GILD 10-Q

Gilead Sciences, Inc. (GILD)

10-Q 2020-11-04 For: 2020-09-30

View Original

Added on April 11, 2026

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Delaware			94-3047598
(State or Other Jurisdiction of Incorporation or Organization)			(IRS Employer Identification No.)


	September 30, 2020		December 31, 2019
Assets
Current assets:
Cash and cash equivalents	$	12,886	$	11,631
Short-term marketable securities	11,089		12,721
Accounts receivable, net of allowances of $714 and $758, respectively	3,913		3,582
Inventories	1,008		922
Prepaid and other current assets	2,030		1,440
Total current assets	30,926		30,296
Property, plant and equipment, net	4,810		4,502
Long-term marketable securities	2,074		1,488
Intangible assets, net	12,939		13,786
Goodwill	4,117		4,117
Other long-term assets	6,012		7,438
Total assets	$	60,878	$	61,627
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	527	$	713
Accrued government and other rebates	3,343		3,473
Other accrued liabilities	4,141		3,074
Current portion of long-term debt	1,498		2,499
Total current liabilities	9,509		9,759
Long-term debt, net	27,792		22,094
Long-term income taxes payable	5,020		6,115
Other long-term obligations	1,086		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; 1,253 and 1,266 shares issued and outstanding, respectively	1		1
Additional paid-in capital	3,712		3,051
Accumulated other comprehensive income	23		85
Retained earnings	13,709		19,388
Total Gilead stockholders’ equity	17,445		22,525
Noncontrolling interest	26		125
Total stockholders’ equity	17,471		22,650
Total liabilities and stockholders’ equity	$	60,878	$	61,627


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Revenues:
Product sales	$	6,493	$	5,516	$	17,027	$	16,323
Royalty, contract and other revenues	84		88		241		247
Total revenues	6,577		5,604		17,268		16,570
Costs and expenses:
Cost of goods sold	1,141		1,035		3,174		2,992
Research and development expenses	1,158		1,030		3,461		2,956
Acquired in-process research and development expenses	1,171		3,960		5,792		4,251
Selling, general and administrative expenses	1,106		1,052		3,421		3,177
Total costs and expenses	4,576		7,077		15,848		13,376
Income (loss) from operations	2,001		(1,473)		1,420		3,194
Interest expense	(236)		(250)		(717)		(752)
Other income (expense), net	(940)		222		(848)		817
Income (loss) before income taxes	825		(1,501)		(145)		3,259
Income tax expense (benefit)	472		(333)		1,310		584
Net income (loss)	353		(1,168)		(1,455)		2,675
Net loss attributable to noncontrolling interest	(7)		(3)		(27)		(15)
Net income (loss) attributable to Gilead	$	360	$	(1,165)	$	(1,428)	$	2,690
Net income (loss) per share attributable to Gilead common stockholders - basic	$	0.29	$	(0.92)	$	(1.14)	$	2.12
Shares used in per share calculation - basic	1,255		1,267		1,257		1,271
Net income (loss) per share attributable to Gilead common stockholders - diluted	$	0.29	$	(0.92)	$	(1.14)	$	2.10
Shares used in per share calculation - diluted	1,261		1,267		1,257		1,278


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Net income (loss)	$	353	$	(1,168)	$	(1,455)	$	2,675
Other comprehensive income (loss):
Net foreign currency translation gain (loss), net of tax	23		(27)		(12)		(19)
Available-for-sale debt securities:
Unrealized gain (loss), net of tax	(9)		4		42		53
Reclassifications to net income (loss), net of tax	(4)		—		(17)		—
Net change	(13)		4		25		53
Cash flow hedges:
Unrealized gain (loss), net of tax	(46)		70		(25)		99
Reclassifications to net income (loss), net of tax	(11)		(32)		(50)		(96)
Net change	(57)		38		(75)		3
Other comprehensive income (loss)	(47)		15		(62)		37
Comprehensive income (loss)	306		(1,153)		(1,517)		2,712
Less: Comprehensive (loss) attributable to noncontrolling interest	(7)		(3)		(27)		(15)
Comprehensive income (loss) attributable to Gilead	$	313	$	(1,150)	$	(1,490)	$	2,727


