Amgen 2009 Annual Report Download - page 132
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AMGEN INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The following tables illustrate the impact of adopting this accounting standard on our Consolidated State-
ments of Income (in millions, except per share information):
Year ended December 31, 2009
Excluding
the effect
of the
accounting
standard
Effect of
the
accounting
standard
Including
the effect
of the
accounting
standard
Operating income ................................................ $5,506 $ — $5,506
Interest expense, net .............................................. 328 250 578
Interest and other income, net ...................................... 276 — 276
Income before income taxes ........................................ 5,454 (250) 5,204
Provision for income taxes ......................................... 694 (95) 599
Net income ..................................................... $4,760 $ (155) $4,605
Earnings per share:
Basic ........................................................ $ 4.69 $(0.16) $ 4.53
Diluted ...................................................... $ 4.66 $(0.15) $ 4.51
Year ended December 31, 2008
As
originally
reported
Effect of
the
accounting
standard “Revised”
Operating income ................................................ $5,214 $ — $5,214
Interest expense, net .............................................. 316 235 551
Interest and other income, net ...................................... 352 — 352
Income before income taxes ........................................ 5,250 (235) 5,015
Provision for income taxes ......................................... 1,054 (91) 963
Net income ..................................................... $4,196 $ (144) $4,052
Earnings per share:
Basic ........................................................ $ 3.92 $(0.13) $ 3.79
Diluted ...................................................... $ 3.90 $(0.13) $ 3.77
Year ended December 31, 2007
As
originally
reported
Effect of
the
accounting
standard “Revised”
Operating income ................................................ $3,980 $ — $3,980
Interest expense, net .............................................. 328 168 496
Interest and other income, net ...................................... 309 — 309
Income before income taxes ........................................ 3,961 (168) 3,793
Provision for income taxes ......................................... 795 (80) 715
Net income ..................................................... $3,166 $ (88) $3,078
Earnings per share:
Basic ........................................................ $ 2.83 $(0.07) $ 2.76
Diluted ...................................................... $ 2.82 $(0.08) $ 2.74
F-12