Document
false--12-31Q1202000008820957580000007930000000.630.680.0010.001560000000056000000001266000000125400000012660000001254000000000.0010.0015000000500000000 0000882095 2020-01-01 2020-03-31 0000882095 2020-04-30 0000882095 2020-03-31 0000882095 2019-12-31 0000882095 us-gaap:ProductMember 2019-01-01 2019-03-31 0000882095 2019-01-01 2019-03-31 0000882095 us-gaap:ProductMember 2020-01-01 2020-03-31 0000882095 gild:RoyaltyContractAndOtherMember 2019-01-01 2019-03-31 0000882095 gild:RoyaltyContractAndOtherMember 2020-01-01 2020-03-31 0000882095 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0000882095 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0000882095 us-gaap:AccountingStandardsUpdate201613Member us-gaap:RetainedEarningsMember 2020-01-01 0000882095 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0000882095 us-gaap:RetainedEarningsMember 2020-03-31 0000882095 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0000882095 us-gaap:RetainedEarningsMember 2019-12-31 0000882095 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0000882095 us-gaap:CommonStockMember 2019-12-31 0000882095 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000882095 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000882095 us-gaap:CommonStockMember 2020-03-31 0000882095 us-gaap:NoncontrollingInterestMember 2019-12-31 0000882095 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0000882095 us-gaap:NoncontrollingInterestMember 2020-03-31 0000882095 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0000882095 us-gaap:AccountingStandardsUpdate201613Member 2020-01-01 0000882095 us-gaap:CommonStockMember 2018-12-31 0000882095 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0000882095 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0000882095 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0000882095 us-gaap:NoncontrollingInterestMember 2019-03-31 0000882095 us-gaap:RetainedEarningsMember 2019-03-31 0000882095 us-gaap:CommonStockMember 2019-03-31 0000882095 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0000882095 2018-12-31 0000882095 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000882095 us-gaap:NoncontrollingInterestMember 2018-12-31 0000882095 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0000882095 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0000882095 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0000882095 us-gaap:RetainedEarningsMember 2018-12-31 0000882095 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000882095 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0000882095 2019-03-31 0000882095 us-gaap:AccountingStandardsUpdate201602Member us-gaap:RetainedEarningsMember 2019-01-01 0000882095 2020-01-01 0000882095 gild:MckessonCorpMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-03-31 0000882095 gild:AmerisourcebergenCorpMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-03-31 0000882095 gild:AmerisourcebergenCorpMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2020-01-01 2020-03-31 0000882095 gild:CardinalHealthIncMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2019-01-01 2019-03-31 0000882095 gild:CardinalHealthIncMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2020-01-01 2020-03-31 0000882095 gild:MckessonCorpMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsOtherMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 country:US 2019-01-01 2019-03-31 0000882095 gild:HIVProductsStribildMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsTruvadaMember country:US 2019-01-01 2019-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember country:US 2019-01-01 2019-03-31 0000882095 us-gaap:ProductMember country:US 2019-01-01 2019-03-31 0000882095 gild:HIVProductsGenvoyaMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsOtherMember 2020-01-01 2020-03-31 0000882095 gild:RoyaltyContractAndOtherMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsLetairisMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsOtherMember country:US 2019-01-01 2019-03-31 0000882095 gild:HIVProductsTruvadaMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:ProductsOtherHIVMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsDescovyMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsStribildMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsStribildMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsAtriplaMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsOdefseyMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsAtriplaMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsYescartaMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember country:US 2020-01-01 2020-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember 2020-01-01 2020-03-31 0000882095 srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsGenvoyaMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsOdefseyMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsAtriplaMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsOdefseyMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVireadMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsRanexaMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsTruvadaMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsRanexaMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 us-gaap:ProductMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsZydeligMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsDescovyMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsGenvoyaMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsAmBisomeMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsDescovyMember country:US 2019-01-01 2019-03-31 0000882095 