11-K 1 a2023puertoricoplan11-k.htm 2023 PUERTO RICO PLAN 11-K Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 11-K
(Mark One)
 ýANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2023
OR
 
 ¨TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 001-37702
THE RETIREMENT AND SAVINGS PLAN FOR
AMGEN MANUFACTURING LIMITED LLC
State Road 31, Kilometer 24.6, Juncos, Puerto Rico 00777
(Full title and address of the plan)
AMGEN INC.
(Name of issuer of the securities held)
 
One Amgen Center Drive, 91320-1799
Thousand Oaks, California (Zip Code)
(Address of principal executive offices) 





The Retirement and Savings Plan for
Amgen Manufacturing Limited LLC

Audited Financial Statements
and Supplemental Schedule
Year Ended December 31, 2023

Contents
 




Report of Independent Registered Public Accounting Firm

To the Plan Participants and the Plan Administrator of The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of The Retirement and Savings Plan for Amgen Manufacturing Limited LLC (formerly known as The Retirement and Savings Plan for Amgen Manufacturing, Limited) (the Plan) as of December 31, 2023 and 2022, and the related statement of changes in net assets available for benefits for the year ended December 31, 2023, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2023 and 2022, and the changes in its net assets available for benefits for the year ended December 31, 2023, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Schedule Required by ERISA
The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2023, (referred to as the “supplemental schedule”), has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ ERNST & YOUNG LLP
We have served as the Plan’s auditor since 1992.
Los Angeles, California
June 20, 2024
1



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Statements of Net Assets Available for Benefits

 December 31,
 20232022
Assets
Investments at fair value$702,634,440 $595,003,942 
Notes receivable from participants16,846,516 16,068,774 
Other – principally due from broker713,083 395,402 
Total assets720,194,039 611,468,118 
Liabilities
Other – principally due to broker634,863 462,064 
Total liabilities634,863 462,064 
Net assets available for benefits$719,559,176 $611,006,054 
See accompanying notes.
2



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Statement of Changes in Net Assets Available for Benefits

 Year Ended December 31,
 2023
Additions to (deductions from) net assets:
Employer contributions$20,198,444 
Participant contributions18,858,531 
Rollover contributions1,281,640 
Interest and dividend income5,505,448 
Net realized/unrealized gains87,093,685 
Interest income on notes receivable from participants905,874 
Benefits paid(24,517,843)
Investment and administrative fees(772,657)
Net increase108,553,122 
Net assets available for benefits at beginning of year611,006,054 
Net assets available for benefits at end of year$719,559,176 
See accompanying notes.
3



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements
December 31, 2023

1. Description of the Plan
The following is a description of The Retirement and Savings Plan for Amgen Manufacturing Limited LLC (the Plan). Effective May 1, 2024, the Plan (formerly known as The Retirement and Savings Plan for Amgen Manufacturing, Limited) was amended solely to reflect that, as a result of an internal organizational restructuring that had no substantive impact on participants or Plan assets, the Plan sponsor is now Amgen Manufacturing Limited LLC (the successor entity to Amgen Manufacturing, Limited). The description below provides only general information, and accordingly, participants should refer to the Plan document for a more complete description of the Plan’s provisions.
General
The Plan was established effective May 1, 1992, and was amended and restated effective January 1, 2017, and subsequently amended, with the most recent amendment adopted on June 7, 2024. The Plan is a defined contribution plan covering substantially all Puerto Rico resident employees of Amgen Manufacturing Limited LLC (the Company), a wholly owned subsidiary of Amgen Inc. (Amgen). The Plan is intended to qualify under Section 1081.01 of the Puerto Rico Internal Revenue Code of 2011, as amended (the PR Code) (see Note 4, Income Tax Status) and section 407(d)(3)(A) of the Employee Retirement Income Security Act of 1974 (ERISA).
Contributions
Subject to certain limitations (as defined in the Plan), participants may elect to contribute up to 30% of their eligible compensation in pre-tax contributions and after-tax contributions or a combination of these types of contributions (together, Individual Contributions). A participant’s pre-tax contributions are subject to the PR Code and Plan limitations and could not exceed $15,000 in 2023. Participants may elect to contribute after-tax contributions beginning January 1 of the year following the year the participant was hired. Participant after-tax contributions are subject to the PR Code and Plan limitations and could not exceed $1,500 in 2023. Unless an employee has voluntarily enrolled in the Plan or has declined to participate in the Plan within the first 30 days of employment, all newly eligible participants are automatically enrolled in the Plan, and contributions equal to 5% of their eligible compensation are withheld and contributed to the Plan as pre-tax contributions; such contributions are automatically increased by 1% per year until their contributions reach 10% of their eligible compensation. Participants may elect to adjust, cease or resume their Individual Contributions at any time.
Participants who are at least age 50 by the close of the Plan year may also elect to make certain additional pre-tax Individual Contributions, referred to as catch-up contributions, that are subject to the PR Code and Plan limitations and could not exceed $1,500 in 2023. Participants may also contribute pre-tax and after-tax amounts representing distributions from certain other retirement plans qualified in Puerto Rico, referred to as rollover contributions (as defined in the Plan).
Each pay period, the Company makes a non-elective contribution for all eligible participants, whether or not they have elected to make Individual Contributions to the Plan, equal to 4% of each participant’s eligible compensation up to a maximum of $13,200 in 2023 (Core Contributions). In addition, the Company makes a contribution equal to amounts contributed by the participant as pre-tax contributions, including catch-up contributions, of up to 5% of eligible compensation (Matching Contributions). Matching Contributions could not exceed $15,000 in 2023.
Participants select the investments in which their Individual Contributions, including their Core Contributions and Matching Contributions (collectively, Company Contributions), are to be invested, electing among various alternatives, including Amgen common stock (Amgen stock). Participants may direct a maximum of 20% of contributions to be invested in Amgen stock. In addition, participants may transfer amounts among the investment options at any time, subject to certain limitations. Notwithstanding the foregoing, if 20% or more of the value of a participant’s Plan account is invested in Amgen stock, the Plan document provides that no transfers from other investment options can be made to invest in Amgen stock.
The accounts of participants who had never made an investment election are allocated to investments under a qualified default investment alternative, which is intended to be compliant with ERISA regulations. At any time, participants may elect to alter the investments in their accounts made under a qualified default investment alternative.
4



