AMGN » Topics » 6. Stockholders equity

This excerpt taken from the AMGN 10-Q filed May 11, 2009.

7.    Stockholders’ equity

Stock repurchase programs

A summary of activity under our stock repurchase programs for the three months ended March 31, 2009 and 2008 is as follows (in millions):

 

     2009

 

   2008

 

    

 

    Shares    

 

  

 

    Dollars    

 

  

 

    Shares    

 

  

 

    Dollars    

 

First quarter

   37.5        $ 1,997      -            $ -      

As of March 31, 2009, $2.2 billion remained available for stock repurchases as authorized by our Board of Directors. The manner of purchases, the amount we spend and the number of shares repurchased will vary based on a variety of factors, including the stock price, blackout periods in which we are restricted from repurchasing shares, and our credit rating and may include private block purchases as well as market transactions.

This excerpt taken from the AMGN 10-Q filed Nov 7, 2008.

6. Stockholders’ equity

Stock repurchase programs

A summary of activity under our stock repurchase programs for the nine months ended September 30, 2008 and 2007 is as follows (in millions):

 

     2008     2007
         Shares            Dollars             Shares             Dollars    

First quarter

   -            $ -           8.8         $ 537  

Second quarter

   32.7        1,549   (1)   73.9   (2)     4,463  

Third quarter

   -            19   (1)   2.5   (2)     -      
                         

Total

   32.7        $     1,568       85.2         $     5,000  
                         

 

(1)

The total cost of shares repurchased during the second quarter of 2008 excludes approximately $19 million paid in July 2008 in connection with the final settlement of an accelerated share repurchase program (“ASR”) entered into in May 2008.

 

(2)

The total number of shares repurchased during the second quarter of 2007 excludes 2.5 million shares received in July 2007 in connection with the final settlement of an ASR entered into in May 2007.

As of September 30, 2008, $4.9 billion remained available for stock repurchases as authorized by our Board of Directors. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a number of factors, including the stock price, blackout periods in which we are restricted from

 

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Table of Contents

AMGEN INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

repurchasing shares, and our credit rating and may include private block purchases as well as market transactions.

This excerpt taken from the AMGN 10-Q filed Aug 8, 2008.

6. Stockholders’ equity

Stock repurchase programs

A summary of activity under our stock repurchase programs for the three and six months ended June 30, 2008 and 2007 is as follows (in millions):

 

     2008     2007
         Shares            Dollars             Shares             Dollars    

First quarter

   -            $ -           8.8         $ 537  

Second quarter

   32.7        1,549   (1)   73.9   (2)     4,463  
                         

Total

   32.7        $     1,549   (1)   82.7   (2)     $     5,000  
                         

 

 

(1)

The total cost of shares repurchased during the three and six months ended June 30, 2008 excludes approximately $19 million paid in July 2008 in connection with the final settlement of an accelerated share repurchase program (“ASR”) entered into in May 2008.

 

(2)

The total number of shares repurchased during the three and six months ended June 30, 2007 excludes 2.5 million shares received in July 2007 in connection with the final settlement of an ASR entered into in May 2007.

As of June 30, 2008, $4.9 billion remained available for stock repurchases as authorized by our Board of Directors. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a variety of factors, including the stock price, blackout periods in which we are restricted from repurchasing shares, and our credit rating and may include private block purchases as well as market transactions.

This excerpt taken from the AMGN 10-Q filed May 12, 2008.

6. Stockholders’ equity

Stock repurchase programs

A summary of activity under our stock repurchase programs for the three months ended March 31, 2008 and 2007 is as follows (in millions):

 

     2008    2007
     Shares    Dollars    Shares    Dollars

First quarter

   —      $ —      8.8    $ 537

As of March 31, 2008, $6.4 billion was available for stock repurchases under the $5.0 billion repurchase authorization received from the Board of Directors in July 2007 and amounts remaining from the Board of Director’s previous authorization in December 2006. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a variety of factors, including the stock price, blackout periods, in which we are restricted from repurchasing shares, and our credit rating and may include private block purchases as well as market transactions.

 

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Table of Contents

AMGEN INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)

 

This excerpt taken from the AMGN 10-Q filed Nov 9, 2007.