	Three Months Ended September 30, 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 June 30, 2020	1,254	$	1	$	3,511	$	70	$	14,445	$	115	$	18,142
Change in noncontrolling interest (Note 6)	—	—		—		—		—		(82)		(82)
Net income (loss)	—	—		—		—		360		(7)		353
Other comprehensive income (loss), net of tax	—	—		1		(47)		(1)		—		(47)
Issuances under employee stock purchase plan	1	—		34		—		—		—		34
Issuances under equity incentive plans	2	—		2		—		—		—		2
Stock-based compensation	—	—		173		—		—		—		173
Repurchases of common stock	(4)	—		(9)		—		(229)		—		(238)
Dividends declared ($0.68 per share)	—	—		—		—		(866)		—		(866)
Balance at September 30, 2020	1,253	$	1	$	3,712	$	23	$	13,709	$	26	$	17,471


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


	Nine Months Ended September 30, 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
Cumulative effect from the adoption of new accounting standard (Note 1)	—	—		—		—		(7)		—		(7)
Change in noncontrolling interest (Note 6)	—	—		—		—		—		(72)		(72)
Net loss	—	—		—		—		(1,428)		(27)		(1,455)
Other comprehensive income (loss), net of tax	—	—		1		(62)		(1)		—		(62)
Issuances under employee stock purchase plan	2	—		100		—		—		—		100
Issuances under equity incentive plans	10	—		148		—		—		—		148
Stock-based compensation	—	—		482		—		—		—		482
Repurchases of common stock	(25)	—		(70)		—		(1,644)		—		(1,714)
Dividends declared ($2.04 per share)	—	—		—		—		(2,599)		—		(2,599)
Balance at September 30, 2020	1,253	$	1	$	3,712	$	23	$	13,709	$	26	$	17,471


	Three Months Ended September 30, 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 June 30, 2019	1,267	$	1	$	2,684	$	102	$	19,829	$	135	$	22,751
Net loss	—	—		—		—		(1,165)		(3)		(1,168)
Other comprehensive income, net of tax	—	—		—		15		—		—		15
Issuances under employee stock purchase plan	1	—		27		—		—		—		27
Issuances under equity incentive plans	2	—		10		—		—		—		10
Stock-based compensation	—	—		160		—		—		—		160
Repurchases of common stock	(4)	—		(11)		—		(241)		—		(252)
Dividends declared ($0.63 per share)	—	—		—		—		(807)		—		(807)
Balance at September 30, 2019	1,266	$	1	$	2,870	$	117	$	17,616	$	132	$	20,736


	Nine Months Ended September 30, 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
Cumulative effect from the adoption of accounting standard	—	—		—		—		8		—		8
Net income (loss)	—	—		—		—		2,690		(15)		2,675
Other comprehensive income, net of tax	—	—		—		37		—		—		37
Issuances under employee stock purchase plan	2	—		90		—		—		—		90
Issuances under equity incentive plans	8	—		92		—		—		—		92
Stock-based compensation	—	—		479		—		—		—		479
Repurchases of common stock	(26)	—		(73)		—		(1,675)		—		(1,748)
Dividends declared ($1.89 per share)	—	—		—		—		(2,431)		—		(2,431)
Balance at September 30, 2019	1,266	$	1	$	2,870	$	117	$	17,616	$	132	$	20,736


