Amgen 2007 Annual Report Download - page 133

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AMGEN INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
December 31, 2006
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Estimated
fair value
Type of security:
U.S. Treasury securities and obligations of U.S. government
agencies ............................................. $2,451 $ 3 $(11) $2,443
Corporate debt securities .................................. 2,547 5 (10) 2,542
Other short-term interest bearing securities .................... 1,075 — — 1,075
Total debt securities .................................... 6,073 8 (21) 6,060
Equity securities ......................................... 99 2 (2) 99
$6,172 $10 $(23) $6,159
December 31,
Contractual maturity: 2007 2006
Maturing in one year or less ................................... $2,269 $1,962
Maturing after one year through three years ....................... 2,611 2,376
Maturing after three years ..................................... 1,833 1,722
Total debt securities ....................................... 6,713 6,060
Equity securities ............................................ 79 99
$6,792 $6,159
December 31,
Classification in Consolidated Balance Sheets: 2007 2006
Cash and cash equivalents ..................................... $2,024 $1,283
Marketable securities ........................................ 5,127 4,994
Other assets — noncurrent .................................... 30 56
7,181 6,333
Less cash .................................................. (389) (174)
$6,792 $6,159
The primary objectives for our investment portfolio are liquidity and safety of principal. Investments are
made with the objective of achieving the highest rate of return consistent with these two objectives. Our invest-
ment policy limits investments to certain types of instruments issued by institutions primarily with investment
grade credit ratings and places restrictions on maturities and concentration by type and issuer.
We review periodically our available-for-sale securities for other than temporary declines in fair value be-
low the cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset
may not be recoverable. As of December 31, 2007 and 2006, the Company believes that the cost basis for our
available-for-sale securities was recoverable in all material respects.
F-7