8-KEarnings & ResultsExhibits & Filings

AMGEN INC 8-K Report, Financial Results (Feb 2, 2017)

Filed February 2, 2017For Securities:AMGN

Summary

Amgen Inc. (AMGN) filed an 8-K on February 2, 2017, to report its unaudited financial results for the fourth quarter and full year ended December 31, 2016. The report primarily furnished a press release detailing these results, which included both GAAP and non-GAAP financial measures. Investors should note that the company provided a comprehensive breakdown of its non-GAAP adjustments, which primarily consisted of acquisition-related expenses (such as amortization of purchased intangibles), restructuring initiative costs, and unusual legal settlement expenses. Amgen's management utilizes these non-GAAP figures to offer a clearer view of ongoing operational performance and facilitate period-over-period comparisons. The company also highlighted its calculation of Free Cash Flow (FCF), defined as operating cash flow less capital expenditures, as a measure of liquidity. While the 8-K itself doesn't contain the specific financial figures, it directs investors to the furnished press release (Exhibit 99.1) for detailed financial statements and analysis, including reconciliations between GAAP and non-GAAP measures. This filing serves as a standard mechanism for Amgen to communicate its latest financial performance and condition to the market.

Key Highlights

  • 1Amgen announced its unaudited financial results for the period ending December 31, 2016, via an 8-K filing.
  • 2The company provided both GAAP and non-GAAP financial measures in its reported results.
  • 3Key non-GAAP adjustments include amortization of acquired intangibles, restructuring costs, and certain legal settlement expenses.
  • 4Amgen uses non-GAAP measures to provide a clearer view of ongoing operational performance and facilitate comparisons.
  • 5Free Cash Flow (FCF) was presented as a key liquidity metric, calculated as operating cash flow minus capital expenditures.
  • 6Detailed financial information and reconciliations are available in the furnished press release (Exhibit 99.1).
  • 7The filing is furnished to the SEC, not deemed 'filed' for certain liabilities, and not incorporated by reference into other filings unless explicitly stated.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce and provide details on Amgen's unaudited financial results for the three months and full year ended December 31, 2016, including its financial position as of that date. It furnishes a press release containing this information to the SEC.

Amgen's non-GAAP financial measures exclude acquisition-related expenses (mainly amortization of purchased intangibles), costs related to restructuring initiatives, and unusual expenses from judgments or settlements in legal proceedings. The company believes these adjustments provide a more meaningful view of its ongoing operational performance.

The specific financial results, including detailed reconciliations between GAAP and non-GAAP financial measures, are provided in the press release dated February 2, 2017, which is furnished as Exhibit 99.1 to this 8-K filing.

Amgen defines Free Cash Flow (FCF) as operating cash flow less capital expenditures, each determined in accordance with GAAP. The company presents FCF as an additional measure of its liquidity.