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Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

Gilead Sciences Inc., Statement of Financial Position, Debt

USD $ in millions

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Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Current portion of long-term debt, net 2,747  983  483  2,697 
Long-term debt, net, excluding current portion 30,795  26,346  21,195  11,921  3,939 
Total long-term debt (carrying amount) 33,542  26,346  22,178  12,404  6,636 

Source: Based on data from Gilead Sciences Inc., Annual Reports

Item Description The company
Total long-term debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Gilead Sciences Inc.'s total debt increased from 2015 to 2016 and from 2016 to 2017.

Total Debt (Fair Value)

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Dec 31, 2017
Selected Financial Data (USD $ in millions)
Total long-term debt (fair value) 35,500 
Ratio
Debt, fair value to carrying amount 1.06

Source: Based on data from Gilead Sciences Inc., Annual Reports


Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on debt: 3.70%

Interest Rate Debt Amount1 Interest Rate × Debt Amount Weighted-average Interest Rate2
1.85% 999  18 
2.05% 499  10 
1.85% 997  18 
2.35% 499  12 
2.55% 1,994  51 
4.50% 995  45 
4.40% 1,246  55 
1.95% 497  10 
3.25% 996  32 
2.50% 745  19 
3.70% 1,742  64 
3.50% 1,744  61 
3.65% 2,729  100 
2.95% 1,244  37 
4.60% 990  46 
4.00% 740  30 
5.65% 995  56 
4.80% 1,733  83 
4.50% 1,730  78 
4.75% 2,215  105 
4.15% 1,723  72 
Total 27,052  1,001  3.70%

Source: Based on data from Gilead Sciences Inc., Annual Reports

1 USD $ in millions

2 Weighted-average interest rate = 100 × 1,001 ÷ 27,052 = 3.70%