11-K 1 a2024puertoricoplan11-k.htm 11-K Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 11-K
(Mark One)
 ýANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2024
OR
 
 ¨TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 001-37702
RETIREMENT AND SAVINGS PLAN FOR
AMGEN MANUFACTURING LIMITED LLC
State Road 31, Kilometer 24.6, Juncos, Puerto Rico 00777
(Full title and address of the plan)
AMGEN INC.
(Name of issuer of the securities held)
 
One Amgen Center Drive, 91320-1799
Thousand Oaks, California (Zip Code)
(Address of principal executive offices) 





Retirement and Savings Plan for
Amgen Manufacturing Limited LLC

Audited Financial Statements
and Supplemental Schedule
Year Ended December 31, 2024

Contents
 




Report of Independent Registered Public Accounting Firm

To the Plan Participants and the Plan Administrator of the Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Retirement and Savings Plan for Amgen Manufacturing Limited LLC (the Plan) as of December 31, 2024 and 2023, and the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2024 and 2023, and the changes in its net assets available for benefits for the year ended December 31, 2024, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Schedule Required by ERISA
The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2024, (referred to as the “supplemental schedule”), has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ ERNST & YOUNG LLP
We have served as the Plan’s auditor since 1992.
Los Angeles, California
June 12, 2025
1



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Statements of Net Assets Available for Benefits

 December 31,
 20242023
Assets
Investments at fair value$762,010,202 $702,634,440 
Notes receivable from participants18,107,898 16,846,516 
Other – principally due from broker302,276 713,083 
Total assets780,420,376 720,194,039 
Liabilities
Other – principally due to broker332,225 634,863 
Total liabilities332,225 634,863 
Net assets available for benefits$780,088,151 $719,559,176 
See accompanying notes.
2



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Statement of Changes in Net Assets Available for Benefits

 Year Ended December 31,
 2024
Additions to (deductions from) net assets:
Employer contributions$21,287,553 
Participant contributions19,232,551 
Rollover contributions288,090 
Interest and dividend income5,416,829 
Net realized/unrealized gains46,915,641 
Interest income on notes receivable from participants1,174,893 
Benefits paid(33,154,339)
Investment and administrative fees(632,243)
Net increase60,528,975 
Net assets available for benefits at beginning of year719,559,176 
Net assets available for benefits at end of year$780,088,151 
See accompanying notes.
3



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements
December 31, 2024

1. Description of the Plan
The following is a description of the Retirement and Savings Plan for Amgen Manufacturing Limited LLC (the Plan). Effective May 1, 2024, the Plan (formerly known as the Retirement and Savings Plan for Amgen Manufacturing, Limited) was amended solely to reflect that, as a result of an internal organizational restructuring that had no substantive impact on participants or Plan assets, the Plan sponsor is now Amgen Manufacturing Limited LLC (the successor entity to Amgen Manufacturing, Limited). The description below provides only general information, and accordingly, participants should refer to the Plan document for a more complete description of the Plan’s provisions.
General
The Plan was established effective May 1, 1992, and was amended and restated effective January 1, 2017, and subsequently amended, with the most recent amendment adopted on June 7, 2024. The Plan is a defined contribution plan covering substantially all Puerto Rico resident employees of Amgen Manufacturing Limited LLC (the Company), a wholly owned subsidiary of Amgen Inc. (Amgen). The Plan is intended to qualify under Section 1081.01 of the Puerto Rico Internal Revenue Code of 2011, as amended (the PR Code) (see Note 4, Income Tax Status) and section 407(d)(3)(A) of the Employee Retirement Income Security Act of 1974 (ERISA).
Contributions
Subject to certain limitations (as defined in the Plan), participants may elect to contribute up to 30% of their eligible compensation in pre-tax contributions and after-tax contributions or a combination of these types of contributions (together, Individual Contributions). A participant’s pre-tax contributions are subject to the PR Code and Plan limitations and could not exceed $15,000 in 2024. Participants may elect to contribute after-tax contributions beginning January 1 of the year following the year the participant was hired. Participant after-tax contributions are subject to the PR Code and Plan limitations and could not exceed $1,500 in 2024. Unless an employee has voluntarily enrolled in the Plan or has declined to participate in the Plan within the first 30 days of employment, all newly eligible participants are automatically enrolled in the Plan, and contributions equal to 5% of their eligible compensation are withheld and contributed to the Plan as pre-tax contributions; such contributions are automatically increased by 1% per year until their contributions reach 10% of their eligible compensation. Participants may elect to adjust, cease or resume their Individual Contributions at any time.
Participants who are at least age 50 by the close of the Plan year may also elect to make certain additional pre-tax Individual Contributions, referred to as catch-up contributions, that are subject to the PR Code and Plan limitations and could not exceed $1,500 in 2024. Participants may also contribute pre-tax and after-tax amounts representing distributions from certain other retirement plans qualified in Puerto Rico, referred to as rollover contributions (as defined in the Plan).
Each pay period, the Company makes a non-elective contribution for all eligible participants, whether or not they have elected to make Individual Contributions to the Plan, equal to 4% of each participant’s eligible compensation up to a maximum of $13,800 in 2024 (Core Contributions). In addition, the Company makes a contribution equal to amounts contributed by the participant as pre-tax contributions, including catch-up contributions, of up to 5% of eligible compensation (Matching Contributions). Matching Contributions could not exceed $15,000 in 2024 (or $16,500 for catch-up eligible participants).
Participants select the investments in which their Individual Contributions, including their Core Contributions and Matching Contributions (collectively, Company Contributions), are to be invested, electing among various alternatives, including Amgen common stock (Amgen stock). Participants may direct a maximum of 20% of contributions to be invested in Amgen stock. In addition, participants may transfer amounts among the investment options at any time, subject to certain limitations. Notwithstanding the foregoing, if 20% or more of the value of a participant’s Plan account is invested in Amgen stock, the Plan document provides that no transfers from other investment options can be made to invest in Amgen stock.
The accounts of participants who have not made an investment election are allocated to investments under a qualified default investment alternative, which is intended to be compliant with ERISA regulations. At any time, participants may elect to alter the investments in their accounts made under a qualified default investment alternative.
Vesting
Participants are immediately vested with respect to their Individual Contributions and Matching Contributions and earnings and losses (hereafter referred to as earnings) thereon. Participants hired prior to January 1, 2020, are also immediately vested
4



