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: 2019 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues | |||
| Revenues | $ 22,449 | 22,127 | 26,107 |
| Costs and Expenses | |||
| Cost of goods sold | 4,675 | 4,853 | 4,371 |
| Research and development expenses | 9,106 | 5,018 | 3,734 |
| Selling, general and administrative expenses | 4,381 | 4,056 | 3,878 |
| Total costs and expenses | 18,162 | 13,927 | 11,983 |
| Income from operations | 4,287 | 8,200 | 14,124 |
| Interest expense | (995) | (1,077) | (1,118) |
| Other income (expense), net | 1,868 | 676 | 523 |
| Income before provision for income taxes | 5,160 | 7,799 | 13,529 |
| Provision for income taxes | (204) | 2,339 | 8,885 |
| Net income | 5,364 | 5,460 | 4,644 |
| Net (loss) income attributable to noncontrolling interest | (22) | 5 | 16 |
| Net income attributable to Gilead | 5,386 | 5,455 | 4,628 |
| Net income per share attributable to Gilead common stockholders - basic | 4.24 | 4.20 | 3.54 |
| Shares used in per share calculation - basic | 1,270 | 1,298 | 1,307 |
| Net income per share attributable to Gilead common stockholders - diluted | 4.22 | 4.17 | 3.51 |
| Shares used in per share calculation - diluted | 1,277 | 1,308 | 1,319 |
| Product and Service | |||
| Product sales | |||
| Revenues | 22,119 | 21,677 | 25,662 |
| Royalty, contract and other revenues | |||
| Revenues | 330 | 450 | 445 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income | $ 5,364 | 5,460 | 4,644 |
| Other Comprehensive Income (Loss) | |||
| Net foreign currency translation gain (loss), net of tax | 6 | (38) | (47) |
| Available-for-sale Securities | |||
| Net unrealized gain, net of tax | 54 | 43 | 218 |
| Reclassifications to net income, net of tax | (1) | 4 | (8) |
| Net change | 53 | 47 | 210 |
| Cash Flow Hedges | |||
| Net unrealized gain (loss), net of tax | 72 | 112 | (304) |
| Reclassification to net income, net of tax | (126) | 87 | 28 |
| Net change | (54) | 199 | (276) |
| Other comprehensive income (loss) | 5 | 208 | (113) |
| Comprehensive income | 5,369 | 5,668 | 4,531 |
| Comprehensive (loss) income attributable to noncontrolling interest | (22) | 5 | 16 |
| Comprehensive income attributable to Gilead | 5,391 | 5,663 | 4,515 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating Activities: | |||
| Net income | $ 5,364 | 5,460 | 4,644 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 255 | 226 | 233 |
| Amortization expense | 1,149 | 1,203 | 1,053 |
| Stock-based compensation expense | 636 | 845 | 638 |
| Deferred income taxes | (2,098) | 289 | (82) |
| Net gains from equity securities | (1,241) | (115) | 0 |
| Up-front and milestone expense related to collaborative and other arrangements | 4,346 | 0 | 0 |
| In-process research and development impairment | 800 | 820 | 0 |
| Write-downs for slow moving and excess raw material and work in process inventory | 547 | 440 | 0 |
| Other | 184 | 171 | 304 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (218) | 480 | 754 |
| Inventories | (95) | (310) | (253) |
| Prepaid expenses and other | (307) | 903 | 358 |
| Accounts payable | (61) | (39) | (430) |
| Income taxes payable | 272 | (1,459) | 5,497 |
| Accrued liabilities | (389) | (514) | (818) |
| Net cash provided by operating activities | 9,144 | 8,400 | 11,898 |
| Investing Activities: | |||
| Purchases of marketable debt securities | (30,455) | (10,233) | (23,314) |
| Proceeds from sales of marketable debt securities | 7,523 | 1,522 | 10,440 |
| Proceeds from maturities of marketable debt securities | 22,398 | 24,336 | 7,821 |
| Up-front and milestone payments related to collaborative and other arrangements | (4,301) | 0 | 0 |
| Purchases of equity securities | (1,773) | (156) | 0 |
| Acquisitions, net of cash acquired | 0 | 0 | (10,426) |
| Capital expenditures | (825) | (924) | (590) |
| Other | (384) | (190) | 0 |
| Net cash (used in) provided by investing activities | (7,817) | 14,355 | (16,069) |
| Financing Activities: | |||
| Proceeds from debt financing, net of issuance costs | 0 | 0 | 8,985 |
| Proceeds from issuances of common stock | 209 | 289 | 234 |
| Repurchases of common stock | (1,749) | (2,900) | (954) |
| Repayments of debt and other obligations | (2,750) | (6,250) | (1,811) |
| Payment of dividends | (3,222) | (2,971) | (2,731) |
| Other | (122) | (486) | (330) |
| Net cash (used in) provided by financing activities | (7,634) | (12,318) | 3,393 |
| Effect of exchange rate changes on cash and cash equivalents | (2) | (85) | 137 |
| Net change in cash and cash equivalents | (6,309) | 10,352 | (641) |
| Cash and cash equivalents at beginning of period | 17,940 | 7,588 | |
| Cash and cash equivalents at end of period | 11,631 | 17,940 | 7,588 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid, net of amounts capitalized | 982 | 1,070 | 1,038 |
| Income taxes paid | 1,793 | 3,198 | 3,342 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 11,631 | 17,940 |
| Short-term marketable securities | 12,721 | 12,149 |
| Accounts receivable, net of allowances of $758 and $583, respectively | 3,582 | 3,327 |
| Inventories | 922 | 814 |
| Prepaid and other current assets | 1,440 | 1,606 |
| Total current assets | 30,296 | 35,836 |
| Property, plant and equipment, net | 4,502 | 4,006 |
| Long-term marketable securities | 1,488 | 1,423 |
| Intangible assets, net | 13,786 | 15,738 |
| Goodwill | 4,117 | 4,117 |
| Other long-term assets | 7,438 | 2,555 |
| Total assets | 61,627 | 63,675 |
| Liabilities and Stockholders Equity | ||
| Current liabilities | ||
| Accounts payable | 713 | 790 |
| Accrued government and other rebates | 3,473 | 3,928 |
| Other accrued liabilities | 3,074 | 3,139 |
| Current portion of long-term debt and other obligations, net | 2,499 | 2,748 |
| Total current liabilities | 9,759 | 10,605 |
| Long-term debt, net | 22,094 | 24,574 |
| Long-term income taxes payable | 6,115 | 5,922 |
| Other long-term obligations | 1,009 | 1,040 |
| Commitments and contingencies (Note 14) | ||
| 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; 1,266 and 1,282 shares issued and outstanding, respectively | 1 | 1 |
| Additional paid-in capital | 3,051 | 2,282 |
| Accumulated other comprehensive income | 85 | 80 |
| Retained earnings | 19,388 | 19,024 |
| Total Gilead stockholders equity | 22,525 | 21,387 |
| Noncontrolling interest | 125 | 147 |
| Total stockholders equity | 22,650 | 21,534 |
| Total liabilities and stockholders equity | 61,627 | 63,675 |
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2019 | |
| 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 |