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, ----------- ------------------------------------------------------------------- Six Months Ended March 31, Earnings: 1997 1996 1995 1994 1993 1992 ------- ---- ---- ---- ---- ---- 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 ------ ------ ------ ------ ------ ------ Earnings as Adjusted................ $234.9 $474.0 $437.3 $385.9 $317.3 $353.4 ====== ====== ====== ====== ====== ====== 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 ------ ------ ------ ------ ------ ------ Fixed Charges....................... $ 35.0 $ 75.8 $ 80.5 $ 84.0 $ 90.9 $ 96.0 ====== ====== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 6.71 6.25 5.43 4.59 3.49 3.68 ====== ====== ====== ====== ====== ======
(1) Includes interest expense and interest capitalized in accordance with FASB Statement No. 34. (2) Represents an appropriate portion of rental expense.