6. Stockholders’ equity

Stock repurchase programs

The following table reflects a summary of activity under our stock repurchase programs for the nine months ended September 30, 2007 and 2006 (in millions):

 

     2007    2006
     Shares     Dollars    Shares    Dollars

First quarter

   8.8     $ 537    46.6    $ 3,374

Second quarter

   73.9 (1)     4,463    13.0      876

Third quarter

   2.5 (1)     —      7.3      505
                        

Total

   85.2     $ 5,000    66.9    $ 4,755
                        

(1) The total number of shares repurchased during the three months ended June 30, 2007 excludes 2,527,937 of shares received in July 2007 in connection with the final settlement of a block trade entered into in May 2007, which is discussed in Note 5, “Financing Arrangements” above (also see “Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities” in Part II herein).

As of September 30, 2007, $1.5 billion was available for stock repurchases under our stock repurchase program authorized by the Board of Directors in December 2006. In July 2007, the Board of Directors authorized us to repurchase up to an additional $5.0 billion of common stock. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a variety of factors, including the stock price and blackout periods in which we are restricted from repurchasing shares, and may include private block purchases as well as market transactions.

Comprehensive income

Our comprehensive income includes net income, unrealized gains and losses on our available-for-sale securities and foreign currency forward and option contracts, which qualify and are designated as cash flow hedges, and foreign currency translation adjustments. During the three and nine months ended September 30, 2007, total comprehensive income was $208 million and $2.3 billion, respectively. During the three and nine months ended September 30, 2006, total comprehensive income was $1.1 billion and $2.1 billion, respectively.

This excerpt taken from the AMGN 10-Q filed Aug 9, 2007.

5. Stockholders’ equity

Stock repurchase programs

The following table reflects a summary of activity under our stock repurchase programs for the six months ended June 30, 2007 and 2006 (in millions):

 

     2007    2006
     Shares     Dollars    Shares    Dollars

First quarter

   8.8     $ 537    46.6    $ 3,374

Second quarter

   73.9 (1)     4,463    13.0      876
                        

Total

   82.7 (1)   $ 5,000    59.6    $ 4,250
                        

(1) The total number of shares repurchased during the three and six months ended June 30, 2007 excludes 2,527,937 of shares received in July 2007 in connection with the final settlement of a block trade entered into in May 2007, which is discussed in Note 3, “Financing Arrangements” above (also see “Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities” in Part II herein).

As of June 30, 2007, $1,539 million was available for stock repurchases under our stock repurchase program authorized by the Board of Directors in December 2006. In July 2007, the Board authorized us to repurchase up to an additional $5.0 billion of common stock. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a variety of factors, including the stock price and blackout periods in which we are restricted from repurchasing shares, and may include private block purchases as well as market transactions.

Comprehensive income

Our comprehensive income includes net income, unrealized gains and losses on our available-for-sale securities and foreign currency forward and option contracts, which qualify and are designated as cash flow hedges, and foreign currency translation adjustments. During the three and six months ended June 30, 2007, total comprehensive income was $987 million and $2,104 million, respectively. During the three and six months ended June 30, 2006, total comprehensive income was $5 million and $977 million, respectively.

This excerpt taken from the AMGN 10-Q filed May 9, 2007.

5. Stockholders’ equity

Stock repurchase programs

A summary of activity under our stock repurchase programs for the three months ended March 31, 2007 and 2006 is as follows (in millions):

 

     2007    2006
     Shares    Dollars    Shares    Dollars

First quarter

   8.8    $ 537    46.6    $ 3,374

As of March 31, 2007, $6,002 million was available for stock repurchases under our stock repurchase programs authorized by the Board of Directors. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a variety of factors, including the stock price and blackout periods in which we are restricted from repurchasing shares, and may include private block purchases as well as market transactions.

Comprehensive income

Our comprehensive income includes net income, unrealized gains and losses on our available-for-sale securities and foreign currency forward and option contracts, which qualify and are designated as cash flow hedges, and foreign currency translation adjustments. During the three months ended March 31, 2007 and 2006, total comprehensive income was $1,117 million and $972 million, respectively.