	Three Months Ended September 30, 2020								Three Months Ended September 30, 2019
	U.S.		Europe		Other Locations		Total		U.S.		Europe		Other Locations		Total
Product sales:
Atripla	$	99	$	5	$	9	$	113	$	132	$	10	$	7	$	149
Biktarvy	1,584		194		113		1,891		1,106		108		45		1,259
Complera/Eviplera	26		35		9		70		40		45		8		93
Descovy	424		49		35		508		256		63		44		363
Genvoya	669		116		61		846		761		152		65		978
Odefsey	309		116		12		437		317		111		8		436
Stribild	27		13		2		42		63		18		13		94
Truvada	492		6		11		509		688		14		19		721
Other HIV(1)	10		1		2		13		3		1		1		5
Revenue share – Symtuza(2)	82		34		2		118		68		36		—		104
AmBisome	18		58		35		111		9		57		33		99
Ledipasvir/Sofosbuvir(3)	36		11		37		84		54		14		56		124
Letairis	78		—		—		78		121		—		—		121
Ranexa	—		—		—		—		31		—		—		31
Sofosbuvir/Velpatasvir(4)	170		74		86		330		282		118		116		516
Veklury	785		60		28		873		—		—		—		—
Vemlidy	99		8		70		177		78		6		50		134
Viread	3		8		21		32		7		15		35		57
Vosevi	33		9		3		45		42		12		9		63
Yescarta	85		51		2		138		86		32		—		118
Zydelig	8		9		—		17		13		13		—		26
Other(5)	39		20		2		61		42		(21)		4		25
Total product sales	5,076		877		540		6,493		4,199		804		513		5,516
Royalty, contract and other revenues	24		60		—		84		20		67		1		88
Total revenues	$	5,100	$	937	$	540	$	6,577	$	4,219	$	871	$	514	$	5,604


________________________________
(1)			Includes Emtriva and Tybost.
(2)			Represents our revenue from cobicistat (C), emtricitabine (FTC) and tenofovir alafenamide (TAF) in Symtuza (darunavir/C/FTC/TAF), a fixed dose combination product commercialized by Janssen Sciences Ireland UC.
(3)			Amounts consist of sales of Harvoni and the authorized generic version of Harvoni sold by our separate subsidiary, Asegua Therapeutics LLC.
(4)			Amounts consist of sales of Epclusa and the authorized generic version of Epclusa sold by our separate subsidiary, Asegua Therapeutics LLC.
(5)			Includes Cayston, Hepsera, Sovaldi and Tecartus. Europe product sales included unfavorable adjustments recorded in 2019 for statutory rebates related to sales of Sovaldi made in prior years.


	September 30, 2020								December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale debt securities:
U.S. treasury securities	$	2,238	$	—	$	—	$	2,238	$	2,433	$	—	$	—	$	2,433
Certificates of deposit	—		2,136		—		2,136		—		3,517		—		3,517
U.S. government agencies securities	—		71		—		71		—		1,081		—		1,081
Non-U.S. government securities	—		220		—		220		—		174		—		174
Corporate debt securities	—		7,525		—		7,525		—		9,204		—		9,204
Residential mortgage and asset-backed securities	—		1,209		—		1,209		—		91		—		91
Equity securities:
Equity investment in Galapagos	2,361		—		—		2,361		3,477		—		—		3,477
Money market funds	11,430		—		—		11,430		7,069		—		—		7,069
Other publicly traded equity securities	619		—		—		619		322		—		—		322
Deferred compensation plan	200		—		—		200		171		—		—		171
Foreign currency derivative contracts	—		6		—		6		—		37		—		37
Total	$	16,848	$	11,167	$	—	$	28,015	$	13,472	$	14,104	$	—	$	27,576
Liabilities:
Deferred compensation plan	$	200	$	—	$	—	$	200	$	171	$	—	$	—	$	171
Foreign currency derivative contracts	—		50		—		50		—		8		—		8
Total	$	200	$	50	$	—	$	250	$	171	$	8	$	—	$	179


	September 30, 2020								December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. treasury securities	$	2,225	$	13	$	—	$	2,238	$	2,433	$	—	$	—	$	2,433
Certificates of deposit	2,136		—		—		2,136		3,517		—		—		3,517
U.S. government agencies securities	71		—		—		71		1,081		—		—		1,081
Non-U.S. government securities	220		—		—		220		174		—		—		174
Corporate debt securities	7,506		20		(1)		7,525		9,203		2		(1)		9,204
Residential mortgage and asset-backed securities	1,207		2		—		1,209		91		—		—		91
Total	$	13,365	$	35	$	(1)	$	13,399	$	16,499	$	2	$	(1)	$	16,500


