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Microsoft Excel LibreOffice Calc

Amgen Inc. (AMGN)


Analysis of Debt

Difficulty: Advanced


Total Debt (Carrying Amount)

Amgen Inc., Statement of Financial Position, Debt

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Current portion of long-term debt hidden hidden hidden hidden hidden
Long-term debt, excluding current portion hidden hidden hidden hidden hidden
Total borrowings (carrying amount) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-19).

Item Description The company
Total borrowings (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Amgen Inc.’s total debt increased from 2016 to 2017 but then declined significantly from 2017 to 2018.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2018
Selected Financial Data (USD $ in millions)
Total borrowings (fair value) hidden
Ratio
Debt, fair value to carrying amount hidden

Based on: 10-K (filing date: 2019-02-13).


Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on debt: hidden

Interest Rate Debt Amount1 Interest Rate × Debt Amount Weighted-average Interest Rate2
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Total hidden hidden hidden

Based on: 10-K (filing date: 2019-02-13).

1 USD $ in millions

2 Weighted-average interest rate = 100 × hidden ÷ hidden = hidden


Interest Costs Incurred

Amgen Inc.

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Interest expenses, net hidden hidden hidden hidden hidden
Interest costs capitalized hidden hidden hidden hidden hidden
Interest costs hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-19).

Item Description The company
Interest expenses, net Amount of the cost of borrowed funds accounted for as interest expense for debt. Amgen Inc.’s interest expenses, net increased from 2016 to 2017 and from 2017 to 2018.
Interest costs capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred.
Interest costs Total interest costs incurred during the period and either capitalized or charged against earnings. Amgen Inc.’s interest costs increased from 2016 to 2017 and from 2017 to 2018.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (USD $ in millions)
Net income hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden
Add: Interest expense, net hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden
 
Interest costs hidden hidden hidden hidden hidden
Ratio With and Without Capitalized Interest
Interest coverage ratio (excluding capitalized interest)1 hidden hidden hidden hidden hidden
Adjusted interest coverage ratio (including capitalized interest)2 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-19).

2018 Calculations

1 Interest coverage ratio (excluding capitalized interest) = EBIT ÷ Interest expense, net
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2 Adjusted interest coverage ratio (including capitalized interest) = EBIT ÷ Interest costs
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Ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Amgen Inc.’s adjusted interest coverage ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.