gild:HCVProductsVoseviMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsLetairisMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsAtriplaMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsYescartaMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HCVProductsVoseviMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsVoseviMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsZydeligMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsStribildMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsGenvoyaMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsOdefseyMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsRanexaMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember country:US 2020-01-01 2020-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsAmBisomeMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsTruvadaMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsDescovyMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsVoseviMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsTruvadaMember 2020-01-01 2020-03-31 0000882095 gild:RoyaltyContractAndOtherMember country:US 2019-01-01 2019-03-31 0000882095 gild:RoyaltyContractAndOtherMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 us-gaap:ProductMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsOtherMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsStribildMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsLetairisMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsVemlidyMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 us-gaap:ProductMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsBiktarvyMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsYescartaMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsAmBisomeMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsAmBisomeMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsYescartaMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember country:US 2019-01-01 2019-03-31 0000882095 gild:HIVProductsAtriplaMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsStribildMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsOtherMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsOdefseyMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsVemlidyMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsBiktarvyMember 2019-01-01 2019-03-31 0000882095 us-gaap:ProductMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:ProductsOtherHIVMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember 2020-01-01 2020-03-31 0000882095 gild:ProductsOtherHIVMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:ProductsOtherHIVMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsGenvoyaMember 2019-01-01 2019-03-31 0000882095 gild:ProductsOtherHIVMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsOtherMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsOdefseyMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsAmBisomeMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsOtherMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsYescartaMember 2019-01-01 2019-03-31 0000882095 gild:HCVProductsVoseviMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HCVProductsVoseviMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:ProductsOtherHIVMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsAmBisomeMember country:US 2019-01-01 2019-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsZydeligMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVireadMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsLetairisMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsZydeligMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsVireadMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsRanexaMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsAtriplaMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsLetairisMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVireadMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsBiktarvyMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVemlidyMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsZydeligMember country:US 2019-01-01 2019-03-31 0000882095 gild:RoyaltyContractAndOtherMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsBiktarvyMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVemlidyMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsLetairisMember 2019-01-01 2019-03-31 0000882095 gild:RoyaltyContractAndOtherMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsDescovyMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVemlidyMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsYescartaMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVireadMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsRanexaMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsAmBisomeMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsStribildMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsTruvadaMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsYescartaMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVireadMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsRanexaMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsBiktarvyMember 2020-01-01 2020-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember 2019-01-01 2019-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HCVProductsSofosbuvirVelpatasvirMember country:US 2020-01-01 2020-03-31 0000882095 gild:ProductsOtherHIVMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HCVProductsVoseviMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsOdefseyMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsZydeligMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsBiktarvyMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsBiktarvyMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsAmBisomeMember 2020-01-01 2020-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsVireadMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsGenvoyaMember country:US 2019-01-01 2019-03-31 0000882095 gild:HCVProductsLedipasvirSofosbuvirMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsZydeligMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsGenvoyaMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsVireadMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsTruvadaMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsStribildMember