Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Gilead Sciences Inc. (NASDAQ:GILD)

Cash Flow Statement

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Gilead Sciences Inc., consolidated cash flow statement

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income 5,364  5,460  4,644  13,488  18,106 
Depreciation expense 255  226  233  177  161 
Amortization expense 1,149  1,203  1,053  981  937 
Stock-based compensation expense 636  845  638  380  382 
Excess tax benefits from stock-based compensation —  —  —  (194) (585)
Deferred income taxes (2,098) 289  (82) (119) (393)
Net gains from equity securities (1,241) (115) —  —  — 
Up-front and milestone expense related to collaborative and other arrangements 4,346  —  —  —  — 
In-process research and development impairment 800  820  —  432  — 
Write-downs for slow moving and excess raw material and work in process inventory 547  440  —  —  — 
Other 184  171  304  162  562 
Accounts receivable, net (218) 480  754  1,192  (1,397)
Inventories (95) (310) (253) (488) (855)
Prepaid expenses and other (307) 903  358  (520) (90)
Accounts payable (61) (39) (430) 47  226 
Income taxes payable 272  (1,459) 5,497  1,010  269 
Accrued liabilities (389) (514) (818) 121  3,006 
Changes in operating assets and liabilities (798) (939) 5,108  1,362  1,159 
Adjustments to reconcile net income to net cash provided by operating activities 3,780  2,940  7,254  3,181  2,223 
Net cash provided by operating activities 9,144  8,400  11,898  16,669  20,329 
Purchases of marketable debt securities (30,455) (10,233) (23,314) (25,619) (17,239)
Proceeds from sales of marketable debt securities 7,523  1,522  10,440  13,039  4,792 
Proceeds from maturities of marketable debt securities 22,398  24,336  7,821  1,700  719 
Up-front and milestone payments related to collaborative and other arrangements (4,301) —  —  —  — 
Purchases of equity securities (1,773) (156) —  —  — 
Acquisitions, net of cash acquired —  —  (10,426) —  — 
Capital expenditures (825) (924) (590) (748) (747)
Other (384) (190) —  (357) — 
Net cash (used in) provided by investing activities (7,817) 14,355  (16,069) (11,985) (12,475)
Proceeds from debt financing, net of issuance costs —  —  8,985  5,293  9,902 
Proceeds from convertible note hedges —  —  —  956  784 
Proceeds from issuances of common stock 209  289  234  208  319 
Repurchases of common stock (1,749) (2,900) (954) (11,001) (10,002)
Repayments of debt and other obligations (2,750) (6,250) (1,811) (1,981) (997)
Payments to settle warrants —  —  —  (469) (3,865)
Excess tax benefits from stock-based compensation —  —  —  194  585 
Payment of dividends (3,222) (2,971) (2,731) (2,455) (1,874)
Other (122) (486) (330) (92) 185 
Net cash provided by (used in) financing activities (7,634) (12,318) 3,393  (9,347) (4,963)
Effect of exchange rate changes on cash and cash equivalents (2) (85) 137  41  (67)
Net change in cash and cash equivalents (6,309) 10,352  (641) (4,622) 2,824 
Cash and cash equivalents at beginning of period 17,940  7,588  8,229  12,851  10,027 
Cash and cash equivalents at end of period 11,631  17,940  7,588  8,229  12,851 

Based on: 10-K (filing date: 2020-02-25), 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).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Gilead Sciences Inc.’s net cash provided by operating activities decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Gilead Sciences Inc.’s net cash (used in) provided by investing activities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Gilead Sciences Inc.’s net cash provided by (used in) financing activities decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.