Amgen 2013 Annual Report Download - page 109
Download and view the complete annual report
Please find page 109 of the 2013 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.-
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
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
 |
 |
In March 2011, we filed a shelf registration statement with the SEC to replace an existing shelf registration statement that was scheduled to expire in
April 2011. This shelf registration statement allows us to issue unspecified amounts of debt securities; common stock; preferred stock; warrants to purchase
debt securities, common stock, preferred stock or depository shares; rights to purchase common stock or preferred stock; securities purchase contracts;
securities purchase units; and depository shares. Under this shelf registration statement, all of the securities available for issuance may be offered from time to
time with terms to be determined at the time of issuance. This shelf registration statement expires in March 2014 and is expected to be renewed before its
expiration date.
In 1997, we established a $400 million medium-term note program under which medium-term debt securities may be offered from time to time with
terms to be determined at the time of issuance. As of December 31, 2013 and 2012, no securities were outstanding under this medium-term note program.
Certain of our financing arrangements contain non-financial covenants. In addition, our revolving credit agreement and Term Loan Credit Agreement
each include a financial covenant with respect to the level of our borrowings in relation to our equity, as defined. We were in compliance with all applicable
covenants under these arrangements as of December 31, 2013.
Contractual maturities of long-term debt obligations
The aggregate contractual maturities of all long-term debt obligations due subsequent to December 31, 2013, are as follows (in millions):
2014 $2,505
2015 500
2016 2,250
2017 2,850
2018 7,228
Thereafter 16,873
Total $ 32,206
Interest costs
Interest costs are expensed as incurred, except to the extent such interest is related to construction in progress, in which case interest is capitalized.
Interest expense, net, for the years ended December 31, 2013, 2012 and 2011, was $1.0 billion, $1.1 billion and $610 million, respectively. Interest costs
capitalized for the years ended December 31, 2013, 2012 and 2011, were $18 million, $26 million and $22 million, respectively. Interest paid, net of interest
rate swaps, during the years ended December 31, 2013, 2012 and 2011, totaled $930 million, $406 million and $446 million, respectively. Interest paid in
2012 is net of the $397 million received upon settlement of the interest rate swaps. See Note 17, Derivative instruments.
F-33