XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.21.2

Derivative instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional amounts and interest rates for cross-currency swaps | The notional amounts and interest rates of our cross-currency swaps as of September 30, 2021, were as follows (notional amounts in millions):
|  | Foreign currency |  | U.S. dollars
Hedged notes |  | Notional amounts |  | Interest rates |  | Notional amounts |  | Interest rates
1.25% 2022 euro Notes |  | € | 1,250 |  |  | 1.3 | % |  | $ | 1,388 |  |  | 3.2 | %
0.41% 2023 Swiss franc Bonds |  | CHF | 700 |  |  | 0.4 | % |  | $ | 704 |  |  | 3.4 | %
2.00% 2026 euro Notes |  | € | 750 |  |  | 2.0 | % |  | $ | 833 |  |  | 3.9 | %
5.50% 2026 pound sterling Notes |  | £ | 475 |  |  | 5.5 | % |  | $ | 747 |  |  | 6.0 | %
4.00% 2029 pound sterling Notes |  | £ | 700 |  |  | 4.0 | % |  | $ | 1,111 |  |  | 4.5 | %
Unrealized gain (loss) recognized in Other Comprehensive Income for our derivative instruments designated as cash flow hedges | The unrealized gains and losses recognized in AOCI for our derivative instruments designated as cash flow hedges were as follows (in millions):
|  | Three months ended September 30, |  | Nine months ended September 30,
Derivatives in cash flow hedging relationships |  | 2021 |  | 2020 |  | 2021 |  | 2020
Foreign currency contracts |  | $ | 136 |  |  | $ | (163) |  |  | $ | 273 |  |  | $ | (25) |
Cross-currency swap contracts |  | (120) |  |  | 223 |  |  | (180) |  |  | (107) |
Total unrealized gains (losses) |  | $ | 16 |  |  | $ | 60 |  |  | $ | 93 |  |  | $ | (132) |
Derivatives in fair value hedging relationships | The hedged liabilities and related cumulative-basis adjustments for fair value hedges of those liabilities were recorded in the Condensed Consolidated Balance Sheets as follows (in millions):
|  | Carrying amounts of hedged liabilities(1) |  | Cumulative amounts of fair value hedging adjustments related to the carrying amounts of the hedged liabilities(2)
Condensed Consolidated Balance Sheets locations |  | September 30, 2021 |  | December 31, 2020 |  | September 30, 2021 |  | December 31, 2020
Current portion of long-term debt |  | $ | 840 |  |  | $ | 89 |  |  | $ | 90 |  |  | $ | 89 |
Long-term debt |  | $ | 6,809 |  |  | $ | 6,258 |  |  | $ | 281 |  |  | $ | 477 |
____________ (1) Current portion of long-term debt includes $87 million and $89 million of carrying value with discontinued hedging relationships as of September 30, 2021 and December 31, 2020, respectively. Long-term debt includes $460 million and $525 million of carrying value with discontinued hedging relationships as of September 30, 2021 and December 31, 2020, respectively. (2) Current portion of long-term debt includes $87 million and $89 million of hedging adjustments on discontinued hedging relationships as of September 30, 2021 and December 31, 2020, respectively. Long-term debt includes $360 million and $425 million of hedging adjustments on discontinued hedging relationships as of September 30, 2021 and December 31, 2020, respectively.
