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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Sep. 30, 2012	Oct. 31, 2012	Mar. 31, 2012
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	BDX
Entity Registrant Name	BECTON DICKINSON & CO
Entity Central Index Key	0000010795
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		196,957,804
Entity Public Float			$ 15,700,984,058

Consolidated Statements of Income - USD ($)
$ in Thousands

12 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2010

Operations

Revenues

^[1]

$ 7,708,382

$ 7,584,037

$ 7,124,385

Cost of products sold

3,755,388

3,625,122

3,428,308

Selling and administrative expense

1,923,354

1,823,537

1,690,932

Research and development expense

471,755

469,517

422,767

Total Operating Costs and Expenses

6,150,497

5,918,176

5,542,007

Operating Income

1,557,885

1,665,861

1,582,378

Interest expense

(134,658)

(84,019)

(51,263)

Interest income

50,333

43,209

35,129

Other (expense) income, net

(1,152)

(7,164)

497

Income From Continuing Operations Before Income Taxes

1,472,408

1,617,887

1,566,741

Income tax provision

362,880

417,004

451,897

Income from Continuing Operations

1,109,528

1,200,883

1,114,844

Income from Discontinued Operations Net of income tax provision of $31,268, $35,199 and $73,626

60,399

70,111

202,766

Net Income

$ 1,169,927

$ 1,270,994

$ 1,317,610

Basic Earnings per Share

Income from Continuing Operations

$ 5.40

$ 5.43

$ 4.76

Income from Discontinued Operations

0.29

0.32

0.87

Basic Earnings per Share (A)

^[2]

5.69

5.75

5.62

Diluted Earnings per Share

Income from Continuing Operations

5.30

5.31

4.64

Income from Discontinued Operations

0.29

0.31

0.84

Diluted Earnings per Share (A)

^[2]

$ 5.59

$ 5.62

$ 5.49

[1]	Intersegment revenues are not material.
[2]	Total per share amounts may not add due to rounding.

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Income tax provision	$ 31,268	$ 35,199	$ 73,626

- Definition

Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

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+ Details

Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

12 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2010

Net Income

$ 1,169,927

$ 1,270,994

$ 1,317,610

Other Comprehensive (Loss) Income, Net of Tax

Foreign currency translation adjustments

(18,435)

^[1]

(117,083)

330

Defined benefit pension and postretirement plans

(118,115)

^[2]

(62,228)

(130,461)

Unrealized gain on investments, net of amounts recognized

^[2]

420

Unrealized gains (losses) on cash flow hedges, net of amounts realized

4,713

^[2]

(33,200)

44,884

Other Comprehensive Loss, Net of Tax

(131,811)

(212,091)

(85,247)

Comprehensive Income

$ 1,038,116

$ 1,058,903

$ 1,232,363

[1]	Foreign currency translation adjustments that were attributable to goodwill in fiscal years 2012 and 2011 were $13,657 and $(12,525), respectively. The adjustments primarily affected goodwill reported within the Medical segment.
[2]	Amounts are net of tax.

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

Amount after tax, before reclassification adjustments, resulting from the process of expressing in the reporting currency of the reporting entity those amounts that are denominated or measured in a different currency, and from transactions whose terms are denominated in a currency other than the entity's functional currency.

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- Definition

Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).

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+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2012	Sep. 30, 2011
Current Assets
Cash and equivalents	$ 1,671,165	$ 1,175,282
Short-term investments	509,566	388,031
Trade receivables, net	1,249,549	1,228,637
Inventories	1,240,679	1,244,972
Prepaid expenses, deferred taxes and other	515,255	631,409
Assets held for sale	135,857
Total Current Assets	5,322,071	4,668,331
Property, Plant and Equipment, Net	3,303,928	3,211,197
Goodwill	1,076,077	991,121
Core and Developed Technology, Net	511,674	380,899
Other Intangibles, Net	301,010	417,636
Capitalized Software, Net	346,182	316,634
Other	499,967	444,610
Total Assets	11,360,909	10,430,428
Current Liabilities
Short-term debt	405,142	234,932
Accounts payable	350,455	304,836
Accrued expenses	740,636	795,224
Salaries, wages and related items	477,940	477,198
Income taxes	3,882	11,038
Total Current Liabilities	1,978,055	1,823,228
Long-Term Debt	3,761,112	2,484,665
Long-Term Employee Benefit Obligations	1,224,148	1,068,483
Deferred Income Taxes and Other	261,705	225,877
Commitments and Contingencies
Shareholders' Equity
Common stock - $1 par value: authorized - 640,000,000 shares; issued -332,662,160 shares in 2012 and 2011	332,662	332,662
Capital in excess of par value	1,920,035	1,793,160
Retained earnings	10,435,378	9,633,584
Deferred compensation	18,917	18,875
Common stock in treasury - at cost - 135,751,039 shares in 2012 and 117,844,159 shares in 2011	(7,769,292)	(6,280,106)
Accumulated other comprehensive loss	(801,811)	(670,000)
Total Shareholders' Equity	4,135,889	4,828,175
Total Liabilities and Shareholders' Equity	$ 11,360,909	$ 10,430,428

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2012	Sep. 30, 2011
Common stock,par value	$ 1	$ 1
Common stock, shares authorized	640,000,000	640,000,000
Common stock, shares issued	332,662,160	332,662,160
Common stock in treasury, shares	135,751,039	117,844,159

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010
Operating Activities
Net Income	$ 1,169,927	$ 1,270,994	$ 1,317,610
Less: Income from discontinued operations, net	60,399	70,111	202,766
Income from continuing operations, net	1,109,528	1,200,883	1,114,844
Adjustments to income from continuing operations to derive net cash provided by continuing operating activities, net of amounts acquired:
Depreciation and amortization	510,938	493,768	491,416
Share-based compensation	89,045	73,363	79,374
Deferred income taxes	22,147	30,047	28,055
Change in operating assets and liabilities:
Trade receivables, net	(30,069)	(26,515)	(73,933)
Inventories	(92,413)	(116,776)	(116,841)
Prepaid expenses, deferred taxes and other	101,863	(238,777)	(33,936)
Accounts payable, income taxes and other liabilities	17,142	128,627	155,995
Pension obligation	(38,428)	80,837	(102,967)
Other, net	3,611	12,611	44,852
Net Cash Provided by Continuing Operating Activities	1,693,364	1,638,068	1,586,859
Investing Activities
Capital expenditures	(487,430)	(508,817)	(530,969)
Capitalized software	(66,214)	(89,872)	(95,159)
Change in short-term investments	(137,855)	120,445	34,550
Sales of long-term investments		1,144	963
Acquisitions of businesses, net of cash acquired	(103,424)	(492,081)	(281,367)
Divestiture of businesses			259,990
Other, net	(99,206)	(63,588)	(81,636)
Net Cash Used for Continuing Investing Activities	(894,129)	(1,032,769)	(693,628)
Financing Activities
Change in short-term debt	1,595	34,251	(200,193)
Proceeds from long-term debt	1,488,285	991,265
Payments of debt	(42,346)	(35)	(76)
Repurchase of common stock	(1,500,000)	(1,500,001)	(750,000)
Issuance of common stock and other, net	35,051	84,148	50,093
Excess tax benefit from payments under share-based compensation plans	14,854	37,189	23,202
Dividends paid	(367,611)	(361,199)	(345,713)
Net Cash Used for Continuing Financing Activities	(370,172)	(714,382)	(1,222,687)
Discontinued Operations:
Net cash provided by operating activities	66,864	77,932	157,409
Net cash used for investing activities	(5,983)	(6,741)	(11,998)
Net Cash Provided by Discontinued Operations	60,881	71,191	145,411
Effect of exchange rate changes on cash and equivalents	5,939	(2,815)	5,790
Net Increase (Decrease) in Cash and Equivalents	495,883	(40,707)	(178,255)
Opening Cash and Equivalents	1,175,282	1,215,989	1,394,244
Closing Cash and Equivalents	$ 1,671,165	$ 1,175,282	$ 1,215,989

Summary of Significant Accounting Policies

12 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies

Note 1 — Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include the accounts of Becton, Dickinson and Company and its majority-owned subsidiaries (the “Company”) after the elimination of intercompany transactions. The Company has no material interests in variable interest entities.

Cash Equivalents

Cash equivalents consist of all highly liquid investments with a maturity of three months or less at time of purchase.

Short-Term Investments

Short-term investments consist of time deposits with maturities greater than three months and less than one year when purchased.

Inventories

Inventories are stated at the lower of first-in, first-out cost or market.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are principally provided on the straight-line basis over estimated useful lives, which range from 20 to 45 years for buildings, four to 13 years for machinery and equipment and one to 12 years for leasehold improvements. Depreciation and amortization expense was $321,294, $339,707 and $338,178 in fiscal years 2012, 2011 and 2010, respectively.

Goodwill and Other Intangible Assets

Goodwill, core and developed technology, and in-process research and development assets arise from acquisitions. Goodwill is reviewed at least annually for impairment. Goodwill is quantitatively assessed for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a component. The Company’s reporting units generally represent one level below reporting segments, and components within an operating segment that have similar economic characteristics are aggregated. Potential impairment of goodwill is identified by comparing the fair value of a reporting unit, estimated using an income approach, with its carrying value. The annual impairment review performed in fiscal year 2012 indicated that all identified reporting units’ fair values exceeded their respective carrying values.

The review for impairment of in-process research and development assets compares the fair value of the technology or project assets, estimated using an income approach, with their carrying value. In-process research and development assets are considered indefinite-lived assets until projects are completed or abandoned, and these assets are reviewed at least annually for impairment. Core and developed technology assets are generally amortized over periods ranging from 15 to 20 years, using the straight-line method, and are periodically reviewed for impairment when impairment indicators are present.

