Exhibit 12
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BECTON, DICKINSON AND COMPANY
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(All Amounts in Millions Except for
Ratio of Earnings to Fixed Charges)
Year Ended September 30,
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Earnings: 1994 1993 1992 1991 1990
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Income Before Income Taxes and
Cumulative Effect of Accounting
Changes............................ $296.2 $222.9 $269.5 $267.3 $274.1
Undistributed (Earnings)/Losses of
Less Than 50%-Owned Companies
Carried at Equity.................. - 0.2 (1.2) (6.7) (7.0)
Net Capitalized Interest............ 5.7 3.3 (10.9) (11.6) (18.9)
Fixed Charges....................... 84.0 90.9 96.0 97.9 97.0
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Earnings as Adjusted............... $385.9 $317.3 $353.4 $346.9 $345.2
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Fixed Charges:
Interest Cost (1).................. $ 68.4 $ 74.9 $ 81.8 $ 84.4 $ 85.0
Interest Allocable to Rents (2).... 15.0 15.5 13.7 13.1 11.5
Amortization of Debt Expense....... 0.6 0.5 0.5 0.4 0.5
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Fixed Charges...................... $ 84.0 $ 90.9 $ 96.0 $ 97.9 $ 97.0
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Ratio of Earnings to Fixed Charges.. 4.59 3.49 3.68 3.54 3.56
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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.