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: 2022 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues: | |||
| Total revenues | $ 27,281 | 27,305 | 24,689 |
| Costs and expenses: | |||
| Cost of goods sold | 5,657 | 6,601 | 4,572 |
| Research and development expenses | 4,977 | 4,601 | 4,927 |
| Acquired in-process research and development expenses | 944 | 939 | 5,968 |
| In-process research and development impairment | 2,700 | 0 | 0 |
| Selling, general and administrative expenses | 5,673 | 5,246 | 5,151 |
| Total costs and expenses | 19,951 | 17,387 | 20,618 |
| Operating income | 7,330 | 9,918 | 4,071 |
| Interest expense | (935) | (1,001) | (984) |
| Other income (expense), net | (581) | (639) | (1,418) |
| Income before income taxes | 5,814 | 8,278 | 1,669 |
| Income tax expense | (1,248) | (2,077) | (1,580) |
| Net income | 4,566 | 6,201 | 89 |
| Net loss attributable to noncontrolling interest | 26 | 24 | 34 |
| Net income attributable to Gilead | 4,592 | 6,225 | 123 |
| Basic earnings per share attributable to Gilead (in dollars per share) | 3.66 | 4.96 | 0.10 |
| Shares used in basic earnings per share attributable to Gilead calculation (in shares) | 1,255 | 1,256 | 1,257 |
| Diluted earnings per share attributable to Gilead (in dollars per share) | 3.64 | 4.93 | 0.10 |
| Shares used in diluted earnings per share attributable to Gilead calculation (in shares) | 1,262 | 1,262 | 1,263 |
| Product and Service | |||
| Product sales | |||
| Total revenues | 26,982 | 27,008 | 24,355 |
| Royalty, contract and other revenues | |||
| Total revenues | 299 | 297 | 334 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 4,566 | 6,201 | 89 |
| Other comprehensive income (loss): | |||
| Net foreign currency translation loss | (11) | (38) | (2) |
| Available-for-sale debt securities: | |||
| Net unrealized gain (loss), net of tax impact of $0, $(1) and $12, respectively | (30) | (6) | 43 |
| Reclassifications to net income, net of tax impact of $0, $0 and $12, respectively | 1 | 0 | (42) |
| Net change | (29) | (6) | 1 |
| Cash flow hedges: | |||
| Net unrealized gain (loss), net of tax impact of $20, $18 and $(15), respectively | 130 | 129 | (103) |
| Reclassifications to net income, net of tax impact of $25, $(9) and $6, respectively | (171) | 58 | (41) |
| Net change | (41) | 187 | (144) |
| Other comprehensive income (loss) | (81) | 143 | (145) |
| Comprehensive income (loss) | 4,485 | 6,344 | (56) |
| Comprehensive loss attributable to noncontrolling interest | 26 | 24 | 34 |
| Comprehensive income (loss) attributable to Gilead | 4,511 | 6,368 | (22) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
GILEAD SCIENCES, INC. | |||
Ticker: GILD Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating Activities: | |||
| Net income | $ 4,566 | 6,201 | 89 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation expense | 323 | 329 | 288 |
| Amortization expense | 1,780 | 1,721 | 1,192 |
| Stock-based compensation expense | 637 | 635 | 643 |
| Deferred income taxes | (1,552) | (116) | (214) |
| Net loss from equity securities | 657 | 610 | 1,662 |
| Acquired in-process research and development expenses | 944 | 939 | 5,968 |
| In-process research and development impairment | 2,700 | 0 | 0 |
| Other | 780 | 576 | 178 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (406) | 313 | (1,171) |
| Inventories | (310) | 11 | (195) |
| Prepaid expenses and other | 70 | (42) | (214) |
| Accounts payable | 226 | (118) | 80 |
| Income taxes payable | (568) | (364) | (778) |
| Accrued liabilities | (775) | 689 | 640 |
| Net cash provided by operating activities | 9,072 | 11,384 | 8,168 |
| Investing Activities: | |||
| Purchases of marketable debt securities | (1,770) | (3,517) | (20,315) |
| Proceeds from sales of marketable debt securities | 412 | 730 | 23,239 |
| Proceeds from maturities of marketable debt securities | 1,590 | 2,180 | 9,479 |
| Acquisitions, including in-process research and development, net of cash acquired | (1,797) | (1,584) | (25,920) |
| Purchases of equity securities | (172) | (380) | (455) |
| Capital expenditures | (728) | (579) | (650) |
| Other | (1) | 19 | 7 |
| Net cash used in investing activities | (2,466) | (3,131) | (14,615) |
| Financing Activities: | |||
| Proceeds from debt financing, net of issuance costs | 0 | 0 | 8,184 |
| Proceeds from issuances of common stock | 309 | 169 | 256 |
| Repurchases of common stock | (1,396) | (546) | (1,583) |
| Repayments of debt and other obligations | (1,500) | (4,750) | (2,500) |
| Payment of dividends | (3,709) | (3,605) | (3,449) |
| Other | (173) | (145) | (138) |
| Net cash provided by (used in) financing activities | (6,469) | (8,877) | 770 |
| Effect of exchange rate changes on cash and cash equivalents | (63) | (35) | 43 |
| Net change in cash and cash equivalents | 74 | (659) | (5,634) |
| Cash and cash equivalents at beginning of period | 5,338 | 5,997 | |
| Cash and cash equivalents at end of period | 5,412 | 5,338 | 5,997 |
| Supplemental disclosure of cash flow information: | |||
| Interest paid, net of amounts capitalized | 907 | 979 | 951 |
| Income taxes paid | 3,136 | 2,509 | 2,639 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
GILEAD SCIENCES, INC. | ||
Ticker: GILD Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 22, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 5,412 | 5,338 |
| Short-term marketable debt securities | 973 | 1,182 |
| Accounts receivable, net | 4,777 | 4,493 |
| Inventories | 1,507 | 1,618 |
| Prepaid and other current assets | 1,774 | 2,141 |
| Total current assets | 14,443 | 14,772 |
| Property, plant and equipment, net | 5,475 | 5,121 |
| Long-term marketable debt securities | 1,245 | 1,309 |
| Intangible assets, net | 28,894 | 33,455 |
| Goodwill | 8,314 | 8,332 |
| Other long-term assets | 4,800 | 4,963 |
| Total assets | 63,171 | 67,952 |
| Liabilities and Stockholders Equity | ||
| Current liabilities: | ||
| Accounts payable | 905 | 705 |
| Accrued rebates | 3,479 | 3,244 |
| Other current liabilities | 4,580 | 6,145 |
| Current portion of long-term debt and other obligations, net | 2,273 | 1,516 |
| Total current liabilities | 11,237 | 11,610 |
| Long-term debt, net | 22,957 | 25,179 |
| Long-term income taxes payable | 3,916 | 4,767 |
| Deferred tax liability | 2,673 | 4,356 |
| Other long-term obligations | 1,179 | 976 |
| 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; 1,247 and 1,254 shares issued and outstanding, respectively | 1 | 1 |
| Additional paid-in capital | 5,550 | 4,661 |
| Accumulated other comprehensive income | 2 | 83 |
| Retained earnings | 15,687 | 16,324 |
| Total Gilead stockholders equity | 21,240 | 21,069 |
| Noncontrolling interest | (31) | (5) |
| Total stockholders equity | 21,209 | 21,064 |
| Total liabilities and stockholders equity | 63,171 | 67,952 |
| External Links | |
| GILEAD SCIENCES, INC. (GILD) Fiscal Year 2022 | |
| 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 |