Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Cash Flow Statement 

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

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income 480 5,613 4,566 6,201 89
Depreciation expense 381 354 323 329 288
Amortization expense 2,386 2,339 1,780 1,721 1,192
Stock-based compensation expense 835 766 637 635 643
Deferred income taxes (1,844) (962) (1,552) (116) (214)
Net loss from equity securities 274 167 657 610 1,662
Acquired in-process research and development expenses 4,663 1,155 944 177 5,856
In-process research and development impairment 4,180 50 2,700
Other 353 827 780 1,338 290
Accounts receivable, net 139 157 (406) 313 (1,171)
Inventories (426) (842) (310) 11 (195)
Prepaid expenses and other (259) 39 (134) (45) (214)
Accounts payable 290 (347) 226 (118) 80
Income tax assets and liabilities, net (732) (1,768) (364) (361) (778)
Accrued and other liabilities 108 458 (775) 689 640
Changes in operating assets and liabilities (880) (2,303) (1,763) 489 (1,638)
Adjustments to reconcile net income to net cash provided by operating activities 10,348 2,393 4,506 5,183 8,079
Net cash provided by operating activities 10,828 8,006 9,072 11,384 8,168
Purchases of marketable debt securities (244) (1,930) (1,770) (3,517) (20,315)
Proceeds from sales of marketable debt securities 2,265 510 412 730 23,239
Proceeds from maturities of marketable debt securities 327 1,334 1,590 2,180 9,479
Acquisitions, including in-process research and development, net of cash acquired (4,840) (1,152) (1,797) (1,402) (25,742)
Purchases of equity securities (492) (442) (172) (380) (455)
Capital expenditures (523) (585) (728) (579) (650)
Other 58 (1) (163) (171)
Net cash used in investing activities (3,449) (2,265) (2,466) (3,131) (14,615)
Proceeds from debt financing, net of issuance costs 3,464 1,980 8,184
Proceeds from issuances of common stock 422 232 309 169 256
Repurchases of common stock under repurchase programs (1,150) (1,000) (1,396) (546) (1,583)
Repayments of debt and other obligations (1,970) (2,250) (1,500) (4,750) (2,500)
Payments of dividends (3,918) (3,809) (3,709) (3,605) (3,449)
Other (281) (278) (173) (145) (138)
Net cash provided by (used in) financing activities (3,433) (5,125) (6,469) (8,877) 770
Effect of exchange rate changes on cash and cash equivalents (40) 57 (63) (35) 43
Net change in cash and cash equivalents 3,906 673 74 (659) (5,634)
Cash and cash equivalents at beginning of period 6,085 5,412 5,338 5,997 11,631
Cash and cash equivalents at end of period 9,991 6,085 5,412 5,338 5,997

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).

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 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 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 2022 to 2023 but then decreased significantly from 2023 to 2024.
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 increased from 2022 to 2023 and from 2023 to 2024.