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

Vesting
Participants are immediately vested with respect to their Individual Contributions and Matching Contributions and earnings and losses (hereafter referred to as earnings) thereon. Participants hired prior to January 1, 2020, are also immediately vested with respect to their Core Contributions and earnings thereon. Participants hired on or after January 1, 2020, vest in full with respect to their Core Contributions and earnings thereon after three years of service, as defined by the terms of the Plan, or upon reaching age 65 while employed by the Company, if earlier. If a participant ceases to be an employee before fully vesting in their account, the non-vested portion of the participant’s account will be treated as a forfeiture, as defined by the terms of the Plan, on the earlier of (a) the date the participant incurs a five-year break in service, as defined by the terms of the Plan or, (b) the date the participant receives a distribution of the entire vested portion of their account.
Participant Accounts
Each participant’s account is credited with: (a) the participant’s Individual Contributions; (b) an allocation of Company Contributions; and (c) earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.
Plan Investments
Plan participants can invest in seven different asset classes as well as Amgen stock or can actively manage their account under a self-directed brokerage arrangement in which a wider array of investment options are available. The value of an investment in an asset class is determined by its underlying investment vehicles, which may include one or more of the following: mutual funds, collective trust funds and portfolios, which are separately managed exclusively for the benefit of Plan participants and their beneficiaries (separately managed portfolios). The separately managed portfolios are composed primarily of investments in publicly traded common and preferred stocks. The asset classes are designed to provide participants with choices among a variety of investment objectives.
Payments of Benefits
Subject to Plan limitations, upon termination of employment, including termination due to disability (as defined in the Plan) or retirement, a participant may elect to receive a full or partial distribution of his or her account balance in: (a) a single payment in cash; (b) a single distribution in full shares of Amgen stock (with any fractional shares paid in cash); (c) a single distribution paid in a combination of cash and full shares of Amgen stock; or (d) a rollover distribution to an eligible retirement plan.
Participants may also elect to maintain their account balance in the Plan subsequent to termination of employment, provided that their account balance is greater than $1,000.
If a participant dies before receiving the value of his or her account balance, the participant’s beneficiary may elect to receive the distribution of remaining funds from among the alternatives described above, subject to certain Plan limitations.
No withdrawals may be made from the Plan while a participant continues to be employed by the Company except in certain circumstances including, but not limited to, financial hardship, disability and attainment of age 59 1/2.
Notes Receivable from Participants
Subject to certain restrictions, a participant can have up to two loans outstanding at any one time from his or her Plan account with a combined maximum loan amount that may not exceed the lesser of: (a) 50% of the participant’s account balance or (b) $50,000 less certain adjustments, as applicable (as defined in the Plan). A participant’s loan is secured by his or her Plan account balance. Loans bear interest at fixed rates which, until changed by the Company, are based on the prime rate plus one percentage point as published in The Wall Street Journal, determined as of the last day of the calendar quarter preceding origination or such other rate as may be required by law. Loans are generally payable in installments over periods ranging from one to five years, unless the loan is used to acquire a principal residence for which the term of the loan may be up to 20 years. Principal and interest payments are allocated to the participant’s account.


5



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to terminate the Plan subject to the provisions of ERISA. Upon termination, participants would become fully vested in Core Contributions and receive distributions of their account balances.
Trustee and Custodians
Banco Popular de Puerto Rico is the Plan’s trustee. Bank of America, N.A. is the Plan’s custodian with respect to the self-directed brokerage arrangement and the Amgen common stock fund. Northern Trust Company, NA (Northern) is the Plan’s custodian with respect to the asset classes.
2. Summary of Significant Accounting Policies
Basis of Accounting
The accompanying financial statements are prepared on the accrual basis of accounting. Benefits to participants are recorded when paid.
Fair Value Measurement
The investments of the Plan are reported at fair value. Fair value is generally defined as the price that would be received to sell an asset or paid to transfer a liability (the exit price) in an orderly transaction between market participants at the measurement date (see Note 3, Fair Value Measurements).
Investment Income and Losses
Dividend income is recognized on the ex-dividend date, and interest income is recorded on an accrual basis. Unrealized gains and losses on investments are measured by the change in the difference between the fair value and cost of the securities held at the beginning of the year (or date purchased if acquired during the Plan year) and the end of the year. Realized gains and losses from security transactions are recorded based on the weighted-average cost of securities sold.
Notes Receivable from Participants
Notes receivable from participants are carried at their unpaid balance plus accrued but unpaid interest, as applicable.
Due from/to Brokers
Purchases and sales of investments are recorded on a trade-date basis. Amounts due from and due to brokers arise from unsettled sale and purchase transactions, respectively.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Risks and Uncertainties
The Plan provides for investment options representing varied combinations of equities (including Amgen stock), fixed income, and other investments. Investments, in general, particularly in securities, are exposed to various risks, such as interest rate, inflation, market and credit risks, among others. Market risk includes global events which could impact the value of investments, including securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investments, including securities, it is at least reasonably possible that changes in the values of the Plan’s investments, including securities, will occur in the near term and that such changes could materially affect participant account balances and the amounts reported in the Plan’s financial statements.
6