country:US 2019-01-01 2019-03-31 0000882095 gild:HCVProductsVoseviMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsLetairisMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsDescovyMember country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsCompleraEvipleraMember gild:OtherInternationalMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsGenvoyaMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsLetairisMember country:US 2020-01-01 2020-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsZydeligMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsVemlidyMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsDescovyMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsDescovyMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsRanexaMember country:US 2019-01-01 2019-03-31 0000882095 gild:OtherProductsOtherMember country:US 2020-01-01 2020-03-31 0000882095 gild:RoyaltyContractAndOtherMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 gild:OtherProductsVemlidyMember country:US 2019-01-01 2019-03-31 0000882095 us-gaap:ProductMember srt:EuropeMember 2019-01-01 2019-03-31 0000882095 country:US 2020-01-01 2020-03-31 0000882095 gild:HIVProductsAtriplaMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsRanexaMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsAtriplaMember 2019-01-01 2019-03-31 0000882095 gild:HIVProductsTruvadaMember country:US 2020-01-01 2020-03-31 0000882095 gild:OtherProductsYescartaMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsOdefseyMember srt:EuropeMember 2020-01-01 2020-03-31 0000882095 gild:ProductsOtherHIVMember 2020-01-01 2020-03-31 0000882095 gild:HIVProductsBiktarvyMember country:US 2020-01-01 2020-03-31 0000882095 gild:ProductsRevenueShareSymtuzaMember gild:OtherInternationalMember 2020-01-01 2020-03-31 0000882095 gild:OtherProductsVemlidyMember country:US 2020-01-01 2020-03-31 0000882095 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember gild:OtherEquitySecuritiesMember 2020-03-31 0000882095 gild:OtherEquitySecuritiesMember 2019-12-31 0000882095 us-gaap:OtherNoncurrentAssetsMember gild:OtherEquitySecuritiesMember 2020-03-31 0000882095 us-gaap:OtherNoncurrentAssetsMember gild:OtherEquitySecuritiesMember 2019-12-31 0000882095 gild:OtherEquitySecuritiesMember 2020-03-31 0000882095 us-gaap:CashAndCashEquivalentsMember gild:OtherEquitySecuritiesMember 2019-12-31 0000882095 us-gaap:CashAndCashEquivalentsMember gild:OtherEquitySecuritiesMember 2020-03-31 0000882095 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember gild:OtherEquitySecuritiesMember 2019-12-31 0000882095 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:DeferredCompensationPlanMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:MoneyMarketFundsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:ForeignCurrencyDerivativeContractsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:CorporateDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:EquitySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:USTreasurySecuritiesMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000882095 gild:EquityinvestmentinGalapagosMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2020-03-31 0000882095 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-03-31 0000882095 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-03-31 0000882095 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0000882095 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0000882095 us-gaap:CorporateDebtSecuritiesMember 2019-12-31 0000882095 us-gaap:CorporateDebtSecuritiesMember 2020-03-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember 2020-03-31 0000882095 gild:MarketableSecuritiesCurrentMember 2020-03-31 0000882095 us-gaap:CashAndCashEquivalentsMember 2019-12-31 0000882095 gild:MarketableSecuritiesCurrentMember 2019-12-31 0000882095 us-gaap:CashAndCashEquivalentsMember 2020-03-31 0000882095 gild:MarketableSecuritiesNoncurrentMember 2020-03-31 0000882095 gild:MarketableSecuritiesNoncurrentMember 2019-12-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2019-12-31 0000882095 us-gaap:CertificatesOfDepositMember 2020-03-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember 2020-03-31 0000882095 us-gaap:USTreasurySecuritiesMember 2020-03-31 0000882095 us-gaap:CertificatesOfDepositMember 2019-12-31 0000882095 us-gaap:USTreasurySecuritiesMember 2019-12-31 0000882095 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2020-03-31 0000882095 us-gaap:ForeignGovernmentDebtSecuritiesMember 2019-12-31 0000882095 gild:ResidentialMortgageAndAssetBackedSecuritiesMember 2019-12-31 0000882095 us-gaap:OtherCurrentAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0000882095 us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0000882095 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0000882095 us-gaap:OtherCurrentLiabilitiesMember us-gaap:NondesignatedMember 2020-03-31 0000882095 us-gaap:NondesignatedMember 2020-03-31 0000882095 us-gaap:OtherCurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0000882095 us-gaap:OtherNoncurrentAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0000882095 us-gaap:OtherCurrentAssetsMember us-gaap:NondesignatedMember 2020-03-31 0000882095 us-gaap:OtherCurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000882095 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000882095 us-gaap:NondesignatedMember 2019-12-31 0000882095 us-gaap:OtherNoncurrentAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000882095 us-gaap:OtherCurrentAssetsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000882095 us-gaap:OtherCurrentLiabilitiesMember us-gaap:NondesignatedMember 2019-12-31 0000882095 us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0000882095 us-gaap:OtherCurrentAssetsMember us-gaap:NondesignatedMember 2019-12-31 0000882095 srt:MaximumMember 2020-01-01 2020-03-31 0000882095 gild:OtherCollaborationArrangementsMember 2020-01-01 2020-03-31 0000882095 gild:FortySevenMember us-gaap:SubsequentEventMember 2020-04-07 0000882095 