Other intangibles with finite useful lives, which include patents, are amortized over periods principally ranging from one to 40 years, using the straight-line method. These intangibles, including core and developed technology, are periodically reviewed when impairment indicators are present to assess recoverability from future operations using undiscounted cash flows. To the extent carrying value exceeds the undiscounted cash flows, an impairment loss is recognized in operating results based upon the excess of the carrying value over fair value. Other intangibles also include certain trademarks that are considered to have indefinite lives, as they are expected to generate cash flows indefinitely, and are reviewed annually for impairment.

Capitalized Software

Capitalized software, including costs for software developed or obtained for internal use, is stated at cost, less accumulated amortization. Amortization expense is principally provided on the straight-line basis over estimated useful lives, which do not exceed 10 years. The current balance primarily includes capital software investments related to a global enterprise resource planning initiative to upgrade the Company’s business information systems. Amortization for this project commenced in the third quarter of fiscal year 2012. Amortization expense related to capitalized software was $35,552, $23,106 and $32,146 for 2012, 2011 and 2010, respectively.

Foreign Currency Translation

Generally, foreign subsidiaries’ functional currency is the local currency of operations and the net assets of foreign operations are translated into U.S. dollars using current exchange rates. The U.S. dollar results that arise from such translation, as well as exchange gains and losses on intercompany balances of a long-term investment nature, are included in the foreign currency translation adjustments in Accumulated other comprehensive (loss) income.

Revenue Recognition

Revenue from product sales is typically recognized when all of the following criteria have been met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; product price is fixed or determinable; collection of the resulting receivable is reasonably assured. The Company recognizes revenue for certain instruments sold from the Biosciences segment upon installation at a customer’s site, as installation of these instruments is considered a significant post-delivery obligation. For certain instrument sales arrangements, primarily in the U.S., with multiple deliverables, revenue and cost of products sold are recognized at the completion of each deliverable: instrument shipment, installation and training. Installation and training typically occur within one month after an instrument is shipped. These sales agreements are divided into separate units of accounting and revenue is recognized upon the completion of each deliverable based on its relative selling price. The relative selling prices of installation and training are determined based on the prices at which these deliverables would be regularly sold on a standalone basis. The relative selling prices of instruments are based on estimated selling prices. These estimates represent the quoted sales contract price in each arrangement.

The Company’s domestic businesses sell products primarily to distributors that resell the products to end-user customers. Rebates are provided to distributors that sell to end-user customers at prices determined under a contract between the Company and the end-user customer. Provisions for rebates, as well as sales discounts and returns, are based upon estimates and are accounted for as a reduction of revenues when revenue is recognized.

Shipping and Handling Costs

Shipping and handling costs are included in Selling and administrative expense. Shipping expense was $280,945, $268,988 and $247,929 in 2012, 2011 and 2010, respectively.

Derivative Financial Instruments

All derivatives are recorded in the balance sheet at fair value and changes in fair value are recognized currently in earnings unless specific hedge accounting criteria are met.

From time to time, derivative financial instruments are utilized by the Company in the management of its foreign currency, interest rate and commodity price exposures. The Company periodically hedges forecasted sales denominated in foreign currencies using forward and option contracts to protect against the reduction in value of forecasted foreign currency cash flows resulting from export sales. The Company also periodically utilizes interest rate swaps to maintain a balance between fixed and floating rate instruments. Additionally, the Company has managed price risks associated with resin purchase costs through commodity derivative forward contracts. The Company does not enter into derivative financial instruments for trading or speculative purposes.

Any deferred gains or losses associated with derivative instruments are recognized in income in the period in which the underlying hedged transaction is recognized. In the event a designated hedged item is sold, extinguished or matures prior to the termination of the related derivative instrument, such instrument would be closed and the resultant gain or loss would be recognized in income.

Income Taxes

United States income taxes are not provided on undistributed earnings of foreign subsidiaries where such undistributed earnings are indefinitely reinvested outside the United States. Deferred taxes are provided for earnings of foreign subsidiaries when those earnings are not considered indefinitely reinvested. Income taxes are provided and tax credits are recognized based on tax laws enacted at the dates of the financial statements.

The Company conducts business and files tax returns in numerous countries and currently has tax audits in progress in a number of tax jurisdictions. In evaluating the exposure associated with various tax filing positions, the Company records accruals for uncertain tax positions, based on the technical support for the positions, past audit experience with similar situations, and the potential interest and penalties related to the matters.

The Company maintains valuation allowances where it is more likely than not that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances are included in the tax provision in the period of change. In determining whether a valuation allowance is warranted, management evaluates factors such as prior earnings history, expected future earnings, carry back and carry forward periods and tax strategies that could potentially enhance the likelihood of the realization of a deferred tax asset.

Earnings per Share

Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions. These estimates or assumptions affect reported assets, liabilities, revenues and expenses as reflected in the consolidated financial statements. Actual results could differ from these estimates.

Share-Based Compensation

The Company recognizes the fair value of share-based compensation in net income. Compensation expense is recognized on a straight-line basis over the requisite service period, which is generally the vesting period.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Publisher AICPA
-Name Statement of Position (SOP)
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Accounting Changes

12 Months Ended

Sep. 30, 2012

Accounting Changes

Note 2 — Accounting Changes

Change in Accounting Principles

In June 2011, the FASB issued revised guidance to require items of net income and other comprehensive income to be presented in either one continuous statement or in two separate, but consecutive statements of net income and other comprehensive income. The revised presentation requirements are effective for fiscal years beginning after December 15, 2011 and early adoption is permitted. The Company early-adopted the revised presentation requirements, which did not impact the recognition of items in its consolidated financial statements, on September 30, 2012.

In September 2011, the FASB issued revised annual goodwill impairment testing guidance. The revised requirements allow entities to first qualitatively assess whether it is necessary to perform the two-step quantitative goodwill impairment test. Further testing of goodwill for impairment under the quantitative model is required only if an entity determines, through the qualitative assessment, that it is more likely than not that a given reporting unit’s fair value is less than its carrying amount. The revised goodwill impairment testing requirements are effective for fiscal years beginning after December 15, 2011 and early adoption is permitted. The Company early-adopted the revised requirements, which did not impact its consolidated financial statements, for its fiscal year 2012 goodwill impairment review processes.

In May 2011, the Financial Accounting Standards Board (“FASB”) issued amendments to clarify guidance relating to fair value measurements. The amendments also expand the disclosure requirements for entities’ fair value measurements, particularly those relating to measurements based upon significant unobservable inputs. The Company adopted the amended fair value measurement guidance, which did not have an impact on the consolidated financial statements, on January 1, 2012.

Change in Accounting Estimates

During the second quarter of fiscal year 2012, the Company changed the useful lives of certain machinery and equipment assets used in production processes from 10 years to 13 years, to better reflect the estimated period during which these assets will remain in service. This change resulted from continuous improvement project evaluations, which included a review of assumptions related to the expected utilization of machinery and equipment assets. The Company accounted for the change in useful lives as a change in estimate prospectively effective January 1, 2012 and this change in estimate resulted in an increase in operating income of approximately $26,200 for fiscal year 2012.

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References + Details

Shareholders' Equity

12 Months Ended

Sep. 30, 2012

Shareholders' Equity

Note 3 — Shareholders’ Equity

Changes in certain components of shareholders’ equity were as follows:


	Common Stock Issued at Par Value		Capital in Excess of Par Value		Retained Earnings			Deferred Compensation			Treasury Stock
	Common Stock Issued at Par Value		Capital in Excess of Par Value		Retained Earnings			Deferred Compensation			Shares			Amount
Balance at September 30, 2009	$	332,662	$	1,485,674	$	7,752,831		$	17,906			(95,579,970	)	$	(4,073,699	)
Net income						1,317,610
Cash dividends:
Common ($1.48 per share)						(346,213	)
Common stock issued for:
Share-based compensation plans, net				59,866								2,758,391			16,624
Share-based compensation				79,228
Common stock held in trusts, net									(742	)		34,790			742
Repurchase of common stock												(10,058,820	)		(750,000	)

Balance at September 30, 2010	$	332,662	$	1,624,768	$	8,724,228		$	17,164			(102,845,609	)	$	(4,806,333	)
Net income						1,270,994
Cash dividends:
Common ($1.64 per share)						(361,638	)
Common stock issued for:
Share-based compensation plans, net				95,227								3,432,415			27,939
Share-based compensation				73,165
Common stock held in trusts, net									1,711			3,316			(1,711	)
Repurchase of common stock												(18,434,281	)		(1,500,001	)

Balance at September 30, 2011	$	332,662	$	1,793,160	$	9,633,584		$	18,875			(117,844,159	)	$	(6,280,106	)
Net income						1,169,927
Cash dividends:
Common ($1.80 per share)						(368,133	)
Common stock issued for:
Share-based compensation plans, net				38,540								1,972,763			10,856
Share-based compensation				88,335
Common stock held in trusts, net									42			65,764			(42	)
Repurchase of common stock												(19,945,407	)		(1,500,000	)

Balance at September 30, 2012	$	332,662	$	1,920,035	$	10,435,378		$	18,917			(135,751,039	)	$	(7,769,292	)

Common stock held in trusts represents rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan.

The components and changes of Accumulated other comprehensive (loss) income were as follows:


	Total			Foreign Currency Translation Adjustments(A)			Benefit Plans Adjustment(B)			Unrealized Gain (Loss) on Investments(B)			Unrealized Losses on Cash Flow Hedges(B)
Balance at September 30, 2011	$	(670,000	)	$	69,694		$	(696,624	)	$	(161	)	$	(42,909	)
Other comprehensive (loss) income		(131,811	)		(18,435	)		(118,115	)		26			4,713

Balance at September 30, 2012	$	(801,811	)	$	51,259		$	(814,739	)	$	(135	)	$	(38,196	)

(A)	Foreign currency translation adjustments that were attributable to goodwill in fiscal years 2012 and 2011 were $13,657 and $(12,525), respectively. The adjustments primarily affected goodwill reported within the Medical segment.

(B)	Amounts are net of tax.

