Amgen 2009 Annual Report Download - page 151

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AMGEN INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
recognized amortization charges associated with our intangible assets of $425 million, $425 million and $416 mil-
lion, respectively. The total estimated amortization for each of the next five years for our intangible assets is
$418 million, $366 million, $338 million, $338 million and $321 million in 2010, 2011, 2012, 2013 and 2014,
respectively.
15. Accrued liabilities
Accrued liabilities consisted of the following (in millions):
December 31,
2009 2008
Sales deductions .............................................................. $ 970 $ 876
Employee compensation and benefits .............................................. 751 799
Clinical development costs ...................................................... 361 429
Sales returns reserve ........................................................... 211 233
Other ....................................................................... 1,006 1,045
$3,299 $3,382
16. Financing arrangements
The following table reflects the carrying value of our long-term borrowings under our various financing ar-
rangements (dollar amounts in millions):
December 31,
2009 2008
0.125% convertible notes due 2011 (2011 Convertible Notes) ......................... $ 2,342 $2,206
0.375% convertible notes due 2013 (2013 Convertible Notes) ......................... 2,088 1,970
5.85% notes due 2017 (2017 Notes) .............................................. 1,099 1,099
4.00% notes due 2009 (2009 Notes) .............................................. — 1,000
4.85% notes due 2014 (2014 Notes) .............................................. 1,000 1,000
5.70% notes due 2019 (2019 Notes) .............................................. 998 —
6.40% notes due 2039 (2039 Notes) .............................................. 995 —
6.375% notes due 2037 (2037 Notes) ............................................. 899 899
6.15% notes due 2018 (2018 Notes) .............................................. 499 499
6.90% notes due 2038 (2038 Notes) .............................................. 499 498
Zero-coupon modified convertible notes due in 2032 (2032 Modified Convertible Notes) . . . 82 81
8.125% notes due 2097 (Other) .................................................. 100 100
Total borrowings ........................................................... 10,601 9,352
Less current portion ........................................................... — 1,000
Total non-current debt ....................................................... $10,601 $8,352
2011 and 2013 Convertible Notes
In February 2006, we issued $2.5 billion principal amount of convertible notes due in February 2011 (the
“2011 Convertible Notes”) and $2.5 billion principal amount of convertible notes due in February 2013 (the
“2013 Convertible Notes”). The 2011 Convertible Notes and the 2013 Convertible Notes were issued at par and
pay interest at a rate of 0.125% and 0.375%, respectively. The 2011 Convertible Notes and 2013 Convertible
Notes may be converted into shares of our common stock based on an initial conversion rate of 12.5247 shares
and 12.5814 shares, respectively, per $1,000 principal amount of notes (which represents an initial conversion
F-31