2.2.0.25falsefalse11801 - Disclosure - Deferred Compensation Planstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010
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<table style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="4%" align="left"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>18.</b></font></td>
<td valign="top" align="left"><font style="font-family: Times New Roman;" class="_mt" size="2"><b>DEFERRED COMPENSATION PLANS </b></font></td></tr></table>
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<p style="margin-top: 6px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2"><font class="_mt"><font style="font-family: Times New Roman;" class="_mt" size="2">We maintain a retirement savings plan under which eligible employees may defer compensation for income tax purposes under Section 401(k) of the Internal Revenue Code (Gilead Plan). Under the Gilead Plan, employees may contribute up to 60% of their eligible annual compensation, subject to IRS plan limits. We make matching contributions under the Gilead Plan. In 2010, 2009 and 2008, we contributed up to 50% of an employee's contributions up to an annual maximum match of $5,000. </font></font>Our total matching contribution expense under the Gilead Plan for the years ended December 31, 2010, 2009 and 2008 was $<font class="_mt">11.2</font> million, $<font class="_mt">10.2</font> million, and $<font class="_mt">7.8</font> million, respectively. </font></p></div>
<p style="margin-top: 12px; text-indent: 4%; margin-bottom: 0px;"><font style="font-family: Times New Roman;" class="_mt" size="2">We maintain a deferred compensation plan under which our directors and key employees may defer compensation for income tax purposes. The deferred compensation plan is a non-qualified deferred compensation plan which is not subject to the qualification requirements under Section 401(a) of the Internal Revenue Code. Compensation deferred after December 31, 2004 is subject to the requirements of Section 409A of the Internal Revenue Code. Under the plan, officers and other senior grade level employees may contribute up to 70% of their annual salaries and up to 100% of their annual bonus while directors may contribute up to 100% of their annual retainer fee. Amounts deferred by participants are deposited in a rabbi trust and are recorded in other noncurrent assets in our Consolidated Balance Sheets. Beginning in 2004, directors may also elect to receive all or a portion of their annual cash retainer in phantom shares, which gives the participant the right to receive an amount equal to the value of a specified number of shares over a specified period of time and which will be payable in shares of our common stock (with fractional shares paid out in cash) as established by the plan administrator. As of December 31, 2010, we had <font class="_mt">31,682</font> phantom shares outstanding. Participants can elect one of several distribution dates available under the plan at which they will receive their deferred compensation payment. </font></p></div> </div>18.
DEFERRED COMPENSATION PLANS
We maintain a retirement savings plan under which eligible employees may defer compensation for income tax purposes underfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclosure reflecting pension and other postretirement benefit arrangements with individual employees, which are generally based on employment contracts between the entity and one or more selected officers or key employees, and which contain a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period and the carrying amount as of the balance sheet date of the related liability.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 6, 7
falsefalse12Deferred Compensation PlansUnKnownUnKnownUnKnownUnKnownfalsetrue
