Summary
Amgen Inc. (AMGN) filed an 8-K on January 28, 2016, to report its unaudited financial results for the fourth quarter and full year ended December 31, 2015, along with its financial position as of that date. The report primarily directs investors to a press release (Exhibit 99.1) for detailed financial information, including both GAAP and non-GAAP measures. Of particular note for investors is the company's inclusion and explanation of non-GAAP financial measures such as adjusted earnings per share, free cash flow, and adjusted operating income. Amgen's management provides a rationale for using these non-GAAP figures, asserting they offer valuable insights into the company's financial condition and operational performance, and are used internally for decision-making. Investors should review the accompanying press release for the specific financial figures and the reconciliation between GAAP and non-GAAP metrics.
Key Highlights
- 1Amgen announced its unaudited financial results for the three months and year ended December 31, 2015.
- 2The company provided its unaudited financial position as of December 31, 2015.
- 3The 8-K filing incorporates by reference a press release dated January 28, 2016, containing the detailed financial results.
- 4Amgen included and explained several non-GAAP financial measures in its press release.
- 5Key non-GAAP measures disclosed include adjusted earnings per share and free cash flow.
- 6Management provided reasons why these non-GAAP measures are considered useful for investors and for internal decision-making.
- 7The press release contains reconciliations between the non-GAAP measures and the most directly comparable GAAP financial measures.