Exhibit 12.1

Becton, Dickinson and Company
Computation of Ratio of Earnings to Fixed Charges

(All Amounts in Millions Except for the Ratio of Earnings to Fixed Charges)

   
Six Months Ended March 31,
   
Year Ended September 30
 
   
Historical
2017
   
Historical
2017
   
Historical
2016
   
Historical
2015
   
Historical
2014
   
Historical
2013
 
 
Earnings:
                                   
Income from Continuing Operations Before Inc. Tax
 
$
111
   
$
976
   
$
1,074
   
$
739
   
$
1,522
   
$
1,165
 
Interest Capitalized, Net (1)
   
(8
)
   
(7
)
   
(3
)
   
(5
)
   
(10
)
   
(11
)
Minority Interest
   
31
     
40
     
-
     
-
     
-
     
-
 
Fixed Charges
   
382
     
590
     
455
     
431
     
191
     
194
 
Earnings as Adjusted
 
$
516
   
$
1,599
   
$
1,526
   
$
1,165
   
$
1,703
   
$
1,348
 
                                                 
Fixed Charges:
                                               
Interest Cost (2)
 
$
364
   
$
553
   
$
418
   
$
401
   
$
167
   
$
171
 
Interest Allocable to Rental Expenses (3)
   
18
     
37
     
37
     
30
     
24
     
23
 
Fixed Charges
 
$
382
   
$
590
   
$
455
   
$
431
   
$
191
   
$
194
 
Ratio of Earnings to Fixed Charges
   
1.4
     
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.