gild:OtherCollaborationArrangementsMember 2019-01-01 2019-03-31 0000882095 gild:IntangibleAssetSofosbuvirMember 2019-12-31 0000882095 gild:IndefinitelivedIntangibleAssetsIPRDMember 2020-03-31 0000882095 gild:RanexaMember 2019-01-01 2019-12-31 0000882095 gild:IndefinitelivedIntangibleAssetsIPRDMember 2019-12-31 0000882095 gild:RanexaMember 2020-03-31 0000882095 us-gaap:OtherIntangibleAssetsMember 2020-03-31 0000882095 us-gaap:OtherIntangibleAssetsMember 2019-01-01 2019-12-31 0000882095 us-gaap:InProcessResearchAndDevelopmentMember 2020-01-01 2020-03-31 0000882095 2019-01-01 2019-12-31 0000882095 us-gaap:InProcessResearchAndDevelopmentMember 2019-01-01 2019-12-31 0000882095 gild:AxicabtageneciloleucelDLBCLMember 2019-12-31 0000882095 gild:AxicabtageneciloleucelDLBCLMember 2019-01-01 2019-12-31 0000882095 gild:RanexaMember 2020-01-01 2020-03-31 0000882095 gild:RanexaMember 2019-12-31 0000882095 gild:IntangibleAssetSofosbuvirMember 2020-03-31 0000882095 gild:AxicabtageneciloleucelDLBCLMember 2020-03-31 0000882095 gild:AxicabtageneciloleucelDLBCLMember 2020-01-01 2020-03-31 0000882095 us-gaap:OtherIntangibleAssetsMember 2019-12-31 0000882095 gild:IntangibleAssetSofosbuvirMember 2020-01-01 2020-03-31 0000882095 gild:IntangibleAssetSofosbuvirMember 2019-01-01 2019-12-31 0000882095 us-gaap:OtherIntangibleAssetsMember 2020-01-01 2020-03-31 0000882095 gild:SeniorUnsecuredNoteIssuedNovember2014Member us-gaap:UnsecuredDebtMember 2020-01-01 2020-03-31 0000882095 gild:CreditFacilityDueMay2021Member 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinFebruary2025Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinApril2024Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2026Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueDecember2041Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinFebruary2045Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2046Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2046Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2020Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2027Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueApril2021Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2022Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2022Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2023Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueDecember2041Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2047Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinApril2044Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueDecember2021Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinFebruary2025Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2026Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueApril2021Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2022Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueInFebruary2020Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2020Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueInFebruary2020Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2027Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2022Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinFebruary2045Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2023Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2035Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2036Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2036Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinSeptember2035Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinMarch2047Member us-gaap:UnsecuredDebtMember 2019-12-31 0000882095 gild:SeniorUnsecuredNotesDueinApril2024Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueinApril2044Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:SeniorUnsecuredNotesDueDecember2021Member us-gaap:UnsecuredDebtMember 2020-03-31 0000882095 gild:CreditFacilityDueMay2021Member 2019-12-31 0000882095 gild:IndenixMember 2016-12-01 2016-12-31 0000882095 gild:JunoMember us-gaap:SubsequentEventMember 2020-04-08 0000882095 gild:JunoMember 2020-03-31 0000882095 gild:JunoMember srt:MaximumMember 2020-03-31 0000882095 gild:IndenixMember 2018-04-01 2018-06-30 0000882095 gild:JunoMember 2019-12-01 2019-12-31 0000882095 gild:JunoMember srt:MinimumMember 2020-03-31 0000882095 gild:JunoMember 2019-12-13 0000882095 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2020-03-31 0000882095 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-12-31 0000882095 us-gaap:AccumulatedTranslationAdjustmentMember 2020-03-31 0000882095 us-gaap:AccumulatedTranslationAdjustmentMember 2020-01-01 2020-03-31 0000882095 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-01-01 2020-03-31 0000882095 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2020-01-01 2020-03-31 0000882095 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-03-31 0000882095 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-12-31 0000882095 us-gaap:AccumulatedTranslationAdjustmentMember 2019-12-31 0000882095 gild:A2016StockRepurchaseProgramMember 2016-01-28 0000882095 gild:A2016StockRepurchaseProgramMember 2020-03-31 0000882095 gild:A2016StockRepurchaseProgramMember 2020-01-01 2020-03-31 0000882095 gild:A2016StockRepurchaseProgramMember 2019-01-01 2019-03-31 0000882095 gild:A2020StockRepurchaseProgramMember 2020-01-29 0000882095 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-03-31 0000882095 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-03-31 0000882095 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-12-31 0000882095 us-gaap:AccumulatedTranslationAdjustmentMember 2019-01-01 2019-03-31 0000882095 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-03-31 0000882095 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-03-31 0000882095 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-12-31 0000882095 us-gaap:AccumulatedTranslationAdjustmentMember 2019-03-31 0000882095 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 xbrli:pure iso4217:USD xbrli:shares gild:position xbrli:shares gild:segment iso4217:USD


