GILD · 8-K · 20260804PR000028
Income Tax Rate Changes
GILEAD SCIENCES, INC. · 2026-08-04 · Importance 40 · Surprise 56
The GAAP effective tax rate declined to negative 2.4% in the second quarter of 2026 from 19.3% in the prior-year quarter. The non-GAAP effective tax rate declined to negative 11.4% from 18.8%. The change primarily reflected non-deductible acquired IPR&D expenses associated with the Arcellx, Tubulis and Ouro acquisitions. GAAP income tax expense was $242 million versus $468 million, while non-GAAP income tax expense increased to $860 million from $583 million because of non-GAAP adjustments.