EXHIBIT 12
Becton, Dickinson and Company
Calculation of Ratio of Earnings to Fixed Charges
(All Amounts in Millions except for the Ratio of Earnings to Fixed Charges)
(Unaudited)
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Three Months
Ended Dec 31, Year Ended September 30,
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2002 2002 2001 2000 1999 1998
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Earnings:
Income Before Income Taxes and Cumulative
Effect of Change in Accounting Principle $149.0 $628.6 $576.8 $519.9 $372.7 $340.9
Undistributed (Earnings)/Losses of Less Than
50%-Owned Companies Carried at Equity - - - - - -
Net Capitalized Interest 1.2 (3.0) (17.1) (15.7) (6.4) 2.0
Fixed Charges 14.6 65.1 98.5 122.3 102.0 84.3
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Earnings as Adjusted $164.8 $690.7 $658.2 $626.5 $468.3 $427.2
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Fixed Charges:
Interest Cost (1) $12.9 $58.2 $90.2 $111.5 $91.4 $75.6
Interest Allocable to Rents (2) 1.6 6.6 7.9 10.4 10.1 8.1
Amortization of Debt Expense 0.1 0.3 0.4 0.4 0.5 0.6
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Fixed Charges $14.6 $65.1 $98.5 $122.3 $102.0 $84.3
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Ratio of Earnings to Fixed Charges 11.29 10.61 6.68 5.12 4.59 5.07
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(1) Includes interest expense and interest capitalized in accordance with FASB
Statement No. 34.
(2) Represents an appropriate portion of rental expense.