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 10-Q
 
 
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2020
or 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________

Commission File No. 0-19731
 
 
GILEAD SCIENCES, INC.

(Exact Name of Registrant as Specified in Its Charter)
 
Delaware
94-3047598
(State or Other Jurisdiction of Incorporation)
(IRS Employer Identification No.)
333 Lakeside Drive, Foster City, California 94404
(Address of principal executive offices) (Zip Code)
650-574-3000
(Registrant’s Telephone Number, Including Area Code)
 
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
Common Stock, par value, $0.001 per share
 
GILD
 
The Nasdaq Global Select Market
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes x    No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x    No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer x Accelerated filer ¨ Non-accelerated filer ¨    
Smaller reporting company Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes     No x
Number of shares outstanding of the issuer’s common stock, par value $0.001 per share, as of April 30, 2020: 1,254,373,400
 





GILEAD SCIENCES, INC.
INDEX

PART I.
 
 
 
 
 
 
 
Item 1.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Item 2.
 
 
 
 
 
 
 
Item 3.
 
 
 
 
 
 
 
Item 4.
 
 
 
 
 
 
PART II.
 
 
 
 
 
 
 
Item 1.
 
 
 
 
 
 
 
Item 1A.
 
 
 
 
 
 
 
Item 2.
 
 
 
 
 
 
 
Item 3.
 
 
 
 
 
 
 
Item 4.
 
 
 
 
 
 
 
Item 5.
 
 
 
 
 
 
 
Item 6.
 
 
 
 
 
 
 


We own or have rights to various trademarks, copyrights and trade names used in our business, including the following: GILEAD®, GILEAD SCIENCES®, AMBISOME®, ATRIPLA®, BIKTARVY®, CAYSTON®, COMPLERA®, DESCOVY®, DESCOVY FOR PREP®, EMTRIVA®, EPCLUSA®, EVIPLERA®, GENVOYA®, HARVONI®, HEPSERA®, LETAIRIS®, ODEFSEY®, RANEXA®, SOVALDI®, STRIBILD®, TRUVADA®, TRUVADA FOR PREP®, TYBOST®, VEMLIDY®, VIREAD®, VOSEVI®, YESCARTA® and ZYDELIG®. LEXISCAN® is a registered trademark of Astellas U.S. LLC. MACUGEN® is a registered trademark of Eyetech, Inc. SYMTUZA® is a registered trademark of Janssen Sciences Ireland UC. TAMIFLU® is a registered trademark of Hoffmann-La Roche Inc. This report also includes other trademarks, service marks and trade names of other companies.







PART I.
FINANCIAL INFORMATION
Item 1.    CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(in millions, except per share amounts)
 
March 31, 2020
 
December 31, 2019
Assets
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
10,051

 
$
11,631

Short-term marketable securities
10,734

 
12,721

Accounts receivable, net of allowances of $793 and $758, respectively
3,907

 
3,582

Inventories
986

 
922

Prepaid and other current assets
1,272

 
1,440

Total current assets
26,950

 
30,296

Property, plant and equipment, net
4,564

 
4,502

Long-term marketable securities
3,529

 
1,488

Intangible assets, net
13,502

 
13,786

Goodwill
4,117

 
4,117

Other long-term assets
7,079

 
7,438

Total assets
$
59,741

 
$
61,627

Liabilities and Stockholders’ Equity
 

 
 

Current liabilities:
 

 
 

Accounts payable
$
590

 
$
713

Accrued government and other rebates
3,457

 
3,473

Other accrued liabilities
2,833

 
3,074

Current portion of long-term debt and other obligations, net
1,999

 
2,499

Total current liabilities
8,879

 
9,759

Long-term debt, net
22,098

 
22,094

Long-term income taxes payable
5,595

 
6,115

Other long-term obligations
990

 
1,009

Commitments and contingencies (Note 10)


 


Stockholders’ equity:
 

 
 

Preferred stock, par value $0.001 per share; 5 shares authorized; none outstanding

 

Common stock, par value $0.001 per share; 5,600 shares authorized; 1,254 and 1,266 shares issued and outstanding, respectively
1

 
1

Additional paid-in capital
3,311

 
3,051

Accumulated other comprehensive income
46

 
85

Retained earnings
18,709

 
19,388

Total Gilead stockholders’ equity
22,067

 
22,525

Noncontrolling interest
112

 
125

Total stockholders’ equity
22,179

 
22,650

Total liabilities and stockholders’ equity
$
59,741

 
$
61,627





See accompanying notes.

2



GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
(in millions, except per share amounts)
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Revenues:
 
 
 
 
Product sales
 
$
5,467

 
$
5,200

Royalty, contract and other revenues
 
81

 
81

Total revenues
 
5,548

 
5,281

Costs and expenses:
 
 
 
 
Cost of goods sold
 
969

 
957

Research and development expenses
 
1,101

 
1,057

Selling, general and administrative expenses
 
1,076

 
1,030

Total costs and expenses
 
3,146

 
3,044

Income from operations
 
2,402

 
2,237

Interest expense
 
(241
)
 
(254
)
Other income (expense), net
 
(158
)
 
367

Income before provision for income taxes
 
2,003

 
2,350

Provision for income taxes
 
465

 
382

Net income
 
1,538

 
1,968

Net loss attributable to noncontrolling interest
 
(13
)
 
(7
)
Net income attributable to Gilead
 
$
1,551

 
$
1,975

 
 
 
 
 
Net income per share attributable to Gilead common stockholders - basic
 
$
1.23

 
$
1.55

Shares used in per share calculation - basic
 
1,262

 
1,276

Net income per share attributable to Gilead common stockholders - diluted
 
$
1.22

 
$
1.54

Shares used in per share calculation - diluted
 
1,270

 
1,283
























See accompanying notes.