	September 30, 2020
	Amortized Cost		Fair Value
Within one year	$	11,292	$	11,325
After one year through five years	1,991		1,992
After five years	82		82
Total	$	13,365	$	13,399


	September 30, 2020		December 31, 2019
Raw materials	$	1,061	$	1,348
Work in process	182		170
Finished goods	710		549
Total	$	1,953	$	2,067

Reported as:
Inventories	$	1,008	$	922
Other long-term assets (1)	945		1,145
Total	$	1,953	$	2,067


	September 30, 2020								December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Foreign Currency Translation Adjustment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Foreign Currency Translation Adjustment		Net Carrying Amount
Finite-lived assets:
Intangible asset - sofosbuvir	$	10,720	$	(4,777)	$	—	$	5,943	$	10,720	$	(4,253)	$	—	$	6,467
Intangible asset - axicabtagene ciloleucel	6,200		(1,019)		—		5,181		6,200		(761)		—		5,439
Other	1,203		(516)		(2)		685		1,098		(454)		(6)		638
Total finite-lived assets	18,123		(6,312)		(2)		11,809		18,018		(5,468)		(6)		12,544
Indefinite-lived assets - IPR&D	1,130		—		—		1,130		1,247		—		(5)		1,242
Total intangible assets	$	19,253	$	(6,312)	$	(2)	$	12,939	$	19,265	$	(5,468)	$	(11)	$	13,786


Fiscal Year	Amount
2020 (remaining three months)	$	284
2021	1,137
2022	1,137
2023	1,137
2024	1,137
Thereafter	6,977
Total	$	11,809


			Carrying Amount
Issue Date	Maturity Date	Interest Rate	September 30, 2020		December 31, 2019
November 2014	February 2020	2.35%	$	—	$	500
September 2015	September 2020	2.55%	—		1,999
March 2011	April 2021	4.50%	999		998
September 2020	September 2021	3-month LIBOR + 0.15%	499		—
December 2011	December 2021	4.40%	1,249		1,248
September 2016	March 2022	1.95%	499		499
September 2015	September 2022	3.25%	998		998
September 2016	September 2023	2.50%	747		747
September 2020	September 2023	3-month LIBOR + 0.52%	496		—
September 2020	September 2023	0.75%	1,992		—
March 2014	April 2024	3.70%	1,746		1,745
November 2014	February 2025	3.50%	1,746		1,746
September 2015	March 2026	3.65%	2,736		2,734
September 2016	March 2027	2.95%	1,246		1,245
September 2020	October 2027	1.20%	745		—
September 2020	October 2030	1.65%	992		—
September 2015	September 2035	4.60%	991		991
September 2016	September 2036	4.00%	741		741
September 2020	October 2040	2.60%	986		—
December 2011	December 2041	5.65%	996		995
March 2014	April 2044	4.80%	1,735		1,734
November 2014	February 2045	4.50%	1,732		1,731
September 2015	March 2046	4.75%	2,218		2,217
September 2016	March 2047	4.15%	1,726		1,725
September 2020	October 2050	2.80%	1,475		—
Total debt, net			29,290		24,593
Less: current portion			1,498		2,499
Total long-term debt, net			$	27,792	$	22,094


	Less Than 12 Months				12 Months or Greater				Total
	Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value
September 30, 2020
Corporate debt securities	$	(1)	$	1,042	$	—	$	—	$	(1)	$	1,042
December 31, 2019
Corporate debt securities	$	(1)	$	1,866	$	—	$	4	$	(1)	$	1,870


	September 30, 2020
	Asset Derivatives			Liability Derivatives
	Classification	Fair Value		Classification	Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts	Prepaid and other current assets	$	4	Other accrued liabilities	$	(45)
Foreign currency exchange contracts	Other long-term assets	2		Other long-term obligations	(5)
Total derivatives designated as hedges		6			(50)
Derivatives not designated as hedges:
Foreign currency exchange contracts	Prepaid and other current assets	—		Other accrued liabilities	—
Total derivatives not designated as hedges		—			—
Total derivatives		$	6		$	(50)



