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Stockholders' Equity
9 Months Ended
Sep. 30, 2011
Stockholders' Equity [Abstract] 
Stockholders' Equity

12. STOCKHOLDERS' EQUITY

Stock Repurchase Programs

During the three and nine months ended September 30, 2011, we retired a total of $883.6 million or 22.4 million shares of common stock and $2.16 billion or 54.2 million shares of common stock, respectively. We completed our May 2010, three-year, $5.00 billion stock repurchase program, which retired 135.5 million shares at an average purchase price of $36.89 per share. Upon completion of this repurchase program, we initiated purchases under our January 2011, three-year, $5.00 billion stock repurchase program. As of September 30, 2011, the remaining authorized amount of stock repurchases that may be made under our repurchase program was $4.82 billion.

We use the par value method of accounting for our stock repurchases. Under the par value method, common stock is first charged with the par value of the shares involved. The excess of the cost of shares acquired over the par value is allocated to additional paid-in capital (APIC) based on an estimated average sales price per issued share with the excess amounts charged to retained earnings. As a result of our stock repurchases during the nine months ended September 30, 2011, we reduced common stock and APIC by an aggregate of $168.2 million and charged $2.00 billion to retained earnings.

Comprehensive Income

The components of comprehensive income were as follows (in thousands):

 

     Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
     2011     2010     2011     2010  

Net income

    $ 737,538      $ 702,163      $ 2,127,300      $ 2,263,384   

Other comprehensive income (loss):

         

Net foreign currency translation gain (loss)

      (3,958 )      8,025        (1,122 )      (3,729 ) 

Net unrealized gain (loss) on available-for-sale securities, net of related tax effects

      (27,442 )      8,813        (31,284 )      13,441   

Net unrealized gain (loss) on cash flow hedges, net of related tax effects

      149,138        (198,977 )      (14,048 )      3,531   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total other comprehensive income (loss)

      117,738        (182,139 )      (46,454 )      13,243   
  

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income

      855,276        520,024        2,080,846        2,276,627   

Comprehensive loss attributable to noncontrolling interest

      3,586        2,713        11,192        8,454   
  

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive income attributable to Gilead

    $ 858,862      $ 522,737      $ 2,092,038      $ 2,285,081