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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues: | |||
| Total revenues | $ 27,305 | 24,689 | 22,449 |
| Costs and expenses: | |||
| Cost of goods sold | 6,601 | 4,572 | 4,675 |
| Research and development expenses | 5,363 | 5,039 | 4,055 |
| Acquired in-process research and development expenses | 177 | 5,856 | 5,051 |
| Selling, general and administrative expenses | 5,246 | 5,151 | 4,381 |
| Total costs and expenses | 17,387 | 20,618 | 18,162 |
| Income from operations | 9,918 | 4,071 | 4,287 |
| Interest expense | (1,001) | (984) | (995) |
| Other income (expense), net | (639) | (1,418) | 1,868 |
| Income before income taxes | 8,278 | 1,669 | 5,160 |
| Income tax (expense) benefit | (2,077) | (1,580) | 204 |
| Net income | 6,201 | 89 | 5,364 |
| Net loss attributable to noncontrolling interest | 24 | 34 | 22 |
| Net income attributable to Gilead | 6,225 | 123 | 5,386 |
| Net income per share attributable to Gilead common stockholders - basic (in dollars per share) | 4.96 | 0.10 | 4.24 |
| Shares used in per share calculation - basic (in shares) | 1,256 | 1,257 | 1,270 |
| Net income per share attributable to Gilead common stockholders - diluted (in dollars per share) | 4.93 | 0.10 | 4.22 |
| Shares used in per share calculation - diluted (in shares) | 1,262 | 1,263 | 1,277 |
| Product and Service | |||
| Product sales | |||
| Total revenues | 27,008 | 24,355 | 22,119 |
| Royalty, contract and other revenues | |||
| Total revenues | 297 | 334 | 330 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net income | $ 6,201 | 89 | 5,364 |
| Other comprehensive income (loss): | |||
| Net foreign currency translation gain (loss), net of tax | (38) | (2) | 6 |
| Available-for-sale debt securities: | |||
| Net unrealized gain (loss), net of tax | (6) | 43 | 54 |
| Reclassifications to net income, net of tax | 0 | (42) | (1) |
| Net change | (6) | 1 | 53 |
| Cash flow hedges: | |||
| Net unrealized gain (loss), net of tax | 129 | (103) | 72 |
| Reclassifications to net income, net of tax | 58 | (41) | (126) |
| Net change | 187 | (144) | (54) |
| Other comprehensive income (loss) | 143 | (145) | 5 |
| Comprehensive income (loss) | 6,344 | (56) | 5,369 |
| Comprehensive loss attributable to noncontrolling interest | 24 | 34 | 22 |
| Comprehensive income (loss) attributable to Gilead | 6,368 | (22) | 5,391 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating Activities: | |||
| Net income | $ 6,201 | 89 | 5,364 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 329 | 288 | 255 |
| Amortization expense | 1,721 | 1,192 | 1,149 |
| Stock-based compensation expense | 635 | 643 | 636 |
| Deferred income taxes | (116) | (214) | (2,098) |
| Net (gain) loss from equity securities | 610 | 1,662 | (1,241) |
| Acquired in-process research and development expenses | 177 | 5,856 | 4,251 |
| In-process research and development impairment | 0 | 0 | 800 |
| Write-downs for slow-moving and excess raw material and work in process inventory | 121 | 40 | 547 |
| Other | 1,217 | 250 | 279 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | 313 | (1,171) | (218) |
| Inventories | 11 | (195) | (95) |
| Prepaid expenses and other | (42) | (214) | (307) |
| Accounts payable | (118) | 80 | (61) |
| Income taxes payable | (364) | (778) | 272 |
| Accrued liabilities | 689 | 640 | (389) |
| Net cash provided by operating activities | 11,384 | 8,168 | 9,144 |
| Investing Activities: | |||
| Purchases of marketable debt securities | (3,517) | (20,315) | (30,455) |
| Proceeds from sales of marketable debt securities | 730 | 23,239 | 7,523 |
| Proceeds from maturities of marketable debt securities | 2,180 | 9,479 | 22,398 |
| Acquisitions, including in-process research and development, net of cash acquired | (1,402) | (25,742) | (4,251) |
| Purchases of equity securities | (380) | (455) | (1,773) |
| Capital expenditures | (579) | (650) | (825) |
| Other | (163) | (171) | (434) |
| Net cash used in by investing activities | (3,131) | (14,615) | (7,817) |
| Financing Activities: | |||
| Proceeds from debt financing, net of issuance costs | 0 | 8,184 | 0 |
| Proceeds from issuances of common stock | 169 | 256 | 209 |
| Repurchases of common stock | (546) | (1,583) | (1,749) |
| Repayments of debt and other obligations | (4,750) | (2,500) | (2,750) |
| Payment of dividends | (3,605) | (3,449) | (3,222) |
| Other | (145) | (138) | (122) |
| Net cash (used in) provided by financing activities | (8,877) | 770 | (7,634) |
| Effect of exchange rate changes on cash and cash equivalents | (35) | 43 | (2) |
| Net change in cash and cash equivalents | (659) | (5,634) | (6,309) |
| Cash and cash equivalents at beginning of period | 5,997 | 11,631 | |
| Cash and cash equivalents at end of period | 5,338 | 5,997 | 11,631 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid, net of amounts capitalized | 979 | 951 | 982 |
| Income taxes paid | 2,509 | 2,639 | 1,793 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 5,338 | 5,997 |
| Short-term marketable debt securities | 1,182 | 1,411 |
| Accounts receivable, net | 4,493 | 4,892 |
| Inventories | 1,618 | 1,683 |
| Prepaid and other current assets | 2,141 | 2,013 |
| Total current assets | 14,772 | 15,996 |
| Property, plant and equipment, net | 5,121 | 4,967 |
| Long-term marketable debt securities | 1,309 | 502 |
| Intangible assets, net | 33,455 | 33,126 |
| Goodwill | 8,332 | 8,108 |
| Other long-term assets | 4,963 | 5,708 |
| Total assets | 67,952 | 68,407 |
| Liabilities and Stockholders Equity | ||
| Current liabilities: | ||
| Accounts payable | 705 | 844 |
| Accrued government and other rebates | 3,244 | 3,460 |
| Accrued and other current liabilities | 6,145 | 4,336 |
| Current portion of long-term debt and other obligations, net | 1,516 | 2,757 |
| Total current liabilities | 11,610 | 11,397 |
| Long-term debt, net | 25,179 | 28,645 |
| Long-term income taxes payable | 4,767 | 5,016 |
| Deferred tax liability | 4,356 | 3,914 |
| Other long-term obligations | 976 | 1,214 |
| 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 shares issued and outstanding as of December 31, 2021 and 2020 | 1 | 1 |
| Additional paid-in capital | 4,661 | 3,880 |
| Accumulated other comprehensive income (loss) | 83 | (60) |
| Retained earnings | 16,324 | 14,381 |
| Total Gilead stockholders equity | 21,069 | 18,202 |
| Noncontrolling interest | (5) | 19 |
| Total stockholders equity | 21,064 | 18,221 |
| Total liabilities and stockholders equity | 67,952 | 68,407 |
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2021 | |
| 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 |