							Gross Amounts Not Offset on our Condensed Consolidated Balance Sheets
Description	Gross Amounts of Recognized Assets/Liabilities		Gross Amounts Offset on our Condensed Consolidated Balance Sheets		Amounts of Assets/Liabilities Presented on our Condensed Consolidated Balance Sheets		Derivative Financial Instruments		Cash Collateral Received/ Pledged		Net Amount (Legal Offset)
As of September 30, 2020
Derivative assets	$	6	$	—	$	6	$	(6)	$	—	$	—
Derivative liabilities	$	(50)	$	—	$	(50)	$	6	$	—	$	(44)
As of December 31, 2019
Derivative assets	$	37	$	—	$	37	$	(6)	$	—	$	31
Derivative liabilities	$	(8)	$	—	$	(8)	$	7	$	—	$	(1)


________________________________
(1)			Amounts primarily consist of raw materials.


	September 30, 2020		December 31, 2019
Compensation and employee benefits	$	648	$	599
Income taxes payable	943		287
Other accrued expenses	2,550		2,188
Total	$	4,141	$	3,074


	Foreign Currency Translation, Net of Tax		Unrealized Gains and Losses on Available-for-Sale Debt Securities, Net of Tax		Unrealized Gains and Losses on Cash Flow Hedges, Net of Tax		Total
Balance at December 31, 2019	$	53	$	1	$	31	$	85
Net unrealized gain (loss)	(12)		42		(25)		5
Reclassifications to net income	—		(17)		(50)		(67)
Net current period other comprehensive income (loss)	(12)		25		(75)		(62)
Balance at September 30, 2020	$	41	$	26	$	(44)	$	23


(In millions)	September 30, 2020		December 31, 2019
Cash, cash equivalents and marketable debt securities	$	26,049	$	25,840
Working capital	$	21,417	$	20,537


	Total Number of Shares Purchased (in thousands)		Average Price Paid per Share (in dollars)		Total Number of Shares Purchased as Part of Publicly Announced Program(1) (in thousands)		Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs(1) (in millions)
July 1 - July 31, 2020	790		$	75.48	757		$	6,960
August 1 - August 31, 2020	1,333		$	68.04	844		$	6,903
September 1 - September 30, 2020	1,389		$	64.30	1,359		$	6,816
Total	3,512	(2)	$	68.23	2,960	(2)


________________________________
(1)			In the first quarter of 2016, our Board of Directors authorized a $12.0 billion share repurchase program (“2016 Program”). Shares purchased during the period were made under the 2016 Program. In January 2020, our Board of Directors authorized a new $5.0 billion stock repurchase program (“2020 Program”), which will commence upon the completion of the 2016 Program. Share repurchases under both programs may be made in the open market or in privately negotiated transactions.
(2)			The difference between the total number of shares purchased and the total number of shares purchased as part of a publicly announced program is due to shares of common stock withheld by us from employee restricted stock awards in order to satisfy applicable tax withholding obligations.


Exhibit Footnote	Exhibit Number	Description of Document
(1)	3.1	Restated Certificate of Incorporation of Registrant

(1)	3.2	Amended and Restated Bylaws of Registrant

	4.1	Reference is made to Exhibit 3.1 and Exhibit 3.2

(2)	4.2	Indenture related to Senior Notes, dated as of March 30, 2011, between Registrant and Wells Fargo, National Association, as Trustee

(2)	4.3	First Supplemental Indenture related to Senior Notes, dated as of March 30, 2011, between Registrant and Wells Fargo, National Association, as Trustee (including form of Senior Notes)

(3)	4.4	Second Supplemental Indenture related to Senior Notes, dated as of December 13, 2011, between Registrant and Wells Fargo, National Association, as Trustee (including Form of 2021 Note, Form of 2041 Note)

