AMGN · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
AMGEN INC · 2026-08-05 · Importance 69 · Surprise 50 · No source text
Cash and cash equivalents increased to $13.989 billion at June 30, 2026 from $9.129 billion at December 31, 2025. Total debt was $57.304 billion, consisting of $5.445 billion of current debt and $51.859 billion of long-term debt, compared with $54.604 billion at year-end 2025. Amgen issued $4.0 billion of long-term debt during the first six months, repaid $833 million of euro-denominated notes, and repurchased $324 million of debt for a $90 million extinguishment gain. The company extended its $4.0 billion unsecured revolving credit facility to March 2029, had no borrowings under it at June 30, 2026, and remained compliant with applicable debt covenants.
Key facts
- During the six months ended June 30, 2026, we repaid the €750 million aggregate principal amount of our 2.00% 2026 euro Notes ($833 million upon settlement of the related cross-currency swap), compared to $3.5 billion of debt repayments during the six months ended June 30, 2025. source
- During the six months ended June 30, 2026, we issued $4.0 billion of debt consisting of $1.0 billion of the 4.20% 2031 Notes and $1.75 billion of the 4.85% 2036 Notes (plus other tranches) source
- Cash and cash equivalents were $13,989 million as of June 30, 2026 and $9,129 million as of December 31, 2025. source
- During the six months ended June 30, 2026, we issued $4.0 billion of debt consisting of $1.0 billion of the 4.20% 2031 Notes, $1.75 billion of the 4.85% 2036 Notes, $500 million of the 5.50% 2046 Notes and $750 million of the 5.65% 2056 Notes. source
- In the first quarter of 2026, we extended the term of our $4.0 billion syndicated, unsecured, revolving credit facility by one year to March 2029 and as of June 30, 2026 and December 31, 2025, no amounts were outstanding under this facility. source
- During the six months ended June 30, 2026 and 2025, we repurchased aggregate principal amounts of our debt of $324 million and $832 million, respectively, for aggregate costs of $233 million and $602 million, respectively, which resulted in the recognition of gains on extinguishment of debt of $90 million and $228 million respectively. source
- Total assets were $95,639 million as of June 30, 2026 and $90,586 million as of December 31, 2025. source
- Stockholders' equity was $11,688 million as of June 30, 2026 and $8,658 million as of December 31, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +5.3% | Total assets were $95,639 million as of June 30, 2026 and $90,586 million as of December 31, 2025. |
| cash | positive | realized | +5.1% | Cash and cash equivalents were $13,989 million as of June 30, 2026 and $9,129 million as of December 31, 2025. |
| liability | negative | realized | -4.2% | During the six months ended June 30, 2026, we issued $4.0 billion of debt consisting of $1.0 billion of the 4.20% 2031 Notes, $1.75… |
| cash | positive | realized | +4.1% | Net proceeds from issuance of debt during six months ended June 30, 2026: $3,964 million |
| cash | negative | realized | -2.8% | Cash used in financing activities during the six months ended June 30, 2026 was primarily due to the payment of dividends of $2.7 billion… |
| liability | negative | realized | -2.8% | Carrying values of fixed-rate debt as of June 30, 2026: $55.5 billion; as of December 31, 2025: $52.8 billion. |
| liability | negative | realized | -1.9% | Long-term debt was $51,859 million as of June 30, 2026 and $50,005 million as of December 31, 2025. |
| net_income | positive | realized | +0.9% | During the six months ended June 30, 2026 and 2025, we repurchased aggregate principal amounts of our debt of $324 million and $832… |
| liability | negative | realized | -0.9% | Current portion of long-term debt was $5,445 million as of June 30, 2026 and $4,599 million as of December 31, 2025. |
| liability | positive | realized | +0.9% | During the six months ended June 30, 2026, we repaid the €750 million aggregate principal amount of our 2.00% 2026 euro Notes ($833… |
| cash | negative | realized | -0.9% | During the six months ended June 30, 2026, we repaid the €750 million aggregate principal amount of our 2.00% 2026 euro Notes ($833… |
| liability | negative | realized | -0.9% | Carrying amount of long-term debt recorded in Condensed Consolidated Balance Sheets as of June 30, 2026: $5,934 million; as of December… |