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

3. Fair Value Measurements
The Plan uses various valuation approaches in determining the fair value of investments within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the investment based on market data obtained from independent sources. Unobservable inputs are inputs that reflect assumptions about the inputs that market participants would use in pricing the investment and are developed based on the best information available in the circumstances. The fair value hierarchy is divided into three levels based on the source of inputs as follows:
Level 1 – Valuations based on unadjusted quoted prices in active markets for identical investments that the Plan has the ability to access;
Level 2 – Valuations for which all significant inputs are observable, either directly or indirectly, other than Level 1 inputs;
Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.
The availability of observable inputs can vary among the various types of investments. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used for measuring fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level of input used that is significant to the overall fair value measurement.
The following fair value hierarchy tables present information about each major class/category of the Plan’s investments measured at fair value:
 
Fair value measurements at December 31, 2023, using
 Quoted prices
in active
markets for
identical
assets
(Level 1)
Significant
other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Total
Amgen stock$113,016,422 $— $— $113,016,422 
Cash and cash equivalents30,340 — — 30,340 
Collective trust funds— 492,330,408 — 492,330,408 
Common and preferred stock73,030,315 — — 73,030,315 
Mutual funds10,787,733 — — 10,787,733 
Self-directed brokerage accounts13,439,222 — — 13,439,222 
Total investments at fair value$210,304,032 $492,330,408 $— $702,634,440 
 
7



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

 
Fair value measurements at December 31, 2022, using
 Quoted prices
in  active
markets  for
identical
assets
(Level 1)
Significant
other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Total
Amgen stock$103,662,409 $— $— $103,662,409 
Cash and cash equivalents200,285 — — 200,285 
Collective trust funds— 372,729,128 — 372,729,128 
Common and preferred stocks101,755,093 — — 101,755,093 
Mutual funds8,345,597 — — 8,345,597 
Self-directed brokerage accounts8,311,430 — — 8,311,430 
Total investments at fair value$222,274,814 $372,729,128 $— $595,003,942 
The fair values of substantially all common stocks (including Amgen stock), preferred stocks, mutual funds and underlying investments of self-directed brokerage accounts are valued using quoted market prices in active markets with no valuation adjustment.
Collective trust funds represent interests in pooled investment vehicles designed typically for collective investment of employee benefit trusts. The fair values of these investments are determined by reference to the net asset value per unit provided by the fund managers as the basis for current transactions.
4. Income Tax Status
The Plan received an opinion letter from the Puerto Rico Treasury Department (PRTD) dated February 26, 2018, with an effective date of January 1, 2017, stating that the Plan meets the requirements of Section 1081.01 of the PR Code and the regulations thereunder, and, therefore the related trust forming part of the Plan is exempt from taxation. Subsequently, seven amendments were made to the Plan, and the Plan received letters from the PRTD stating the PRTD has no objection to the first five of these amendments. The Company has submitted the sixth amendment and will submit the seventh amendment to the PRTD requesting an opinion that the Plan remains in compliance with the PR Code and regulations thereunder. Once qualified, the Plan is required to operate in conformity with the PR Code to maintain its qualification.
For taxable year 2023, the Company believes the Plan satisfied, and operated in compliance with, the applicable requirements of the PR Code and therefore believes that the Plan, as amended, is qualified and the related trust is tax exempt. The Company has indicated that it currently intends to continue to take the necessary steps, if any, to maintain the Plan’s compliance with the applicable requirements of the PR Code.
5. Party-in-Interest Transactions
Parties-in-interest are certain entities defined under Department of Labor regulations, including Amgen, and other parties that provide services to the Plan, such as the trustees, custodians and investment managers. The Plan pays the custodians certain administrative and investment management fees, and the Company pays certain administrative fees on behalf of the Plan. The Plan invests in collective trust funds managed by Northern, certain of the Plan’s investment managers and other third parties and may invest in securities of entities that are parties-in-interest. The Plan also invests in shares of common stock of Amgen and receives dividends on those shares. Notes receivable from participants are also considered party-in-interest transactions.
8



The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
Notes to Financial Statements (continued)

6. Reconciliation of Financial Statements to the Form 5500
The reconciliation of net assets available for benefits per the financial statements to the Form 5500 consisted of the following:
 December 31,
 20232022
Net assets available for benefits per the financial statements$719,559,176 $611,006,054 
Amounts allocated to withdrawing participants(27,778)— 
Deemed loans(850,054)(753,247)
Net assets per the Form 5500$718,681,344 $610,252,807 
The following is a reconciliation of expenses per the financial statements to the Form 5500:
 Year Ended December 31, 2023
Benefits paid$(24,517,843)
Investment and administrative fees(772,657)
Total expenses per the financial statements(25,290,500)
Amounts allocated to withdrawing participants at December 31, 2023
(27,778)
Deemed loans at December 31, 2022
753,247 
Deemed loans at December 31, 2023
(850,054)
Total expenses per the Form 5500$(25,415,085)
9


