2012 Q2 Form 10-Q Financial Statement

#000088209512000013 Filed on August 01, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q4 2011 Q2
Revenue $2.405B $2.200B $2.137B
YoY Change 12.54% 10.09% 10.9%
Cost Of Revenue $617.3M $584.4M $533.9M
YoY Change 15.64% 17.75% 17.2%
Gross Profit $1.704B $1.549B $1.506B
YoY Change 13.16% 8.02% 11.49%
Gross Profit Margin 70.84% 70.39% 70.45%
Selling, General & Admin $332.5M $316.5M $304.3M
YoY Change 9.28% 17.44% 23.14%
% of Gross Profit 19.51% 20.43% 20.21%
Research & Development $396.2M $368.2M $282.4M
YoY Change 40.31% 45.36% 23.37%
% of Gross Profit 23.26% 23.77% 18.76%
Depreciation & Amortization $68.00M $73.00M $75.00M
YoY Change -9.33% -5.19% 27.12%
% of Gross Profit 3.99% 4.71% 4.98%
Operating Expenses $728.7M $684.8M $586.7M
YoY Change 24.22% 30.99% 23.22%
Operating Profit $1.059B $864.1M $1.017B
YoY Change 4.17% -5.16% 16.27%
Interest Expense $88.42M -$75.00M $46.11M
YoY Change 91.77% 84.73% -359.03%
% of Operating Profit 8.35% -8.68% 4.53%
Other Income/Expense, Net -$1.075M $26.40M $11.98M
YoY Change -108.97% 144.44% -34.55%
Pretax Income $969.6M $818.8M $982.6M
YoY Change -1.32% 2.41% -1.06%
Income Tax $263.5M $157.1M $240.1M
% Of Pretax Income 27.18% 19.19% 24.44%
Net Earnings $711.6M $665.1M $746.2M
YoY Change -4.65% 5.68% 4.8%
Net Earnings / Revenue 29.58% 30.23% 34.92%
Basic Earnings Per Share $0.47 $0.44 $0.48
Diluted Earnings Per Share $0.46 $0.43 $0.47
COMMON SHARES
Basic Shares Outstanding 1.514B shares 784.8M shares
Diluted Shares Outstanding 1.561B shares 800.8M shares

Balance Sheet

Concept 2012 Q2 2011 Q4 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.708B $9.900B $2.270B
YoY Change -24.76% 371.65% 13.44%
Cash & Equivalents $1.626B $9.884B $905.8M
Short-Term Investments $82.00M $16.00M $1.365B
Other Short-Term Assets $226.9M $126.8M $689.0M
YoY Change -67.07% -83.82% -20.62%
Inventory $1.603B $1.390B $1.322B
Prepaid Expenses $83.73M $95.92M
Receivables $1.703B $1.951B $1.939B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.844B $13.92B $6.219B
YoY Change -6.03% 143.85% 8.93%
LONG-TERM ASSETS
Property, Plant & Equipment $811.8M $774.4M $722.0M
YoY Change 12.44% 10.47% 3.88%
Goodwill $1.079B $1.004B
YoY Change
Intangibles $11.75B $1.063B
YoY Change
Long-Term Investments $564.0M $64.00M $3.229B
YoY Change -82.53% -98.01% 45.65%
Other Assets $171.3M $160.7M $396.0M
YoY Change -56.75% -70.13% 3.94%
Total Long-Term Assets $14.66B $3.384B $6.475B
YoY Change 126.38% -42.49% 35.23%
TOTAL ASSETS
Total Short-Term Assets $5.844B $13.92B $6.219B
Total Long-Term Assets $14.66B $3.384B $6.475B
Total Assets $20.50B $17.30B $12.69B
YoY Change 61.51% 49.26% 20.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.367B $1.206B $1.102B
YoY Change 24.08% 50.19% 3.38%
Accrued Expenses $624.3M $471.1M $1.132B
YoY Change -44.85% -48.28% 46.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.973B $0.00 $7.000M
YoY Change 28082.33% -100.0% -99.38%
Total Short-Term Liabilities $4.987B $2.515B $2.311B
YoY Change 115.78% 2.02% -25.6%
LONG-TERM LIABILITIES
Long-Term Debt $7.126B $7.606B $3.871B
YoY Change 84.1% 167.9% 587.57%
Other Long-Term Liabilities $155.2M $147.7M $301.0M
YoY Change -48.44% -11.54% 135.16%
Total Long-Term Liabilities $7.282B $7.753B $4.172B
YoY Change 74.53% 157.93% 503.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.987B $2.515B $2.311B
Total Long-Term Liabilities $7.282B $7.753B $4.172B
Total Liabilities $12.27B $10.27B $6.647B
YoY Change 84.57% 79.23% 68.96%
SHAREHOLDERS EQUITY
Retained Earnings $2.663B $1.777B
YoY Change
Common Stock $756.0K $753.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.002B $6.739B $6.047B
YoY Change
Total Liabilities & Shareholders Equity $20.50B $17.30B $12.69B
YoY Change 61.51% 49.26% 20.93%