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

with respect to their Core Contributions and earnings thereon. Participants hired on or after January 1, 2020, vest in full with respect to their Core Contributions and earnings thereon after three years of service, as defined by the terms of the Plan, or upon reaching age 65 while employed by the Company, if earlier. If a participant ceases to be an employee before fully vesting in their account, the non-vested Core Contributions and earnings thereon of the participant’s account will be treated as a forfeiture, as defined by the terms of the Plan, on the earlier of (a) the date the participant incurs a five-year break in service, as defined by the terms of the Plan or, (b) the date the participant receives a distribution of the entire vested portion of their account.
Participant Accounts
Each participant’s account is credited with: (a) the participant’s Individual Contributions; (b) an allocation of Company Contributions; and (c) earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.
Plan Investments
Plan participants can invest in seven different asset classes as well as Amgen stock or can actively manage their account under a self-directed brokerage arrangement in which a wider array of investment options are available. The value of an investment in an asset class is determined by its underlying investment vehicles, which may include one or more of the following: mutual funds, collective trust funds and portfolios, which are separately managed exclusively for the benefit of Plan participants and their beneficiaries (separately managed portfolios). The separately managed portfolios are composed primarily of investments in publicly traded common and preferred stocks. The asset classes are designed to provide participants with choices among a variety of investment objectives.
Payments of Benefits
Subject to Plan limitations, upon termination of employment, including termination due to disability (as defined in the Plan) or retirement, a participant may elect to receive a full or partial distribution of his or her account balance in: (a) a single payment in cash; (b) a single distribution in full shares of Amgen stock (with any fractional shares paid in cash); (c) a single distribution paid in a combination of cash and full shares of Amgen stock; or (d) a rollover distribution to an eligible retirement plan.
Participants may also elect to maintain their account balance in the Plan subsequent to termination of employment, provided that their account balance is greater than $1,000.
If a participant dies before receiving the value of his or her account balance, the participant’s beneficiary may elect to receive the distribution of remaining funds from among the alternatives described above, subject to certain Plan limitations.
No withdrawals may be made from the Plan while a participant continues to be employed by the Company except in certain circumstances including, but not limited to, financial hardship, disability and attainment of age 59 1/2.
Notes Receivable from Participants
Subject to certain restrictions, a participant can have up to two loans outstanding at any one time from his or her Plan account with a combined maximum loan amount that may not exceed the lesser of: (a) 50% of the participant’s account balance or (b) $50,000 less certain adjustments, as applicable (as defined in the Plan). A participant’s loan is secured by his or her Plan account balance. Loans bear interest at fixed rates which, until changed by the Company, are based on the prime rate plus one percentage point as published in The Wall Street Journal, determined as of the last day of the calendar quarter preceding origination or such other rate as may be required by law. Loans are generally payable in installments over periods ranging from one to five years, unless the loan is used to acquire a principal residence for which the term of the loan may be up to 20 years. Principal and interest payments are allocated to the participant’s account.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to terminate the Plan subject to the provisions of ERISA. Upon termination, participants would become fully vested in Core Contributions and receive distributions of their account balances.
5



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

Trustee and Custodians
Banco Popular de Puerto Rico is the Plan’s trustee. Bank of America, N.A. is the Plan’s custodian with respect to the self-directed brokerage arrangement and the Amgen common stock fund. Northern Trust Company, NA (Northern) is the Plan’s custodian with respect to the asset classes.
2. Summary of Significant Accounting Policies
Basis of Accounting
The accompanying financial statements are prepared on the accrual basis of accounting. Benefits to participants are recorded when paid.
Fair Value Measurement
The investments of the Plan are reported at fair value. Fair value is generally defined as the price that would be received to sell an asset or paid to transfer a liability (the exit price) in an orderly transaction between market participants at the measurement date (see Note 3, Fair Value Measurements).
Investment Income and Losses
Dividend income is recognized on the ex-dividend date, and interest income is recorded on an accrual basis. Unrealized gains and losses on investments are measured by the change in the difference between the fair value and cost of the securities held at the beginning of the year (or date purchased if acquired during the Plan year) and the end of the year. Realized gains and losses from security transactions are recorded based on the weighted-average cost of securities sold.
Notes Receivable from Participants
Notes receivable from participants are carried at their unpaid balance plus accrued but unpaid interest, as applicable.
Due from/to Brokers
Purchases and sales of investments are recorded on a trade-date basis. Amounts due from and due to brokers arise from unsettled sale and purchase transactions, respectively.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements, accompanying notes and supplemental schedule. Actual results could differ from those estimates.
Risks and Uncertainties
The Plan provides for investment options representing varied combinations of equities (including Amgen stock), fixed income, and other investments. Investments, in general, particularly in securities, are exposed to various risks, such as interest rate, inflation, market and credit risks, among others. Market risk includes global events which could impact the value of investments, including securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investments, including securities, it is at least reasonably possible that changes in the values of the Plan’s investments, including securities, will occur in the near term and that such changes could materially affect participant account balances and the amounts reported in the Plan’s financial statements.
3. Fair Value Measurements
The Plan uses various valuation approaches in determining the fair value of investments within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the investment based on market data obtained from independent sources. Unobservable inputs are inputs that reflect assumptions about the inputs that market participants would use in pricing the investment and are developed based on the best information available in the circumstances.
6



