filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
| Years ended December 31, | |||||||||||||||||||||||||||||
| Consolidated Statements of Income Data: | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||
| (In millions, except per-share data) | |||||||||||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||||||||
| Product sales | $ | 24,240 | $ | 22,204 | $ | 22,533 | $ | 21,795 | $ | 21,892 | |||||||||||||||||||
| Other revenues | 1,184 | 1,158 | 1,214 | 1,054 | 1,099 | ||||||||||||||||||||||||
| Total revenues | $ | 25,424 | $ | 23,362 | $ | 23,747 | $ | 22,849 | $ | 22,991 | |||||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||||||||
| Cost of sales | $ | 6,159 | $ | 4,356 | $ | 4,101 | $ | 4,069 | $ | 4,162 | |||||||||||||||||||
| Research and development | $ | 4,207 | $ | 4,116 | $ | 3,737 | $ | 3,562 | $ | 3,840 | |||||||||||||||||||
| Selling, general and administrative | $ | 5,730 | $ | 5,150 | $ | 5,332 | $ | 4,870 | $ | 5,062 | |||||||||||||||||||
| Net income(1) | $ | 7,264 | $ | 7,842 | $ | 8,394 | $ | 1,979 | $ | 7,722 | |||||||||||||||||||
| Diluted earnings per share(1) | $ | 12.31 | $ | 12.88 | $ | 12.62 | $ | 2.69 | $ | 10.24 | |||||||||||||||||||
| Dividends paid per share | $ | 6.40 | $ | 5.80 | $ | 5.28 | $ | 4.60 | $ | 4.00 | |||||||||||||||||||
| As of December 31, | |||||||||||||||||||||||||||||
| Consolidated Balance Sheets Data: | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||
| (In millions) | |||||||||||||||||||||||||||||
| Total assets | $ | 62,948 | $ | 59,707 | $ | 66,416 | $ | 79,954 | $ | 77,626 | |||||||||||||||||||
| Total debt(2) | $ | 32,986 | $ | 29,903 | $ | 33,929 | $ | 35,342 | $ | 34,596 | |||||||||||||||||||
| Total stockholders’ equity(3) | $ | 9,409 | $ | 9,673 | $ | 12,500 | $ | 25,241 | $ | 29,875 |
(1) In 2017, we recorded a net charge of $6.1 billion as a result of the 2017 Tax Act.
(2) See Part IV—Note 15, Financing arrangements, to the Consolidated Financial Statements, for discussion of our financing arrangements in 2020, 2019 and 2018. In 2017, we issued $4.5 billion of debt and repaid $4.4 billion of debt. In 2016, we issued $7.3 billion of debt and repaid $3.7 billion of debt.
(3) Throughout the five years ended December 31, 2020, we had a stock repurchase program authorized by the Board of Directors, through which we repurchased $3.5 billion, $7.6 billion, $17.9 billion, $3.1 billion and $3.0 billion, respectively, of Amgen common stock.
In addition to the above notes, see Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, Part IV—Consolidated Financial Statements and accompanying notes as well as previously filed Annual Reports on Form 10-K for further information regarding our consolidated results of operations and financial position for periods reported therein and for known factors that will affect the comparability of future results. Also see Part IV—Note 16, Stockholders’ equity, to the Consolidated Financial Statements, for information regarding cash dividends declared per share of common stock for each of the four quarters of 2020, 2019 and 2018. In addition, our Board of Directors declared dividends per share of $1.15 and $1.00, which were paid in each of the four quarters of 2017 and 2016, respectively.
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