EXHIBIT 12.1
Published on March 1, 2018
Exhibit 12.1
Becton, Dickinson and Company
Calculation of Ratio of Earnings to Fixed Charges
(All Amounts in Millions except for the Ratio of Earnings to Fixed Charges)
| Three Months Ended December 31, |
Year Ended September 30 | |||||||||||||||||||||||
| Historical | Historical | Historical | Historical | Historical | Historical | |||||||||||||||||||
|
2017 |
2017 |
2016 |
2015 |
2014 |
2013 |
|||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income from Continuing Operations Before Inc. Tax | $ | 105 | $ | 976 | $ | 1,074 | $ | 739 | $ | 1,522 | $ | 1,165 | ||||||||||||
| Interest Capitalized, Net (1) | (3 | ) | (7 | ) | (3 | ) | (5 | ) | (10 | ) | (11 | ) | ||||||||||||
| Minority interest | 14 | 40 | - | - | - | - | ||||||||||||||||||
| Fixed Charges | 177 | 590 | 455 | 431 | 191 | 194 | ||||||||||||||||||
| Earnings as Adjusted | $ | 293 | $ | 1,599 | $ | 1,526 | $ | 1,165 | $ | 1,703 | $ | 1,348 | ||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest Cost (2) | $ | 168 | $ | 553 | $ | 418 | $ | 401 | $ | 167 | $ | 171 | ||||||||||||
| Interest Allocable to rental Expenses (3) | 9 | 37 | 37 | 30 | 24 | 23 | ||||||||||||||||||
| Fixed Charges | $ | 177 | $ | 590 | $ | 455 | $ | 431 | $ | 191 | $ | 194 | ||||||||||||
| Ratio of Earnings to Fixed Charges | 1.7 | 2.7 | 3.4 | 2.7 | 8.9 | 6.9 | ||||||||||||||||||
| (1) Includes amortization of capitalized interest less interest capitalized for the period. | |
| (2) Includes amortization of debt expense. | |
| (3) Portion of rent expense representing interest. | |