Paying users zone. Data is hidden behind 
.
Get 1-month access to Gilead Sciences Inc. for $17.99, or
get full access to the entire website for at least 3 months from $49.99.
We accept:
This is a one-time payment. There is no automatic renewal.
Gilead Sciences Inc. (GILD)
Analysis of Operating Leases
Advanced level
An operating lease is treated like a rental contract. Neither the leased asset nor the associated liability is reported on the lessee balance sheet, but the rights may be very similar to the rights of an owner. The lessee only records the lease payments as a rental expense in income statement.
Present Value of Future Operating Lease Payments (before Adoption of FASB Topic 842)
Gilead Sciences Inc., future operating lease payments (before adoption of FASB Topic 842)
US$ in millions
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Total undiscounted future operating lease payments | |
|
|
|
|
|
| Discount rate1 | |
|
|
|
|
|
| Total present value of future operating lease payments | |
|
|
|
|
|
Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
1 Weighted-average interest rate for Gilead Sciences Inc.’s debt
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2019 | |
2019 | |
|
| 2020 | |
2020 | |
|
| 2021 | |
2021 | |
|
| 2022 | |
2022 | |
|
| 2023 | |
2023 | |
|
| 2024 and thereafter | |
2024 | |
|
| 2025 | |
|
||
| 2026 | |
|
||
| 2027 | |
|
||
| 2028 | |
|
||
| Total: | |
|
|
Based on: 10-K (filing date: 2019-02-26).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2018 | |
2018 | |
|
| 2019 | |
2019 | |
|
| 2020 | |
2020 | |
|
| 2021 | |
2021 | |
|
| 2022 | |
2022 | |
|
| 2023 and thereafter | |
2023 | |
|
| 2024 | |
|
||
| 2025 | |
|
||
| 2026 | |
|
||
| 2027 | |
|
||
| Total: | |
|
|
Based on: 10-K (filing date: 2018-02-27).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2017 | |
2017 | |
|
| 2018 | |
2018 | |
|
| 2019 | |
2019 | |
|
| 2020 | |
2020 | |
|
| 2021 | |
2021 | |
|
| 2022 and thereafter | |
2022 | |
|
| 2023 | |
|
||
| 2024 | |
|
||
| Total: | |
|
|
Based on: 10-K (filing date: 2017-02-27).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2016 | |
2016 | |
|
| 2017 | |
2017 | |
|
| 2018 | |
2018 | |
|
| 2019 | |
2019 | |
|
| 2020 | |
2020 | |
|
| 2021 and thereafter | |
2021 | |
|
| 2022 | |
|
||
| 2023 | |
|
||
| Total: | |
|
|
Based on: 10-K (filing date: 2016-02-24).
| Year | Future operating lease payments (as reported) | Year | Future operating lease payments (estimated) | Present value at |
|---|---|---|---|---|
| 2015 | |
2015 | |
|
| 2016 | |
2016 | |
|
| 2017 | |
2017 | |
|
| 2018 | |
2018 | |
|
| 2019 | |
2019 | |
|
| 2020 and thereafter | |
2020 | |
|
| 2021 | |
|
||
| 2022 | |
|
||
| Total: | |
|
|
Based on: 10-K (filing date: 2015-02-25).
Adjustments to Financial Statements for Operating Leases
Gilead Sciences Inc., adjustments to financial statements
US$ in millions
Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
1, 2 Equal to total present value of future operating lease payments.
Gilead Sciences Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios for Operating Leases (Summary)
Gilead Sciences Inc., adjusted financial ratios
Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Gilead Sciences Inc.’s adjusted total asset turnover ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
| Adjusted debt to equity | A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. | Gilead Sciences Inc.’s adjusted debt to equity ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Gilead Sciences Inc.’s adjusted ROA deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018. |
Gilead Sciences Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
2018 Calculations
1 Total asset turnover = Product sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Product sales ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Gilead Sciences Inc.’s adjusted total asset turnover ratio deteriorated from 2016 to 2017 and from 2017 to 2018. |
Adjusted Debt to Equity
Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
2018 Calculations
1 Debt to equity = Total debt ÷ Total Gilead stockholders’ equity
= ÷ =
2 Adjusted debt to equity = Adjusted total debt ÷ Total Gilead stockholders’ equity
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted debt-to-equity | A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. | Gilead Sciences Inc.’s adjusted debt-to-equity ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level. |
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-25).
2018 Calculations
1 ROA = 100 × Net income attributable to Gilead ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Net income attributable to Gilead ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Gilead Sciences Inc.’s adjusted ROA deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018. |