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)
(Unaudited) Year Ended September 30,
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Nine
Months
Ended
June 30,
Earnings: 1996 1995 1994 1993 1992 1991
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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
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Earnings as Adjusted................ $333.9 $437.3 $385.9 $317.3 $353.4 $346.9
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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
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Fixed Charges....................... $ 57.4 $ 80.5 $ 84.0 $ 90.9 $ 96.0 $ 97.9
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Ratio of Earnings to Fixed Charges 5.82 5.43 4.59 3.49 3.68 3.54
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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.