Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company 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 (quarterly data)

US$ in millions

	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Accounts payable	2,865)	2,935)	2,367)	2,838)	3,010)	2,406)	1,908)	2,147)	2,267)	1,628)	1,590)	1,358)	1,212)	1,320)	1,572)	1,204)	1,256)	1,403)	1,366)	1,171)	1,277)	1,396)
Accrued liabilities	17,192)	16,583)	18,523)	16,800)	15,022)	17,234)	17,641)	14,621)	13,722)	14,127)	15,359)	14,168)	13,718)	12,061)	12,524)	11,584)	10,545)	10,639)	10,731)	9,383)	8,984)	9,917)
Current portion of long-term debt	5,445)	5,437)	4,599)	2,153)	2,444)	3,368)	3,550)	3,544)	5,528)	3,959)	1,443)	1,428)	2,167)	834)	1,591)	1,543)	817)	844)	87)	4,288)	4,324)	1,556)
Current liabilities	25,502)	24,955)	25,489)	21,791)	20,476)	23,008)	23,099)	20,312)	21,517)	19,714)	18,392)	16,954)	17,097)	14,215)	15,687)	14,331)	12,618)	12,886)	12,184)	14,842)	14,585)	12,869)
Long-term debt, excluding current portion	51,859)	51,886)	50,005)	52,434)	53,760)	54,013)	56,549)	56,854)	57,117)	60,061)	63,170)	59,040)	59,377)	60,761)	37,354)	37,161)	35,705)	36,010)	33,222)	33,291)	28,458)	31,129)
Long-term deferred tax liabilities	1,301)	1,344)	1,366)	1,458)	1,386)	1,510)	1,616)	1,711)	1,780)	1,862)	2,354)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Long-term tax liabilities	2,844)	2,764)	2,690)	2,616)	2,511)	2,419)	2,349)	2,280)	2,205)	3,964)	4,680)	4,579)	4,478)	5,864)	5,757)	5,680)	5,603)	6,652)	6,594)	6,483)	6,428)	7,037)
Other noncurrent liabilities	2,445)	2,365)	2,378)	2,223)	2,336)	2,210)	2,349)	2,199)	2,363)	2,357)	2,326)	2,305)	2,536)	2,532)	2,662)	2,875)	2,949)	2,732)	2,465)	2,160)	2,055)	2,170)
Noncurrent liabilities	58,449)	58,359)	56,439)	58,731)	59,993)	60,152)	62,863)	63,044)	63,465)	68,244)	72,530)	65,924)	66,391)	69,157)	45,773)	45,716)	44,257)	45,394)	42,281)	41,934)	36,941)	40,336)
Total liabilities	83,951)	83,314)	81,928)	80,522)	80,469)	83,160)	85,962)	83,356)	84,982)	87,958)	90,922)	82,878)	83,488)	83,372)	61,460)	60,047)	56,875)	58,280)	54,465)	56,776)	51,526)	53,205)
Common stock and additional paid-in capital; $0.0001 par value	34,082)	34,030)	34,023)	33,841)	33,680)	33,578)	33,533)	33,393)	33,204)	33,082)	33,070)	32,753)	32,601)	32,535)	32,514)	32,371)	31,343)	31,247)	32,096)	31,989)	31,877)	31,806)
Accumulated deficit	(22,275)	(24,650)	(25,107)	(23,800)	(25,708)	(27,140)	(27,590)	(25,530)	(27,124)	(27,870)	(26,549)	(24,971)	(25,540)	(26,919)	(28,622)	(28,066)	(28,252)	(29,568)	(24,600)	(22,964)	(22,762)	(21,639)
Accumulated other comprehensive loss	(119)	(190)	(258)	(422)	(544)	(231)	(66)	(336)	(155)	(190)	(289)	(126)	(280)	(268)	(231)	(652)	(672)	(763)	(796)	(808)	(868)	(833)
Stockholders’ equity	11,688)	9,190)	8,658)	9,619)	7,428)	6,207)	5,877)	7,527)	5,925)	5,022)	6,232)	7,656)	6,781)	5,348)	3,661)	3,653)	2,419)	916)	6,700)	8,217)	8,247)	9,334)
Total liabilities and stockholders’ equity	95,639)	92,504)	90,586)	90,141)	87,897)	89,367)	91,839)	90,883)	90,907)	92,980)	97,154)	90,534)	90,269)	88,720)	65,121)	63,700)	59,294)	59,196)	61,165)	64,993)	59,773)	62,539)

The capital structure exhibits a significant expansion in total liabilities and a period of extreme volatility in stockholders' equity between March 2021 and June 2026. Total liabilities grew from 53.2 billion USD to 83.9 billion USD over the period, driven primarily by a substantial increase in long-term debt and a steady rise in current operating liabilities.

Current Liabilities Trend: A consistent upward trajectory is observed in current liabilities, which rose from 12.8 billion USD in March 2021 to 25.5 billion USD by June 2026. This growth is largely supported by an increase in accrued liabilities, which climbed from 9.9 billion USD to 17.1 billion USD. Accounts payable also demonstrated a notable increase, particularly from 2024 onwards, doubling from approximately 1.6 billion USD in December 2023 to 2.8 billion USD by June 2026.
Long-Term Debt and Noncurrent Obligations: A primary shift in the balance sheet occurred in March 2023, where long-term debt, excluding the current portion, spiked from 37.3 billion USD in December 2022 to 60.7 billion USD. Following this peak, long-term debt gradually declined to 51.8 billion USD by June 2026. Conversely, long-term tax liabilities showed a steady downward trend, decreasing from 7.0 billion USD in March 2021 to 2.8 billion USD in June 2026, partially offsetting the increase in debt-related obligations.
Stockholders' Equity and Retained Earnings: Stockholders' equity experienced a severe contraction, reaching a minimum of 916 million USD in March 2022. Since that low point, a sustained recovery trend is evident, with equity rising to 11.6 billion USD by June 2026. This recovery is mirrored in the accumulated deficit, which, while remaining negative, improved from a peak deficit of 29.5 billion USD in March 2022 to 22.2 billion USD by June 2026.
Overall Solvency and Leverage Patterns: The ratio of total liabilities to stockholders' equity peaked in early 2022, indicating a period of high financial leverage. While total liabilities remain significantly higher than the 2021 baseline, the simultaneous growth in stockholders' equity from 2022 through 2026 suggests a gradual rebalancing of the company's financial position and an improvement in the equity cushion.

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Amgen Inc. (NASDAQ:AMGN)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data