Cashflow Statement

Concept 2012 Q2 2011 Q4 2011 Q2
OPERATING ACTIVITIES
Net Income $711.6M $665.1M $746.2M
YoY Change -4.65% 5.68% 4.8%
Depreciation, Depletion And Amortization $68.00M $73.00M $75.00M
YoY Change -9.33% -5.19% 27.12%
Cash From Operating Activities $1.291B $978.0M $943.0M
YoY Change 36.9% 34.9% 34.91%
INVESTING ACTIVITIES
Capital Expenditures -$38.00M -$26.00M -$27.00M
YoY Change 40.74% 13.04% 68.75%
Acquisitions
YoY Change
Other Investing Activities -$597.0M $4.467B -$443.0M
YoY Change 34.76% -1260.26% -146.68%
Cash From Investing Activities -$635.0M $4.440B -$470.0M
YoY Change 35.11% -1188.24% -150.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -475.0M 3.527B -1.372B
YoY Change -65.38% -866.74% 17.67%
NET CHANGE
Cash From Operating Activities 1.291B 978.0M 943.0M
Cash From Investing Activities -635.0M 4.440B -470.0M
Cash From Financing Activities -475.0M 3.527B -1.372B
Net Change In Cash 181.0M 8.945B -899.0M
YoY Change -120.13% -6355.24% -292.92%
FREE CASH FLOW
Cash From Operating Activities $1.291B $978.0M $943.0M
Capital Expenditures -$38.00M -$26.00M -$27.00M
Free Cash Flow $1.329B $1.004B $970.0M
YoY Change 37.01% 34.22% 35.66%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentrations of Risk</font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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 these financial instruments. 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. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are also subject to credit risk from our accounts receivable related to our product sales. The majority of our trade accounts receivable arises from product sales in the United States and Europe. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2012</font><font style="font-family:inherit;font-size:10pt;">, our accounts receivable in Southern Europe, specifically Greece, Italy, Portugal and Spain, totaled approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$791.8 million</font><font style="font-family:inherit;font-size:10pt;">, of which </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$291.4 million</font><font style="font-family:inherit;font-size:10pt;"> were greater than 120 days past due and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$114.6 million</font><font style="font-family:inherit;font-size:10pt;"> were greater than 365 days past due. To date, we have not experienced significant losses with respect to the collection of our accounts receivable. We believe that our allowance for doubtful accounts was adequate at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2012</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2012, we received payment on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$460.6 million</font><font style="font-family:inherit;font-size:10pt;"> in past due accounts receivable from customers based in Spain. Included in this amount were proceeds from a one-time factoring arrangement where we sold receivables with a carrying value of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$319.8 million</font><font style="font-family:inherit;font-size:10pt;">, net of the allowance for doubtful accounts. We received proceeds of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$349.7 million</font><font style="font-family:inherit;font-size:10pt;"> and recorded a gain of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$29.9 million</font><font style="font-family:inherit;font-size:10pt;">, resulting primarily from the reversal of the related allowance for doubtful accounts. This gain was recorded as an offset to selling, general and administrative (SG&amp;A) expenses in our Condensed Consolidated Statement of Income. As of June 30, 2012, we had no continuing involvement with the transferred receivables, which were derecognized at the time of the sale.</font></div></div>
CY2011Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
533863000 USD
CY2012Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
617345000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
1198276000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
1007974000 USD
CY2011Q2 us-gaap Costs And Expenses
CostsAndExpenses
1120535000 USD
us-gaap Costs And Expenses
CostsAndExpenses
2828357000 USD
CY2012Q2 us-gaap Costs And Expenses
CostsAndExpenses
1346094000 USD
us-gaap Costs And Expenses
CostsAndExpenses
2144660000 USD
CY2012Q2 us-gaap Debt Current
DebtCurrent
1972816000 USD
CY2011Q4 us-gaap Debt Current
DebtCurrent
1572000 USD
CY2012Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
93660000 USD
CY2011Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
74665000 USD
CY2012Q2 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
23662000 USD
CY2011Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
31870000 USD
CY2012Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
213448000 USD
CY2011Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
208155000 USD
CY2012Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
116263000 USD
CY2011Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
144015000 USD
CY2012Q2 us-gaap Deposit Assets
DepositAssets
5000000 USD
us-gaap Depreciation
Depreciation
36030000 USD
us-gaap Depreciation
Depreciation
39937000 USD
CY2011Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
100475000 USD
CY2012Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
134464000 USD
CY2011Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
5710000 USD
CY2012Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
4090000 USD
CY2011Q2 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
20945000 USD
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-26286000 USD
CY2012Q2 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-15059000 USD
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
11016000 USD
CY2012Q2 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
3544000 USD
us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
6756000 USD
CY2011Q2 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
4061000 USD
us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
3066000 USD
us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-63125000 USD
CY2011Q2 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
46608000 USD
us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
174107000 USD
