Exhibit 12 ---------- BECTON, DICKINSON AND COMPANY CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (All Amounts in Millions Except for Ratio of Earnings to Fixed Charges)
(Unaudited) Year Ended September 30, ----------- --------------------------------------------------------------------- Nine Months Ended June 30, Earnings: 1996 1995 1994 1993 1992 1991 ------- ---- ---- ---- ---- ---- Income Before Income Taxes and Cumulative Effect of Accounting Changes............................. $272.9 $349.6 $296.2 $222.9 $269.5 $267.3 Undistributed (Earnings)/Losses of Less Than 50%-Owned Companies Carried at Equity................... - - - 0.2 (1.2) (6.7) Net Capitalized Interest............. 3.6 7.2 5.7 3.3 (10.9) (11.6) Fixed Charges........................ 57.4 80.5 84.0 90.9 96.0 97.9 ------ ------ ------ ------ ------ ------ Earnings as Adjusted................ $333.9 $437.3 $385.9 $317.3 $353.4 $346.9 ====== ====== ====== ====== ====== ====== Fixed Charges: Interest Cost (1)................... $ 44.8 $ 64.7 $ 68.4 $ 74.9 $ 81.8 $ 84.4 Interest Allocable to Rents (2)..... 11.5 15.3 15.0 15.5 13.7 13.1 Amortization of Debt Expense........ 1.1 0.5 0.6 0.5 0.5 0.4 ------ ------ ------ ------ ------ ------ Fixed Charges....................... $ 57.4 $ 80.5 $ 84.0 $ 90.9 $ 96.0 $ 97.9 ====== ====== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 5.82 5.43 4.59 3.49 3.68 3.54 ====== ====== ====== ====== ====== ======
(1) Includes interest expense and interest capitalized in accordance with FASB Statement No. 34. (2) Represents an appropriate portion of rental expense.