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

The fair value hierarchy is divided into three levels based on the source of inputs as follows:
Level 1 – Valuations based on unadjusted quoted prices in active markets for identical investments that the Plan has the ability to access
Level 2 – Valuations for which all significant inputs are observable, either directly or indirectly, other than Level 1 inputs
Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement
The availability of observable inputs can vary among the various types of investments. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used for measuring fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level of input used that is significant to the overall fair value measurement.
The following fair value hierarchy tables present information about each major class/category of the Plan’s investments measured at fair value:
 
Fair value measurements at December 31, 2024, using
 Quoted prices
in active
markets for
identical
assets
(Level 1)
Significant
other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Total
Amgen stock$100,973,506 $— $— $100,973,506 
Cash and cash equivalents43,702 — — 43,702 
Collective trust funds— 577,297,941 — 577,297,941 
Common and preferred stock47,870,415 — — 47,870,415 
Mutual funds16,198,902 — — 16,198,902 
Self-directed brokerage accounts19,625,736 — — 19,625,736 
Total investments at fair value$184,712,261 $577,297,941 $— $762,010,202 
 
Fair value measurements at December 31, 2023, using
 Quoted prices
in  active
markets  for
identical
assets
(Level 1)
Significant
other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Total
Amgen stock$113,016,422 $— $— $113,016,422 
Cash and cash equivalents30,340 — — 30,340 
Collective trust funds— 492,330,408 — 492,330,408 
Common and preferred stocks73,030,315 — — 73,030,315 
Mutual funds10,787,733 — — 10,787,733 
Self-directed brokerage accounts13,439,222 — — 13,439,222 
Total investments at fair value$210,304,032 $492,330,408 $— $702,634,440 
The fair values of substantially all common stocks (including Amgen stock), preferred stocks, mutual funds and underlying investments of self-directed brokerage accounts are valued using quoted market prices in active markets with no valuation adjustment.
7



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

Collective trust funds represent interests in pooled investment vehicles designed typically for collective investment of employee benefit trusts. The fair values of these investments are determined by reference to the net asset value per unit provided by the fund managers as the basis for current transactions.
4. Income Tax Status
The Plan received an opinion letter from the Puerto Rico Treasury Department (PRTD) dated February 26, 2018, with an effective date of January 1, 2017, stating that the Plan meets the requirements of Section 1081.01 of the PR Code and the regulations thereunder, and, therefore the related trust forming part of the Plan is exempt from taxation. Subsequently, seven amendments were made to the Plan, and the Plan received letters from the PRTD stating the PRTD has no objection to the first five of these amendments. The Company has submitted the sixth and seventh amendments to the PRTD requesting an opinion that the Plan remains in compliance with the PR Code and regulations thereunder. Once qualified, the Plan is required to operate in conformity with the PR Code to maintain its qualification.
For taxable year 2024, the Company believes the Plan satisfied, and operated in compliance with, the applicable requirements of the PR Code and therefore believes that the Plan, as amended, is qualified and the related trust is tax exempt. The Company has indicated that it currently intends to continue to take the necessary steps, if any, to maintain the Plan’s compliance with the applicable requirements of the PR Code.
5. Party-in-Interest Transactions
Parties-in-interest are certain entities defined under Department of Labor regulations, including Amgen, and other parties that provide services to the Plan, such as the trustees, custodians and investment managers. The Plan pays the custodians certain administrative and investment management fees, and the Company pays certain administrative fees on behalf of the Plan. The Plan invests in collective trust funds managed by Northern, certain of the Plan’s investment managers and other third parties and may invest in securities of entities that are parties-in-interest. The Plan also invests in shares of common stock of Amgen and receives dividends on those shares. Notes receivable from participants are also considered party-in-interest transactions.
8



Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

6. Reconciliation of Financial Statements to the Form 5500
The reconciliation of net assets available for benefits per the financial statements to the Form 5500 consisted of the following:
 December 31,
 20242023
Net assets available for benefits per the financial statements$780,088,151 $719,559,176 
Amounts allocated to withdrawing participants(9,000)(27,778)
Deemed loans(887,701)(850,054)
Net assets per the Form 5500$779,191,450 $718,681,344 
The following is a reconciliation of expenses per the financial statements to the Form 5500:
 Year Ended December 31, 2024
Benefits paid$(33,154,339)
Investment and administrative fees(632,243)
Total expenses per the financial statements(33,786,582)
Amounts allocated to withdrawing participants at December 31, 2023
27,778 
Amounts allocated to withdrawing participants at December 31, 2024
(9,000)
Deemed loans at December 31, 2023
850,054 
Deemed loans at December 31, 2024
(887,701)
Total expenses per the Form 5500$(33,805,451)
9