CY2012Q2 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-112011000 USD
CY2012Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
93592000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-120190000 USD
CY2011Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-34344000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
66418000 USD
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.77
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.94
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.73
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.91
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.48
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-108874000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-4528000 USD
CY2012Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.272
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.302
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2011Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
173316000 USD
CY2012Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
144834000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
26231000 USD
CY2011Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
12210000 USD
CY2012Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
13167000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
25066000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
35439000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
20298000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
20298000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
35439000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
2871000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-40013000 USD
CY2011Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
1625000 USD
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
40100000 USD
CY2011Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
-7854000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
-5694000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
34249000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
-22057000 USD
CY2011Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
-6450000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases Sales Issuances Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
-27280000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
53883000 USD
CY2011Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
1000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2011Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
71693000 USD
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
48168000 USD
CY2011Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
116823000 USD
CY2010Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
80365000 USD
CY2011Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
104145000 USD
CY2012Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
43872000 USD
CY2012Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
140897000 USD
CY2011Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
135591000 USD
CY2012Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
138328000 USD
CY2011Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
11100000 USD
CY2010Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
11100000 USD
CY2011Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
126690000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
64283000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
31673000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
132786000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
100048000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
73261000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
66735000 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
764991000 USD
CY2011Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
796664000 USD
CY2012Q2 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
ForeignCurrencyContractAssetFairValueDisclosure
134464000 USD
CY2011Q4 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
ForeignCurrencyContractAssetFairValueDisclosure
100475000 USD
CY2012Q2 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
4090000 USD
CY2011Q4 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
5710000 USD
CY2012Q2 us-gaap Goodwill
Goodwill
1078919000 USD
CY2011Q4 us-gaap Goodwill
Goodwill
1004102000 USD
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
982589000 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
969599000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1857174000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1638430000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
494825000 USD
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
240130000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
467412000 USD
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
263525000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
230614000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
295648000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-180167000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
221966000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-102093000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
51585000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
98541000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
276944000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-21966000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-40008000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
10794000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-45070000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
114644000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
213190000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
32329000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-10884000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14817000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14882000 shares
CY2011Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14461000 shares
CY2012Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14386000 shares
CY2011Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
266200000 USD
CY2012Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
10986200000 USD
