REVENUES

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenues

Revenues were as follows:


	Three Months Ended March 31, 2021								Three Months Ended March 31, 2020
(in millions)	U.S.		Europe		Other International		Total		U.S.		Europe		Other International		Total
Product Sales:
HIV
Atripla	$	23	$	4	$	4	$	31	$	81	$	7	$	7	$	95
Biktarvy	1,465		216		143		1,824		1,412		181		100		1,693
Complera/Eviplera	25		34		4		63		24		47		5		76
Descovy	282		42		35		359		363		61		34		458
Genvoya	506		106		61		673		612		151		61		824
Odefsey	240		113		14		367		269		127		13		409
Stribild	31		11		4		46		34		17		2		53
Truvada	119		7		9		135		383		8		15		406
Other HIV(1)	6		1		10		17		3		2		3		8
Revenue share - Symtuza (2)	89		44		2		135		72		38		2		112
Total HIV	2,786		578		286		3,650		3,253		639		242		4,134
Hepatitis C virus (“HCV”)
Ledipasvir/Sofosbuvir(3)	19		16		21		56		53		11		48		112
Sofosbuvir/Velpatasvir (4)	214		75		92		381		311		122		131		564
Other HCV(5)	25		44		4		73		34		15		4		53
Total HCV	258		135		117		510		398		148		183		729
Hepatitis B virus (“HBV”) / Hepatitis Delta virus (“HDV”)
Vemlidy	77		8		96		181		73		7		56		136
Viread	4		7		20		31		4		11		25		40
Other HBV/HDV(6)	—		8		—		8		8		2		—		10
Total HBV/HDV	81		23		116		220		85		20		81		186

Veklury	820		388		248		1,456		—		—		—		—

Cell Therapy
Tecartus	27		4		—		31		—		—		—		—
Yescarta	92		61		7		160		103		37		—		140
Total Cell Therapy	119		65		7		191		103		37		—		140

Trodelvy	72		—		—		72		—		—		—		—
Other
AmBisome	12		66		43		121		18		59		42		119
Letairis	54		—		—		54		83		—		—		83
Ranexa	3		—		—		3		8		—		—		8
Zydelig	8		7		—		15		8		12		—		20
Other(7)	27		13		8		48		33		12		3		48
Total Other	104		86		51		241		150		83		45		278
Total product sales	4,240		1,275		825		6,340		3,989		927		551		5,467
Royalty, contract and other revenues	20		61		2		83		17		48		16		81
Total revenues	$	4,260	$	1,336	$	827	$	6,423	$	4,006	$	975	$	567	$	5,548

_______________________________

(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 Unlimited Company.

(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 Vosevi and Sovaldi.

(6) Includes Hepcludex and Hepsera.

(7) Includes Cayston and Jyseleca.

Revenues from Major Customers

The following table summarizes revenues from each of our customers who individually accounted for 10% or more of our total revenues:


	Three Months Ended
	March 31,
(as a percentage of total revenues)	2021		2020
AmerisourceBergen Corporation	27	%	22	%
Cardinal Health, Inc.	18	%	22	%
McKesson Corporation	17	%	21	%

Revenues Recognized from Performance Obligations Satisfied in Prior Periods

Revenues recognized from performance obligations satisfied in prior years related to royalties for licenses of our intellectual property were $226 million and $188 million for the three months ended March 31, 2021 and 2020, respectively.

Variable consideration is included in the net sales price only to the extent a significant reversal in the amount of cumulative revenue recognized is not probable of occurring when the uncertainty associated with the variable consideration is subsequently resolved. Estimates are assessed each period and updated to reflect current information. Changes in estimates for variable consideration related to sales made in prior years resulted in a $332 million and $38 million increase in revenues for the three months ended March 31, 2021 and 2020, respectively.

Contract Balances

Our contract assets, which consist of unbilled amounts primarily from arrangements where the licensing of intellectual property is the only or predominant performance obligation, totaled $185 million and $198 million as of March 31, 2021 and December 31, 2020, respectively. Contract liabilities, which generally result from receipt of advance payment before our performance under the contract, were $91 million and $97 million as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021 and 2020, revenue recognized that was included in the contract liability balance as of the beginning of the respective years was not material. Revenue expected to be recognized in the future from contract liabilities as the related performance obligations are satisfied is not expected to be material in any one year.