Supplemental Schedule
Retirement and Savings Plan for Amgen Manufacturing Limited LLC
EIN: 98-0210484 Plan: #001
As of December 31, 2024
Schedule H, line 4i – Schedule of Assets (Held at End of Year)
Identity of IssueDescription of InvestmentCurrent Value
Amgen stock*Employer Securities 387,406 shares$100,973,506 
$100,973,506 
Capital Preservation Asset Class:
Wells Fargo Stable Value Fund W*Collective Trust Fund 1,402,332 units90,775,341 
NT Collective Short Term Investment Fund*Collective Trust Fund 4,784,875 units4,784,875 
Total Capital Preservation Asset Class95,560,216 
Fixed Income Active Asset Class:
MetLife Core Plus Collective Fund*Collective Trust Fund 780,607 units7,868,517 
Wellington Core Bond Plus Portfolio Collective Investment Trust II*Collective Trust Fund 704,441 units7,826,344 
Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund - Non Lending*Collective Trust Fund 21,744 units3,266,157 
Schroder Global Strategic Bond Trust Class W*Collective Trust Fund 221,861 units2,442,691 
NT Collective Short Term Investment Fund*Collective Trust Fund 4 units
Total Fixed Income Active Asset Class21,403,713 
Fixed Income Index Asset Class:
Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund - Non Lending*Collective Trust Fund 940,926 units141,336,449 
NT Collective Short Term Investment Fund*Collective Trust Fund 14 units14 
Total Fixed Income Index Asset Class141,336,463 
U.S. Equity Active Asset Class:
Northern Trust Collective Russell 1000 Value Index Fund - Non Lending*Collective Trust Fund 16,013 units10,215,354 
NT Collective Russell 3000 Index Fund / Non Lending*Collective Trust Fund 49,090 units4,557,669 
Amazon Inc.Common and Preferred Stock 6,795 shares1,490,755 
Nvidia CorporationCommon and Preferred Stock 10159 shares1,364,252 
Microsoft CorporationCommon and Preferred Stock 3,135 shares1,321,403 
NT Collective Short Term Investment Fund*Collective Trust Fund 971,898 units971,898 
Facebook Inc. Class ACommon and Preferred Stock 1,480 shares866,555 
ServiceNow, Inc.Common and Preferred Stock 683 shares724,062 
Apple Inc.Common and Preferred Stock 2,812 shares704,181 
Visa Inc. Class ACommon and Preferred Stock 2,214 shares699,713 
SS&C Technologies Holdings Inc.Common and Preferred Stock 7,055 shares534,628 
Netflix, Inc.Common and Preferred Stock 540 shares481,313 
Entegris Inc.Common and Preferred Stock 4,522 shares447,949 
CVS Health CorporationCommon and Preferred Stock 9,920 shares445,309 
UnitedHealth Group IncorporatedCommon and Preferred Stock 874 shares442,122 
Baxter International Inc.Common and Preferred Stock 15,095 shares440,170 
Atlassian Corporation Class ACommon and Preferred Stock 1,771 shares431,026 
10



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
S&P Global Inc.Common and Preferred Stock 837 shares416,851 
Shopify Inc. Class ACommon and Preferred Stock 3,904 shares415,112 
Intuit Inc.Common and Preferred Stock 645 shares405,383 
Aon plcCommon and Preferred Stock 1,120 shares402,259 
Citigroup Inc.Common and Preferred Stock 5,546 shares390,383 
Waste Management, Inc.Common and Preferred Stock 1,932 shares389,858 
Gartner Inc.Common and Preferred Stock 786 shares380,793 
Thermo Fisher Scientific Inc.Common and Preferred Stock 729 shares379,248 
Canadian Pacific Kansas City LimitedCommon and Preferred Stock 5,114 shares370,100 
Danaher CorporationCommon and Preferred Stock 1,592 shares365,444 
Novo Nordisk A/SCommon and Preferred Stock 4,195 shares360,854 
STERIS plcCommon and Preferred Stock 1,754 shares360,552 
Halozyme Therapeutics Inc.Common and Preferred Stock 7,447 shares356,041 
Yum! Brands, Inc.Common and Preferred Stock 2,651 shares355,658 
Dow Inc.Common and Preferred Stock 8,744 shares350,897 
Clean Harbors Inc.Common and Preferred Stock 1,513 shares348,202 
Wells Fargo & Company*Common and Preferred Stock 4,922 shares345,721 
Datadog, Inc. Class ACommon and Preferred Stock 2,334 shares333,505 
Humana Inc.Common and Preferred Stock 1,308 shares331,853 
Synopsys Inc.Common and Preferred Stock 675 shares327,618 
Global Payments Inc.Common and Preferred Stock 2,882 shares322,957 
Capital One Financial CorporationCommon and Preferred Stock 1,809 shares322,581 
Fresenius Medical CareCommon and Preferred Stock 14,095 shares319,111 
RB Global Inc.Common and Preferred Stock 3,501 shares315,825 
Amphenol Corporation Class ACommon and Preferred Stock 4,544 shares315,581 
Ecolab Inc.Common and Preferred Stock 1,344 shares314,926 
Workday, Inc.Common and Preferred Stock 1,216 shares313,764 
Waste Connections Inc.Common and Preferred Stock 1,808 shares310,217 
Dollar General CorporationCommon and Preferred Stock 4,032 shares305,706 
Merit Medical Systems Inc.Common and Preferred Stock 3,155 shares305,152 
MSCI Inc.Common and Preferred Stock 508 shares304,805 
Magna International Inc.Common and Preferred Stock 7,264 shares303,563 
DexCom, Inc.Common and Preferred Stock 3,840 shares298,637 
Spotify Technology S.A.Common and Preferred Stock 665 shares297,508 
Euronet Worldwide Inc.Common and Preferred Stock 2,864 shares294,534 
Sea LimitedCommon and Preferred Stock 2,651 shares281,271 
Churchill Downs Inc.Common and Preferred Stock 2,062 shares275,359 
Samsara Inc. Class ACommon and Preferred Stock 6,253 shares273,194 
Lear CorporationCommon and Preferred Stock 2,845 shares269,422 
Trimble Inc.Common and Preferred Stock 3,809 shares269,144 
CarGurus Inc. Class ACommon and Preferred Stock 7,354 shares268,715 
Cognizant Technology Solutions Corporation Class ACommon and Preferred Stock 3,480 shares267,612 
Block, Inc.Common and Preferred Stock 3,145 shares267,294 
Ametek Inc.Common and Preferred Stock 1,453 shares261,918 
MetLife Inc.*Common and Preferred Stock 3,189 shares261,115 
Equitable Holdings Inc.Common and Preferred Stock 5,526 shares260,661 
Bank of America Corporation*Common and Preferred Stock 5,916 shares260,008 
Charter Communications Inc.Common and Preferred Stock 752 shares257,763 
Cloudflare, Inc.Common and Preferred Stock 2,385 shares256,817 
American Express CompanyCommon and Preferred Stock 853 shares253,162 
Autodesk, Inc.Common and Preferred Stock 854 shares252,417 
11



