Amgen 2012 Annual Report Download - page 127
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F-28
We review our available-for-sale investments for other-than-temporary declines in fair value below our cost basis each quarter
and whenever events or changes in circumstances indicate that the cost basis of an asset may not be recoverable. This evaluation
is based on a number of factors including, the length of time and the extent to which the fair value has been below our cost basis
and adverse conditions related specifically to the security, including any changes to the credit rating of the security. As of
December 31, 2012 and 2011, we believe the cost bases for our available-for-sale investments were recoverable in all material
respects.
10. Inventories
Inventories consisted of the following as of December 31, 2012 and 2011 (in millions):
2012 2011
Raw materials $ 192 $ 158
Work in process 1,723 1,802
Finished goods 829 524
Total inventories $ 2,744 $ 2,484
11. Property, plant and equipment
Property, plant and equipment consisted of the following as of December 31, 2012 and 2011 (dollar amounts in millions):
Useful life (in years) 2012 2011
Land — $ 412 $ 366
Buildings and improvements 10-40 3,510 3,463
Manufacturing equipment 8-12 2,007 1,897
Laboratory equipment 8-12 1,056 1,016
Other 3-15 3,891 3,745
Construction in progress — 1,071 744
Property, plant and equipment, gross 11,947 11,231
Less accumulated depreciation and amortization (6,621)(5,811)
Property, plant and equipment, net $ 5,326 $ 5,420
During the years ended December 31, 2012, 2011 and 2010, we recognized depreciation and amortization charges associated
with our property, plant and equipment of $689 million, $679 million and $594 million, respectively.
12. Goodwill and other intangible assets
Goodwill
The changes in the carrying amounts of goodwill for the years ended December 31, 2012 and 2011, were as follows (in
millions):
2012 2011
Beginning balance $ 11,750 $ 11,334
Goodwill resulting from acquisitions of businesses 928 435
Currency translation (16)(19)
Ending balance $ 12,662 $ 11,750