Supplemental Schedule
The Retirement and Savings Plan for Amgen Manufacturing Limited LLC
EIN: 98-0210484 Plan: #001
As of December 31, 2023
Schedule H, line 4i – Schedule of Assets (Held at End of Year)
Identity of IssueDescription of InvestmentCurrent Value
Amgen Stock*Employer Securities 392,391 shares$113,016,422 
$113,016,422 
Capital Preservation Asset Class:
Galliard Stable Return Fund W*Collective Trust Fund 1,276,224 units80,046,397 
NT Collective Short Term Investment Fund*Collective Trust Fund 4,536,970 units4,536,970 
Total Capital Preservation Asset Class84,583,367 
Fixed Income Active Asset Class:
Wellington Core Bond Plus Portfolio Collective Investment Trust II*Collective Trust Fund 682,917 units7,757,939 
MetLife Core Plus Collective Fund*Collective Trust Fund 777,815 units7,669,252 
Schroder Global Strategic Bond Trust Class W*Collective Trust Fund 263,087 units2,778,201 
Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund - Non Lending*Collective Trust Fund 13,105 units1,943,854 
NT Collective Short Term Investment Fund*Collective Trust Fund 22,839 units22,839 
Total Fixed Income Active Asset Class20,172,085 
Fixed Income Index Asset Class:
Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund - Non Lending*Collective Trust Fund 844,716 units125,296,665 
NT Collective Short Term Investment Fund*Collective Trust Fund 5 units
Total Fixed Income Index Asset Class125,296,670 
U.S. Equity Active Asset Class:
Northern Trust Collective Russell 1000 Value Index Fund - Non Lending*Collective Trust Fund 28,376 units15,824,900 
NT Collective Russell 3000 Index Fund / Non Lending*Collective Trust Fund 54,968 units4,122,651 
Amazon Inc.Common and Preferred Stock 13,598 shares2,066,080 
Microsoft CorporationCommon and Preferred Stock 5,476 shares2,059,195 
Visa Inc. Class A Common and Preferred Stock 5,481 shares1,426,978 
ServiceNow Inc.Common and Preferred Stock 1,967 shares1,389,666 
NT Collective Short Term Investment Fund*Collective Trust Fund 1,369,958 units1,369,958 
Nvidia CorporationCommon and Preferred Stock 2,207 shares1,092,951 
Netflix, Inc.Common and Preferred Stock 1,941 shares945,034 
Dexcom Inc.Common and Preferred Stock 6,699 shares831,279 
UnitedHealth Group Inc.Common and Preferred Stock 1,534 shares807,605 
S&P Global IncCommon and Preferred Stock 1,696 shares747,122 
Danaher CorporationCommon and Preferred Stock 3,199 shares740,057 
SS&C Technologies Holdings Inc.Common and Preferred Stock 11,962 shares730,998 
Citigroup Inc.Common and Preferred Stock 13,778 shares708,740 
Dow Inc.Common and Preferred Stock 12,299 shares674,477 
Canadian Pacific Kansas City LimitedCommon and Preferred Stock 8,313 shares657,226 
10



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Intuit Inc.Common and Preferred Stock 1,013 shares633,155 
Ecolab, Inc.Common and Preferred Stock 3,187 shares632,141 
Wells Fargo & Company*Common and Preferred Stock 12,417 shares611,165 
Facebook Inc.Common and Preferred Stock 1,707 shares604,210 
Equinix Inc.Common and Preferred Stock 747 shares601,626 
Workday Inc. Class ACommon and Preferred Stock 2,166 shares597,946 
Autodesk Inc.Common and Preferred Stock 2,453 shares597,256 
MSCI Inc.Common and Preferred Stock 1,052 shares595,064 
Baxter International Inc.Common and Preferred Stock 15,301 shares591,537 
Yum! Brands Inc.Common and Preferred Stock 4,523 shares590,975 
Thermo Fisher CorporationCommon and Preferred Stock 1,084 shares575,376 
Snowflake Inc. Class ACommon and Preferred Stock 2,861 shares569,339 
Capital One Financial CorporationCommon and Preferred Stock 4,311 shares565,258 
Aon PLCCommon and Preferred Stock 1,888 shares549,446 
Alphabet Inc. Class CCommon and Preferred Stock 3,895 shares548,922 
Novo Nordisk A/SCommon and Preferred Stock 5,216 shares539,595 
MetLife Inc.*Common and Preferred Stock 8,145 shares538,629 
STERIS plcCommon and Preferred Stock 2,399 shares527,420 
Salesforce.com Inc. Common and Preferred Stock 1,989 shares523,385 
Block, Inc.Common and Preferred Stock 6,684 shares517,007 
Euronet Worldwide Inc.Common and Preferred Stock 4,922 shares499,534 
Atlassian CorporationCommon and Preferred Stock 2,065 shares491,181 
Cognizant Technology Solutions Corporation Class ACommon and Preferred Stock 6,494 shares490,492 
Lear CorporationCommon and Preferred Stock 3,444 shares486,327 
Starbucks Corporation Common and Preferred Stock 4,988 shares478,898 
Clean Harbors Inc.Common and Preferred Stock 2,728 shares476,063 
American Express CompanyCommon and Preferred Stock 2,539 shares475,656 
Ball CorporationCommon and Preferred Stock 8,244 shares474,195 
Magna International Inc.Common and Preferred Stock 8,018 shares473,703 
Sherwin-Williams CompanyCommon and Preferred Stock 1,514 shares472,217 
Datadog Inc.Common and Preferred Stock 3,856 shares468,041 
RB Global Inc.Common and Preferred Stock 6,905 shares461,875 
Iqvia Holdings Inc.Common and Preferred Stock 1,990 shares460,446 
Synopsys Inc.Common and Preferred Stock 868 shares446,942 
Alight Inc. Class ACommon and Preferred Stock 50,552 shares431,209 
Fresenius Medical CareCommon and Preferred Stock 20,697 shares431,119 
Bank of America Corporation*Common and Preferred Stock 12,730 shares428,619 
FleetCor Technologies Inc.Common and Preferred Stock 1,516 shares428,437 
Entegris Inc.Common and Preferred Stock 3,570 shares427,757 
Edison InternationalCommon and Preferred Stock 5,893 shares421,291 
Waste Connections Inc.Common and Preferred Stock 2,799 shares417,807 
Shopify IncCommon and Preferred Stock 5,315 shares414,039 
Merit Medical Systems Inc.Common and Preferred Stock 5,409 shares410,868 
Equitable Holdings Inc.Common and Preferred Stock 12,195 shares406,094 
J2 Global Inc.Common and Preferred Stock 5,974 shares401,393 
Sensata Technologies BV HoldingCommon and Preferred Stock 10,567 shares397,002 
Lam Resh CorporationCommon and Preferred Stock 503 shares393,980 
CarGurus Inc. Class ACommon and Preferred Stock 15,893 shares383,975 
Voya Financial Inc.Common and Preferred Stock 5,260 shares383,770 
JP Morgan Chase & CompanyCommon and Preferred Stock 2,241 shares381,194 
Charles River Laboratories International Inc.Common and Preferred Stock 1,607 shares379,895 
11