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Alphabet Inc.Common and Preferred Stock 1,314 shares250,238 
Bio-Techne CorporationCommon and Preferred Stock 3,401 shares244,974 
Intercontinental Exchange, Inc.Common and Preferred Stock 1,623 shares241,843 
BWX Technologies Inc.Common and Preferred Stock 2,167 shares241,382 
Bristol Myers SquibbCommon and Preferred Stock 4,248 shares240,267 
HealthEquity Inc.Common and Preferred Stock 2,496 shares239,491 
Alight Inc. Class ACommon and Preferred Stock 33,459 shares231,536 
Amdocs LimitedCommon and Preferred Stock 2,652 shares225,791 
Skyworks Solutions IncCommon and Preferred Stock 2,524 shares223,828 
Brown & Brown Inc.Common and Preferred Stock 2,191 shares223,526 
ASML Holding N.V.Common and Preferred Stock 319 shares221,093 
Voya Financial Inc.Common and Preferred Stock 3,208 shares220,807 
Okta Inc.Common and Preferred Stock 2,790 shares219,852 
Medtronic PLCCommon and Preferred Stock 2,734 shares218,392 
Pfizer Inc.Common and Preferred Stock 8,218 shares218,024 
Tyson Foods Inc.Common and Preferred Stock 3,766 shares216,319 
Delta Air Lines, Inc.Common and Preferred Stock 3,568 shares215,864 
Nu Holdings LimitedCommon and Preferred Stock 20,612 shares213,540 
Ingredion Inc.Common and Preferred Stock 1,528 shares210,192 
Shell plcCommon and Preferred Stock 3,331 shares208,687 
DoorDash, Inc. Class ACommon and Preferred Stock 1,230 shares206,333 
Salesforce.com Inc.Common and Preferred Stock 613 shares204,944 
LKQ CorporationCommon and Preferred Stock 5,393 shares198,193 
Huntington Bancshares Inc.Common and Preferred Stock 12,066 shares196,314 
Starbucks CorporationCommon and Preferred Stock 2,148 shares196,005 
Applovin Corporation Class ACommon and Preferred Stock 599 shares193,974 
IDEX CorporationCommon and Preferred Stock 918 shares192,128 
Charles River Laboratories International Inc.Common and Preferred Stock 1,020 shares188,292 
Generac Holdings Inc.Common and Preferred Stock 1,172 shares181,719 
Sensata Technologies BV HoldingCommon and Preferred Stock 6,557 shares179,662 
Newell Brands Inc.Common and Preferred Stock 17,875 shares178,035 
Viper Energy Inc.Common and Preferred Stock 3,625 shares177,879 
Waystar Holding CorporationCommon and Preferred Stock 4,805 shares176,344 
TE Connectivity plcCommon and Preferred Stock 1,206 shares172,422 
PVH CorporationCommon and Preferred Stock 1,629 shares172,267 
Dynatrace Inc.Common and Preferred Stock 3,168 shares172,181 
Uber Technologies, Inc.Common and Preferred Stock 2,818 shares169,982 
Doximity Inc.Common and Preferred Stock 3,172 shares169,353 
NOV Inc.Common and Preferred Stock 11,274 shares164,600 
UGI CorporationCommon and Preferred Stock 5,819 shares164,270 
Henry Schein Inc.Common and Preferred Stock 2,340 shares161,928 
Veracyte Inc.Common and Preferred Stock 4,027 shares159,469 
Coherent CorporationCommon and Preferred Stock 1,681 shares159,241 
Heico Corporation Class ACommon and Preferred Stock 687 shares158,726 
The Cooper Companies, Inc.Common and Preferred Stock 1,723 shares158,395 
Chewy Inc. Class ACommon and Preferred Stock 4,701 shares157,436 
Remitly Global Inc.Common and Preferred Stock 6,933 shares156,478 
First American Financial CorporationCommon and Preferred Stock 2,497 shares155,913 
MACOM Technology Solutions Holdings Inc.Common and Preferred Stock 1,193 shares154,983 
Roblox Corporation Class ACommon and Preferred Stock 2,605 shares150,725 
Huron Consulting Group Inc.Common and Preferred Stock 1,156 shares143,645 
12



