AMGN · 8-K · 20260804PR000124

Income Tax Rate Changes

AMGEN INC · 2026-08-04 · Importance 57 · Surprise 64 · In source text

GAAP income tax expense increased to $393 million from $136 million, while the GAAP tax rate rose 5.5 percentage points to 14.2%. The GAAP tax-rate increase was primarily driven by a change in earnings mix, including lower amortization expense from acquisition-related assets. Non-GAAP income tax expense increased to $632 million from $538 million, and the non-GAAP tax rate increased 1.4 percentage points to 15.6% because of earnings mix and net unfavorable current-year items.

Key facts

• GAAP tax rate increased 5.5 percentage points to 14.2% for the second quarter, primarily driven by the change in earnings mix, including lower amortization expense from acquisition-related assets. source
• On a non-GAAP basis, tax rate increased 1.4 percentage points for the second quarter to 15.6%, primarily driven by the change in earnings mix and net unfavorable items in the current-year period. source
• The known adjustments presented are net of related tax impact which amount to approximately $1.29 per share. source
• The tax rate of known adjustments discussed for the year ending December 31, 2026 is 0.5%. source
• The effective tax rate for the adjustments to Amgen's GAAP income before income taxes for the three months ended June 30, 2026 was 16.1%. source
• The effective tax rate for the adjustments to Amgen's GAAP income before income taxes for the six months ended June 30, 2026 was 15.7%. source
• The effective tax rate for the adjustments to Amgen's GAAP income before income taxes for the three months ended June 30, 2025 was 18.0%. source
• The effective tax rate for the adjustments to Amgen's GAAP income before income taxes for the six months ended June 30, 2025 was 18.4%. source

Impact estimates