AMGN · 8-K · 20261103PR000153

Income Tax Rate Changes

AMGEN INC · 2026-11-03 · Importance 18 · Surprise 14

The third-quarter GAAP tax rate decreased 0.5 percentage points year over year to 17.5%, while the non-GAAP rate decreased 2.3 points to 15.9%. The company attributed the GAAP decrease primarily to the change in earnings mix, including lower net unrealized gains on equity investments, partly offset by net favorable items in the prior year. The non-GAAP rate decrease was primarily driven by the change in earnings mix. GAAP income tax provision increased to $822 million from $705 million despite the lower rate.

Key facts

• Q3 2026 GAAP income tax provision was $822 million and non-GAAP provision was $667 million. source
• Amgen's non-GAAP tax rate decreased 2.3 percentage points in Q3 2026, primarily due to the change in earnings mix. source
• Amgen's GAAP tax rate decreased 0.5 percentage points in Q3 2026, primarily due to earnings mix, including lower net unrealized equity investment gains, partly offset by net favorable prior-year items. source