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
GlobalFoundries Inc.Common and Preferred Stock 3,331 shares142,933 
AerCap Holdings N.V.Common and Preferred Stock 1,488 shares142,402 
Blackbaud, Inc.Common and Preferred Stock 1,921 shares142,000 
Dolby Laboratories Inc.Common and Preferred Stock 1,811 shares141,439 
Cabot CorporationCommon and Preferred Stock 1,526 shares139,339 
Axon Enterprise, Inc.Common and Preferred Stock 234 shares139,071 
Tandem Diabetes Care Inc.Common and Preferred Stock 3,825 shares137,777 
Woodward Inc.Common and Preferred Stock 796 shares132,470 
Snowflake Inc. Class ACommon and Preferred Stock 857 shares132,329 
ACV Auctions Inc. Class ACommon and Preferred Stock 6,060 shares130,896 
UBS Group AGCommon and Preferred Stock 4,273 shares129,557 
Prosperity Bancshares Inc.Common and Preferred Stock 1,717 shares129,376 
QuidelOrtho CorporationCommon and Preferred Stock 2,877 shares128,170 
Ultragenyx Pharmaceutical Inc.Common and Preferred Stock 3,033 shares127,598 
Curtiss Wright CorporationCommon and Preferred Stock 355 shares125,979 
nCino, Inc.Common and Preferred Stock 3,701 shares124,280 
Toro CompanyCommon and Preferred Stock 1,514 shares121,271 
Dycom Industries Inc.Common and Preferred Stock 696 shares121,146 
Belden Inc.Common and Preferred Stock 1,072 shares120,718 
National Retail Properties Inc.Common and Preferred Stock 2,937 shares119,976 
ACI Worldwide Inc.Common and Preferred Stock 2,299 shares119,341 
Copart Inc.Common and Preferred Stock 2,069 shares118,740 
Mid-American Apartment Communities Inc.Common and Preferred Stock 759 shares117,319 
Itron Inc.Common and Preferred Stock 1,071 shares116,289 
FMC CorporationCommon and Preferred Stock 2,288 shares111,220 
Kirby CorporationCommon and Preferred Stock 1,051 shares111,196 
Summit Materials Inc.Common and Preferred Stock 2,181 shares110,359 
Madrigal Pharmaceuticals, Inc.Common and Preferred Stock 349 shares107,691 
Advanced Energy Industries Inc.Common and Preferred Stock 926 shares107,073 
Teleflex Inc.Common and Preferred Stock 587 shares104,474 
WEX Inc.Common and Preferred Stock 591 shares103,614 
Permian Resources CorporationCommon and Preferred Stock 7,205 shares103,608 
Alamos Gold Inc. Class ACommon and Preferred Stock 5,570 shares102,711 
IAC Inc.Common and Preferred Stock 2,366 shares102,069 
Chart Industrials Inc.Common and Preferred Stock 532 shares101,527 
FTI Consulting Inc.Common and Preferred Stock 531 shares101,490 
BankUnited Inc.Common and Preferred Stock 2,657 shares101,418 
John Bean Technologies CorporationCommon and Preferred Stock 789 shares100,282 
Iridium Communications Inc.Common and Preferred Stock 3,455 shares100,264 
Graco Inc.Common and Preferred Stock 1,184 shares99,799 
Carlisle Companies Inc.Common and Preferred Stock 269 shares99,218 
Azekpany Inc.Common and Preferred Stock 2,080 shares98,738 
TKO Group Holdings Inc.Common and Preferred Stock 694 shares98,624 
Middleby CorporationCommon and Preferred Stock 720 shares97,524 
Rentokil Initial plcCommon and Preferred Stock 3,739 shares94,671 
Hexcel CorporationCommon and Preferred Stock 1,489 shares93,360 
Certara Inc.Common and Preferred Stock 8,682 shares92,463 
Cimpress plcCommon and Preferred Stock 1,288 shares92,375 
Chemed CorporationCommon and Preferred Stock 172 shares91,126 
National Bank Holdings Corporation Class ACommon and Preferred Stock 2,098 shares90,340 
Encompass Health CorporationCommon and Preferred Stock 964 shares89,025 
13



