EX-12.1 5 d919213dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

AMGEN INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

     Three Months
Ended
March 31,
    Years Ended December 31,  
     2015     2014     2013      2012      2011     2010  

Computation of Earnings:

              

Income before taxes

   $ 1,876      $ 5,585      $ 5,265       $ 5,009       $ 4,150      $ 5,317   

Net interest expense

     253        1,071        1,022         1,053         610        604   

Interest portion of operating lease expense

     12        47        47         45         49        50   

Equity in (earnings) losses of 50%-or-less owned companies accounted for under the equity method

     (10     (30     6         24         (47     (71
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Earnings

$ 2,131    $ 6,673    $ 6,340    $ 6,131    $ 4,762    $ 5,900   
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Computation of Fixed Charges:

Net interest expense

$ 253    $ 1,071    $ 1,022    $ 1,053    $ 610    $ 604   

Capitalized interest

  4      18      18      26      22      33   

Interest portion of operating lease expense

  12      47      47      45      49      50   
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Fixed Charges

$ 269    $ 1,136    $ 1,087    $ 1,124    $ 681    $ 687   
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Ratio of Earnings to Fixed Charges:

  7.9x      5.9x      5.8x      5.5x      7.0x      8.6x   

These computations include Amgen and its consolidated subsidiaries. For these ratios, “earnings” is computed by adding income before income taxes and fixed charges (excluding capitalized interest), excluding our share of income/losses in equity method affiliates. Fixed charges consist of (i) interest expense, which includes amortized premiums, discounts and capitalized expenses related to indebtedness, (ii) capitalized interest, (iii) a reasonable approximation of the interest factor deemed to be included in rental expense and (iv) preference security dividend requirements of consolidated subsidiaries, which were not material. Fixed charges exclude any interest related to unrecognized tax benefits, which is included in the provision for income taxes in our Consolidated Statements of Income.