Amgen 2007 Annual Report Download - page 153

Download and view the complete annual report

Please find page 153 of the 2007 Amgen annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 180

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180

AMGEN INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Contractual maturities of long-term debt obligations
The aggregate contractual maturities of all long-term debt obligations due subsequent to December 31, 2007
are as follows (in millions):
Maturity date Amount
2008 ............................................................. $ 2,000
2009 ............................................................. 1,000
2010 ............................................................. —
2011 ............................................................. 2,500
2012(1) ............................................................ 84
Thereafter ......................................................... 5,600
Total ........................................................... $11,184
(1) This amount represents the 2032 Modified Convertible Notes’ accreted value on March 1, 2012, the next
date on which holders may put the debt to us for repayment.
7. Stockholders’ equity
Stock repurchase program
A summary activity under our stock repurchase program for the years ended December 31, 2007, 2006 and
2005 is as follows (in millions):
2007 2006 2005
Shares Dollars Shares Dollars Shares Dollars
First quarter ....................... 8.8 $ 537 46.6 $3,374 26.8 $1,675
Second quarter ..................... 73.9(1) 4,463 13.0 876 12.1 750
Third quarter ....................... 2.5
(1) — 7.3 505 9.5 769
Fourth quarter ...................... 1.8 100 3.3 245 14.8 1,236
Total ........................... 87.0 $5,100 70.2 $5,000 63.2 $4,430
(1) The total number of shares repurchased during the three months ended June 30, 2007 excludes 2.5 million
shares received in July 2007 in connection with the final settlement of a block trade entered into in May
2007, which is discussed in Note 6, “Financing Arrangements” above.
As of December 31, 2007, $6.4 billion was available for stock repurchases under the $5.0 billion repurchase
authorization received from the Board of Directors in July 2007 and amounts remaining from the Board of Direc-
tor’s previous authorization in December 2006. The manner of purchases, the amount we spend, and the number
of shares repurchased will vary based on a variety of factors including the stock price and blackout periods in
which we are restricted from repurchasing shares, and may include private block purchases as well as market
transactions.
F-27