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Global Payments Inc.Common and Preferred Stock 2,920 shares370,840 
Ametek Inc.Common and Preferred Stock 2,249 shares370,838 
Trimble Inc.Common and Preferred Stock 6,810 shares362,292 
Uber Technologies Inc.Common and Preferred Stock 5,879 shares361,970 
Wabtec CorporationCommon and Preferred Stock 2,844 shares360,904 
Medtronic PLCCommon and Preferred Stock 4,361 shares359,259 
QuidelOrtho CorporationCommon and Preferred Stock 4,847 shares357,224 
Bio-Techne CorporationCommon and Preferred Stock 4,600 shares354,936 
Newell Brands Inc.Common and Preferred Stock 40,857 shares354,639 
Halozyme Therapeutics Inc.Common and Preferred Stock 9,559 shares353,301 
Charter Communications Inc.Common and Preferred Stock 900 shares349,812 
Amphenol Corporation Class ACommon and Preferred Stock 3,518 shares348,739 
Entegris Inc.Common and Preferred Stock 2,876 shares344,602 
Henry Schein Inc.Common and Preferred Stock 4,520 shares342,209 
Bristol Myers SquibbCommon and Preferred Stock 6,602 shares338,749 
BWX Technologies Inc.Common and Preferred Stock 4,374 shares335,617 
Shell plcCommon and Preferred Stock 5,076 shares334,001 
Matson Inc.Common and Preferred Stock 2,896 shares317,402 
PVH CorporationCommon and Preferred Stock 2,492 shares304,323 
Nu Holdings LimitedCommon and Preferred Stock 35,529 shares295,957 
Churchill Downs Inc.Common and Preferred Stock 2,173 shares293,203 
TE Connectivity LimitedCommon and Preferred Stock 2,068 shares290,554 
LKQ CorporationCommon and Preferred Stock 5,913 shares282,582 
Tyson Foods Inc.Common and Preferred Stock 5,227 shares280,951 
Goldman Sachs Group Inc.Common and Preferred Stock 723 shares278,912 
Walt Disney CompanyCommon and Preferred Stock 3,061 shares276,378 
Amdocs LimitedCommon and Preferred Stock 3,134 shares275,447 
Ingredion Inc.Common and Preferred Stock 2,525 shares274,038 
Gildan Activewear Inc.Common and Preferred Stock 8,279 shares273,704 
Okta Inc. Class ACommon and Preferred Stock 2,984 shares270,142 
ACV Auctions Inc. Class ACommon and Preferred Stock 17,732 shares268,640 
Edwards Lifesciences CorporationCommon and Preferred Stock 3,510 shares267,638 
DoorDash Inc. Class ACommon and Preferred Stock 2,694 shares266,410 
Heico Corporation Class ACommon and Preferred Stock 1,851 shares263,656 
Costar Group Inc. Common and Preferred Stock 3,001 shares262,257 
HealthEquity Inc.Common and Preferred Stock 3,929 shares260,493 
Cooper Companies Inc.Common and Preferred Stock 687 shares259,988 
NOV Inc.Common and Preferred Stock 12,448 shares252,445 
UBS Group AGCommon and Preferred Stock 7,993 shares246,984 
Brown & Brown Inc.Common and Preferred Stock 3,393 shares241,276 
Cabot CorporationCommon and Preferred Stock 2,864 shares239,144 
Cloudflare Inc.Common and Preferred Stock 2,845 shares236,875 
Teleflex Inc.Common and Preferred Stock 931 shares232,136 
GlobalFoundries Inc.Common and Preferred Stock 3,804 units230,522 
Huntington Bancshares Inc.Common and Preferred Stock 18,075 shares229,914 
Floor & Decor Holdings Inc.Common and Preferred Stock 2,025 shares225,909 
IDEX CorporationCommon and Preferred Stock 1,040 shares225,794 
Okta Inc.Common and Preferred Stock 2,488 shares225,239 
FTI Consulting Inc.Common and Preferred Stock 1,099 shares218,866 
AerCap Holdings N.V.Common and Preferred Stock 2,911 shares216,346 
Acadia Healthcare Company Inc.Common and Preferred Stock 2,734 shares212,596 
12



