) and $0, respectively | 4 | (8) | (7) |
| Net change | 47 | 210 | 0 |
| Cash Flow Hedges | |||
| Net unrealized gain (loss), net of tax impact of $2, ($11) and $0, respectively | 112 | (304) | 5 |
| Reclassification to net income, net of tax impact of $0, $0 and $(8), respectively | 87 | 28 | 8 |
| Net change | 199 | (276) | 13 |
| Other comprehensive income (loss) | 208 | (113) | 190 |
| Comprehensive income | 5,668 | 4,531 | 13,678 |
| Comprehensive income (loss) attributable to noncontrolling interest | 5 | 16 | (13) |
| Comprehensive income attributable to Gilead | 5,663 | 4,515 | 13,691 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Operating Activities: | |||
| Net income | $ 5,460 | 4,644 | 13,488 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 226 | 233 | 177 |
| Amortization expense | 1,203 | 1,053 | 981 |
| Stock-based compensation expense | 845 | 638 | 380 |
| Deferred income taxes | 289 | (82) | (119) |
| In-process research and development impairment | 820 | 0 | 432 |
| Inventory reserve for excess raw materials | 440 | 0 | 0 |
| Other | 56 | 304 | 162 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | 480 | 754 | 1,192 |
| Inventories | (310) | (253) | (488) |
| Prepaid expenses and other | 903 | 358 | (520) |
| Accounts payable | (39) | (430) | 47 |
| Income taxes payable | (1,459) | 5,497 | 1,010 |
| Accrued liabilities | (514) | (818) | 305 |
| Net cash provided by operating activities | 8,400 | 11,898 | 17,047 |
| Investing Activities: | |||
| Purchases of marketable securities | (10,233) | (23,314) | (25,619) |
| Proceeds from sales of marketable securities | 1,522 | 10,440 | 13,039 |
| Proceeds from maturities of marketable securities | 24,336 | 7,821 | 1,700 |
| Other investments | (346) | 0 | (357) |
| Acquisitions, net of cash acquired | 0 | (10,426) | 0 |
| Capital expenditures | (924) | (590) | (748) |
| Net cash provided by (used in) investing activities | 14,355 | (16,069) | (11,985) |
| Financing Activities: | |||
| Proceeds from debt financing, net of issuance costs | 0 | 8,985 | 5,293 |
| Proceeds from convertible note hedges | 0 | 0 | 956 |
| Proceeds from issuances of common stock | 289 | 234 | 208 |
| Repurchases of common stock | (2,900) | (954) | (11,001) |
| Repayments of debt and other obligations | (6,250) | (1,811) | (1,981) |
| Payments to settle warrants | 0 | 0 | (469) |
| Payment of dividends | (2,971) | (2,731) | (2,455) |
| Other | (486) | (330) | (276) |
| Net cash provided by (used in) financing activities | (12,318) | 3,393 | (9,725) |
| Effect of exchange rate changes on cash and cash equivalents | (85) | 137 | 41 |
| Net change in cash and cash equivalents | 10,352 | (641) | (4,622) |
| Cash and cash equivalents at beginning of period | 7,588 | 8,229 | |
| Cash and cash equivalents at end of period | 17,940 | 7,588 | 8,229 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid, net of amounts capitalized | 1,070 | 1,038 | 885 |
| Income taxes paid | 3,198 | 3,342 | 2,436 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 26, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 17,940 | 7,588 |
| Short-term marketable securities | 12,149 | 17,922 |
| Accounts receivable, net of allowances of $583 and $455, respectively | 3,327 | 3,851 |
| Inventories | 814 | 801 |
| Prepaid and other current assets | 1,606 | 1,661 |
| Total current assets | 35,836 | 31,823 |
| Property, plant and equipment, net | 4,006 | 3,295 |
| Long-term marketable securities | 1,423 | 11,184 |
| Intangible assets, net | 15,738 | 17,100 |
| Goodwill | 4,117 | 4,159 |
| Other long-term assets | 2,555 | 2,722 |
| Total assets | 63,675 | 70,283 |
| Liabilities and Stockholders Equity | ||
| Current liabilities | ||
| Accounts payable | 790 | 814 |
| Accrued government and other rebates | 3,928 | 4,704 |
| Other accrued liabilities | 3,139 | 3,370 |
| Current portion of long-term debt and other obligations, net | 2,748 | 2,747 |
| Total current liabilities | 10,605 | 11,635 |
| Long-term debt, net | 24,574 | 30,795 |
| Long-term income taxes payable | 5,922 | 6,794 |
| Other long-term obligations | 1,040 | 558 |
| Commitments and contingencies (Note 13) | ||
| 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; 5,600 authorized; 1,282 and 1,308 shares issued and outstanding, respectively | 1 | 1 |
| Additional paid-in capital | 2,282 | 1,264 |
| Accumulated other comprehensive income | 80 | 165 |
| Retained earnings | 19,024 | 19,012 |
| Total Gilead stockholders equity | 21,387 | 20,442 |
| Noncontrolling interest | 147 | 59 |
| Total stockholders equity | 21,534 | 20,501 |
| Total liabilities and stockholders equity | 63,675 | 70,283 |
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2018 | |
| 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 |