3



GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)
(in millions)
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Net income
 
$
1,538

 
$
1,968

Other comprehensive income:
 
 
 
 
Net foreign currency translation (loss) gain, net of tax
 
(39
)
 
21

Available-for-sale debt securities:
 
 
 
 
Net unrealized (loss) gain, net of tax
 
(23
)
 
30

Reclassifications to net income, net of tax
 
(11
)
 

Net change
 
(34
)
 
30

Cash flow hedges:
 
 
 
 
Net unrealized gain, net of tax
 
57

 
28

Reclassifications to net income, net of tax
 
(23
)
 
(29
)
Net change
 
34

 
(1
)
Other comprehensive (loss) income
 
(39
)
 
50

Comprehensive income
 
1,499

 
2,018

Comprehensive loss attributable to noncontrolling interest
 
(13
)
 
(7
)
Comprehensive income attributable to Gilead
 
$
1,512

 
$
2,025
































See accompanying notes.

4



GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(unaudited)
(in millions, except per share amounts)

 
 
Three Months Ended March 31, 2020
 
 
Gilead Stockholders’ Equity 
 
Noncontrolling
Interest
 
Total
Stockholders’
Equity
 
Common Stock 
 
Additional
Paid-In
Capital
 
Accumulated
Other
Comprehensive
 
Income
 
Retained
Earnings
 
 
Shares
 
Amount
 
 
Balance at December 31, 2019
 
1,266

 
$
1

 
$
3,051

 
$
85

 
$
19,388

 
$
125

 
$
22,650

Net income (loss)
 

 

 

 

 
1,551

 
(13
)
 
1,538

Other comprehensive loss, net of tax
 

 

 

 
(39
)
 

 

 
(39
)
Issuances under employee stock purchase plan
 
1

 

 
66

 

 

 

 
66

Issuances under equity incentive plans
 
7

 

 
111

 

 

 

 
111

Stock-based compensation
 

 

 
141

 

 

 

 
141

Repurchases of common stock
 
(20
)
 

 
(58
)
 

 
(1,356
)
 

 
(1,414
)
Dividends declared ($0.68 per share)
 

 

 

 

 
(867
)
 

 
(867
)
Cumulative effect from the adoption of new accounting standard (Note 1)
 

 

 

 

 
(7
)
 

 
(7
)
Balance at March 31, 2020
 
1,254

 
$
1

 
$
3,311

 
$
46

 
$
18,709

 
$
112

 
$
22,179


 
 
Three Months Ended March 31, 2019
 
 
Gilead Stockholders’ Equity 
 
Noncontrolling
Interest
 
Total
Stockholders’
Equity
 
Common Stock 
 
Additional
Paid-In
Capital
 
Accumulated
Other
Comprehensive
 
Income
 
Retained
Earnings
 
 
Shares
 
Amount
 
 
Balance at December 31, 2018
 
1,282

 
$
1

 
$
2,282

 
$
80

 
$
19,024

 
$
147

 
$
21,534

Net income (loss)
 

 

 

 

 
1,975

 
(7
)
 
1,968

Other comprehensive income, net of tax
 

 

 

 
50

 

 

 
50

Issuances under employee stock purchase plan
 
1

 

 
63

 

 

 

 
63

Issuances under equity incentive plans
 
4

 

 
41

 

 

 

 
41

Stock-based compensation
 

 

 
144

 

 

 

 
144

Repurchases of common stock
 
(13
)
 

 
(36
)
 

 
(867
)
 

 
(903
)
Dividends declared ($0.63 per share)
 

 

 

 

 
(814
)
 

 
(814
)
Cumulative effect from the adoption of new accounting standard
 

 

 

 

 
8

 

 
8

Balance at March 31, 2019
 
1,274

 
$
1

 
$
2,494

 
$
130

 
$
19,326

 
$
140

 
$
22,091
















See accompanying notes.