The loss in foreign currency translation adjustments in fiscal year 2012 mainly represented losses attributable to the weakening of the Euro, as well as certain currencies in Latin America, against the U.S. dollar during fiscal year 2012. These losses were partially offset by gains attributable to the strengthening of certain currencies in Asia Pacific against the U.S. dollar during fiscal year 2012. Income taxes are generally not provided for translation adjustments.

The income tax benefit recorded in fiscal years 2012, 2011, and 2010 for defined benefit pension, postretirement plans and postemployment plans was $47,727, $47,575 and $67,829, respectively. The benefit plans adjustment included in other comprehensive (loss) income for 2012, 2011 and 2010 is net reclassification adjustments of $40,448, $43,230 and $32,186, net of tax, respectively. These reclassifications represent the amortization of prior service credit and amortization of net actuarial losses and have been included in Accumulated other comprehensive (loss) income in prior periods. The taxes associated with these reclassification adjustments in 2012, 2011 and 2010 were $22,750, $23,749 and $17,980, respectively.

The income tax provision (benefit) recorded in fiscal years 2012, 2011 and 2010 for unrealized gains (losses) on cash flow hedges was $2,889, $(20,348) and $27,510, respectively. The unrealized losses on cash flow hedges included in other comprehensive (loss) income for 2012, 2011 and 2010 are net of reclassification adjustments of $4,880, $1,027, and $20,771, net of tax, respectively, for realized net hedge losses recorded to Revenues and Interest expense. These amounts had been included in Accumulated other comprehensive (loss) income in prior periods. The tax benefit associated with these reclassification adjustments in 2012, 2011 and 2010 was $2,991, $629 and $12,731, respectively. Additional disclosures regarding derivatives are included in Note 12.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

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-Subparagraph (SAB TOPIC 4.E)
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-URI http://asc.fasb.org/extlink&oid=6521494

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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
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-Number 12
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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Reference 20: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
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Reference 21: http://www.xbrl.org/2003/role/presentationRef
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Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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+ Details

Earnings per Share

12 Months Ended

Sep. 30, 2012

Earnings per Share

Note 4 — Earnings per Share

The weighted average common shares used in the computations of basic and diluted earnings per share (shares in thousands) for the years ended September 30 were as follows:


	2012		2011		2010
Average common shares outstanding		205,460		221,175		234,328
Dilutive share equivalents from share-based plans		3,721		5,105		5,808

Average common and common equivalent shares outstanding — assuming dilution		209,181		226,280		240,136

Options to purchase shares of common stock are excluded from the calculation of diluted earnings per share when their inclusion would have an anti-dilutive effect on the calculation. Options to purchase 4.8 million shares, 1.2 million shares and 1.3 million shares of the Company’s common stock were excluded from the calculation of diluted earnings per share in 2012, 2011 and 2010, respectively.

Commitments and Contingencies

12 Months Ended

Sep. 30, 2012

Commitments and Contingencies

Note 5 — Commitments and Contingencies

Commitments

Rental expense for all operating leases amounted to $65,941 in 2012, $68,545 in 2011, and $63,794 in 2010. Future minimum rental commitments on noncancelable leases are as follows: 2013 — $50,353; 2014 — $42,967; 2015 — $35,267; 2016 — $26,830; 2017 — $22,065 and an aggregate of $33,531 thereafter.

As of September 30, 2012, the Company has certain future purchase commitments aggregating to approximately $505,676, which will be expended over the next several years.

Contingencies

Given the uncertain nature of litigation generally, the Company is not able in all cases to estimate the amount or range of loss that could result from an unfavorable outcome of the litigation to which the Company is a party. In accordance with U.S. generally accepted accounting principles, the Company establishes accruals to the extent probable future losses are estimable (in the case of environmental matters, without considering possible third-party recoveries). In view of the uncertainties discussed below, the Company could incur charges in excess of any currently established accruals and, to the extent available, excess liability insurance. In the opinion of management, any such future charges, individually or in the aggregate, could have a material adverse effect on the Company’s consolidated results of operations and consolidated cash flows.

The Company is named as a defendant in the following purported class action suits brought on behalf of distributors and other entities that purchase the Company’s products (the “Distributor Plaintiffs”), alleging that the Company violated federal antitrust laws, resulting in the charging of higher prices for the Company’s products to the plaintiffs and other purported class members.


Case	Court	Date Filed
Louisiana Wholesale Drug Company, Inc., et. al. vs. Becton Dickinson and Company	U.S. District Court, Newark, New Jersey	March 25, 2005
SAJ Distributors, Inc. et. al. vs. Becton Dickinson & Co.	U.S. District Court, Eastern District of Pennsylvania	September 6, 2005
Dik Drug Company, et. al. vs. Becton, Dickinson and Company	U.S. District Court, Newark, New Jersey	September 12, 2005
American Sales Company, Inc. et. al. vs. Becton, Dickinson & Co.	U.S. District Court, Eastern District of Pennsylvania	October 3, 2005
Park Surgical Co. Inc. et. al. vs. Becton, Dickinson and Company	U.S. District Court, Eastern District of Pennsylvania	October 26, 2005

These actions have been consolidated under the caption “In re Hypodermic Products Antitrust Litigation.”

The Company is also named as a defendant in the following purported class action suits brought on behalf of purchasers of the Company’s products, such as hospitals (the “Hospital Plaintiffs”), alleging that the Company violated federal and state antitrust laws, resulting in the charging of higher prices for the Company’s products to the plaintiffs and other purported class members.


Case	Court	Date Filed
Jabo’s Pharmacy, Inc., et. al. v. Becton Dickinson & Company	U.S. District Court, Greenville, Tennessee	June 3, 2005
Drug Mart Tallman, Inc., et. al. v. Becton Dickinson and Company	U.S. District Court, Newark, New Jersey	January 17, 2006
Medstar v. Becton Dickinson	U.S. District Court, Newark, New Jersey	May 18, 2006
The Hebrew Home for the Aged at Riverdale v. Becton Dickinson and Company	U.S. District Court, Southern District of New York	March 28, 2007

The plaintiffs in each of the above antitrust class action lawsuits seek monetary damages. All of the antitrust class action lawsuits have been consolidated for pre-trial purposes in a Multi-District Litigation in Federal court in New Jersey.

On April 27, 2009, the Company entered into a settlement agreement with the Distributor Plaintiffs in these actions. The settlement agreement provides for, among other things, the payment by the Company of $45,000 in exchange for a release by all potential class members of the direct purchaser claims under federal antitrust laws related to the products and acts enumerated in the complaint, and a dismissal of the case with prejudice, insofar as it relates to direct purchaser claims. The release would not cover potential class members that affirmatively opt out of the settlement or indirect purchaser claims. On September 30, 2010, the District Court denied a motion to approve the settlement agreement, ruling that the Hospital Plaintiffs, and not the Distributor Plaintiffs, are the direct purchasers with standing to sue under federal antitrust laws. On June 5, 2012, the U.S. Court of Appeals for the Third Circuit reversed the District Court’s standing decision and ruled that the Distributor Plaintiffs, not the Hospital Plaintiffs, are direct purchasers entitled to pursue damages. The Hospital Plaintiffs requested that the ruling be reconsidered, but that request was denied. The settlement agreement thus remains in effect, subject to certain termination provisions, and must be approved as to fairness by the District Court. The Distributor Plaintiffs have filed a motion requesting that the settlement agreement be preliminarily approved as fair and reasonable. Certain of the Hospital Plaintiffs have opposed that motion. The Company currently cannot estimate the range of reasonably possible losses with respect to these class action matters beyond the $45,000 already accrued and changes to the amount already recognized may be required in the future as additional information becomes available.

In June 2007, Retractable Technologies, Inc. (“RTI”) filed a complaint against the Company under the caption Retractable Technologies, Inc. vs. Becton Dickinson and Company (Civil Action No. 2:07-cv-250, U.S. District Court, Eastern District of Texas). RTI alleges that the BD Integra^TM syringes infringe patents licensed exclusively to RTI. In its complaint, RTI also alleges that the Company engaged in false advertising with respect to certain of the Company’s safety-engineered products in violation of the Lanham Act; acted to exclude RTI from various product markets and to maintain its market share through, among other things, exclusionary contracts in violation of state and federal antitrust laws; and engaged in unfair competition. In January 2008, the court severed the patent and non-patent claims into separate cases, and stayed the non-patent claims during the pendency of the patent claims at the trial court level. RTI seeks money damages and injunctive relief. On April 1, 2008, RTI filed a complaint against BD under the caption Retractable Technologies, Inc. and Thomas J. Shaw v. Becton Dickinson and Company (Civil Action No.2:08-cv-141, U.S. District Court, Eastern District of Texas). RTI alleges that the BD Integra^TM syringes infringe another patent licensed exclusively to RTI. RTI seeks money damages and injunctive relief. On August 29, 2008, the court ordered the consolidation of the patent cases. On November 9, 2009, at a trial of these consolidated cases, the jury rendered a verdict in favor of RTI on all but one of its infringement claims, but did not find any willful infringement, and awarded RTI $5,000 in damages. On May 19, 2010, the court granted RTI’s motion for a permanent injunction against the continued sale by the Company of its BD Integra^TM products in their current form, but stayed the injunction for the duration of the Company’s appeal. At the same time, the court lifted a stay of RTI’s non-patent claims. On July 8, 2011, the Court of Appeals for the Federal Circuit reversed the District Court judgment that the Company’s 3ml BD Integra™ products infringed the asserted RTI patents and affirmed the District Court judgment of infringement against the Company’s discontinued 1ml BD Integra™ products. On October 31, 2011, the Federal Circuit Court of Appeals denied RTI’s request for an en banc rehearing. RTI has filed a petition for review with the U.S. Supreme Court. The trial on RTI’s antitrust and false advertising claims has been postponed pending resolution of RTI’s appeal of the patent ruling.

