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Microsoft Excel LibreOffice Calc

Amgen Inc. (NASDAQ:AMGN)

Analysis of Debt

Advanced level

Total Debt (Carrying Amount)

Amgen Inc., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Current portion of long-term debt
Long-term debt, excluding current portion
Total borrowings (carrying amount)

Based on: 10-K (filing date: 2020-02-12), 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).

Debt 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 decreased from 2017 to 2018 and from 2018 to 2019.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2019
Selected Financial Data (US$ in millions)
Total borrowings (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2020-02-12).

Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on debt:

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

Based on: 10-K (filing date: 2020-02-12).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =

Interest Costs Incurred

Amgen Inc., interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Interest expenses, net
Interest costs capitalized
Interest costs

Based on: 10-K (filing date: 2020-02-12), 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).

Debt 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 2017 to 2018 but then decreased significantly from 2018 to 2019.
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 2017 to 2018 but then decreased significantly from 2018 to 2019.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income
Add: Income tax expense
Add: Interest expense, net
Earnings before interest and tax (EBIT)
 
Interest costs
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (filing date: 2020-02-12), 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).

2019 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs
= ÷ =

Solvency 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 deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.