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Oceaneering International Inc.Common and Preferred Stock 3,381 shares88,176 
AptarGroup Inc.Common and Preferred Stock 555 shares87,191 
Supernus Pharmaceuticals Inc.Common and Preferred Stock 2,411 shares87,182 
Ciena CorporationCommon and Preferred Stock 1,027 shares87,100 
JP Morgan Chase & CompanyCommon and Preferred Stock 363 shares87,015 
Sotera Health CompanyCommon and Preferred Stock 6,295 shares86,116 
Range Resources CorporationCommon and Preferred Stock 2,374 shares85,417 
Keysight Technologies Inc.Common and Preferred Stock 531 shares85,295 
Pool CorporationCommon and Preferred Stock 247 shares84,212 
ASGN Inc.Common and Preferred Stock 1,003 shares83,590 
On Semiconductor CorporationCommon and Preferred Stock 1,321 shares83,289 
Barnes Group Inc.Common and Preferred Stock 1,721 shares81,334 
Hannon Armstrong Sustainable Infrastructure Capital Inc.Common and Preferred Stock 3,019 shares81,000 
Prestige Consumer Healthcare Inc.Common and Preferred Stock 1,036 shares80,901 
Knowles CorporationCommon and Preferred Stock 4,038 shares80,477 
Federal Signal CorporationCommon and Preferred Stock 857 shares79,178 
Box Inc. Class ACommon and Preferred Stock 2,503 shares79,095 
Omnicell Inc.Common and Preferred Stock 1,775 shares79,023 
Tenable Holdings Inc.Common and Preferred Stock 1,998 shares78,681 
KBR, Inc.Common and Preferred Stock 1,353 shares78,379 
WisdomTree Investments Inc.Common and Preferred Stock 7,451 shares78,236 
Applied Industrial Technologies Inc.Common and Preferred Stock 306 shares73,278 
Wolverine World Wide Inc.Common and Preferred Stock 3,293 shares73,105 
Markel Corporation Holding CompanyCommon and Preferred Stock 42 shares72,502 
Albany International Corporation Class ACommon and Preferred Stock 901 shares72,053 
Sprout Social, Inc. Class ACommon and Preferred Stock 2,344 shares71,984 
GFL Environmental Inc.Common and Preferred Stock 1,545 shares68,814 
Haemonetics CorporationCommon and Preferred Stock 868 shares67,773 
Globus Medical, Inc. Class ACommon and Preferred Stock 816 shares67,491 
Sally Beauty Holdings Inc.Common and Preferred Stock 6,405 shares66,932 
KB HomeCommon and Preferred Stock 987 shares64,866 
Core & Main, Inc. Class ACommon and Preferred Stock 1,258 shares64,045 
Teledyne Technologies Inc.Common and Preferred Stock 136 shares63,122 
SpringWorks Therapeutics Inc.Common and Preferred Stock 1,747 shares63,112 
Sportradar GroupCommon and Preferred Stock 3,490 shares60,517 
Acadia Healthcare Company Inc.Common and Preferred Stock 1,499 shares59,435 
Elastic N.V.Common and Preferred Stock 594 shares58,854 
8X8 Inc.Common and Preferred Stock 21,091 shares56,313 
Jacobs Solutions Inc.Common and Preferred Stock 421 shares56,254 
ZipRecruiter Inc. Class ACommon and Preferred Stock 7,539 shares54,582 
Axogen Inc.Common and Preferred Stock 3,306 shares54,483 
Legend Biotech CorporationCommon and Preferred Stock 1,663 shares54,114 
Agios Pharmaceuticals Inc.Common and Preferred Stock 1,631 shares53,595 
SLR Investment CorporationCommon and Preferred Stock 3,305 shares53,409 
J & J Snack Foods CorporationCommon and Preferred Stock 344 shares53,365 
Knight-Swift Transportation Holdings Inc. Class ACommon and Preferred Stock 1,004 shares53,252 
Carter Inc.Common and Preferred Stock 933 shares50,559 
Consensus Cloud Solutions Inc. Common and Preferred Stock 2,069 shares49,366 
N-Able Technologies International Inc.Common and Preferred Stock 5,255 shares49,082 
United Community Bank Blairsville GeorgiaCommon and Preferred Stock 1,514 shares48,917 
14



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Matthews International Corporation Class ACommon and Preferred Stock 1,745 shares48,302 
Trinet Group Inc.Common and Preferred Stock 530 shares48,108 
CONMED CorporationCommon and Preferred Stock 695 shares47,566 
Skechers USA Inc. Class ACommon and Preferred Stock 705 shares47,404 
Nasdaq Inc.Common and Preferred Stock 612 shares47,314 
Arvinas Inc.Common and Preferred Stock 2,454 shares47,043 
Tronox Holdings PLCCommon and Preferred Stock 4,666 shares46,987 
Eagle Materials Inc.Common and Preferred Stock 190 shares46,884 
Banner CorporationCommon and Preferred Stock 681 shares45,470 
Crescent Energy Company Class ACommon and Preferred Stock 3,103 shares45,335 
BRP Group Inc. Class ACommon and Preferred Stock 1,167 shares45,233 
WillScot Mobile Mini Holdings CorporationCommon and Preferred Stock 1,339 shares44,790 
Align Technology Inc.Common and Preferred Stock 213 shares44,413 
STAG Industrial Inc.Common and Preferred Stock 1,283 shares43,391 
Heartland Express Inc.Common and Preferred Stock 3,863 shares43,343 
Axalta Coating Systems LimitedCommon and Preferred Stock 1,249 shares42,741 
Cohen & Steers Inc.Common and Preferred Stock 455 shares42,015 
TreeHouse Foods Inc.Common and Preferred Stock 1,186 shares41,664 
Matson Inc.Common and Preferred Stock 308 shares41,531 
Wabtec CorporationCommon and Preferred Stock 216 shares40,951 
Exact Sciences CorporationCommon and Preferred Stock 712 shares40,007 
JBG SMITH PropertiesCommon and Preferred Stock 2,514 shares38,640 
Pacific Premier Bancorp Inc.Common and Preferred Stock 1,540 shares38,377 
GXO Logistics Inc.Common and Preferred Stock 879 shares38,237 
Littelfuse Inc.Common and Preferred Stock 161 shares37,940 
Silgan Holdings Inc.Common and Preferred Stock 726 shares37,788 
Northern Oil & Gas Inc.Common and Preferred Stock 1,016 shares37,755 
Fox Factory Holding CorporationCommon and Preferred Stock 1,246 shares37,716 
Flowserve CorporationCommon and Preferred Stock 632 shares36,353 
First Interstate BancSystemCommon and Preferred Stock 1,095 shares35,555 
Northwestern CorporationCommon and Preferred Stock 609 shares32,557 
ALLETE Inc.Common and Preferred Stock 499 shares32,335 
Monro Inc.Common and Preferred Stock 1,299 shares32,215 
WSFS Financial CorporationCommon and Preferred Stock 601 shares31,931 
Healthpeak OP, LLCCommon and Preferred Stock 1,531 shares31,033 
Mercury Systems Inc.Common and Preferred Stock 730 shares30,660 
Texas Capital Bancshares Inc.Common and Preferred Stock 392 shares30,654 
Americold Realty Trust, Inc.Common and Preferred Stock 1,402 shares30,003 
Amentum Holdings, Inc.Common and Preferred Stock 1,389 shares29,211 
NCR CorporationCommon and Preferred Stock 1,971 shares27,279 
Boston Properties Inc.Common and Preferred Stock 365 shares27,141 
Dyne Therapeutics, Inc.Common and Preferred Stock 1,128 shares26,576 
Patterson-UTI Energy Inc.Common and Preferred Stock 3,203 shares26,457 
1-800-FLOWERS.COM Inc. Class ACommon and Preferred Stock 3,075 shares25,123 
IPG Photonics CorporationCommon and Preferred Stock 340 shares24,725 
J2 Global Inc.Common and Preferred Stock 443 shares24,073 
Sonos Inc.Common and Preferred Stock 1,594 shares23,974 
Nevro CorporationCommon and Preferred Stock 6,419 shares23,879 
StandardAero, Inc.Common and Preferred Stock 958 shares23,720 
Rogers CorporationCommon and Preferred Stock 228 shares23,167 
Berkshire Hills Bancorp Inc.Common and Preferred Stock 807 shares22,943 
15



