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

The primary purpose of this 8-K filing is to publicly announce and provide investors with Amgen Inc.'s unaudited financial results for the first quarter ended March 31, 2009, by attaching a press release that contains these results.

Why does Amgen present non-GAAP financial measures?

Amgen presents non-GAAP financial measures because management believes they provide useful supplementary information to investors. These measures exclude items such as stock option expenses, restructuring charges, and amortization of acquired intangible assets, which are considered one-time or non-operational, thereby facilitating a more consistent comparison of the company's ongoing operational performance across different periods.

What types of adjustments are made to derive Amgen's non-GAAP results?

Adjustments typically include the impact of expensing stock options (SFAS No. 123R), charges related to restructuring plans, amortization of intangible assets acquired in past acquisitions (like Avidia, Abgenix, Immunex, Alantos), the non-cash interest expense from adopting FSP APB 14-1 on convertible debt, and certain tax effects and adjustments, such as state tax law changes.

Where can I find the detailed differences between GAAP and non-GAAP figures?

The detailed reconciliations between Amgen's GAAP and non-GAAP financial measures are included within the press release dated April 23, 2009, which is attached as Exhibit 99.1 to this 8-K filing.

AMGN 8-K: Earnings & Results

Summary

Amgen Inc. filed an 8-K on April 23, 2009, to announce its unaudited financial results for the first quarter ended March 31, 2009. The filing primarily serves to attach a press release detailing these results. A key aspect of this report is Amgen's use of non-GAAP financial measures, which exclude various one-time or non-cash items such as stock option expensing (SFAS No. 123R), restructuring charges, acquisition-related intangible asset amortization, and effects of new accounting standards like FSP APB 14-1 related to convertible debt. These non-GAAP adjustments are presented to provide investors with supplementary information that management believes facilitates a clearer comparison of the company's ongoing operational performance across different periods, by isolating the impact of these specific, often significant, adjustments. Investors should pay close attention to the reconciliations provided within the press release (Exhibit 99.1) to understand the specific differences between GAAP and non-GAAP figures and assess their impact on reported earnings and operational trends.

Key Highlights

1Amgen announced its unaudited first quarter 2009 financial results via an 8-K filing dated April 23, 2009.
2The company provided both GAAP and non-GAAP financial results for the three months ended March 31, 2009, and March 31, 2008.
3Non-GAAP measures exclude significant items like stock option expensing (SFAS No. 123R), restructuring costs, and amortization of acquired intangible assets.
4Adjustments also include the impact of adopting FASB Staff Position No. APB 14-1 on convertible debt and state tax law changes.
5Amgen uses these non-GAAP measures to offer a supplemental view of financial performance, believing it aids investor analysis by removing the effects of specific charges and accounting treatments.
6The filing attaches the full press release (Exhibit 99.1) containing detailed reconciliations of GAAP to non-GAAP financial measures.
7Robert A. Bradway, Executive Vice President and Chief Financial Officer, signed the filing.

AMGEN INC 8-K Report, Financial Results (Apr 23, 2009)

Summary

Key Highlights

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