With respect to RTI’s antitrust and false advertising claims, BD cannot estimate the possible loss or range of possible loss as there are significant legal and factual issues to be resolved. These include discovery regarding RTI’s alleged damages and liability theories, which has not been completed. Each party has filed motions seeking to exclude portions of the other party’s expert testimony and to preclude the other party from introducing certain other evidence at trial. RTI’s appeal of the appellate court’s patent ruling to the U.S. Supreme Court adds further uncertainty to the possible future outcomes of RTI’s antitrust and false advertising claims. In the event that RTI ultimately succeeds at trial and subsequent appeals on its antitrust and false advertising claims, any potential loss could be material as RTI is seeking to recover substantial damages including disgorgement of profits and damages under the federal antitrust laws, which are trebled. BD believes RTI’s allegations are without merit.

On October 19, 2009, Gen-Probe Incorporated (“Gen-Probe”) filed a patent infringement action against BD in the U.S. District Court for the Southern District of California. The complaint alleges that the BD Viper™ and BD Viper™ XTR™ systems and BD ProbeTec™ specimen collection products infringe certain U.S. patents of Gen-Probe. On March 23, 2010, Gen-Probe filed a complaint, also in the U.S. District Court for the Southern District of California, alleging that the BD Max^TM instrument infringes Gen-Probe patents. The patents alleged to be infringed are a subset of the Gen-Probe patents asserted against the Company in the October 2009 suit. On June 8, 2010, the court consolidated these cases. In a decision dated September 28, 2012, the District Court for the Southern District of California issued a ruling on pre-trial summary judgment motions. The court ruled that some of Gen-Probe’s asserted patent claims are infringed, but other claims are not infringed, thus reducing from six to four the number of patents to be contested at the trial and significant defense issues relating to patent invalidity, inequitable conduct and standing, remain to be adjudicated. Gen-Probe is seeking monetary damages and injunctive relief. The Company currently cannot estimate the range of reasonably possible losses for this matter as there are significant issues to be resolved either prior to, or at, trial, including patent invalidity, inequitable conduct and standing issues as well as motions seeking to exclude portions of the other party’s expert testimony and to preclude the other party from introducing certain other evidence at trial.

The Company believes that it has meritorious defenses to each of the above-mentioned suits pending against the Company and is engaged in a vigorous defense of each of these matters.

The Company is also involved both as a plaintiff and a defendant in other legal proceedings and claims that arise in the ordinary course of business.

The Company is a party to a number of Federal proceedings in the United States brought under the Comprehensive Environment Response, Compensation and Liability Act, also known as “Superfund,” and similar state laws. The affected sites are in varying stages of development. In some instances, the remedy has been completed, while in others, environmental studies are commencing. For all sites, there are other potentially responsible parties that may be jointly or severally liable to pay all cleanup costs.

- Definition

The entire disclosure for commitments and contingencies.

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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Segment Data

12 Months Ended

Sep. 30, 2012

Segment Data

Note 6 — Segment Data

The Company’s organizational structure is based upon its three principal business segments: BD Medical (“Medical”), BD Diagnostics (“Diagnostics”) and BD Biosciences (“Biosciences”). These segments are strategic businesses that are managed separately because each one develops, manufactures and markets distinct products and services.

The Medical segment produces a broad array of medical devices that are used in a wide range of healthcare settings. The principal product lines in the Medical segment include needles, syringes and intravenous catheters for medication delivery (including safety-engineered and auto-disable devices); prefilled IV flush syringes; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations; regional anesthesia needles and trays; sharps disposal containers; and closed-system transfer devices.

The Diagnostics segment produces products for the safe collection and transport of diagnostic specimens, as well as instrument systems and reagents to detect a broad range of infectious diseases, healthcare-associated infections (“HAIs”) and cancers. The principal products and services in the Diagnostics segment include integrated systems for specimen collection; safety-engineered blood collection products and systems; automated blood culturing systems; molecular testing systems for infectious diseases and women’s health; microorganism identification and drug susceptibility systems; liquid-based cytology systems for cervical cancer screening; rapid diagnostic assays; plated media; and microbiology laboratory automation.

The Biosciences segment produces research and clinical tools that facilitate the study of cells, and the components of cells, to gain a better understanding of normal and disease processes. The principal product lines in the Biosciences segment include fluorescence-activated cell sorters and analyzers; monoclonal antibodies and kits for performing cell analysis; reagent systems for life science research; cell imaging systems; laboratory products for tissue culture and fluid handling; diagnostic assays; and cell culture media supplements for biopharmaceutical manufacturing.

The Company evaluates performance of its business segments and allocates resources to them primarily based upon operating income. Segment operating income represents revenues reduced by product costs and operating expenses. From time to time, the Company hedges against certain forecasted sales of U.S.-produced products sold outside the United States. Gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of U.S.-produced products.

Distribution of products is primarily through independent distribution channels, and directly to end-users by BD and independent sales representatives. No customer accounted for 10% or more of revenues in any of the three years presented.


Revenues(A)	2012			2011			2010
Medical	$	4,090,693		$	4,007,304		$	3,796,432
Diagnostics		2,538,055			2,480,477			2,318,879
Biosciences		1,079,634			1,096,256			1,009,074

	$	7,708,382		$	7,584,037		$	7,124,385

Segment Operating Income
Medical	$	1,162,466		$	1,181,404		$	1,118,319
Diagnostics		652,873			636,361			607,411
Biosciences		261,692			278,013			259,810

Total Segment Operating Income		2,077,031			2,095,778			1,985,540
Unallocated Expenses(B)		(604,623	)		(477,891	)		(418,799	)

Income From Continuing Operations Before Income Taxes	$	1,472,408		$	1,617,887		$	1,566,741

Segment Assets
Medical	$	4,244,652		$	3,928,241		$	3,527,457
Diagnostics		2,461,925			2,269,797			2,301,586
Biosciences		1,407,096			1,332,246			1,059,774

Total Segment Assets		8,113,673			7,530,284			6,888,817
Corporate and All Other(C)		3,247,236			2,900,144			2,761,877

	$	11,360,909		$	10,430,428		$	9,650,694

Capital Expenditures
Medical	$	363,426		$	366,915		$	368,857
Diagnostics		100,512			93,435			108,941
Biosciences		13,883			30,652			43,484
Corporate and All Other		9,609			17,815			9,687

	$	487,430		$	508,817		$	530,969

Depreciation and Amortization
Medical	$	239,591		$	248,091		$	253,109
Diagnostics		174,974			163,313			163,392
Biosciences		78,558			66,540			61,622
Corporate and All Other		17,815			15,824			13,293

	$	510,938		$	493,768		$	491,416

(A)	Intersegment revenues are not material.

(B)	Includes primarily interest, net; foreign exchange; corporate expenses; and share-based compensation expense.

(C)	Includes cash and investments and corporate assets.


Revenues by Organizational Units	2012		2011		2010
BD Medical
Medical Surgical Systems	$	2,105,288	$	2,081,733	$	2,010,009
Diabetes Care		911,276		866,477		785,759
Pharmaceutical Systems		1,074,129		1,059,094		1,000,664

		4,090,693		4,007,304		3,796,432

BD Diagnostics
Preanalytical Systems		1,300,892		1,277,793		1,197,807
Diagnostic Systems		1,237,163		1,202,684		1,121,072

		2,538,055		2,480,477		2,318,879

BD Biosciences		1,079,634		1,096,256		1,009,074

	$	7,708,382	$	7,584,037	$	7,124,385

Geographic Information

The countries in which the Company has local revenue-generating operations have been combined into the following geographic areas: the United States (including Puerto Rico), Europe, Asia Pacific and Other, which is comprised of Latin America, Canada, and Japan.

Revenues to unaffiliated customers are based upon the source of the product shipment. Long-lived assets, which include net property, plant and equipment, are based upon physical location.


	2012		2011		2010
Revenues
United States	$	3,287,715	$	3,247,555	$	3,168,723
Europe		2,378,746		2,430,939		2,322,030
Asia Pacific		883,293		792,933		663,023
Other		1,158,628		1,112,610		970,609

	$	7,708,382	$	7,584,037	$	7,124,385

Long-Lived Assets
United States	$	3,155,804	$	3,140,395	$	2,841,639
Europe		1,558,882		1,461,085		1,145,043
Asia Pacific		397,226		300,006		258,879
Other		623,974		590,544		617,323
Corporate		302,952		270,067		282,560

	$	6,038,838	$	5,762,097	$	5,145,444

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Share-Based Compensation

12 Months Ended

Sep. 30, 2012

Share-Based Compensation

Note 7 — Share-Based Compensation

The Company grants share-based awards under the 2004 Employee and Director Equity-Based Compensation Plan (“2004 Plan”), which provides long-term incentive compensation to employees and directors consisting of: stock appreciation rights (“SARs”), stock options, performance-based restricted stock units, time-vested restricted stock units and other stock awards.

The amounts and location of compensation cost relating to share-based payments included in consolidated statements of income is as follows:


	2012		2011		2010
Cost of products sold	$	17,864	$	14,440	$	15,128
Selling and administrative expense		59,201		49,536		54,423
Research and development expense		11,980		9,387		9,823

	$	89,045	$	73,363	$	79,374

The associated income tax benefit recognized was $32,075, $26,342 and $28,532, respectively. Share-based compensation attributable to discontinued operations was not material.

Stock Appreciation Rights

SARs represent the right to receive, upon exercise, shares of common stock having a value equal to the difference between the market price of common stock on the date of exercise and the exercise price on the date of grant. SARs vest over a four-year period and have a ten-year term. The fair value was estimated on the date of grant using a lattice-based binomial option valuation model that uses the following weighted-average assumptions:


	2012	2011	2010
Risk-free interest rate	1.67%	2.40%	2.60%
Expected volatility	22.0%	24.0%	28.0%
Expected dividend yield	2.50%	2.14%	1.96%
Expected life	7.9 years	7.8 years	6.5 years
Fair value derived	$12.61	$16.80	$19.70

Expected volatility is based upon historical volatility for the Company’s common stock and other factors. The expected life of SARs granted is derived from the output of the lattice-based model, using assumed exercise rates based on historical exercise and termination patterns, and represents the period of time that SARs granted are expected to be outstanding. The risk-free interest rate used is based upon the published U.S. Treasury yield curve in effect at the time of grant for instruments with a similar life. The dividend yield is based upon the most recently declared quarterly dividend as of the grant date. The total intrinsic value of SARs exercised during 2012, 2011 and 2010 was $3,934, $9,185, and $2,831, respectively. The Company issued 51,594 shares during 2012 to satisfy the SARs exercised. The actual tax benefit realized during 2012, 2011 and 2010 for tax deductions from SAR exercises totaled $2,866, $3,459 and $1,031, respectively. The total fair value of SARs vested during 2012, 2011 and 2010 was $36,512, $31,992 and $33,640, respectively.

