Amgen 2007 Annual Report Download - page 128
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AMGEN INC.
CONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2007, 2006 and 2005
(In millions, except per share data)
2007 2006 2005
Revenues:
Product sales ..................................................... $14,311 $13,858 $12,022
Other revenues ................................................... 460 410 408
Total revenues ................................................. 14,771 14,268 12,430
Operating expenses:
Cost of sales (excludes amortization of acquired intangible assets presented
below) ........................................................ 2,548 2,095 2,082
Research and development .......................................... 3,266 3,366 2,314
Selling, general and administrative ................................... 3,361 3,366 2,790
Amortization of acquired intangible assets ............................. 298 370 347
Write-off of acquired in-process research and development ................ 590 1,231 —
Other items (primarily certain restructuring costs in 2007) ................. 728 — 49
Total operating expenses ......................................... 10,791 10,428 7,582
Operating income ................................................... 3,980 3,840 4,848
Other income (expense):
Interest and other income, net ....................................... 309 309 119
Interest expense, net ............................................... (328) (129) (99)
Total other income (expense) ...................................... (19) 180 20
Income before income taxes ........................................... 3,961 4,020 4,868
Provision for income taxes ............................................ 795 1,070 1,194
Net income ........................................................ $ 3,166 $ 2,950 $ 3,674
Earnings per share:
Basic ......................................................... $ 2.83 $ 2.51 $ 2.97
Diluted ....................................................... $ 2.82 $ 2.48 $ 2.93
Shares used in calculation of earnings per share:
Basic ......................................................... 1,117 1,176 1,236
Diluted ....................................................... 1,123 1,190 1,258
See accompanying notes.
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