Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company 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.
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Gilead Sciences Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Gilead Sciences Inc., consolidated balance sheet: assets
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).
The financial data reveals several notable trends and changes over the five-year period under review.
- Liquidity and Current Assets
- Cash and cash equivalents exhibited a fluctuating but overall increasing trend, rising sharply from US$5,997 million in 2020 to US$9,991 million in 2024. Short-term marketable debt securities decreased from US$1,411 million in 2020 to US$973 million in 2022 before partially recovering to US$1,179 million in 2023, with no data available for 2024. Accounts receivable showed a gradual decline from US$4,892 million in 2020 to US$4,420 million in 2024, indicating a reduction in outstanding customer balances. Inventories fluctuated, initially decreasing from US$1,683 million in 2020 to US$1,507 million in 2022 but increasing again to US$1,787 million in 2023 and slightly decreasing to US$1,710 million in 2024.
- Prepaid and Equity Securities
- Prepaid taxes appear only in the final two years, with US$559 million in 2023 and US$480 million in 2024, suggesting a new or previously unreported asset category. Equity securities emerged in 2023 at US$1,086 million and increased to US$1,577 million in 2024, indicating possible new investments or holdings.
- Other Current Assets
- Other current assets (which include a reclassification from an earlier category labeled as “Other”) decreased significantly from US$2,013 million in 2020 to US$729 million in 2023 but rebounded to US$995 million in 2024. The broader category of prepaid and other current assets increased steadily, reaching US$3,052 million in 2024.
- Total Current Assets
- Current assets dropped slightly from US$15,996 million in 2020 to US$14,443 million in 2022, then increased notably to US$19,173 million by 2024, driven primarily by increases in cash and cash equivalents as well as prepaid and other current assets.
- Long-term Assets and Investments
- Property, plant, and equipment (PP&E), net, showed moderate growth overall, increasing from US$4,967 million in 2020 to US$5,414 million in 2024, with a minor dip in 2023. Long-term marketable debt securities increased substantially from US$502 million in 2020 to peak at US$1,309 million in 2021 but then declined to US$1,163 million in 2023, with no data available for 2024.
- Intangible Assets and Goodwill
- Intangible assets, net, displayed a significant downward trend, declining from US$33,126 million in 2020 to US$19,948 million in 2024, indicating possible amortization, impairment, or divestitures. Goodwill, in contrast, remained relatively stable at approximately US$8,300 million throughout the period.
- Other Long-term Assets
- Other long-term assets showed fluctuation, decreasing from US$5,708 million in 2020 to US$4,792 million in 2023 before rising again to US$6,146 million in 2024.
- Total Long-term Assets
- Total long-term assets decreased consistently from US$52,411 million in 2020 to US$39,822 million in 2024, reflecting declines primarily in intangible assets and minor reductions in other categories.
- Total Assets
- Total assets exhibited a declining trend from US$68,407 million in 2020 to US$58,995 million in 2024, a decrease of approximately 14%. This overall contraction appears driven mainly by reductions in long-term assets, especially intangible assets, partially offset by growth in current assets and cash holdings.
Overall, the data illustrate a strategic shift toward higher liquidity and current assets, alongside a notable reduction in intangible asset value, which could suggest impairment charges or divestitures. The stability in goodwill implies no significant acquisition-related goodwill impairments or additions. The decline in total assets suggests cautious capital expenditure or asset disposals over the recent years. The emerging presence of prepaid taxes and equity securities in later years points to changes in asset composition and potential adjustments in investment strategy or tax planning.