Analysis of Debt
Total Debt (Carrying Amount)
Gilead Sciences Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Current portion of long-term debt and other obligations, net
- The current portion of long-term debt and other obligations shows a fluctuating trend over the reported periods. It decreased significantly from 2,757 million USD at the end of 2020 to 1,516 million USD by the end of 2021. Following this decline, there was an increase to 2,273 million USD by the end of 2022, then a subsequent decrease to 1,798 million USD in 2023. The value slightly rose again to 1,815 million USD by the end of 2024. Overall, this category presents short-term variability without a clear upward or downward long-term trend.
- Long-term debt, net, excluding current portion
- Long-term debt, net of the current portion, exhibited a general downward trend from 28,645 million USD in 2020 to 22,957 million USD in 2022. This equates to a reduction of approximately 19.8% over two years. However, there was a modest rebound in subsequent periods, with the figure rising to 23,189 million USD in 2023 and further to 24,896 million USD by the end of 2024. Despite this partial recovery, the long-term debt level in 2024 remains below the initial 2020 value, indicating an overall reduction in long-term debt exposure across five years.
- Total debt, net (carrying amount)
- Total net debt followed a declining trajectory during the first three years from 31,402 million USD at the end of 2020 to 25,230 million USD at the end of 2022, marking a decrease of approximately 19.6%. From there, total debt stabilized with minor changes, decreasing slightly to 24,987 million USD in 2023 before increasing to 26,711 million USD in 2024. The recent uptick suggests a partial reversal of earlier deleveraging trends, but the total debt figure in 2024 still remains below the peak level recorded in 2020.
Total Debt (Fair Value)
| Dec 31, 2024 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Senior unsecured notes | 23,335) |
| Liability related to future royalties | 900) |
| Total debt, net (fair value) | 24,235) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.91 |
Based on: 10-K (reporting date: 2024-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 4.11%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 3.50% | 1,750) | 61) | |
| 3.65% | 2,747) | 100) | |
| 2.95% | 1,249) | 37) | |
| 1.20% | 748) | 9) | |
| 4.80% | 746) | 36) | |
| 1.65% | 995) | 16) | |
| 5.25% | 993) | 52) | |
| 5.10% | 991) | 51) | |
| 4.60% | 994) | 46) | |
| 4.00% | 744) | 30) | |
| 2.60% | 989) | 26) | |
| 5.65% | 997) | 56) | |
| 4.80% | 1,738) | 83) | |
| 4.50% | 1,735) | 78) | |
| 4.75% | 2,224) | 106) | |
| 4.15% | 1,730) | 72) | |
| 2.80% | 1,479) | 41) | |
| 5.55% | 988) | 55) | |
| 5.50% | 989) | 54) | |
| 5.60% | 738) | 41) | |
| Total | 25,564) | 1,051) | |
| 4.11% | |||
Based on: 10-K (reporting date: 2024-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 1,051 ÷ 25,564 = 4.11%