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Amgen Inc. (AMGN)


Analysis of Inventory

High level of difficulty


Accounting Policy on Inventory

Inventories are stated at the lower of cost or net realizable value. Cost, which includes amounts related to materials, labor and overhead, is determined in a manner that approximates the first-in, first-out method. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation.

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


Inventory Disclosure

Amgen Inc., balance sheet: inventory

US$ in millions

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Raw materials 257  232  225  201  198 
Work in process 1,660  1,668  1,608  1,529  1,551 
Finished goods 1,023  934  912  705  898 
Inventories 2,940  2,834  2,745  2,435  2,647 

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
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Amgen Inc.’s inventories increased from 2016 to 2017 and from 2017 to 2018.