news/AMGN/2023.02.14/Amgen : Non-GAAP Reconciliations - Amgen Fixed Income Investor Presentation February 2023.txt

        Reconciliation of Fourth Quarter Cash Flows 2021-2022 (In millions)
      

        (Unaudited)
      



        Reconciliation of GAAP to Non-GAAP Net Income 2019-2022 (In millions)
      

        (Unaudited)
      


The adjustments related primarily to noncash amortization of intangible assets from business acquisitions.


Starting January 2022, we no longer exclude adjustments for upfront license fees, development milestones and in-process research and development (IPR&D) expenses of pre-approval programs related to licensing, collaboration and asset acquisition transactions from our non-U.S. Generally Accepted Accounting Principles (GAAP) measures. The adjustments to net income reflect this update to our non-GAAP policy for 2021.
        

Starting January 2021, we began to exclude the gains and losses on our investments in equity securities from our non-GAAP measures that are recorded to Interest (expense) income, net, pursuant to an update to our non-GAAP policy. The adjustments to net income reflect this update to our non-GAAP policy for 2020.
        


Attachments


            Original Link
          

            Original Document
          

            Permalink
          



Disclaimer
Amgen Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 19:11:08 UTC.