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)
Six Months Year Ended September 30 Ended March ---------------------------------------------------------------- 31, 1998 1997 1996 1995 1994 1993 -------------- ------- ----------- --------- ----------- ----------- Income Before Income Taxes and Cumulative Effect of Accounting Changes $ 220.6 $ 422.6 $ 393.7 $ 349.6 $ 296.2 $ 222.9 Undistributed (Earnings)/Losses of Less than 50%-Owned Companies Carried at Equity - - - - - 0.2 Net Capitalized Interest (0.1) 3.5 4.5 7.2 5.7 3.3 Fixed Charges 38.7 72.1 75.8 80.5 84.0 90.9 ======== ======== ========== =========== =========== ============ Earnings as Adjusted $ 259.2 $ 498.2 $ 474.0 $ 437.3 $ 385.9 $ 317.3 ======== ======== ========== =========== =========== ============ Fixed Charges: Interest Cost (1) $ 31.4 $ 57.6 $ 59.5 $ 64.7 $ 68.4 $ 74.9 Interest Allocable to Rents (2) 7.0 14.0 15.0 15.3 15.0 15.5 Amortization of Debt Expense 0.3 0.5 1.3 0.5 0.6 0.5 ======== ======== ========== =========== =========== ============ Fixed Charges $ 38.7 $ 72.1 $ 75.8 $ 80.5 $ 84.0 $ 90.9 ======== ======== ========== =========== =========== ============ Ratio of Earnings to Fixed Charges 6.70 6.91 6.25 5.43 4.59 3.49 ======== ======== ========== =========== =========== ============
(1) Includes interest expense and interest capitalized in accordance with FASB Statement No. 34. (2) Represents an appropriate portion of rental expense.