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REVENUES (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Summary of Disaggregation of Revenues

The following table summarizes our Total revenues:

						Three Months Ended June 30, 2023																								Three Months Ended June 30, 2022
(in millions)						U.S.						Europe						Other International						Total						U.S.						Europe						Other International						Total
Product sales:
HIV
Biktarvy						$	2,439					$	302					$	237					$	2,979					$	2,095					$	268					$	193					$	2,556
Complera/Eviplera						13						16						3						32						20						31						3						54
Descovy						460						25						31						516						397						32						32						460
Genvoya						455						56						29						540						482						72						29						582
Odefsey						267						74						11						351						255						97						12						364
Stribild						19						5						2						26						24						8						2						33
Truvada						32						3						7						42						24						5						5						34
Revenue share - Symtuza(1)						84						33						3						120						80						42						4						126
Other HIV(2)						10						7						3						20						5						9						4						18
Total HIV						3,778						521						326						4,626						3,383						562						282						4,228
Oncology
Cell Therapy
Tecartus						56						29						4						88						53						20						—						73
Yescarta						217						133						30						380						193						85						17						295
Total Cell Therapy						272						162						34						469						246						105						17						368
Trodelvy						189						53						17						260						120						35						3						159
Total Oncology						462						215						51						728						366						141						21						527
Liver Disease
Chronic hepatitis C virus (“HCV”)
Ledipasvir/Sofosbuvir(3)						8						2						5						15						6						4						13						23
Sofosbuvir/Velpatasvir(4)						223						84						90						397						227						75						74						376
Other HCV(5)						28						9						3						40						30						16						3						49
Total HCV						259						95						98						452						263						94						91						448
Chronic hepatitis B virus (“HBV”) / hepatitis delta virus (“HDV”)
Vemlidy						96						10						113						219						97						9						89						195
Viread						1						6						14						21						3						6						15						24
Other HBV/HDV(6)						—						20						—						20						—						15						—						16
Total HBV/HDV						97						35						127						259						100						30						104						234
Total Liver Disease						356						131						225						711						363						124						195						682
Veklury						97						52						107						256						41						126						278						445
Other
AmBisome						20						69						61						151						15						63						54						132
Letairis						39						—						—						39						49						—						—						49
Other(7)						26						10						17						53						37						26						13						76
Total Other						85						80						78						243						101						88						67						256
Total product sales						4,777						999						788						6,564						4,254						1,042						842						6,138
Royalty, contract and other revenues						6						28						1						35						85						34						2						122
Total revenues						$	4,784					$	1,027					$	789					$	6,599					$	4,339					$	1,076					$	844					$	6,260

						Six Months Ended June 30, 2023																								Six Months Ended June 30, 2022
(in millions)						U.S.						Europe						Other International						Total						U.S.						Europe						Other International						Total
Product sales:
HIV
Biktarvy						$	4,600					$	606					$	449					$	5,656					$	3,801					$	529					$	376					$	4,707
Complera/Eviplera						27						37						6						70						37						55						7						99
Descovy						855						50						60						965						708						64						63						834
Genvoya						872						111						58						1,041						939						149						76						1,164
Odefsey						497						149						22						668						487						193						23						703
Stribild						39						11						4						55						46						16						5						66
Truvada						55						7						12						74						52						9						11						72
Revenue share - Symtuza(1)						182						70						7						259						166						86						6						258
Other HIV(2)						15						8						6						29						10						13						9						33
Total HIV						7,142						1,049						624						8,816						6,245						1,112						577						7,935
Oncology
Cell Therapy
Tecartus						114						56						6						177						100						35						1						136
Yescarta						427						254						58						739						318						162						26						506
Total Cell Therapy						542						310						65						916						418						197						27						642
Trodelvy						351						107						23						482						240						61						5						305
Total Oncology						893						417						88						1,398						658						258						32						947
Liver Disease
HCV
Ledipasvir/Sofosbuvir(3)						12						9						10						30						19						8						31						58
Sofosbuvir/Velpatasvir(4)						427						174						181						782						389						157						159						706
Other HCV(5)						51						27						6						85						54						24						5						83
Total HCV						491						209						197						897						462						189						196						847
HBV/HDV
Vemlidy						183						19						216						418						177						18						199						394
Viread						1						12						28						40						3						12						32						47
Other HBV/HDV(6)						—						31						—						31						—						28						—						28
Total HBV/HDV						183						62						244						489						180						57						232						470
Total Liver Disease						674						271						441						1,386						642						247						427						1,317
Veklury						349						163						317						829						843						430						708						1,980
Other
AmBisome						27						129						111						267						40						129						107						275
Letairis						70						—						—						70						92						—						—						92
Other(7)						56						22						26						105						63						41						22						125
Total Other						153						152						137						442						195						169						129						493
Total product sales						9,211						2,052						1,607						12,870						8,582						2,216						1,873						12,672
Royalty, contract and other revenues						25						54						3						81						112						61						5						178
Total revenues						$	9,236					$	2,106					$	1,610					$	12,951					$	8,694					$	2,277					$	1,878					$	12,850

_______________________________

(1)    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 (“Janssen”).

(2)    Includes Atripla, Emtriva, Sunlenca and Tybost.

(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, Jyseleca, Ranexa and Zydelig.

Summary of 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												Six Months Ended
						June 30,												June 30,
(as a percentage of total revenues)						2023						2022						2023						2022
AmerisourceBergen Corporation						19		%				17		%				18		%				18		%
Cardinal Health, Inc.						27		%				26		%				27		%				24		%
McKesson Corporation						20		%				20		%				20		%				20		%

Summary of Revenues Recognized from Performance Obligations Satisfied in Prior Periods

The following table summarizes revenues recognized from performance obligations satisfied in prior periods:

						Three Months Ended												Six Months Ended
						June 30,												June 30,
(in millions)						2023						2022						2023						2022
Revenue share with Janssen and royalties for licenses of intellectual property						$	158					$	197					$	350					$	381
Changes in estimates						$	77					$	16					$	237					$	246

Summary of Contract Balances

The following table summarizes our contract balances:

(in millions)						June 30, 2023						December 31, 2022
Contract assets(1)						$	130					$	171
Contract liabilities(2)						$	103					$	102

________________________________

(1)    Consists of unbilled amounts primarily from arrangements where the licensing of intellectual property is the only or predominant performance obligation.

(2)    Generally results from receipt of advance payment before our performance under the contract.

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Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
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-Section 50
-Paragraph 10
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

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