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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Six
Months
Ended
March 31,
Earnings: 1997 1996 1995 1994 1993 1992
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Income Before Income Taxes and
Cumulative Effect of Accounting
Changes............................. $198.3 $393.7 $349.6 $296.2 $222.9 $269.5
Undistributed (Earnings)/Losses of
Less Than 50%-Owned Companies
Carried at Equity................... - - - - 0.2 (1.2)
Net Capitalized Interest............. 1.6 4.5 7.2 5.7 3.3 (10.9)
Fixed Charges........................ 35.0 75.8 80.5 84.0 90.9 96.0
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Earnings as Adjusted................ $234.9 $474.0 $437.3 $385.9 $317.3 $353.4
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Fixed Charges:
Interest Cost (1)................... $ 27.2 $ 59.5 $ 64.7 $ 68.4 $ 74.9 $ 81.8
Interest Allocable to Rents (2)..... 7.5 15.0 15.3 15.0 15.5 13.7
Amortization of Debt Expense........ 0.3 1.3 0.5 0.6 0.5 0.5
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Fixed Charges....................... $ 35.0 $ 75.8 $ 80.5 $ 84.0 $ 90.9 $ 96.0
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Ratio of Earnings to Fixed Charges 6.71 6.25 5.43 4.59 3.49 3.68
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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.