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

The main purpose of this 8-K filing is to report Amgen Inc.'s unaudited financial results for the first quarter ended March 31, 2010, and to provide detailed explanations and reconciliations of the non-GAAP financial measures used by the company. These measures are presented as supplementary information to assist investors in analyzing the company's performance.

What types of expenses does Amgen exclude in its non-GAAP reporting for Q1 2010?

Amgen excludes several types of expenses in its non-GAAP reporting for Q1 2010, including the impact of expensing stock options, amortization of acquired intangible assets from past acquisitions (Avidia, Abgenix, Immunex), non-cash interest expense related to convertible notes, restructuring charges, and specific legal accruals. Tax effects related to these adjustments are also often excluded.

Why does Amgen use non-GAAP financial measures?

Amgen uses non-GAAP financial measures because it believes they provide useful supplementary information that facilitates additional analysis and allows for better comparison between reporting periods. Specifically, they help to present profitability in a way that treats acquired intellectual property similarly to internally developed intellectual property and to exclude the impact of one-time or non-recurring events and certain accounting treatments.

Where can I find the actual financial results (e.g., revenue, net income)?

The actual financial results, along with detailed reconciliations between GAAP and non-GAAP measures, are provided in the press release dated April 21, 2010, which is attached as Exhibit 99.1 to this Form 8-K filing.

AMGN 8-K: Earnings & Results

Summary

Amgen Inc. filed an 8-K on April 21, 2010, to report its unaudited financial results for the first quarter ended March 31, 2010. The primary focus of this filing is the company's use and reconciliation of non-GAAP financial measures to provide investors with supplementary information. These non-GAAP measures aim to offer a clearer view of the company's operational performance by excluding the impact of certain accounting treatments and events that are not reflective of ongoing business operations. Key adjustments in the non-GAAP reporting include the exclusion of stock option expenses, amortization of acquired intangible assets from significant acquisitions (Avidia, Abgenix, Immunex), non-cash interest expense related to convertible notes, restructuring charges, and specific legal accruals. Amgen believes these adjustments provide a more comparable view of its financial performance across periods, particularly by treating acquired intellectual property similarly to internally developed assets and by smoothing the impact of one-time or non-recurring items. Investors should review the accompanying press release for detailed reconciliations and a comprehensive understanding of these non-GAAP metrics.

Key Highlights

1Amgen Inc. reported its unaudited financial results for the first quarter ended March 31, 2010, via an 8-K filing.
2The company extensively utilizes and explains non-GAAP financial measures, providing supplementary information to investors.
3Key non-GAAP adjustments include excluding stock option expenses, amortization of acquired intangibles (from Avidia, Abgenix, Immunex acquisitions), and non-cash interest expense on convertible notes.
4The filing also details adjustments for restructuring charges, legal accruals, and related tax effects.
5Amgen aims to present a more comparable view of its financial performance by excluding the impact of these specific accounting and event-driven items.
6The company believes these non-GAAP measures facilitate additional analysis and comparison between reporting periods.
7A press release (Exhibit 99.1) containing the full details of the results and reconciliations of non-GAAP to GAAP measures is attached.

AMGEN INC 8-K Report, Financial Results (Apr 21, 2010)

Summary

Key Highlights

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