Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company 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 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 (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net income (loss) 1,417 2,172 1,039 985 1,633 1,786 1,135 12 376 2,586 1,517 1,722 1,544 353 (3,346) 1,538 2,689 (1,168) 1,875 1,968
Depreciation expense 91 86 83 94 83 80 80 80 90 82 79 78 79 73 68 68 69 66 60 60
Amortization expense 597 598 598 546 445 445 445 445 445 441 440 395 348 282 281 281 281 281 288 299
Stock-based compensation expense 201 202 198 165 174 168 165 130 159 171 166 139 161 173 168 141 157 162 174 143
Acquired in-process research and development expenses 347 91 236 481 158 448 330 8 19 96 62 64 1,171 4,524 97 3,960 165 126
In-process research and development impairment 50 2,700 800
Deferred income taxes (370) (68) (221) (303) (338) (270) (293) (651) (359) 240 (68) 71 (202) (121) 53 56 (1,302) (824) 4 24
Net (gain) loss from equity securities (189) 169 (69) 256 61 197 303 96 (57) 142 174 351 616 964 (201) 283 (929) (58) (57) (197)
Other 568 54 143 62 234 126 238 182 737 25 375 201 80 80 57 73 627 118 34 47
Accounts receivable, net 220 (612) (86) 635 (281) (372) (452) 699 41 (422) (281) 975 (837) (702) 744 (376) (251) 101 (100) 32
Inventories (307) (82) (226) (227) (276) (95) 8 53 35 70 (25) (69) (147) (26) (37) 15 (60) (23) 3 (15)
Prepaid expenses and other (32) 5 40 26 (65) 12 (27) (54) (25) (15) 6 (8) (236) (54) 30 46 (82) (191) 9 (43)
Accounts payable (43) (29) (3) (272) 264 66 (13) (91) 124 (20) 31 (253) 214 (21) (4) (109) 81 24 35 (201)
Income tax assets and liabilities, net (698) (881) (28) (161) 119 108 (479) (112) 99 72 (219) (316) (350) (67) (234) (127) 165 381 (25) (249)
Accrued and other liabilities 317 50 634 (543) 356 164 362 (1,657) 1,540 (138) 25 (738) 582 145 463 (550) 335 (184) (123) (417)
Changes in operating assets and liabilities (543) (1,549) 331 (542) 117 (117) (601) (1,162) 1,814 (453) (463) (409) (774) (725) 962 (1,101) 188 108 (201) (893)
Adjustments to reconcile net income (loss) to net cash provided by operating activities 752 (417) 1,299 759 934 1,077 667 1,828 2,829 667 799 888 372 1,897 5,912 (102) (109) 3,813 467 (391)
Net cash provided by operating activities 2,169 1,755 2,338 1,744 2,567 2,863 1,802 1,840 3,205 3,253 2,316 2,610 1,916 2,250 2,566 1,436 2,580 2,645 2,342 1,577
Purchases of marketable debt securities (456) (369) (578) (527) (372) (308) (477) (613) (626) (813) (1,147) (931) (506) (3,056) (3,595) (13,158) (6,398) (7,035) (10,300) (6,722)
Proceeds from sales of marketable debt securities 98 95 150 167 42 47 204 119 224 255 191 60 10,872 1,941 770 9,656 3,001 2,958 989 575
Proceeds from maturities of marketable debt securities 349 266 395 324 358 277 449 506 372 558 631 619 951 2,301 2,778 3,449 4,759 7,610 3,518 6,511
Acquisitions, including in-process research and development, net of cash acquired (279) (79) (243) (551) (218) (448) (324) (807) (1) (54) (92) (1,255) (19,938) (1,000) (4,804) (4,012) (239)
Purchases of equity securities (224) (26) (67) (125) (6) (122) (16) (28) (48) (31) (22) (279) (67) (302) (78) (8) (522) (1,147) (48) (56)
Capital expenditures (215) (122) (139) (109) (181) (157) (143) (247) (156) (139) (119) (165) (181) (155) (143) (171) (203) (200) (185) (237)
Other 6 (1) (5) 2 (2) (1) (43) (10) (19) (91) (108) 49 (112) (206) (15) 102 (315)
Net cash used in investing activities (727) (229) (483) (826) (375) (713) (308) (1,070) (278) (234) (577) (2,042) (8,977) (271) (5,023) (344) 431 (1,841) (6,163) (244)
Proceeds from debt financing, net of issuance costs 1 1,979 995 7,189
Proceeds from issuances of common stock 26 83 26 97 176 36 3 94 12 57 12 88 8 36 35 177 27 41 38 103
Repurchases of common stock under repurchase programs (150) (300) (150) (400) (792) (180) (72) (352) (49) (145) (43) (309) (201) (54) (1,328) (105) (222) (588) (834)
Repayments of debt and other obligations (2,250) (1,000) (500) (1,000) (2,500) (1,250) (2,000) (500) (1,500) (500) (750)
Payments of dividends (943) (953) (944) (969) (915) (929) (920) (945) (894) (900) (894) (917) (858) (861) (856) (874) (801) (804) (800) (817)
Other (33) (78) (33) (134) (23) (45) (14) (91) (11) (39) (6) (89) (14) (39) 1 (86) (17) (30) (7) (68)
Net cash provided by (used in) financing activities (1,099) (1,519) (1,101) (1,406) (1,554) (2,118) (1,003) (1,794) (1,942) (3,527) (931) (2,477) 131 4,124 (874) (2,611) (896) (2,515) (1,857) (2,366)
Effect of exchange rate changes on cash and cash equivalents 37 (6) 14 12 75 (72) (48) (18) (9) (23) 20 (23) 41 37 26 (61) 42 (55) (9) 20
Net change in cash and cash equivalents 380 1 768 (476) 713 (40) 443 (1,042) 976 (531) 828 (1,932) (6,889) 6,140 (3,305) (1,580) 2,157 (1,766) (5,687) (1,013)

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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. net cash provided by operating activities decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.
Net cash used in 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. net cash used in investing activities increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.
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. net cash provided by (used in) financing activities decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.