Amgen Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenues of $5,536 million against $5,331 million a year ago. Operating income was $2,033 million against $1,459 million a year ago. Income before income taxes was $1,913 million against $1,286 million a year ago. Net income was $1,800 million or $2.37 per diluted share against $1,294 million or $1.68 per diluted share a year ago. Adjusted operating income was $2,366 million against $2,033 million a year ago. Adjusted income before income taxes was $2,246 million against $1,860 million a year ago. Adjusted net income was $1,985 million or $2.61 per diluted share against $1,670 million or $2.16 per diluted share a year ago. Capital Expenditures were $205 million against $203 million a year ago. The company generated $1.9 billion of free cash flow in the fourth quarter of 2015 versus $2.2 billion in the fourth quarter of 2014. Operating cash flow was $2,060 million against $2,445 million a year ago.

For the year, the company reported total revenues of $21,662 million against $20,063 million a year ago. Operating income was $8,470 million against $6,191 million a year ago. Income before income taxes was $7,978 million against $5,585 million a year ago. Net income was $6,939 million or $9.06 per diluted share against $5,158 million or $6.70 per diluted share a year ago. Adjusted operating income was $10,052 million against $8,475 million a year ago. Adjusted income before income taxes was $9,560 million against $7,869 million a year ago. Adjusted net income was $7,954 million or $10.38 per diluted share against $6,700 million or $8.70 per diluted share a year ago. Capital Expenditures were $594 million against $718 million a year ago. Free cash flow for the full year was $8.5 billion compared to $7.8 billion in 2014 driven by higher revenues and higher operating income. Operating cash flow was $9,077 million against $8,555 million a year ago.

For the full year 2016, the company now expects total revenues in the range of $22.0 billion to $22.5 billion and adjusted EPS in the range of $10.60 to $11.00. Previously, the company expected total revenues in the range of $21.7 billion to $22.3 billion and adjusted EPS in the range of $10.35 to $10.75. The company now expects adjusted tax rate to improve by 1 percentage point versus prior guidance to 19.5% to 20.5%. Capital expenditures are to be approximately $700 million. GAAP diluted EPS expects in the range of $9.13 to $9.58. GAAP tax rate guidance expects in the range of 17.5% to 18.5%.