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
LPL Financial Holdings Inc.Common and Preferred Stock 928 shares211,231 
Generac Holdings Inc.Common and Preferred Stock 1,634 shares211,178 
MACOM Technology Solutions Holdings Inc.Common and Preferred Stock 2,270 shares210,997 
Gartner Inc.Common and Preferred Stock 463 shares208,864 
Kirby CorporationCommon and Preferred Stock 2,649 shares207,894 
Graphic Packaging Holding CompanyCommon and Preferred Stock 8,346 shares205,729 
American International Group Inc.*Common and Preferred Stock 3,029 shares205,215 
Cimpress plcCommon and Preferred Stock 2,558 shares204,768 
Dynatrace Inc.Common and Preferred Stock 3,731 shares204,048 
ZipRecruiter Inc. Class ACommon and Preferred Stock 14,536 shares202,050 
Huron Consulting Group Inc.Common and Preferred Stock 1,943 shares199,740 
Skechers USA Inc. Class ACommon and Preferred Stock 3,161 shares197,057 
National Retail Properties Inc.Common and Preferred Stock 4,548 shares196,019 
Tenable Holdings Inc.Common and Preferred Stock 4,253 shares195,893 
Dolby Laboratories Inc.Common and Preferred Stock 2,253 shares194,164 
Doximity Inc.Common and Preferred Stock 6,720 shares188,429 
Smartsheet Inc. Class ACommon and Preferred Stock 3,934 shares188,124 
10X Genomics Inc. Class A Common and Preferred Stock 3,335 shares186,627 
Advanced Energy Industries Inc.Common and Preferred Stock 1,683 shares183,312 
Ultragenyx Pharmaceutical Inc.Common and Preferred Stock 3,803 shares181,859 
Chemed CorporationCommon and Preferred Stock 310 shares181,273 
Prosperity Bancshares Inc.Common and Preferred Stock 2,658 shares180,026 
WisdomTree Investments Inc.Common and Preferred Stock 25,565 shares177,165 
Skyworks Solutions IncCommon and Preferred Stock 1,556 shares174,926 
ASGN Inc.Common and Preferred Stock 1,808 shares173,875 
Carlisle Companies Inc.Common and Preferred Stock 555 shares173,399 
Airbnb Inc. Class ACommon and Preferred Stock 1,266 shares172,353 
Dycom Industries Inc.Common and Preferred Stock 1,496 shares172,175 
Itron Inc.Common and Preferred Stock 2,279 shares172,087 
UGI CorporationCommon and Preferred Stock 6,960 shares171,216 
Pool CorporationCommon and Preferred Stock 424 shares169,053 
FMC CorporationCommon and Preferred Stock 2,674 shares168,596 
Woodward Inc.Common and Preferred Stock 1,233 shares167,848 
Match Group Inc.Common and Preferred Stock 4,564 shares166,586 
Range Resources CorporationCommon and Preferred Stock 5,243 shares159,597 
Belden Inc.Common and Preferred Stock 2,033 shares157,049 
Copart Inc.Common and Preferred Stock 3,203 shares156,947 
Albany International Corporation Class ACommon and Preferred Stock 1,585 shares155,679 
On Semiconductor CorporationCommon and Preferred Stock 1,862 shares155,533 
BankUnited Inc.Common and Preferred Stock 4,746 shares153,913 
ALLETE Inc.Common and Preferred Stock 2,457 shares150,270 
Align Technology Inc.Common and Preferred Stock 532 shares145,768 
Azekpany Inc.Common and Preferred Stock 3,755 shares143,629 
General ElectricCommon and Preferred Stock 1,117 shares142,563 
Alamos Gold Inc. Class ACommon and Preferred Stock 10,485 shares141,233 
Certara Inc.Common and Preferred Stock 7,998 shares140,685 
Diamondback Energy Inc.Common and Preferred Stock 907 shares140,658 
National Bank Holdings Corporation Class ACommon and Preferred Stock 3,706 shares137,826 
First American Financial CorporationCommon and Preferred Stock 2,132 shares137,386 
Graco Inc.Common and Preferred Stock 1,561 shares135,432 
Cohen & Steers Inc.Common and Preferred Stock 1,788 shares135,405 
13



