Amgen 2012 Annual Report Download - page 117
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F-18
grant date fair value of $62.06 vested and 0.4 million performance units with a weighted-average grant date fair value of $62.60
were forfeited.
The total fair values of performance units that vested during 2012, 2011 and 2010 were $100 million, $25 million and $34
million, respectively, based upon the number of performance units earned multiplied by the closing stock price of our common
stock on the last day of the performance period.
As of December 31, 2012, there was approximately $179 million of unrecognized compensation cost related to the 2012
and 2011 performance unit grants that is expected to be recognized over a weighted-average period of approximately 1.0 years.
4. Income taxes
The provision for income taxes includes the following for the years ended December 31, 2012, 2011 and 2010 (in millions):
2012 2011 2010
Current provision:
Federal $ 438 $ 551 $ 620
State 47 54 52
Foreign 158 148 153
Total current provision 643 753 825
Deferred provision (benefit):
Federal 83 (273)(180)
State (43)(12) 43
Foreign (19)(1) 2
Total deferred provision (benefit) 21 (286)(135)
Total provision $ 664 $ 467 $ 690
Deferred income taxes reflect the tax effect of temporary differences between the carrying amounts of assets and liabilities
for financial reporting purposes and the amounts used for income tax purposes, tax credit carryforwards and the tax effects of net
operating loss (NOL) carryforwards.
In 2012, we reclassified the prepaid taxes associated with intercompany profit in ending inventory from current deferred
income tax assets to current prepaid tax. This change resulted in a reclassification of approximately $71 million and $16 million
for 2011 and 2010, respectively, from the deferred provision to the current provision.