A summary of SARs outstanding as of September 30, 2012 and changes during the year then ended is as follows:


	SARs			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Balance at October 1		9,027,037		$	72.14
Granted		1,431,558			72.12
Exercised		(351,857	)		65.28
Forfeited, canceled or expired		(324,726	)		75.42

Balance at September 30		9,782,012		$	72.28		6.52	$	68,123

Vested and expected to vest at September 30		9,418,066		$	72.23		6.46	$	66,275

Exercisable at September 30		6,142,551		$	71.56		5.55	$	49,643

Stock options

The Company has not granted stock options since 2005. All outstanding stock option grants are fully vested and have a ten-year term.

A summary of stock options outstanding as of September 30, 2012 and changes during the year then ended is as follows:


	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Balance at October 1		3,457,351		$	40.61
Exercised		(1,451,952	)		36.14
Forfeited, canceled or expired		(36,777	)		32.89

Balance at September 30		1,968,622		$	44.06		1.42	$	67,920

Vested at September 30		1,968,622		$	44.06		1.42	$	67,920

Exercisable at September 30		1,968,622		$	44.06		1.42	$	67,920

Cash received from the exercising of stock options in 2012, 2011 and 2010 was $52,470, $103,267 and $72,770, respectively. The actual tax benefit realized for tax deductions from stock option exercises totaled $11,944, $45,829 and $28,660, respectively. The total intrinsic value of stock options exercised during the years 2012, 2011 and 2010 was $57,907, $137,720 and $89,943, respectively.

Performance-Based Restricted Stock Units

Performance-based restricted stock units cliff vest three years after the date of grant. These units are tied to the Company’s performance against pre-established targets, including its average growth rate of consolidated revenues and average return on invested capital, over a three-year performance period. Under the Company’s long-term incentive program, the actual payout under these awards may vary from zero to 200% of an employee’s target payout, based on the Company’s actual performance over the three-year performance period. The fair value is based on the market price of the Company’s stock on the date of grant. Compensation cost initially recognized assumes that the target payout level will be achieved and is adjusted for subsequent changes in the expected outcome of performance-related conditions.

A summary of performance-based restricted stock units outstanding as of September 30, 2012 and changes during the year then ended is as follows:


	Stock Units			Weighted Average Grant Date Fair Value
Balance at October 1		2,902,934		$	70.96
Granted		501,054			72.12
Distributed		(78,086	)		62.54
Forfeited or canceled		(1,140,514	)		63.84

Balance at September 30(A)		2,185,388		$	75.24

Expected to vest at September 30(B)		329,711		$	73.67

(A)	Based on 200% of target payout.

(B)	Net of expected forfeited units and units in excess of the expected performance payout of 131,872 and 1,723,805, respectively.

The weighted average grant date fair value of performance-based restricted stock units granted during the years 2011 and 2010 was $76.64 and $75.63, respectively. The total fair value of performance-based restricted stock units vested during 2012, 2011 and 2010 was $7,358, $15,430 and $24,357, respectively. At September 30, 2012, the weighted average remaining vesting term of performance-based restricted stock units is .97 years.

Time-Vested Restricted Stock Units

Time-vested restricted stock units generally cliff vest three years after the date of grant, except for certain key executives of the Company, including the executive officers, for which such units generally vest one year following the employee’s retirement. The related share-based compensation expense is recorded over the requisite service period, which is the vesting period or in the case of certain key executives is based on retirement eligibility. The fair value of all time-vested restricted stock units is based on the market value of the Company’s stock on the date of grant.

A summary of time-vested restricted stock units outstanding as of September 30, 2012 and changes during the year then ended is as follows:


	Stock Units			Weighted Average Grant Date Fair Value
Balance at October 1		1,910,670		$	70.59
Granted		1,149,053			72.27
Distributed		(404,254	)		64.04
Forfeited or canceled		(265,341	)		68.00

Balance at September 30		2,390,128		$	72.79

Expected to vest at September 30		2,151,115		$	72.79

The weighted average grant date fair value of time-vested restricted stock units granted during the years 2011 and 2010 was $76.97 and $75.58, respectively. The total fair value of time-vested restricted stock units vested during 2012, 2011 and 2010 was $38,105, $36,009 and $36,675, respectively. At September 30, 2012, the weighted average remaining vesting term of the time-vested restricted stock units is 1.44 years.

The amount of unrecognized compensation expense for all non-vested share-based awards as of September 30, 2012, is approximately $94,744, which is expected to be recognized over a weighted-average remaining life of approximately 1.96 years. At September 30, 2012, 5,776,296 shares were authorized for future grants under the 2004 Plan.

The Company has a policy of satisfying share-based payments through either open market purchases or shares held in treasury. At September 30, 2012, the Company has sufficient shares held in treasury to satisfy these payments in 2012.

Other Stock Plans

The Company has a Stock Award Plan, which allows for grants of common shares to certain key employees. Distribution of 25% or more of each award is deferred until after retirement or involuntary termination, upon which the deferred portion of the award is distributable in five equal annual installments. The balance of the award is distributable over five years from the grant date, subject to certain conditions. In February 2004, this plan was terminated with respect to future grants upon the adoption of the 2004 Plan. At September 30, 2012 and 2011, awards for 88,692 and 97,705 shares, respectively, were outstanding.

The Company has a Directors’ Deferral Plan, which provides a means to defer director compensation, from time to time, on a deferred stock or cash basis. As of September 30, 2012, 99,557 shares were held in trust, of which 5,414 shares represented Directors’ compensation in 2012, in accordance with the provisions of the plan. Under this plan, which is unfunded, directors have an unsecured contractual commitment from the Company.

The Company also has a Deferred Compensation Plan that allows certain highly-compensated employees, including executive officers, to defer salary, annual incentive awards and certain equity-based compensation. As of September 30, 2012, 440,451 shares were issuable under this plan.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Benefit Plans

12 Months Ended

Sep. 30, 2012

Benefit Plans

Note 8 — Benefit Plans

The Company has defined benefit pension plans covering substantially all of its employees in the United States and certain foreign locations. The Company also provides certain postretirement healthcare and life insurance benefits to qualifying domestic retirees. Postretirement healthcare and life insurance benefit plans in foreign countries are not material. The measurement date used for the Company’s employee benefit plans is September 30.

On November 30, 2011, the Company remeasured its U.S. defined pension plan as a result of amendments to this plan that were approved and communicated to affected employees during the first quarter of fiscal year 2012. Effective January 1, 2013, all plan participants’ benefits in the defined benefit traditional pension plan will be converted to a defined benefit cash balance pension plan. The November 30, 2011 remeasurement was based upon a discount rate of 5.1%, compared with the discount rate of 4.9% used on the September 30, 2011 measurement date. The increase in the discount rate reduced total fiscal year 2012 net pension cost by $5,300. An increase in plan assets held as of November 30, 2011 compared with assets held as of September 30, 2011 also reduced total fiscal year 2012 net pension cost by $6,200. The total reduction in fiscal year 2012 net pension cost resulting from the remeasurement was $40,200.

Net pension and other postretirement cost for the years ended September 30 included the following components:


	Pension Plans									Other Postretirement Benefits
	2012			2011			2010			2012			2011			2010
Service cost	$	74,560		$	88,692		$	72,901		$	5,870		$	5,842		$	5,007
Interest cost		91,181			93,228			90,432			12,755			13,143			14,190
Expected return on plan assets		(103,624	)		(103,081	)		(99,199	)		—			—			—
Amortization of prior service (credit) cost		(11,049	)		(1,294	)		(1,091	)		(690	)		(686	)		4
Amortization of loss		56,416			55,735			41,812			4,632			4,465			3,408
Amortization of net asset		(11	)		(34	)		(47	)		—			—			—
Curtailment/settlement loss		20,466			1,096			—			(1,135	)		—			—

	$	127,939		$	134,342		$	104,808		$	21,432		$	22,764		$	22,609

Net pension cost attributable to foreign plans included in the preceding table was $31,085, $34,429 and $25,820 in 2012, 2011 and 2010, respectively.

The settlement loss recorded in 2012 included lump sum benefit payments associated with the Company’s supplemental pension plan. The Company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year. The settlement loss recorded in 2012 also included settlements associated with certain foreign plans.