Summary of amounts of income and expense line items | The following tables summarize the amounts recorded in income and expense line items and the effects thereon from fair value and cash flow hedging, including discontinued hedging relationships (in millions):
|  | Three months ended September 30, 2021 |  | Nine months ended September 30, 2021
|  | Product sales |  | Other income, net |  | Interest expense, net |  | Product sales |  | Other income, net |  | Interest expense, net
Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income |  | $ | 6,320 |  |  | $ | 73 |  |  | $ | (296) |  |  | $ | 18,026 |  |  | $ | 97 |  |  | $ | (862) |
The effects of cash flow and fair value hedging: |  |  |  |  |  |  |  |  |  |  |  |
Losses on cash flow hedging relationships reclassified out of AOCI: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts |  | $ | (5) |  |  | $ | — |  |  | $ | — |  |  | $ | (24) |  |  | $ | — |  |  | $ | — |
Cross-currency swap contracts |  | $ | — |  |  | $ | (104) |  |  | $ | — |  |  | $ | — |  |  | $ | (190) |  |  | $ | — |
Gains (losses) on fair value hedging relationships—interest rate swap agreements: |  |  |  |  |  |  |  |  |  |  |  |
Hedged items(1) |  | $ | — |  |  | $ | — |  |  | $ | 54 |  |  | $ | — |  |  | $ | — |  |  | $ | 195 |
Derivatives designated as hedging instruments |  | $ | — |  |  | $ | — |  |  | $ | (31) |  |  | $ | — |  |  | $ | — |  |  | $ | (128) |
|  | Three months ended September 30, 2020 |  | Nine months ended September 30, 2020
|  | Product sales |  | Other income, net |  | Interest expense, net |  | Product sales |  | Other income, net |  | Interest expense, net
Total amounts recorded in income and (expense) line items presented in the Condensed Consolidated Statements of Income |  | $ | 6,104 |  |  | $ | 55 |  |  | $ | (302) |  |  | $ | 17,906 |  |  | $ | 69 |  |  | $ | (944) |
The effects of cash flow and fair value hedging: |  |  |  |  |  |  |  |  |  |  |  |
Gains on cash flow hedging relationships reclassified out of AOCI: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts |  | $ | 41 |  |  | $ | — |  |  | $ | — |  |  | $ | 158 |  |  | $ | — |  |  | $ | — |
Cross-currency swap contracts |  | $ | — |  |  | $ | 183 |  |  | $ | — |  |  | $ | — |  |  | $ | 101 |  |  | $ | — |
Gains (losses) on fair value hedging relationships—interest rate swap agreements: |  |  |  |  |  |  |  |  |  |  |  |
Hedged items(1) |  | $ | — |  |  | $ | — |  |  | $ | 35 |  |  | $ | — |  |  | $ | — |  |  | $ | 215 |
Derivatives designated as hedging instruments |  | $ | — |  |  | $ | — |  |  | $ | (13) |  |  | $ | — |  |  | $ | — |  |  | $ | (150) |
__________ (1) Gains on hedged items do not exactly offset losses on the related designated hedging instruments due to amortization of the cumulative amounts of fair value hedging adjustments included in the carrying amount of the hedged debt for discontinued hedging relationships and the recognition of gains on terminated hedges when the corresponding hedged item was paid down in the period.
Fair values of derivatives included in the Condensed Consolidated Balance Sheets | The fair values of derivatives included in the Condensed Consolidated Balance Sheets were as follows (in millions):
|  | Derivative assets |  | Derivative liabilities
September 30, 2021 |  | Condensed Consolidated Balance Sheets locations |  | Fair values |  | Condensed Consolidated Balance Sheets locations |  | Fair values
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign currency contracts |  | Other current assets/ Other noncurrent assets |  | $ | 127 |  |  | Accrued liabilities/ Other noncurrent liabilities |  | $ | 54 |
Cross-currency swap contracts |  | Other current assets/ Other noncurrent assets |  | 119 |  |  | Accrued liabilities/ Other noncurrent liabilities |  | 360 |
Interest rate swap contracts |  | Other current assets/ Other noncurrent assets |  | 29 |  |  | Accrued liabilities/ Other noncurrent liabilities |  | 105 |
Total derivatives designated as hedging instruments |  |  |  | $ | 275 |  |  |  |  | $ | 519 |
|  | Derivative assets |  | Derivative liabilities
December 31, 2020 |  | Condensed Consolidated Balance Sheets locations |  | Fair values |  | Condensed Consolidated Balance Sheets locations |  | Fair values
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign currency contracts |  | Other current assets/ Other noncurrent assets |  | $ | 28 |  |  | Accrued liabilities/ Other noncurrent liabilities |  | $ | 237 |
Cross-currency swap contracts |  | Other current assets/ Other noncurrent assets |  | 255 |  |  | Accrued liabilities/ Other noncurrent liabilities |  | 318 |
Interest rate swap contracts |  | Other current assets/ Other noncurrent assets |  | 66 |  |  | Accrued liabilities/ Other noncurrent liabilities |  | 15 |
Total derivatives designated as hedging instruments |  |  |  | $ | 349 |  |  |  |  | $ | 570 |

X
- Definition Schedule of Notional Amounts and Interest Rates for Cross-Currency Swaps + References No definition available. + Details
Name: | amgn_ScheduleOfNotionalAmountsAndInterestRatesForCrossCurrencySwapsTableTextBlock
Namespace Prefix: | amgn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration