Amgen 2009 Annual Report Download - page 122
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AMGEN INC.
CONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2009, 2008 and 2007
(In millions, except per share data)
2009 2008 2007
Revenues:
Product sales ..................................................... $14,351 $14,687 $14,311
Other revenues ................................................... 291 316 460
Total revenues ................................................. 14,642 15,003 14,771
Operating expenses:
Cost of sales (excludes amortization of certain acquired intangible assets
presented below) ............................................... 2,091 2,296 2,548
Research and development .......................................... 2,864 3,030 3,266
Selling, general and administrative ................................... 3,820 3,789 3,361
Amortization of certain acquired intangible assets ....................... 294 294 298
Write-off of acquired in-process research and development ................ — — 590
Other charges .................................................... 67 380 728
Total operating expenses ......................................... 9,136 9,789 10,791
Operating income ................................................... 5,506 5,214 3,980
Interest expense, net ................................................. 578 551 496
Interest and other income, net ......................................... 276 352 309
Income before income taxes ........................................... 5,204 5,015 3,793
Provision for income taxes ............................................ 599 963 715
Net income ........................................................ $ 4,605 $ 4,052 $ 3,078
Earnings per share:
Basic ......................................................... $ 4.53 $ 3.79 $ 2.76
Diluted ....................................................... $ 4.51 $ 3.77 $ 2.74
Shares used in calculation of earnings per share:
Basic ......................................................... 1,016 1,070 1,117
Diluted ....................................................... 1,021 1,075 1,123
See accompanying notes, including Note 1 for discussion of required retrospective adoption of a new accounting
standard effective January 1, 2009, applicable to our convertible debt.
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