The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Consolidated Balance Sheets for these plans were as follows:


	Pension Plans						Other Postretirement Benefits
	2012			2011			2012			2011
Change in benefit obligation:
Beginning obligation	$	1,996,441		$	1,911,295		$	269,458		$	260,124
Service cost		74,560			88,692			5,870			5,842
Interest cost		91,181			93,228			12,755			13,143
Plan amendments		(124,048	)		(3,683	)		(5,042	)		—
Benefits paid		(124,309	)		(108,381	)		(27,065	)		(25,776	)
Actuarial loss		439,082			22,146			5,384			8,277
Settlements		(45,496	)		—			—			—
Other, includes translation		105			(6,856	)		5,841			7,848

Benefit obligation at September 30	$	2,307,516		$	1,996,441		$	267,201		$	269,458

Change in fair value of plan assets:
Beginning fair value	$	1,352,730		$	1,413,848		$	—		$	—
Actual return on plan assets		223,483			1,391			—			—
Employer contribution		166,367			53,505			—			—
Benefits paid		(124,309	)		(108,381	)		—			—
Settlements		(45,496	)		—			—			—
Other, includes translation		567			(7,633	)		—			—

Plan assets at September 30	$	1,573,342		$	1,352,730		$	—		$	—

Funded Status at September 30:
Unfunded benefit obligation	$	(734,174	)	$	(643,711	)	$	(267,201	)	$	(269,458	)

Amounts recognized in the Consolidated Balance Sheets at September 30:
Other	$	51		$	3,217		$	—		$	—
Salaries, wages and related items		(5,856	)		(6,042	)		(17,590	)		(18,188	)
Long-term Employee Benefit Obligations		(728,369	)		(640,886	)		(249,611	)		(251,270	)

Net amount recognized	$	(734,174	)	$	(643,711	)	$	(267,201	)	$	(269,458	)

Amounts recognized in Accumulated other comprehensive (loss) income before income taxes at September 30:
Net transition asset	$	357		$	398		$	—		$	—
Prior service credit		122,235			9,193			10,365			6,013
Net actuarial loss		(1,152,948	)		(911,146	)		(70,949	)		(70,653	)

Net amount recognized	$	(1,030,356	)	$	(901,555	)	$	(60,584	)	$	(64,640	)

Foreign pension plan assets at fair value included in the preceding table were $466,450 and $419,452 at September 30, 2012 and 2011, respectively. The foreign pension plan projected benefit obligations were $632,442 and $500,969 at September 30, 2012 and 2011, respectively.

Pension plans with accumulated benefit obligations in excess of plan assets and plans with projected benefit obligations in excess of plan assets consist of the following at September 30:


	Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets				Projected Benefit Obligation Exceeds the Fair Value of Plan Assets
	2012		2011		2012		2011
Projected benefit obligation	$	2,054,644	$	1,616,534	$	2,307,472	$	1,862,441
Accumulated benefit obligation	$	1,999,604	$	1,338,643
Fair value of plan assets	$	1,364,169	$	989,043	$	1,573,247	$	1,215,513

The estimated net actuarial loss and prior service credit for pension benefits that will be amortized from Accumulated other comprehensive (loss) income into net pension costs over the next fiscal year are expected to be $(75,524) and $13,130, respectively. The estimated net actuarial loss and prior service credit for other postretirement benefits that will be amortized from Accumulated other comprehensive (loss) income into net other postretirement costs over the next fiscal year are expected to be $(3,911) and $1,139, respectively.

The weighted average assumptions used in determining pension plan information were as follows:


	2012			2011			2010
Net Cost
Discount rate:
U.S. plans(A)(B)		4.90	%		5.20	%		5.90	%
Foreign plans		5.26			4.68			5.63
Expected return on plan assets:
U.S. plans		7.75			8.00			8.00
Foreign plans		6.06			6.31			6.38
Rate of compensation increase:
U.S. plans(A)		4.25			4.50			4.50
Foreign plans		3.61			3.56			3.35
Benefit Obligation
Discount rate:
U.S. plans(A)		3.90			4.90			5.20
Foreign plans		3.94			5.26			4.68
Rate of compensation increase:
U.S. plans(A)		4.25			4.25			4.50
Foreign plans		3.28			3.61			3.56

(A)	Also used to determine other postretirement and postemployment benefit plan information.

(B)	On November 30, 2011, the Company remeasured its U.S. defined benefit pension plan based upon a 5.10% discount rate compared to the discount rate of 4.90% used on September 30, 2011. All other U.S. plans remained at 4.90%.

At September 30, 2012 the assumed healthcare trend rates were 7.5% pre and post age 65, gradually decreasing to an ultimate rate of 5.0% beginning in 2024. At September 30, 2011 the corresponding assumed healthcare trend rates were 7.6% pre and post age 65, gradually decreasing to an ultimate rate of 5.0% beginning in 2024. A one percentage point increase in assumed healthcare cost trend rates in each year would increase the accumulated postretirement benefit obligation as of September 30, 2012 by $11,526 and the aggregate of the service cost and interest cost components of 2012 annual expense by $638. A one percentage point decrease in the assumed healthcare cost trend rates in each year would decrease the accumulated postretirement benefit obligation as of September 30, 2012 by $9,527 and the aggregate of the 2012 service cost and interest cost by $480.

Expected Rate of Return on Plan Assets

The expected rate of return on plan assets is based upon expectations of long-term average rates of return to be achieved by the underlying investment portfolios. In establishing this assumption, the Company considers many factors, including historical assumptions compared with actual results; benchmark data; expected returns on various plan asset classes, as well as current and expected asset allocations.

Expected Funding

The Company’s funding policy for its defined benefit pension plans is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that may be appropriate considering the funded status of the plans, tax consequences, the cash flow generated by the Company and other factors. While the Company does not anticipate any significant required contributions to its pension plans in 2013, the Company made a discretionary contribution of $100,000 to its U.S. pension plan in October 2012.

Expected benefit payments are as follows:


	Pension Plans		Other Postretirement Benefits
2013	$	149,098	$	17,590
2014		148,264		17,942
2015		154,868		18,348
2016		159,853		18,658
2017		167,326		18,774
2018-2022		862,741		92,863

Expected receipts of the subsidy under the Medicare Prescription Drug Improvement and Modernization Act of 2003, which are not reflected in the expected other postretirement benefit payments included in the preceding table, are as follows: 2013, $1,417; 2014, $1,404; 2015, $1,382; 2016, $1,353; 2017, $1,315; 2018-2022, $5,751.

Investments

The Company’s primary objective is to achieve returns sufficient to meet future benefit obligations. It seeks to generate above market returns by investing in more volatile asset classes such as equities while at the same time controlling risk with allocations to more stable asset classes like fixed income.

U.S. Plans

The Company’s U.S. plans comprise 70% of total benefit plan investments, based on September 30, 2012 market values, and have a target asset mix of 65% equities and 35% fixed income. This mix was established based on an analysis of projected benefit payments and estimates of long-term returns, volatilities and correlations for various asset classes. The mix is reviewed periodically by the named fiduciary of the plans and is intended to provide above-market returns at an acceptable level of risk over time.

The established target mix includes ranges by which the target may deviate in order to accommodate normal market fluctuations. Routine cash flows are used to bring the mix closer to target and a move outside of the acceptable ranges will signal the potential for a formal rebalancing, based on an assessment of current market conditions and transaction costs. Any tactical deviations from the established asset mix require the approval of the named fiduciary.

The U.S. plans may enter into both exchange traded and non-exchange traded derivative transactions in order to manage interest rate exposure, volatility, term structure of interest rates, and sector and currency exposures within the fixed income portfolios. The Company has established minimum credit quality standards for counterparties in such transactions.

The following table provides the fair value measurements of U.S. plan assets, as well as the measurement techniques and inputs utilized to measure fair value of these assets, at September 30, 2012 and 2011.


	Total U.S. Plan Asset Balances at September 30, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fixed Income:
Mortgage and asset-backed securities(A)	$	137,064	$	—	$	137,064	$	—
Corporate bonds(B)		106,981		—		106,981		—
Government and agency-U.S.(C)		74,641		57,401		17,240		—
Government and agency-Foreign(D)		5,696		—		5,696		—
Other(E)		8,964		—		8,964		—
Equity securities(F)		724,447		639,646		84,801		—
Cash and cash equivalents(G)		49,099		49,099		—		—

Fair value of plan assets	$	1,106,892	$	746,146	$	360,746	$	—


	Total U.S. Plan Asset Balances at September 30, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fixed Income:
Mortgage and asset-backed securities(A)	$	165,042	$	—	$	165,042	$	—
Corporate bonds(B)		111,954		—		111,954		—
Government and agency-U.S.(C)		41,885		26,577		15,308		—
Government and agency-Foreign(D)		6,836		—		6,836		—
Other(E)		8,277		—		8,277		—
Equity securities(F)		562,047		435,847		126,200		—
Cash and cash equivalents(G)		37,237		37,237		—		—

Fair value of plan assets	$	933,278	$	499,661	$	433,617	$	—

(A)	Values are based upon a combination of observable prices, independent pricing services and relevant broker quotes.

(B)	Values are based upon comparable securities with similar yields and credit ratings.

(C)	Values of instruments classified as Level 1 are based on the closing price reported on the major market on which the investments are traded. Values of instruments classified as Level 2 are based upon quoted market prices from observable pricing sources.

(D)	Values are based upon quoted market prices from observable pricing sources.

(E)	Classification contains various immaterial investments and valuation varies by investment type. Values are primarily based upon quoted market prices from observable pricing sources.

(F)

Values of instruments classified as Level 1 are based on the closing price reported on the major market on which the investments are traded. Values of instruments classified as Level 2 are based on the net asset value provided by the fund administrator, which is based on the value of the underlying assets owned by the fund, less its liabilities and then divided by the number of fund units outstanding.

(G)	Values are based upon quoted market prices or broker/dealer quotations.

The U.S. portion of fixed income assets is invested in mortgage-backed, corporate, government and agency and asset-backed instruments. Mortgage-backed securities consist of residential mortgage pass-through certificates. Corporate bonds are diversified across industry and sector and, while consisting primarily of investment grade instruments, include an allocation to high-yield debt as well. U.S. government investments consist of obligations of the U.S. Treasury and its agencies.

The non-U.S. portion of fixed income investments consists primarily of corporate bonds in developed markets but includes an allocation to emerging markets debt as well. The value of derivative instruments is not material and is included in the “Other” category provided in the table above.

Equity securities included within the plans’ assets consist of publicly-traded U.S. and non-U.S. equity securities. In order to achieve appropriate diversification, these portfolios are allocated among multiple asset managers and invested across market sectors, investment styles, capitalization weights and geographic regions.

A portion of the U.S. plans’ assets consists of investments in cash and cash equivalents, primarily to accommodate liquidity requirements relating to trade settlement and benefit payment activity.

Foreign Plans

Foreign plan assets comprise 30% of the Company’s total benefit plan assets, based on market value at September 30, 2012. Such plans have local independent fiduciary committees, with responsibility for development and oversight of investment policy, including asset allocation decisions. In making such decisions, consideration is given to local regulations, investment practices and funding rules.

