Form: 8-K

Current report filing

April 29, 2010

Documents

Exhibit 99.2
Reconciliations of non-GAAP financial measures
(All figures are rounded. Totals may not add up due to rounding)
Second quarter and first six months fiscal year (“FY”) 2009 adjusted diluted earnings per share from continuing operations (“EPS”)
                 
    Second Quarter     First Six Months  
Reported EPS
   $ 1.05     $ 2.30  
Litigation charge (1)
   $ 0.11     $ 0.11  
 
            
Adjusted EPS
   $ 1.17     $ 2.41  
(1)   Represents the charge relating to the pending settlement with the direct purchaser plaintiffs (which includes BD’s distributors) in the antitrust class actions.
Second quarter and first six months FY 2010 adjusted EPS
                 
    Second Quarter     First Six Months  
Reported EPS
   $ 1.24     $ 2.53  
Tax charge (1)
   $ 0.04     $ 0.04  
 
            
Adjusted EPS
   $ 1.27     $ 2.57  
(1)   Represents the charge related to health care reform impacting Medicare Part D reimbursements.
Full year FY 2009 adjusted EPS
         
Reported EPS
   $ 4.92  
Litigation charge (1)
   $ 0.11  
Tax adjustment (2)
   $ (0.08 )
 
      
Adjusted EPS
   $ 4.95  
 
(1)   Represents the charge relating to the pending settlement with the direct purchaser plaintiffs (which includes BD’s distributors) in the antitrust class actions.
 
(2)   Represents the tax benefit relating to various tax settlements in multiple jurisdictions.

 

 

Second quarter FY2010 foreign currency-neutral EPS growth
                                                                         
   
                                                Total   Foreign   Foreign
                            Q2   Impact of   Q2   unfavorable   currency   currency
                            FY2009   foreign   FY2010   foreign   neutral   neutral
    Q2   Q2   Change   hedge   currency   hedge   currency   growth   growth
    FY2010   FY2009   ($)   gain   translation   loss   impact   ($)   (%)
Adjusted EPS
   $ 1.27     $ 1.17     $ 0.10       (0.08 )     0.06       (0.07 )     (0.09 )     0.19       16.2 %
   
First six months FY2010 foreign currency-neutral EPS growth
                                                                         
   
                            FY2009                       Total   Foreign   Foreign
                            foreign           Impact of           unfavorable   currency   currency
                            currency   FY2009   foreign   FY2010   foreign   neutral   neutral
                    Change   holding   hedge   currency   hedge   currency   growth   growth
    FY2010   FY2009   ($)   gain   gain   translation   loss   impact   ($)   (%)
Adjusted EPS
   $ 2.57     $ 2.41     $ 0.16       (0.09 )     (0.16 )     0.19       (0.11 )     (0.18 )     0.34       14.1 %
   
FY 2010 EPS Outlook
                                 
            Estimated growth
(based on adjusted
FY2009 EPS of
$4.95)		     Estimated foreign
currency neutral
growth		     Estimated
impact of foreign
currency translation		  
EPS guidance — reported
   $ 5.01-$5.11       1-3 %     7-9 %     –6 %
Tax charge (1)
   $ .04       1 %     1 %        
 
                        
EPS guidance — as adjusted
   $ 5.05-$5.15       2-4 %     8-10 %     –6 %
     (1) Represents impact of charge related to health care reform impacting Medicare Part D reimbursements.
     The FY2010 impact of –6% represents the year-on-year change due to estimated foreign currency translation, including hedging activities, as follows:
         
FY2009 Items:
        
Actual hedge gain in FY2009
   $ (0.26 )
Q1 FY2009 foreign currency holding gain
   $ (0.09 )
FY2010 Activity: *
        
Estimated effect of foreign currency translation
   $ 0.17  
Estimated hedge losses
   $ (0.12 )
 
      
Total Year-on-Year Impact
   $ (0.30 )
Impact on EPS Growth
   $ (0.30)/$4.95 ~ –6 %
 
*   Estimated impact is based on the foreign exchange rates established for BD’s most recent fiscal year 2010 projection.