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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

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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.