EXHIBIT 11
BECTON, DICKINSON AND COMPANY
COMPUTATION OF EARNINGS PER SHARE
YEARS ENDED SEPTEMBER 30, 1996, 1995 AND 1994
(ALL AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1996 1995 1994
- ---------------------------------------------------------------------------------
PRIMARY EARNINGS PER SHARE
--------------------------
Net income......................................... $283,555 $251,696 $227,174
Less preferred stock dividends..................... (3,484) (3,596) (3,711)
-------- -------- --------
Net income applicable to common stock.............. $280,071 $248,100 $223,463
======== ======== ========
Shares: (A)
Average shares outstanding...................... 126,709 134,144 144,474
Add dilutive stock equivalents from stock plans. 6,086 4,258 2,192
-------- -------- --------
Weighted average number of common and common
equivalent shares outstanding during the year.. 132,795 138,402 146,666
======== ======== ========
Earnings per share (A)............................. $ 2.11 $ 1.79 $ 1.52
======== ======== ========
FULLY DILUTED EARNINGS PER SHARE
--------------------------------
Net income applicable to common stock.............. $280,071 $248,100 $223,463
Add preferred stock dividends using the "if
converted" method................................. 3,484 3,596 3,711
Less additional ESOP contribution, using the "if
converted" method................................. (1,288) (1,420) (1,540)
-------- -------- --------
Net income for fully diluted earnings per share.... $282,267 $250,276 $225,634
======== ======== ========
Shares: (A)
Average shares outstanding...................... 126,709 134,144 144,474
Add:
Dilutive stock equivalents from stock plans... 6,667 5,450 3,898
Shares issuable upon conversion of preferred
stock........................................ 2,871 2,968 3,056
-------- -------- --------
Weighted average number of common shares used in
calculating fully diluted earnings per share... 136,247 142,562 151,428
======== ======== ========
Fully diluted earnings per share (A)............... $ 2.07 $ 1.76 $ 1.49
======== ======== ========
- --------
(A) All share and per share data reflect the two-for-one stock split, the
shares for which were distributed on August 15, 1996.