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
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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
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Earnings as Adjusted $ 259.2 $ 498.2 $ 474.0 $ 437.3 $ 385.9 $ 317.3
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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
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Fixed Charges $ 38.7 $ 72.1 $ 75.8 $ 80.5 $ 84.0 $ 90.9
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Ratio of Earnings to Fixed Charges 6.70 6.91 6.25 5.43 4.59 3.49
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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.