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Sea LimitedCommon and Preferred Stock 3,342 shares135,351 
Applied Industrial Technologies Inc.Common and Preferred Stock 780 shares134,698 
Nasdaq Inc.Common and Preferred Stock 2,310 shares134,303 
Coherent CorporationCommon and Preferred Stock 3,072 shares133,724 
Keysight Technologies Inc.Common and Preferred Stock 822 shares130,772 
AptarGroup Inc.Common and Preferred Stock 1,053 shares130,172 
KAR Auction Services Inc.Common and Preferred Stock 8,787 shares130,135 
ACI Worldwide Inc.Common and Preferred Stock 4,234 shares129,560 
Oceaneering International Inc.Common and Preferred Stock 6,067 shares129,103 
Sotera Health CompanyCommon and Preferred Stock 7,615 shares128,313 
IAC Inc.Common and Preferred Stock 2,445 shares128,069 
Summit Materials Inc.Common and Preferred Stock 3,313 shares127,418 
Under Armour Inc. Class CCommon and Preferred Stock 15,240 shares127,254 
Cardinal Health, Inc.Common and Preferred Stock 1,261 shares127,109 
Hannon Armstrong Sustainable Infrastructure Capital Inc.Common and Preferred Stock 4,608 shares127,089 
Legend Biotech CorporationCommon and Preferred Stock 2,069 shares124,492 
Carter Inc.Common and Preferred Stock 1,658 shares124,168 
Iridium Communications Inc.Common and Preferred Stock 3,000 shares123,480 
BRP Group Inc. Class ACommon and Preferred Stock 5,105 shares122,622 
KBR, Inc.Common and Preferred Stock 2,195 shares121,625 
Encompass Health CorporationCommon and Preferred Stock 1,766 shares117,828 
Viper Energy Inc.Common and Preferred Stock 3,746 shares117,549 
Veracyte Inc.Common and Preferred Stock 4,161 shares114,469 
National Vision Holdings Inc.Common and Preferred Stock 5,462 shares114,320 
Prestige Consumer Healthcare Inc.Common and Preferred Stock 1,866 shares114,237 
Matthews International Corporation Class ACommon and Preferred Stock 3,077 shares112,772 
Box Inc. Class ACommon and Preferred Stock 4,376 shares112,069 
Teledyne Technologies Inc.Common and Preferred Stock 249 shares111,126 
Hexcel CorporationCommon and Preferred Stock 1,499 shares110,551 
Middleby CorporationCommon and Preferred Stock 744 shares109,494 
KB HomeCommon and Preferred Stock 1,740 shares108,680 
Supernus Pharmaceuticals Inc.Common and Preferred Stock 3,753 shares108,612 
Tandem Diabetes Care Inc.Common and Preferred Stock 3,670 shares108,559 
Knowles CorporationCommon and Preferred Stock 6,033 shares108,051 
Knight-Swift Transportation Holdings Inc. Class ACommon and Preferred Stock 1,845 shares106,364 
Arvinas Inc.Common and Preferred Stock 2,582 shares106,275 
WillScot Mobile Mini Holdings CorporationCommon and Preferred Stock 2,378 shares105,821 
N-Able Technologies International Inc.Common and Preferred Stock 7,905 shares104,741 
Helen Trustoy LimitedCommon and Preferred Stock 865 shares104,501 
Tronox Holdings PLCCommon and Preferred Stock 7,250 shares102,660 
SpringWorks Therapeutics Inc.Common and Preferred Stock 2,788 shares101,762 
Jacobs Solutions Inc.Common and Preferred Stock 779 shares101,114 
Toro CompanyCommon and Preferred Stock 1,053 shares101,077 
Sally Beauty Holdings Inc.Common and Preferred Stock 7,523 shares99,905 
Transmedics Group Inc.Common and Preferred Stock 1,253 shares98,899 
Barnes Group Inc.Common and Preferred Stock 2,990 shares97,564 
TKO Group Holdings Inc.Common and Preferred Stock 1,195 shares97,488 
AZZ Inc.Common and Preferred Stock 1,617 shares93,932 
Markel Corporation Holding CompanyCommon and Preferred Stock 66 shares93,713 
Texas Capital Bancshares Inc.Common and Preferred Stock 1,449 shares93,649 
14



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
8X8 Inc.Common and Preferred Stock 24,771 shares93,634 
J & J Snack Foods CorporationCommon and Preferred Stock 559 shares93,431 
Sportradar GroupCommon and Preferred Stock 8,354 shares92,312 
Agios Pharmaceuticals Inc.Common and Preferred Stock 4,120 shares91,752 
Nevro CorporationCommon and Preferred Stock 4,218 shares90,771 
Aspen Technology Inc.Common and Preferred Stock 411 shares90,482 
Pfizer Inc.Common and Preferred Stock 3,113 shares89,623 
Catalent Inc.Common and Preferred Stock 1,959 shares88,018 
SLR Investment CorporationCommon and Preferred Stock 5,684 shares85,431 
TreeHouse Foods Inc.Common and Preferred Stock 2,054 shares85,138 
Harsco CorporationCommon and Preferred Stock 9,104 shares81,936 
Ciena CorporationCommon and Preferred Stock 1,814 shares81,648 
Align Technology Inc.Common and Preferred Stock 295 shares80,830 
Masimo CorporationCommon and Preferred Stock 682 shares79,937 
Flowserve CorporationCommon and Preferred Stock 1,938 shares79,884 
Pacific Premier Bancorp Inc.Common and Preferred Stock 2,662 shares77,491 
United Community Bank Blairsville GeorgiaCommon and Preferred Stock 2,603 shares76,164 
iShares Russell Mid-Cap ETFMutual Fund 974 shares75,709 
Haemonetics CorporationCommon and Preferred Stock 885 shares75,676 
PetIQ Inc. Class ACommon and Preferred Stock 3,766 shares74,379 
JBG SMITH PropertiesCommon and Preferred Stock 4,267 shares72,582 
Curtiss Wright CorporationCommon and Preferred Stock 324 shares72,184 
BJs Wholesale Club Holdings Inc.Common and Preferred Stock 1,052 shares70,126 
Elastic N.V.Common and Preferred Stock 614 shares69,198 
Monro Inc.Common and Preferred Stock 2,302 shares67,541 
IPG Photonics CorporationCommon and Preferred Stock 609 shares66,101 
Consensus Cloud Solutions Inc. Common and Preferred Stock 2,430 shares63,690 
Grand Canyon Education Inc.Common and Preferred Stock 476 shares62,851 
GXO Logistics Inc.Common and Preferred Stock 1,019 shares62,322 
Banner CorporationCommon and Preferred Stock 1,158 shares62,022 
1-800-FLOWERS.COM Inc. Class ACommon and Preferred Stock 5,713 shares61,586 
Floor & Decor Holdings Inc.Common and Preferred Stock 543 shares60,577 
STAG Industrial Inc.Common and Preferred Stock 1,529 shares60,029 
NCR CorporationCommon and Preferred Stock 3,543 shares59,912 
iShares Core S&P Small-Cap ETFMutual Fund 547 shares59,213 
Relay Therapeutics Inc.Common and Preferred Stock 5,278 shares58,111 
Northwestern CorporationCommon and Preferred Stock 1,087 shares55,317 
Herbalife Nutrition LimitedCommon and Preferred Stock 3,624 shares55,302 
Silgan Holdings Inc.Common and Preferred Stock 1,218 shares55,115 
Heartland Express Inc.Common and Preferred Stock 3,678 shares52,448 
Sonos Inc.Common and Preferred Stock 3,002 shares51,454 
Patterson-UTI Energy Inc.Common and Preferred Stock 4,665 shares50,382 
Fox Factory Holding CorporationCommon and Preferred Stock 740 shares49,935 
WSFS Financial CorporationCommon and Preferred Stock 1,076 shares49,421 
Mid-American Apartment Communities Inc.Common and Preferred Stock 367 shares49,347 
Boston Properties Inc.Common and Preferred Stock 695 shares48,768 
Wolverine World Wide Inc.Common and Preferred Stock 5,435 shares48,317 
Axogen Inc.Common and Preferred Stock 7,054 shares48,179 
Northern Oil & Gas Inc.Common and Preferred Stock 1,288 shares47,746 
Mercury Systems Inc.Common and Preferred Stock 1,180 shares43,153 
Infinera CorporationCommon and Preferred Stock 8,934 shares42,437 
15