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Transmedics Group Inc.Common and Preferred Stock 338 shares21,074 
Mednax Inc.Common and Preferred Stock 1,508 shares19,785 
Nuvalent, Inc. Class ACommon and Preferred Stock 250 shares19,570 
Columbus McKinnon CorporationCommon and Preferred Stock 443 shares16,497 
Insight Enterprises, Inc.Common and Preferred Stock 108 shares16,427 
Designer Brands Inc. Class ACommon and Preferred Stock 2,990 shares15,967 
Herbalife Nutrition LimitedCommon and Preferred Stock 2,136 shares14,290 
eHealth Inc.Common and Preferred Stock 1,190 shares11,186 
Nu Skin Enterprises Inc. Class ACommon and Preferred Stock 1,211 shares8,344 
Safehold Inc.Common and Preferred Stock 435 shares8,039 
Total U.S. Equity Active Asset Class63,615,336 
U.S. Equity Index Asset Class:
NT Collective Russell 3000 Index Fund / Non Lending*Collective Trust Fund 1,899,107 units176,320,690 
NT Collective Short Term Investment Fund*Collective Trust Fund 25 units25 
Total U.S. Equity Index Asset Class176,320,715 
International Equity Active Asset Class:
Mawer International Equity Collective Investment Trust Class B*Collective Trust Fund 1,575,932 units27,927,716 
Polaris Capital Management Collective Investment Trust International Value Collective Fund*Collective Trust Fund 2,211,444 units26,838,086 
Reliance Trust Institutional Retirement Trust GQG Partners International Equity Fund Series 11 Class C*Collective Trust Fund 1,278,791 units20,371,142 
Dodge & Cox International Stock FundMutual Fund 324,627 shares16,198,902 
Wilmington Trust Collective Investment Trust / Jennison International Equity Opportunities CIT Class J*Collective Trust Fund 1,573,351 units15,746,099 
NT Collective MSCI All Country World Index (ACWI) ex/US Index Fund / Non Lending*Collective Trust Fund 47,044 units10,619,923 
NT Collective Short Term Investment Fund*Collective Trust Fund 3,996 units3,996 
Total International Equity Active Asset Class117,705,864 
International Equity Index Asset Class:
NT Collective MSCI All Country World Index (ACWI) ex/US Index Fund / Non Lending*Collective Trust Fund 123,364 units25,422,921 
Total International Equity Index Asset Class25,422,921 
Participant Self-Directed AccountsVarious Investments19,625,736 
19,625,736 
Notes Receivable from Participants*Interest Rate 4.25% - 9.50%17,220,197 
17,220,197 
Other
ML Vanguard Federal Money Market Forfeiture / Settlement*Cash and Cash Equivalents34,702 
BIF Money Fund*Cash and Cash Equivalents9,000 
NT Collective Short Term Investment Fund*Collective Trust Fund 2,031 units2,031 
Total Other45,733 
16



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Grand Total$779,230,400 
* Indicates party-in-interest

17


RETIREMENT AND SAVINGS PLAN FOR
AMGEN MANUFACTURING LIMITED LLC
INDEX TO EXHIBIT
 
18


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
 
   Retirement and Savings Plan for
 Amgen Manufacturing Limited LLC
 (Name of Plan)
Date:June 12, 2025 By: /s/ PETER H. GRIFFITH
   Peter H. Griffith
   Executive Vice President and Chief Financial Officer
Amgen Manufacturing Limited LLC
19