10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenues: | |||
| Revenues | $ 24,689 | 22,449 | 22,127 |
| Costs and expenses: | |||
| Cost of goods sold | 4,572 | 4,675 | 4,853 |
| Research and development expenses | 5,039 | 4,055 | 3,920 |
| Acquired in-process research and development expenses | 5,856 | 5,051 | 1,098 |
| Selling, general and administrative expenses | 5,151 | 4,381 | 4,056 |
| Total costs and expenses | 20,618 | 18,162 | 13,927 |
| Income from operations | 4,071 | 4,287 | 8,200 |
| Interest expense | (984) | (995) | (1,077) |
| Other income (expense), net | (1,418) | 1,868 | 676 |
| Income before income taxes | 1,669 | 5,160 | 7,799 |
| Income tax expense (benefit) | 1,580 | (204) | 2,339 |
| Net income | 89 | 5,364 | 5,460 |
| Net (loss) income attributable to noncontrolling interest | (34) | (22) | 5 |
| Net income attributable to Gilead | 123 | 5,386 | 5,455 |
| Net income per share attributable to Gilead common stockholders - basic (usd per share) | 0.10 | 4.24 | 4.20 |
| Shares used in per share calculation - basic (in shares) | 1,257 | 1,270 | 1,298 |
| Net income per share attributable to Gilead common stockholders - diluted (usd per share) | 0.10 | 4.22 | 4.17 |
| Shares used in per share calculation - diluted (in shares) | 1,263 | 1,277 | 1,308 |
| Product and Service | |||
| Product sales | |||
| Revenues | 24,355 | 22,119 | 21,677 |
| Royalty, contract and other revenues | |||
| Revenues | 334 | 330 | 450 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 89 | 5,364 | 5,460 |
| Other comprehensive income (loss): | |||
| Net foreign currency translation gain (loss), net of tax | (2) | 6 | (38) |
| Available-for-sale debt securities: | |||
| Net unrealized gain, net of tax | 43 | 54 | 43 |
| Reclassifications to net income, net of tax | (42) | (1) | 4 |
| Net change | 1 | 53 | 47 |
| Cash flow hedges: | |||
| Net unrealized gain (loss), net of tax | (103) | 72 | 112 |
| Reclassification to net income, net of tax | (41) | (126) | 87 |
| Net change | (144) | (54) | 199 |
| Other comprehensive income (loss) | (145) | 5 | 208 |
| Comprehensive income (loss) | (56) | 5,369 | 5,668 |
| Comprehensive income (loss) attributable to noncontrolling interest | (34) | (22) | 5 |
| Comprehensive income (loss) attributable to Gilead | (22) | 5,391 | 5,663 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating Activities: | |||
| Net income | $ 89 | 5,364 | 5,460 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 288 | 255 | 226 |
| Amortization expense | 1,192 | 1,149 | 1,203 |
| Stock-based compensation expense | 643 | 636 | 845 |
| Deferred income taxes | (214) | (2,098) | 289 |
| Net (gains) losses from equity securities | 1,662 | (1,241) | (115) |
| Acquired in-process research and development expenses | 5,856 | 4,251 | 0 |
| In-process research and development impairment | 0 | 800 | 820 |
| Write-downs for slow moving and excess raw material and work in process inventory | 40 | 547 | 440 |
| Other | 250 | 279 | 171 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (1,171) | (218) | 480 |
| Inventories | (195) | (95) | (310) |
| Prepaid expenses and other | (214) | (307) | 903 |
| Accounts payable | 80 | (61) | (39) |
| Income taxes payable | (778) | 272 | (1,459) |
| Accrued liabilities | 640 | (389) | (514) |
| Net cash provided by operating activities | 8,168 | 9,144 | 8,400 |
| Investing Activities: | |||
| Purchases of marketable debt securities | (20,315) | (30,455) | (10,233) |
| Proceeds from sales of marketable debt securities | 23,239 | 7,523 | 1,522 |
| Proceeds from maturities of marketable debt securities | 9,479 | 22,398 | 24,336 |
| Acquisitions, including in-process research and development, net of cash acquired | (25,742) | (4,251) | 0 |
| Purchases of equity securities | (455) | (1,773) | (156) |
| Capital expenditures | (650) | (825) | (924) |
| Other | (171) | (434) | (190) |
| Net cash (used in) provided by investing activities | (14,615) | (7,817) | 14,355 |
| Financing Activities: | |||
| Proceeds from debt financing, net of issuance costs | 8,184 | 0 | 0 |
| Proceeds from issuances of common stock | 256 | 209 | 289 |
| Repurchases of common stock | (1,583) | (1,749) | (2,900) |
| Repayments of debt and other obligations | (2,500) | (2,750) | (6,250) |
| Payment of dividends | (3,449) | (3,222) | (2,971) |
| Other | (138) | (122) | (486) |
| Net cash provided by (used in) financing activities | 770 | (7,634) | (12,318) |
| Effect of exchange rate changes on cash and cash equivalents | 43 | (2) | (85) |
| Net change in cash and cash equivalents | (5,634) | (6,309) | 10,352 |
| Cash and cash equivalents at beginning of period | 11,631 | 17,940 | |
| Cash and cash equivalents at end of period | 5,997 | 11,631 | 17,940 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid, net of amounts capitalized | 951 | 982 | 1,070 |
| Income taxes paid | 2,639 | 1,793 | 3,198 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 5,997 | 11,631 |
| Short-term marketable securities | 1,411 | 12,721 |
| Accounts receivable, net | 4,892 | 3,582 |
| Inventories | 1,683 | 922 |
| Prepaid and other current assets | 2,013 | 1,440 |
| Total current assets | 15,996 | 30,296 |
| Property, plant and equipment, net | 4,967 | 4,502 |
| Long-term marketable securities | 502 | 1,488 |
| Intangible assets, net | 33,126 | 13,786 |
| Goodwill | 8,108 | 4,117 |
| Other long-term assets | 5,708 | 7,438 |
| Total assets | 68,407 | 61,627 |
| Liabilities and Stockholders Equity | ||
| Current liabilities: | ||
| Accounts payable | 844 | 713 |
| Accrued government and other rebates | 3,460 | 3,473 |
| Other accrued liabilities | 4,336 | 3,074 |
| Current portion of long-term debt and other obligations, net | 2,757 | 2,499 |
| Total current liabilities | 11,397 | 9,759 |
| Long-term debt, net | 28,645 | 22,094 |
| Long-term income taxes payable | 5,016 | 6,115 |
| Other long-term obligations | 5,128 | 1,009 |
| 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; 1,254 and 1,266 shares issued and outstanding, respectively | 1 | 1 |
| Additional paid-in capital | 3,880 | 3,051 |
| Accumulated other comprehensive income | (60) | 85 |
| Retained earnings | 14,381 | 19,388 |
| Total Gilead stockholders equity | 18,202 | 22,525 |
| Noncontrolling interest | 19 | 125 |
| Total stockholders equity | 18,221 | 22,650 |
| Total liabilities and stockholders equity | 68,407 | 61,627 |
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2020 | |
| 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 |