What is the primary purpose of this 8-K filing?

This 8-K filing announces Amgen's unaudited financial results for the fourth quarter and full year ended December 31, 2005. Its main focus is on presenting these results using both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures, with detailed explanations for the adjustments made.

Why does Amgen provide non-GAAP financial measures?

Amgen uses non-GAAP financial measures to provide supplemental information to investors. The company believes these measures offer a more meaningful comparison of its ongoing operational performance across different periods by excluding certain expenses and gains that are not indicative of its core business, such as acquisition-related costs, settlement expenses, and certain other one-time or non-recurring items.

What are some of the key items adjusted for in the non-GAAP results for 2005?

For the twelve months ended December 31, 2005, key adjustments to GAAP results include costs associated with the Tularik and Immunex acquisitions, a patent litigation settlement with Genentech, a tax liability from repatriating foreign earnings, write-offs of manufacturing assets, the net gain from terminating a manufacturing agreement with Genentech, and expenses related to convertible notes. For the three-month period, adjustments also include Tularik employee compensation expenses and amortization of acquired intangible assets.

Where can investors find the detailed financial results and reconciliations?

The detailed financial results and the reconciliations between GAAP and non-GAAP measures are provided in a press release dated January 26, 2006, which is attached as Exhibit 99.1 to this 8-K filing. Additional reconciliations for the earnings web cast are provided as Exhibit 99.2.

AMGN 8-K: Earnings & Results

Summary

Amgen Inc. (AMGN) filed an 8-K on February 1, 2006, reporting its unaudited financial results for the fourth quarter and full year ended December 31, 2005. The report primarily details the company's use of non-GAAP financial measures, which exclude various one-time or non-recurring items to provide a clearer view of ongoing operational performance. Key adjustments for 2005 include impacts from the acquisitions of Tularik Inc. and Immunex Corporation, a patent litigation settlement with Genentech, a tax liability from repatriated foreign earnings, manufacturing asset write-offs, and the termination of a manufacturing agreement with Genentech. Investors are encouraged to review these non-GAAP figures alongside GAAP results, as Amgen states they offer useful supplementary information for comparing performance across periods. The company emphasizes that these measures are not a substitute for, but rather an addition to, GAAP financial reporting. The filing also provides historical context on non-GAAP adjustments made in prior years (2004-2000) related to acquisitions, settlements, and other significant events, aiming to facilitate period-over-period comparisons.

Key Highlights

1Amgen reported its unaudited results for the three and twelve months ended December 31, 2005.
2The company utilizes non-GAAP financial measures, excluding specific items to present a view of ongoing operational performance.
3Significant adjustments for 2005 include impacts from Tularik and Immunex acquisitions, Genentech settlement and termination, and tax-related items.
4Non-GAAP figures are presented alongside GAAP results and include reconciliations for investor clarity.
5Historical non-GAAP adjustments for 2004, 2003, 2002, 2001, and 2000 are also provided for comparative analysis.
6The filing references a press release dated January 26, 2006, containing the detailed financial results and reconciliations.

AMGEN INC 8-K Report, Financial Results (Feb 1, 2006)

Summary

Key Highlights

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