5



GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(in millions)
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Operating Activities:
 
 
 
 
Net income
 
$
1,538

 
$
1,968

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
Depreciation expense
 
68

 
60

Amortization expense
 
281

 
299

Stock-based compensation expense
 
141

 
143

Deferred income taxes
 
56

 
24

Net unrealized loss (gain) from equity securities
 
283

 
(197
)
Up-front and milestone expense related to collaborative and other arrangements
 
111

 
133

Other
 
59

 
40

Changes in operating assets and liabilities:
 
 
 
 
Accounts receivable, net
 
(376
)
 
32

Inventories
 
15

 
(15
)
Prepaid expenses and other
 
46

 
(43
)
Accounts payable
 
(109
)
 
(201
)
Income taxes payable
 
(127
)
 
(249
)
Accrued liabilities and other
 
(550
)
 
(417
)
Net cash provided by operating activities
 
1,436

 
1,577

 
 
 
 
 
Investing Activities:
 
 
 
 
Purchases of marketable debt securities
 
(13,158
)
 
(6,722
)
Proceeds from sales of marketable debt securities
 
9,656

 
575

Proceeds from maturities of marketable debt securities
 
3,449

 
6,511

Up-front and milestone payments related to collaborative and other arrangements
 
(112
)
 
(133
)
Purchases of equity securities
 
(8
)
 
(56
)
Capital expenditures
 
(171
)
 
(237
)
Other
 

 
(182
)
Net cash used in investing activities
 
(344
)
 
(244
)
 
 
 
 
 
Financing Activities:
 
 
 
 
Proceeds from issuances of common stock
 
177

 
103

Repurchases of common stock
 
(1,328
)
 
(834
)
Repayments of debt and other obligations
 
(500
)
 
(750
)
Payments of dividends
 
(874
)
 
(817
)
Other
 
(86
)
 
(68
)
Net cash used in financing activities
 
(2,611
)
 
(2,366
)
Effect of exchange rate changes on cash and cash equivalents
 
(61
)
 
20

Net change in cash and cash equivalents
 
(1,580
)
 
(1,013
)
Cash and cash equivalents at beginning of period
 
11,631

 
17,940

Cash and cash equivalents at end of period
 
$
10,051

 
$
16,927




See accompanying notes.

6



GILEAD SCIENCES, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information. The financial statements include all adjustments consisting of normal recurring adjustments that the management of Gilead Sciences, Inc. (Gilead, we, our or us) believes are necessary for a fair presentation of the periods presented. These interim financial results are not necessarily indicative of results expected for the full fiscal year or for any subsequent interim period.
The accompanying Condensed Consolidated Financial Statements include the accounts of Gilead, our wholly-owned subsidiaries and certain variable interest entities for which we are the primary beneficiary. All intercompany transactions have been eliminated. For consolidated entities where we own or are exposed to less than 100% of the economics, we record net income (loss) attributable to noncontrolling interest in our Condensed Consolidated Statements of Income equal to the percentage of the economic or ownership interest retained in such entities by the respective noncontrolling parties.
We assess whether we are the primary beneficiary of a variable interest entity (VIE) at the inception of the arrangement and at each reporting date. This assessment is based on our power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and our obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.
The accompanying Condensed Consolidated Financial Statements and related Notes to Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the related notes thereto for the year ended December 31, 2019, included in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.
Segment Information
We have one operating segment, which focuses on the discovery, development and commercialization of innovative medicines in areas of unmet medical need. Our Chief Executive Officer (CEO), as the chief operating decision-maker, manages and allocates resources to the operations of our company on an entity-wide basis. Managing and allocating resources on an entity-wide basis enables our CEO to assess the overall level of resources available and how to best deploy these resources across functions and research and development (R&D) projects based on unmet medical need and, as necessary, reallocate resources among our internal R&D portfolio and external opportunities to best support the long-term growth of our business. See Note 2. Revenues for additional information.
Significant Accounting Policies, Estimates and Judgments
The preparation of these Condensed Consolidated Financial Statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. On an ongoing basis, we evaluate our significant accounting policies and estimates. We base our estimates on historical experience and on various market-specific and other relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Estimates are assessed each period and updated to reflect current information, such as the economic considerations related to the impact that the recent coronavirus disease (COVID-19) could have on our significant accounting estimates. Actual results could differ materially from these estimates under different assumptions or conditions.
Reclassification
Certain amounts for the three months ended March 31, 2019 were reclassified to conform to the current period presentation. Up-front and milestone payments related to collaborative and other arrangements of $133 million previously classified as cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows are now presented as cash flows from investing activities.
Concentrations of Risk
We are subject to credit risk from our portfolio of cash equivalents and marketable securities. Under our investment policy, we limit amounts invested in such securities by credit rating, maturity, industry group, investment type and issuer, except for securities issued by the U.S. government. We are not exposed to any significant concentrations of credit risk from our investment portfolio. The goals of our investment policy, in order of priority, are as follows: safety and preservation of principal and diversification of risk; liquidity of investments sufficient to meet cash flow requirements; and a competitive after-tax rate of return.