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
Designer Brands Inc. Class ACommon and Preferred Stock 4,789 shares42,383 
Nu Skin Enterprises Inc. Class ACommon and Preferred Stock 2,144 shares41,636 
Omnicell Inc.Common and Preferred Stock 1,057 shares39,775 
Rogers CorporationCommon and Preferred Stock 293 shares38,697 
iShares Russell 2000 ETFMutual Fund 157 shares31,511 
Berkshire Hills Bancorp Inc.Common and Preferred Stock 1,249 shares31,013 
Mednax Inc.Common and Preferred Stock 2,546 shares23,678 
John Bean Technologies CorporationCommon and Preferred Stock 207 shares20,586 
eHealth Inc.Common and Preferred Stock 1,954 shares17,039 
Safehold Inc.Common and Preferred Stock 718 shares16,801 
Remitly Global Inc.Common and Preferred Stock 736 shares14,293 
Enhabit Inc.Common and Preferred Stock 155 shares1,604 
Total U.S. Equity Active Asset Class94,514,257 
U.S. Equity Index Asset Class:
NT Collective Russell 3000 Index Fund / Non Lending*Collective Trust Fund 1,798,502 units134,889,452 
NT Collective Short Term Investment Fund*Collective Trust Fund 24 units24 
Total U.S. Equity Index Asset Class134,889,476 
International Equity Active Asset Class:
Polaris Capital Management Collective Investment Trust International Value Collective Fund*Collective Trust Fund 1,559,016 units18,822,151 
Mawer International Equity Collective Investment Trust Class B*Collective Trust Fund 1,102,136 units18,377,673 
Reliance Trust Institutional Retirement Trust GQG Partners International Equity Fund Series 11 Class C*Collective Trust Fund 1,015,711 units15,184,873 
Dodge & Cox International FundMutual Fund 216,056 shares10,621,300 
Wilmington Trust Collective Investment Trust / Jennison International Equity Opportunities CIT Class J*Collective Trust Fund 1,111,271 units10,334,823 
NT Collective MSCI All Country World Index (ACWI) ex/US Index Fund / Non Lending*Collective Trust Fund 24,766 units5,294,913 
NT Collective Short Term Investment Fund*Collective Trust Fund 9,823 units9,823 
Total International Equity Active Asset Class78,645,556 
International Equity Index Asset Class:
NT Collective MSCI All Country World Index (ACWI) ex/US Index Fund / Non Lending (Tier J)*Collective Trust Fund 194,876 units38,035,837 
BlackRock FTSE RAFI Emerging Index Non Lendable Fund F*Collective Trust Fund 1,675 units9,289 
NT Collective Short Term Investment Fund*Collective Trust Fund 5 units
Total International Equity Index Asset Class38,045,131 
Participant Self-Directed AccountsVarious Investments13,439,222 
13,439,222 
Notes Receivable from Participants*Interest Rate 4.25% - 9.50%15,996,462 
15,996,462 
Other:
16



Schedule H, line 4i – Schedule of Assets (Held at End of Year) (continued)

Identity of IssueDescription of InvestmentCurrent Value
ML Vanguard Federal Money Market Forfeiture / Settlement*Cash and Cash Equivalents30,340 
NT Collective Short Term Investment Fund*Collective Trust Fund 1,914 units1,914 
Total Other32,254 
Grand Total$718,630,902 
* Indicates party-in-interest

17


THE RETIREMENT AND SAVINGS PLAN FOR
AMGEN MANUFACTURING LIMITED LLC
INDEX TO EXHIBIT
 
18


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
 
   The Retirement and Savings Plan for
 Amgen Manufacturing Limited LLC
 (Name of Plan)
Date:June 20, 2024 By: /s/ PETER H. GRIFFITH
   Peter H. Griffith
   Executive Vice President and Chief Financial Officer
Amgen Manufacturing Limited LLC
19