Amgen 2012 Annual Report Download - page 128
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F-29
Identifiable intangible assets
Identifiable intangible assets consisted of the following as of December 31, 2012 and 2011 (in millions):
2012 2011
Gross
carrying
amount Accumulated
amortization Intangible
assets, net
Gross
carrying
amount Accumulated
amortization Intangible
assets, net
Finite-lived intangible assets:
Acquired product technology rights:
Developed product technology $ 2,872 $ (2,003) $ 869 $ 2,872 $ (1,811) $ 1,061
Core technology 1,348 (940) 408 1,348 (850) 498
Trade name 190 (133) 57 190 (120) 70
Acquired R&D technology rights 1,094 (381) 713 350 (350) —
Other acquired intangible assets 896 (477) 419 686 (406) 280
Total finite-lived intangible
assets 6,400 (3,934) 2,466 5,446 (3,537) 1,909
Indefinite-lived intangible assets:
IPR&D 1,346 — 1,346 675 — 675
Contract assets 156 — 156 — — —
Total indefinite-lived intangible
assets 1,502 — 1,502 675 — 675
Total identifiable intangible assets $ 7,902 $ (3,934) $ 3,968 $ 6,121 $ (3,537) $ 2,584
Amortization of finite-lived intangible assets is provided over their estimated useful lives ranging from 3 to 15 years on a
straight-line basis.
Acquired product technology rights relate to the identifiable intangible assets acquired in connection with the 2002 Immunex
Corporation acquisition, and the related amortization expense is included in Amortization of certain acquired intangible assets in
the Consolidated Statements of Income. Acquired R&D technology rights, Other acquired intangible assets, IPR&D and Contract
assets as of December 31, 2012 and 2011, included the identifiable intangible assets acquired in connection with the acquisitions
of businesses that occurred during the years ended December 31, 2012 and 2011. (See Note 2, Business combinations.) Acquired
R&D technology rights consist of technology used in R&D with alternative future uses and the related amortization expense is
included in Research and development expense in the Consolidated Statements of Income. The amortization expense related to
other acquired intangible assets is included principally in Cost of sales (excludes amortization of certain acquired intangible assets)
and Selling, general and administrative expense in the Consolidated Statements of Income. During the years ended December 31,
2012, 2011 and 2010, we recognized amortization charges associated with our finite-lived intangible assets of $397 million, $380
million and $423 million, respectively. The total estimated amortization for each of the next five years for our intangible assets is
$464 million, $446 million, $434 million, $413 million and $271 million in 2013, 2014, 2015, 2016 and 2017, respectively.