The following table provides the fair value measurements of foreign plan assets, as well as the measurement techniques and inputs utilized to measure fair value of these assets, at September 30, 2012 and 2011.


	Total Foreign Plan Asset Balances at September 30, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fixed Income:
Corporate bonds(A)	$	36,612	$	—	$	36,612	$	—
Government and agency-U.S.(B)		3,230		3,230		—		—
Government and agency-Foreign(C)		75,667		35,317		40,350		—
Equity securities(D)		244,418		229,672		14,649		97
Cash and cash equivalents(E)		17,443		17,443		—		—
Real estate(F)		9,058		—		6,017		3,041
Insurance contracts(G)		80,022		—		—		80,022

Fair value of plan assets	$	466,450	$	285,662	$	97,628	$	83,160


	Total Foreign Plan Asset Balances at September 30, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fixed Income:
Corporate bonds(A)	$	34,905	$	—	$	34,905	$	—
Government and agency-U.S.(B)		1,065		1,065		—		—
Government and agency-Foreign(C)		77,949		36,687		41,262		—
Equity securities(D)		215,309		201,325		13,726		258
Cash and cash equivalents(E)		1,191		1,191		—		—
Real estate(F)		10,688		—		—		10,688
Insurance contracts(G)		78,345		—		—		78,345

Fair value of plan assets	$	419,452	$	240,268	$	89,893	$	89,291

(A)	Values are based upon comparable securities with similar yields and credit ratings.

(B)	Values are based on the closing price reported on the major market on which the investments are traded.

(C)	Values of instruments classified as Level 1 are based on the closing price reported on the major market on which the investments are traded. Values of instruments classified as Level 2 are based upon quoted market prices from observable pricing sources.

(D)

(E)	Values are based upon quoted market prices or broker/dealer quotations.

(F)	Values represent the estimated fair value based on the fair value of the underlying investment value or cost, adjusted for any accumulated earnings or losses.

(G)	Values approximately represent cash surrender value.

Fixed income investments include corporate, U.S. government and non-U.S. government securities. Equity securities included in the foreign plan assets consist of publicly-traded U.S. and non-U.S. equity securities. Real estate investments consist of investments in funds holding an interest in real properties. The foreign plans also hold a portion of assets in cash and cash equivalents, in order to accommodate liquidity requirements.

The following table summarizes the changes, for the years ended September 30, 2012 and 2011, in the fair value of foreign pension assets measured using Level 3 inputs:


	Equity Securities			Real Estate			Insurance Contracts			Total Assets
Balance at September 30, 2010	$	267		$	9,486		$	62,244		$	71,997
Actual return on plan assets:
Relating to assets held at September 30, 2010		(4	)		46			2,613			2,655
Purchases, sales and settlements, net		—			1,363			14,710			16,073
Transfers in (out) from other categories		—			—			92			92
Exchange rate changes		(5	)		(207	)		(1,314	)		(1,526	)

Balance at September 30, 2011	$	258			10,688		$	78,345		$	89,291
Actual return on plan assets:
Relating to assets held at September 30, 2011		(137	)		(22	)		2,953			2,794
Purchases, sales and settlements, net		(16	)		(1,648	)		1,488			(176	)
Transfers in (out) from other categories		—			(5,879	)		—			(5,879	)
Exchange rate changes		(8	)		(98	)		(2,764	)		(2,870	)

Balance at September 30, 2012	$	97			3,041		$	80,022		$	83,160

Postemployment Benefits

The Company utilizes a service-based approach in accounting for most of its postemployment benefits. Under this approach, the costs of benefits are recognized over the eligible employees’ service period. The Company has elected to delay recognition of actuarial gains and losses that result from changes in assumptions.

Postemployment benefit costs for the years ended September 30 included the following components:


	2012			2011			2010
Service cost	$	16,399		$	13,327		$	11,409
Interest cost		5,639			5,054			4,379
Amortization of prior service credit		(1,697	)		(1,697	)		(1,697	)
Amortization of loss		15,639			10,490			7,777

	$	35,980		$	27,174		$	21,868

The changes in benefit obligation for these postemployment benefits were as follows:


	Postemployment benefits
	2012			2011
Change in benefit obligation:
Beginning obligation	$	137,575		$	112,751
Service cost		16,399			13,327
Interest cost		5,639			5,054
Benefits paid		(51,989	)		(42,572	)
Actuarial loss		55,025			49,015

Benefit obligation at September 30	$	162,649		$	137,575

The postemployment benefit plan obligations as of September 30, 2012 and 2011 were unfunded. The amounts recognized in Accumulated other comprehensive (loss) income before income taxes for the net actuarial loss was $157,525 and $116,442 at September 30, 2012 and 2011, respectively. The estimated net actuarial loss that will be amortized from the Accumulated other comprehensive (loss) income into postemployment benefit cost over the next fiscal year is $19,210.

Savings Incentive Plan

The Company has a voluntary defined contribution plan (“Savings Incentive Plan”) covering eligible employees in the United States. The Company matches contributions for eligible employees to 75% of employees’ contributions, up to a maximum of 4.5% of each employee’s eligible compensation. The cost of the Savings Incentive Plan was $36,281 in 2012, $36,535 in 2011 and $34,097 in 2010. The Company guarantees employees’ contributions to the fixed income fund of the Savings Incentive Plan, which consists of diversified money market instruments. The amount guaranteed was $254,060 at September 30, 2012.

Acquisitions

12 Months Ended

Sep. 30, 2012

Acquisitions

Note 9 — Acquisitions

Sirigen

On August 24, 2012, the Company acquired a 100% interest in Sirigen Group Limited (“Sirigen”), a developer of unique polymer dyes that are used in flow cytometry. The fair value of consideration transferred was $64,433 which consisted of $52,533 in cash, net of $878 in cash acquired, as well as $11,900 in contingent consideration that will be paid based upon the achievement of certain development milestones. The fair value of the contingent consideration was estimated using a probability-weighted discounted cash flow model that was based upon the probabilities assigned to the contingent events. This acquisition is intended to complement the Company’s existing instrument platforms and reagent portfolio and allow the Company to differentiate its life science research reagent portfolio and add value for customers.

The acquisition was accounted for under the acquisition method of accounting for business combinations and Sirigen’s results of operations were included in the Biosciences segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. These fair values are based upon the information available as of September 30, 2012 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available.


Patent	$	10,700
Developed technology		19,100
Acquired in-process research and development		11,600
Deferred tax assets		2,639
Other		664

Total identifiable assets acquired		44,703

Deferred tax liabilities		(15,734	)
Other		(1,150	)

Total liabilities assumed		(16,884	)

Net identifiable assets acquired		27,819
Goodwill		36,614

Net assets acquired	$	64,433

The patent asset of $10,700 represents Sirigen’s enabling technology that underlies both developed technology and in-process research and development projects. The patent’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 20%. The patent will be amortized over an expected useful life of 14 years. The developed technology asset of $19,100 represents Sirigen’s developed polymer technology. The developed technology’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 22%. The developed technology will be amortized over an expected useful life of 16 years, the period over which the developed technology is expected to generate substantial cash flows.

The acquired in-process research and development asset of $11,600 represents development projects of additional polymer dyes. The probability of success associated with the projects, based upon the applicable technological and commercial risk, was assumed to be 80% or more, depending upon the project. The projects’ fair value was determined based on the present value of projected cash flows utilizing an income approach and a risk-adjusted discount rate of 24% to 26%, depending upon the project.

The $36,614 of goodwill was allocated to the Biosciences segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition includes, among other things, the synergies expected from complementing the Company’s instrument and reagent portfolio with the capabilities of Sirigen’s advanced polymer technology. Additionally, synergies are expected to result from expanding the market for the polymer technology through the Company’s broader global sales organization and customer relationships. No portion of this goodwill will be deductible for tax purposes. The Company recognized $1,300 of acquisition-related costs that were expensed in the current year-to-date period and reported in the Consolidated Statements of Income as Selling and administrative.

KIESTRA

On February 9, 2012, the Company acquired a 100% interest in KIESTRA Lab Automation BV (“KIESTRA”), a Netherlands-based company that manufactures and sells innovative lab automation solutions for the microbiology lab. The fair value of consideration transferred was $59,457 which consisted of $50,891 in cash, net of $5,176 in cash acquired, as well as $8,566 in contingent consideration that will be paid based upon the achievement of certain development milestones and performance targets. The fair value of the contingent consideration was estimated using a probability-weighted discounted cash flow model that was based upon the probabilities assigned to the contingent events. This acquisition is intended to complement the Company’s existing portfolio of microbiology platforms, reagents and supplies and allow the Company to offer innovative full lab automation solutions to hospitals and laboratories worldwide.

The acquisition was accounted for under the acquisition method of accounting for business combinations and KIESTRA’s results of operations were included in the Diagnostic segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. These fair values are based upon the information available as of September 30, 2012 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available.


Developed technology	$	12,581
Acquired in-process research and development		7,416
Other intangibles		4,767
Property, plant and equipment		5,373
Other		10,348

Total identifiable assets acquired		40,485

Deferred tax liabilities		(6,191	)
Other		(8,357	)

Total liabilities assumed		(14,548	)

Net identifiable assets acquired		25,937
Goodwill		33,520

Net assets acquired	$	59,457

The developed technology asset of $12,581 represents KIESTRA’s developed lab automation solutions. The technology’s fair value was determined based on the present value of projected cash flows utilizing an income approach which reflected a risk-adjusted discount rate of 14.5%. The technology will be amortized over an expected useful life of 10 years, the period over which the technology is expected to generate substantial cash flows.

The acquired in-process research and development asset of $7,416 represents development projects of the existing lab automation technology for use in diagnostic applications. The probability of success associated with the projects, based upon the applicable technological and commercial risk, was assumed to be 100%. The projects’ fair value was determined based on the present value of projected cash flows utilizing an income approach and a risk-adjusted discount rate of 15.5%. The Company expects partial completion of the projects to occur during fiscal year 2013, and full completion of the projects is expected to occur in fiscal year 2014.