CY2011Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1062864000 USD
CY2012Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
11751191000 USD
us-gaap Interest Expense
InterestExpense
87323000 USD
CY2012Q2 us-gaap Interest Expense
InterestExpense
88418000 USD
CY2011Q2 us-gaap Interest Expense
InterestExpense
46107000 USD
us-gaap Interest Expense
InterestExpense
185688000 USD
CY2011Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
225863000 USD
CY2012Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
408150000 USD
CY2012Q2 us-gaap Inventory Net
InventoryNet
1603401000 USD
CY2011Q4 us-gaap Inventory Net
InventoryNet
1389983000 USD
CY2011Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
697621000 USD
CY2012Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
903036000 USD
CY2011Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
466499000 USD
CY2012Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
292215000 USD
CY2012Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
20501950000 USD
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
17303134000 USD
CY2012Q2 us-gaap Liabilities Current
LiabilitiesCurrent
4986674000 USD
CY2011Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2514790000 USD
CY2012Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
144987000 USD
CY2011Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
141301000 USD
CY2011Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 USD
CY2012Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
1972763000 USD
CY2011Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7605734000 USD
CY2012Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7126377000 USD
CY2012Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
82044000 USD
CY2011Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
16491000 USD
CY2011Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
63704000 USD
CY2012Q2 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
564130000 USD
CY2012Q2 us-gaap Minority Interest
MinorityInterest
81267000 USD
CY2011Q4 us-gaap Minority Interest
MinorityInterest
128493000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1380711000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-886852000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11378080000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-770171000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1743620000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1763797000 USD
us-gaap Net Income Loss
NetIncomeLoss
1143605000 USD
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Productive Assets
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us-gaap Profit Loss
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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gild Additions To Contingent Consideration Liability Due To Acquisitions
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gild Additions To Contingent Consideration Liability Due To Acquisitions
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90786000 USD
gild Other Comprehensive Income Loss Period Increase Decrease
OtherComprehensiveIncomeLossPeriodIncreaseDecrease
-164190000 USD
gild Other Comprehensive Income Loss Period Increase Decrease
OtherComprehensiveIncomeLossPeriodIncreaseDecrease
66177000 USD
CY2011Q4 gild Other Costs Associated With Acquisition
OtherCostsAssociatedWithAcquisition
52278000 USD
gild Other Costs Associated With Acquisition
OtherCostsAssociatedWithAcquisition
29011000 USD
CY2012Q2 gild Other Costs Associated With Acquisition
OtherCostsAssociatedWithAcquisition
1100000 USD
gild Other Costs Associated With Acquisition
OtherCostsAssociatedWithAcquisition
17500000 USD
CY2011Q4 gild Other Costs Associated With Acquisition Pro Forma
OtherCostsAssociatedWithAcquisitionProForma
52300000 USD
CY2012Q1 gild Outstanding Common Stock Acquired
OutstandingCommonStockAcquired
0.88
CY2012Q1 gild Payments To Stock Based Award Holders Treated As Consideration
PaymentsToStockBasedAwardHoldersTreatedAsConsideration
474300000 USD
CY2012Q1 gild Per Share Acquisition Price
PerShareAcquisitionPrice
137
CY2011Q4 gild Portion Of Inventory Related To Efavirenz
PortionOfInventoryRelatedToEfavirenz
995700000 USD
CY2012Q2 gild Portion Of Inventory Related To Efavirenz
PortionOfInventoryRelatedToEfavirenz
1180000000 USD
CY2012Q1 gild Present Value Discount Rate
PresentValueDiscountRate
0.12
CY2012Q2 gild Remaining Balance Due
RemainingBalanceDue
175000000 USD
gild Stock Based Compensation Expense For Accelerated Awards
StockBasedCompensationExpenseForAcceleratedAwards
193937000 USD
CY2012Q2 gild Total Debt Including Long Term And Short Term Portions
TotalDebtIncludingLongTermAndShortTermPortions
9099140000 USD
CY2011Q4 gild Total Debt Including Long Term And Short Term Portions
TotalDebtIncludingLongTermAndShortTermPortions
7605734000 USD
CY2012Q2 gild Total Southern European Accounts Receivable
TotalSouthernEuropeanAccountsReceivable
791800000 USD
CY2012Q2 gild Total Southern European Accounts Receivable Greater Than120 Days
TotalSouthernEuropeanAccountsReceivableGreaterThan120Days
291400000 USD
CY2012Q2 gild Total Southern European Accounts Receivable Greater Than365 Days
TotalSouthernEuropeanAccountsReceivableGreaterThan365Days
114600000 USD
gild Transaction Costs
TransactionCosts
10166000 USD
CY2012Q2 gild Weighted Average Expected Life Of Underlying Student Loans Maximum
WeightedAverageExpectedLifeOfUnderlyingStudentLoansMaximum
6
CY2012Q2 gild Weighted Average Expected Life Of Underlying Student Loans Minimum
WeightedAverageExpectedLifeOfUnderlyingStudentLoansMinimum
2
dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000882095
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
756568507 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
GILEAD SCIENCES INC

Files In Submission

Name View Source Status
0000882095-12-000013-index-headers.html Edgar Link pending
0000882095-12-000013-index.html Edgar Link pending
0000882095-12-000013.txt Edgar Link pending
0000882095-12-000013-xbrl.zip Edgar Link pending
exhibit1046.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
gild-20120630.xml Edgar Link completed
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gild-20120630_cal.xml Edgar Link unprocessable
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