This excerpt taken from the AMGN 10-Q filed Nov 9, 2006.

6.             Stockholders’ equity

Stock repurchase program

A summary of activity under our stock repurchase program for the nine months ended September 30, 2006 and 2005 is as follows (in millions):

 

2006

 

2005

 

 

 

Shares

 

Dollars

 

Shares

 

Dollars

 

First quarter

 

46.7

 

$

3,374

 

26.8

 

$

1,675

 

Second quarter

 

13.0

 

876

 

12.1

 

750

 

Third quarter

 

7.3

 

505

 

9.5

 

769

 

Total

 

67.0

 

$

4,755

 

48.4

 

$

3,194

 

 

As of September 30, 2006, $1,784 million was available for stock repurchases under our stock repurchase program authorized by the Board of Directors in December 2005. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a variety of factors including the stock price and blackout periods in which we are restricted from repurchasing shares, and may include private block purchases as well as market transactions.

Stockholder Rights Agreement

On July 11, 2006, Amgen’s board of directors voted unanimously to terminate our preferred stock rights plan. The plan was originally scheduled to expire on December 12, 2010, but was amended to accelerate the expiration date to July 31, 2006.

Comprehensive income

Our comprehensive income includes net income, unrealized gains and losses on our available-for-sale securities and foreign currency forward and option contracts, which qualify and are designated as cash flow hedges, and foreign currency translation adjustments. During the three and nine months ended September 30, 2006, total comprehensive income was $1,128 million and $2,105 million, respectively. During the three and nine months ended September 30, 2005, total comprehensive income was $953 million and $2,864 million, respectively.

This excerpt taken from the AMGN 10-Q filed Aug 9, 2006.

6.             Stockholders’ equity

 

Stock repurchase program

 

A summary of activity under our stock repurchase program for the six months ended June 30, 2006 and 2005 is as follows:

 

 

 

2006

 

2005

 

 

 

Shares

 

Dollars

 

Shares

 

Dollars

 

First quarter

 

46.7

 

$

3,374

 

26.8

 

$

1,675

 

Second quarter

 

13.0

 

876

 

12.1

 

750

 

Total

 

59.7

 

$

4,250

 

38.9

 

$

2,425

 

 

As of June 30, 2006, $2,289 million was available for stock repurchases under our stock repurchase program authorized by the Board of Directors in December 2005. The manner of purchases, the amount we spend, and the number of shares repurchased will vary based on a variety of factors including the stock price and blackout periods in which we are restricted from repurchasing shares, and may include private block purchases as well as market transactions.

 

Stockholder Rights Agreement

 

On July 11, 2006, Amgen’s board of directors voted unanimously to terminate our preferred stock rights plan. The plan was originally scheduled to expire on December 12, 2010, but was amended to accelerate the expiration date to July 31, 2006.

 

Comprehensive income

 

Our comprehensive income includes net income, unrealized gains and losses on our available-for-sale securities and foreign currency forward and option contracts, which qualify and are designated as cash flow hedges, and foreign currency translation adjustments. During the three and six months ended June 30, 2006, total comprehensive income was $5 million and $977 million, respectively. During the three and six months ended June 30, 2005, total comprehensive income was $1,060 million and $1,911 million, respectively.

 

This excerpt taken from the AMGN 10-Q filed May 10, 2006.

6.             Stockholders’ equity

 

Stock repurchase program

 

During the three months ended March 31, 2006 and 2005, we repurchased 46.7 million and 26.8 million shares of our common stock at a total cost of $3,386 million and $1,675 million, respectively. As of March 31, 2006, $3,165 million was available for stock repurchases under our stock repurchase program authorized by the Board of Directors in December 2005. The manner of

 

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purchases, amount we spend, and the number of shares repurchased will vary based on a variety of factors including the stock price and blackout periods in which we are restricted from repurchasing shares, and may include private block purchases as well as market transactions.

 

Comprehensive income

 

Our comprehensive income includes net income, unrealized gains and losses on our available-for-sale securities and foreign currency forward and option contracts, which qualify and are designated as cash flow hedges, and foreign currency translation adjustments. During the three months ended March 31, 2006 and 2005, total comprehensive income was $972 million and $851 million, respectively.

 

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