Gilead Sciences Inc. (GILD)

Statement of Financial Position, Assets

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Gilead Sciences Inc., Consolidated Statement of Financial Position, Assets

USD $ in millions

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Cash and cash equivalents	17,940	7,588	8,229	12,851	10,027
Short-term marketable securities	12,149	17,922	3,666	1,756	101
Accounts receivable, net of allowances	3,327	3,851	4,514	5,854	4,635
Inventories	814	801	1,587	1,955	1,386
Deferred tax assets	—	—	857	828	508
Prepaid and other current assets	1,606	1,661	1,592	1,519	1,057
Current assets	35,836	31,823	20,445	24,763	17,714
Property, plant and equipment, net	4,006	3,295	2,865	2,276	1,674
Long-term marketable securities	1,423	11,184	20,485	11,601	1,598
Intangible assets, net	15,738	17,100	8,971	10,247	11,073
Goodwill	4,117	4,159	1,172	1,172	1,172
Other long-term assets	2,555	2,722	3,039	1,780	1,433
Long-term assets	27,839	38,460	36,532	27,076	16,950
Total assets	63,675	70,283	56,977	51,839	34,664

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).

Assets, Selected Items

Item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Gilead Sciences Inc.’s current assets increased from 2016 to 2017 and from 2017 to 2018.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Gilead Sciences Inc.’s property, plant and equipment, net increased from 2016 to 2017 and from 2017 to 2018.
Long-term assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	Gilead Sciences Inc.’s long-term assets increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Gilead Sciences Inc.’s total assets increased from 2016 to 2017 but then slightly declined from 2017 to 2018.

Current Assets, Selected Items

Item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Gilead Sciences Inc.’s cash and cash equivalents declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Short-term marketable securities	Amount of investment in marketable security, classified as current.	Gilead Sciences Inc.’s short-term marketable securities increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Accounts receivable, net of allowances	Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.	Gilead Sciences Inc.’s accounts receivable, net of allowances declined from 2016 to 2017 and from 2017 to 2018.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	Gilead Sciences Inc.’s inventories declined from 2016 to 2017 but then slightly increased from 2017 to 2018.