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Amgen Inc. (AMGN)


Balance Sheet: Liabilities and Stockholders’ Equity

Difficulty: Beginner

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Amgen Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Accounts payable 1,207  1,352  917  965  1,212 
Sales deductions 3,170  2,247  1,874  1,486  1,379 
Employee compensation and benefits 1,001  816  920  916  920 
Dividends payable 914  953  849  754  601 
Sales returns reserve 535  455  437  390  361 
Other 2,242  2,045  1,804  1,906  2,035 
Accrued liabilities 7,862  6,516  5,884  5,452  5,296 
Current portion of long-term debt 4,419  1,152  4,403  2,250  500 
Current liabilities 13,488  9,020  11,204  8,667  7,008 
Long-term debt, excluding current portion 29,510  34,190  30,193  29,306  30,215 
Long-term deferred tax liabilities 864  1,166  2,436  2,239  3,461 
Long-term tax liabilities 8,770  9,099  2,419  1,973  — 
Other noncurrent liabilities 1,284  1,238  1,499  1,308  2,547 
Noncurrent liabilities 40,428  45,693  36,547  34,826  36,223 
Total liabilities 53,916  54,713  47,751  43,493  43,231 
Common stock and additional paid-in capital; $0.0001 par value per share 31,246  30,992  30,784  30,649  30,410 
Accumulated deficit (17,977) (5,072) (438) (2,086) (4,624)
Accumulated other comprehensive loss (769) (679) (471) (480) (8)
Stockholders’ equity 12,500  25,241  29,875  28,083  25,778 
Total liabilities and stockholders’ equity 66,416  79,954  77,626  71,576  69,009 

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).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Amgen Inc.’s current liabilities declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Amgen Inc.’s noncurrent liabilities increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Amgen Inc.’s total liabilities increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Stockholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Amgen Inc.’s stockholders’ equity declined from 2016 to 2017 and from 2017 to 2018.