The $33,520 of goodwill was allocated to the Diagnostics segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition includes, among other things, the value of integrating the Company’s broad clinical microbiology portfolio through automation for maximum workflow efficiency. Synergies are expected to result from the alignment of KIESTRA’s automated instrumentation technologies with the Company’s existing portfolio of microbiology platforms, reagents and supplies. Additionally, synergies are expected to result from expanding the market for full lab automation solutions into new geographic regions through the Company’s broader global sales organization and customer relationships. No portion of this goodwill will be deductible for tax purposes. The Company recognized $2,000 of acquisition-related costs that were expensed in the current year-to-date period and reported in the Consolidated Statements of Income as Selling and administrative.

Carmel Pharma

During the fourth quarter of fiscal year 2011, the Company acquired 100% of the outstanding shares of Carmel Pharma, AB (“Carmel”), a Swedish company that manufactures the BD PhaSeal™ System, a closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials. The fair value of consideration transferred totaled $287,111, net of $5,047 in cash acquired. The Company intends for this acquisition to expand the scope of its healthcare worker safety emphasis, especially in the area of parenteral medication delivery.

The acquisition was accounted for under the acquisition method of accounting for business combinations and Carmel’s results of operations were included in the Medical segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. These fair values are based upon the information available as of September 30, 2012 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available.


Product rights	$	161,800
Customer relationships		4,100
Deferred tax assets		2,135
Other		32,001

Total identifiable assets acquired		200,036

Deferred tax liabilities		(45,035	)
Other		(13,276	)

Total liabilities assumed		(58,311	)

Net identifiable assets acquired		141,725
Goodwill		145,386

Net assets acquired	$	287,111

The $145,386 of goodwill was allocated to the Medical segment. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer as well as from intangible assets that do not qualify for separate recognition. The goodwill recognized as a result of this acquisition includes, among other things, the value of expanding the Company’s market for healthcare worker safety products. Synergies are expected to result from the alignment of Carmel’s product offerings in the closed-system drug transfer device market segment with the Company’s existing healthcare worker safety focus, global customer reach, and operational structure. No portion of this goodwill will be deductible for tax purposes. The Company recognized $5,250 of acquisition-related costs that were expensed in the current year-to-date period and reported in the Consolidated Statements of Income as Selling and administrative.

Accuri

On March 17, 2011, the Company acquired 100% of the outstanding shares of Accuri Cytometers, Inc. (“Accuri”), a company that develops and manufactures personal flow cytometers for researchers. The fair value of consideration transferred totaled $204,970, net of $3,112 in cash acquired.

The Company intends for this acquisition to expand its presence into the emerging affordable personal flow cytometer space. The acquisition is also expected to help expand the use of flow technology by researchers in developing regions where ease of use is critical, as well as by researchers in scientific disciplines that have not traditionally used flow cytometry, such as environmental studies.

The acquisition was accounted for under the acquisition method of accounting for business combinations and Accuri’s results of operations were included in the Biosciences segment’s results from the acquisition date. Pro forma information is not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. These fair values are based upon the information available as of September 30, 2012 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available.


Developed technology	$	111,500
Acquired in-process research and development		42,300
Other intangibles		2,850
Deferred tax assets		10,596
Other		8,176

Total identifiable assets acquired		175,422

Deferred tax liabilities		(59,188	)
Other		(4,728	)

Total liabilities assumed		(63,916	)

Net identifiable assets acquired		111,506
Goodwill		93,464

Net assets acquired	$	204,970

The acquired in-process research and development asset of $42,300 represents development of the personal flow cytometry technology that will enable its use in the clinical market. The fair value of this project was determined based on the present value of projected cash flows utilizing an income approach reflecting an appropriate risk-adjusted discount rate based on the applicable technological and commercial risk of the project. The launch of the personal flow cytometer for use in the clinical market is expected to occur in fiscal year 2013, subject to regulatory approvals.

The $93,464 of goodwill was allocated to the Biosciences segment. The goodwill recognized as a result of this acquisition includes, among other things, the value of broadening the Company’s potential market for flow cytometry technology. No portion of this goodwill will be deductible for tax purposes. The Company recognized $900 of acquisition-related costs that were expensed in the current year-to-date period and reported in the Consolidated Statements of Income as Selling and administrative.

HandyLab

On November 19, 2009, the Company acquired 100% of the outstanding shares of HandyLab, Inc. (“HandyLab”), a company that develops and manufactures molecular diagnostic assays and automation platforms. The fair value of consideration transferred totaled $277,610, net of cash acquired, which consisted of the following:


Cash	$	274,756
Settlement of preexisting relationship		2,854	(A)

Total	$	277,610

(A)	The acquisition effectively settled a prepaid asset associated with a pre-existing relationship with HandyLab, as discussed in further detail below.

HandyLab developed and commercialized a flexible automated platform (“Jaguar Plus”) for performing molecular diagnostics which complements the Company’s molecular diagnostics offerings, specifically in the area of healthcare-associated infections. The Company is placing its BD GeneOhm^TM molecular assays onto the HandyLab platform and intends to market them as the new BD Max^TM System. The Company intends for this acquisition to allow further expansion of the BD molecular diagnostic menu and the achievement of revenue and cost synergies.

The acquisition was accounted for under the acquisition method of accounting for business combinations and HandyLab’s results of operations were included in the Diagnostics segment’s results from the acquisition date. Pro forma information was not provided as the acquisition did not have a material effect on the Company’s consolidated results. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date. These fair values are based upon the information available as of September 30, 2012 and may be adjusted should further information regarding events or circumstances existing at the acquisition date become available.


Acquired in-process research and development	$	169,000
Deferred tax assets		23,000
Other		8,843

Total identifiable assets acquired		200,843

Deferred tax liabilities		(64,221	)
Other		(6,468	)

Total liabilities assumed		(70,689	)

Net identifiable assets acquired		130,154
Goodwill		147,456

Net assets acquired	$	277,610

The acquired in-process research and development assets of $169,000 consisted of two projects that were still in development at the acquisition date: Platform technology for $26,000 and Jaguar Plus technology for $143,000. The Platform technology is incorporated into an automated platform that performs molecular diagnostics on certain specimens. The Jaguar Plus technology incorporates the Platform technology as well as additional technology to perform assays or molecular tests. The fair values of these projects were determined based on the present value of projected cash flows utilizing an income approach reflecting the appropriate risk-adjusted discount rate based on the applicable technological and commercial risk of each project. During the third quarter of fiscal year 2010, the Platform technology project was completed, and, as a result, the $26,000 associated with this project was reclassified from Other Intangibles, Net to Core and Developed Technology, Net and is being amortized over its estimated useful life of 20 years. Substantially all of the cash flows expected to be generated from the technology will occur over this period. During the fourth quarter of fiscal year 2012, the Jaguar Plus Platform technology project was completed, and, as a result, the $143,000 associated with this project was reclassified from Other Intangibles, Net to Core and Developed Technology, Net and is being amortized over its estimated useful life of 14 years. Substantially all of the cash flows expected to be generated from the technology will occur over this period.

The $147,456 of goodwill was allocated to the Diagnostics segment. The primary item that generated goodwill is the value of the Company’s access to HandyLab’s flexible automated platform and expected synergies. No portion of this goodwill is expected to be deductible for tax purposes. The Company recognized $2,500 of acquisition-related costs that were expensed in the current period and reported in the Consolidated Statements of Income as Selling and administrative.

In May 2009, the Company entered into a twenty-year product development and supply agreement with HandyLab. This agreement provided the Company with access and distribution rights to HandyLab’s proprietary technology. Upon executing this agreement, the Company recorded an initial payment for exclusive distribution rights over a twelve-year term. At the acquisition date, the unamortized balance of the recognized prepaid was $2,854. The Company’s acquisition of HandyLab effectively settled the preexisting product development and supply agreement. Because the terms of the contract were determined to represent fair value at the acquisition date, the Company did not record any gain or loss separately from the acquisition.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Divestitures

12 Months Ended

Sep. 30, 2012

Divestitures

Note 10 — Divestitures

On April 10, 2012, the Company signed a definitive agreement to sell its BD Biosciences — Discovery Labware unit, excluding its Advanced Bioprocessing platform, to Corning Incorporated, the world leader in specialty glass and ceramics. This sale was completed on October 31, 2012 and gross cash proceeds from the sale were approximately $728,000, subject to post-closing adjustments. The Company expects to record a gain on the sale within discontinued operations in the first quarter of fiscal year 2013.

Assets held for sale associated with the Discovery Labware disposal group included the following at September 30, 2012:


Inventory	$	49,818
Other current assets		449
Property, plant and equipment, net		76,732
Other intangibles, net		8,858

Assets held for sale	$	135,857

In the fourth quarter of fiscal year 2010, the Company sold the Ophthalmic Systems unit and the surgical blades, critical care and extended dwell catheter product platforms for $270,000. The Company recognized a pre-tax gain on sale from all of these divestitures of $146,478.

The results of operations associated with the Discovery Labware disposal group, Ophthalmic Systems unit, surgical blade platform and critical care platform are reported as discontinued operations for all periods presented in the accompanying Consolidated Statements of Income and Cash Flows and related disclosures. The Company agreed to perform contract manufacturing for a defined period after the sale of the extended dwell catheter product platform. The conditions for reporting the results of this platform in discontinued operations were not met and as such, the associated results of operations were reported within continuing operations and $18,197 of the gain on sale from the 2010 divestitures was recognized in Other income (expense).

Results of discontinued operations, which were primarily associated with the Discovery Labware disposal group, for the years ended September 30 were as follows:


	2012		2011		2010
Revenues	$	238,376	$	248,016	$	415,668

Income from discontinued operations before income taxes		91,667		105,310		276,392
Less income tax provision		31,268		35,199		73,626

Income from discontinued operations, net	$	60,399	$	70,111	$	202,766

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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+ Details