(4)	4.5	Third Supplemental Indenture related to Senior Notes, dated as of March 7, 2014, between Registrant and Wells Fargo, National Association, as Trustee (including Form of 2024 Note, Form of 2044 Note)

(5)	4.6	Fourth Supplemental Indenture related to Senior Notes, dated as of November 17, 2014, between Registrant and Wells Fargo, National Association, as Trustee (including Form of 2020 Note, Form of 2025 Note, Form of 2045 Note)

(6)	4.7	Fifth Supplemental Indenture, dated as of September 14, 2015, between Registrant and Wells Fargo Bank, National Association, as Trustee (including Form of 2020 Note, Form of 2022 Note, Form of 2026 Note, Form of 2035 Note and Form of 2046 Note)

(7)	4.8	Sixth Supplemental Indenture, dated as of September 20, 2016, between Registrant and Wells Fargo Bank, National Association, as Trustee (including Form of 2022 Note, Form of 2023 Note, Form of 2027 Note, Form of 2036 Note and Form of 2047 Note)

(8)	4.9	Eighth Supplemental Indenture, dated as of September 30, 2020, between the Company and Wells Fargo Bank, National Association, as Trustee (including form of notes)

(9)	4.10	Description of Registrant’s Securities

(10)	10.1*	Gilead Sciences, Inc. 2004 Equity Incentive Plan, amended and restated May 10, 2017

(11)	10.2*	Form of employee stock option agreement under 2004 Equity Incentive Plan (for grants made in 2011 through 2018)

(12)	10.3*	Form of employee stock option agreement under 2004 Equity Incentive Plan (for grants made in 2019)

(13)	10.4*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2019)

(14)	10.5*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants commencing in 2020)

(15)	10.6*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2009 through 2012)

(16)	10.7*	Form of non-employee director stock option agreement (U.S.) under 2004 Equity Incentive Plan (for grants made in 2013)

(16)	10.8*	Form of non-employee director stock option agreement (non-U.S.) under 2004 Equity Incentive Plan (for grants made in 2013)

(17)	10.9*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2014 through 2018)

(12)	10.10*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2019)

(18)	10.11*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants commencing in 2020)

(19)	10.12*	Form of performance share award agreement - TSR Goals (U.S.) with Director Retirement Provisions under 2004 Equity Incentive Plan (for grants made in 2016 through 2018)

(12)	10.13*	Form of performance share award agreement - TSR Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2019)

(14)	10.14*	Form of performance share award agreement - TSR Goals (U.S.) under 2004 Equity Incentive Plan (for grants commencing in 2020)

(19)	10.15*	Form of performance share award agreement - Revenue Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2016 through 2018)

(19)	10.16*	Form of performance share award agreement - Revenue Goals (U.S.) with Director Retirement Provisions under 2004 Equity Incentive Plan (for grants made in 2016 through 2018)

(12)	10.17*	Form of performance share award agreement - Revenue Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2019)

(14)	10.18*	Form of performance share award agreement - Revenue Goals (U.S.) under 2004 Equity Incentive Plan (for grants commencing in 2020)

(11)	10.19*	Form of employee restricted stock unit issuance agreement under 2004 Equity Incentive Plan (for grants made in 2011 through 2018)

(12)	10.20*	Form of employee restricted stock unit issuance agreement under 2004 Equity Incentive Plan (for grants made in 2019)

(13)	10.21*	Form of global employee restricted stock unit issuance agreement under 2004 Equity Incentive Plan (3 year vest) (for grants made in 2019)

(13)	10.22*	Form of global employee restricted stock unit issuance agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2019)

(12)	10.23*	Form of non-employee director restricted stock unit issuance agreement under 2004 Equity Incentive Plan (for grants made in 2019)


		GILEAD SCIENCES, INC.
		(Registrant)

Date:	November 3, 2020	/s/ DANIEL P. O’DAY
		Daniel P. O’Day Chairman and Chief Executive Officer (Principal Executive Officer)

Date:	November 3, 2020	/s/ ANDREW D. DICKINSON
		Andrew D. Dickinson Executive Vice President and Chief Financial Officer (Principal Financial Officer)