7



We are also subject to credit risk from our accounts receivable related to our product sales. Trade accounts receivable are recorded net of allowances for wholesaler chargebacks related to government and other programs, cash discounts for prompt payment and credit losses. Estimates of our allowance for credit losses consider a number of factors including existing contractual payment terms, individual customer circumstances, historical payment patterns of our customers, a review of the local economic environment and its potential impact on expected future customer payment patterns and government funding and reimbursement practices. The majority of our trade accounts receivable arises from product sales in the United States, Europe and Japan. Our allowance for credit losses was $55 million and $47 million as of March 31, 2020 and January 1, 2020, respectively. There were no write-offs charged against the allowance for the three months ended March 31, 2020.
Recently Adopted Accounting Standards
In June 2016, the FASB issued Accounting Standards Update No. 2016-13 “Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments” (ASU 2016-13) and has since modified the standard with several ASUs (collectively the “new credit loss standard”). The new credit loss standard requires measurement and recognition of expected credit losses for financial assets. On January 1, 2020, we adopted this standard using a modified retrospective approach. The adoption did not have a material impact on our Condensed Consolidated Financial Statements.
In November 2018, the FASB issued Accounting Standards Update No. 2018-18 “Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606” (ASU 2018-18). ASU 2018-18 clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under ASC 606 when the counterparty is a customer. In addition, the update precludes an entity from presenting consideration from a transaction in a collaborative arrangement as customer revenue if the counterparty is not a customer for that transaction. On January 1, 2020, we adopted this standard and applied it retrospectively to January 1, 2018 when we initially adopted Topic 606. The adoption did not have an impact on our Condensed Consolidated Financial Statements.


8



2.
REVENUES
Disaggregation of Revenues
The following table disaggregates our product sales by product and geographic region and disaggregates our royalty, contract and other revenues by geographic region (in millions):
 
 
Three Months Ended March 31, 2020
 
Three Months Ended March 31, 2019
 
 
U.S.
 
Europe
 
Other Locations
 
Total
 
U.S.
 
Europe
 
Other Locations
 
Total
Product sales:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Atripla
 
$
81

 
$
7

 
$
7

 
$
95

 
$
133

 
$
16

 
$
22

 
$
171

Biktarvy
 
1,412

 
181

 
100

 
1,693

 
739

 
48

 
6

 
793

Complera/Eviplera
 
24

 
47

 
5

 
76

 
44

 
62

 
9

 
115

Descovy
 
363

 
61

 
34

 
458

 
233

 
68

 
41

 
342

Genvoya
 
612

 
151

 
61

 
824

 
728

 
193

 
94

 
1,015

Odefsey
 
269

 
127

 
13

 
409

 
282

 
106

 
9

 
397

Stribild
 
34

 
17

 
2

 
53

 
67

 
18

 
11

 
96

Truvada
 
383

 
8

 
15

 
406

 
551

 
33

 
22

 
606

Other HIV(1)
 
3

 
2

 
3

 
8

 
11

 
1

 
5

 
17

Revenue share – Symtuza(2)
 
72

 
38

 
2

 
112

 
42

 
24

 

 
66

AmBisome
 
18

 
59

 
42

 
119

 
8

 
57

 
28

 
93

Ledipasvir/Sofosbuvir(3)
 
53

 
11

 
48

 
112

 
117

 
27

 
81

 
225

Letairis
 
83

 

 

 
83

 
197

 

 

 
197

Ranexa
 
8

 

 

 
8

 
155

 

 

 
155

Sofosbuvir/Velpatasvir(4)
 
311

 
122

 
131

 
564

 
230

 
154

 
107

 
491

Vemlidy
 
73

 
7

 
56

 
136

 
65

 
4

 
32

 
101

Viread
 
4

 
11

 
25

 
40

 
12

 
14

 
46

 
72

Vosevi
 
33

 
11

 
4

 
48

 
45

 
16

 
2

 
63

Yescarta
 
103

 
37

 

 
140

 
90

 
6

 

 
96

Zydelig
 
8

 
12

 

 
20

 
11

 
15

 
1

 
27

Other(5)
 
42

 
18

 
3

 
63

 
36

 
20

 
6

 
62

Total product sales
 
3,989

 
927

 
551

 
5,467

 
3,796

 
882

 
522

 
5,200

Royalty, contract and other revenues
 
17

 
48

 
16

 
81

 
22

 
56

 
3

 
81

Total revenues
 
$
4,006

 
$
975

 
$
567

 
$
5,548

 
$
3,818

 
$
938

 
$
525