Exhibit 99.1

1 Becton Drive
Franklin Lakes, NJ 07417
www.bd.com



bda11.jpg



Contact:
Monique N. Dolecki, Investor Relations - 201-847-5378
Kristen Cardillo, Corporate Communications - 201-847-5657



BD ANNOUNCES RESULTS FOR 2019 THIRD FISCAL QUARTER;
REAFFIRMS FISCAL 2019 GUIDANCE

As reported, revenues of $4.350 billion increased 1.7 percent.
On a comparable, currency-neutral basis, revenues increased 5.7 percent.
As reported, diluted earnings per share of $1.51 decreased 25.6 percent.
As adjusted, diluted earnings per share of $3.08 increased 5.8 percent, or 14.8 percent on a currency-neutral basis.
The company reaffirms its full fiscal year 2019 revenue and adjusted diluted earnings per share guidance.


Franklin Lakes, NJ (August 6, 2019) - BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $4.350 billion for the third fiscal quarter ended
June 30, 2019
. This represents an increase of 1.7 percent over the prior-year period. On a comparable, currency-neutral basis, revenues increased 5.7 percent over the prior-year period.
 
“Third quarter performance was strong. Our revenues highlight the breadth and diversity of the growth drivers in our portfolio, and we are seeing strength across all three segments,” said Vincent A. Forlenza, chairman and CEO. “As anticipated, our performance has accelerated and we expect this momentum to continue. We remain confident in our outlook for fiscal year 2019 and our ability to deliver value to customers and shareholders.”

Third Quarter and Nine-Month Fiscal 2019 Operating Results
As reported, diluted earnings per share for the third quarter were $1.51, compared with $2.03 in the prior-year period. This represents a decrease of 25.6 percent. Adjusted diluted earnings per share were $3.08, compared with $2.91 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 5.8 percent, or 14.8 percent on a currency-neutral basis.

For the nine-month period ended June 30, 2019, as reported, diluted earnings per share were $3.49, compared with $1.27 in the prior-year period. This represents an increase of 174.8 percent. Adjusted diluted earnings per share were $8.37, compared with $8.08 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 3.6 percent, or 11.6 percent on a currency-neutral basis.





Segment Results
In the BD Medical segment, as reported, worldwide revenues for the quarter of $2.311 billion increased 2.9 percent over the prior-year period, or 6.0 percent on a currency-neutral basis. The segment’s results were driven by performance in the Medication Management Solutions, Medication Delivery Solutions and Pharmaceutical Systems units.

For the nine-month period ended June 30, 2019, BD Medical revenues were $6.626 billion as reported, which represents an increase of 5.7 percent over the prior-year period. On a comparable, currency-neutral basis, BD Medical revenues increased 5.0 percent.

In the BD Life Sciences segment, as reported, worldwide revenues for the quarter of $1.058 billion decreased 2.0 percent from the prior-year period. On a comparable, currency-neutral basis, revenues increased 5.4 percent. Revenue growth was driven by performance across the Diagnostic Systems, Preanalytical Systems and Biosciences units.

For the nine-month period ended June 30, 2019, BD Life Sciences revenues were $3.166 billion as reported, which represents a decrease of 1.7 percent from the prior-year period. On a comparable, currency-neutral basis, BD Life Sciences revenues of $3.157 billion increased 4.3 percent.

In the BD Interventional segment, as reported, worldwide revenues for the quarter of $0.981 billion increased 2.9 percent over the prior-year period, or 5.2 percent on a currency-neutral basis. The segment's results were driven by performance in the Urology and Critical Care and Surgery units.

For the nine-month period ended June 30, 2019, BD Interventional revenues were $2.914 billion as reported, which represents an increase of 39.5 percent over the prior-year period. On a comparable, currency-neutral basis, BD Interventional revenues increased 4.8 percent.

Geographic Results
As reported, third quarter revenues in the U.S. of $2.440 billion increased 4.4 percent over the prior-year period. On a comparable basis, U.S. revenues increased 5.0 percent over the prior-year period. Growth in the U.S. was driven by performance in the BD Medical and BD Interventional segments.

As reported, revenues outside of the U.S. of $1.910 billion decreased 1.6 percent from the prior-year period. On a comparable, currency-neutral basis, revenues outside of the U.S. increased 6.5 percent over the prior-year period. International revenue growth was driven by strong performance in China and EMA.

For the nine-month period ended June 30, 2019, U.S. revenues were $7.168 billion as reported, which represents an increase of 13.4 percent over the prior-year period. On a comparable basis, U.S. revenues of $7.164 billion increased 4.4 percent over the prior-year period. As reported, revenues outside of the U.S. of $5.538 billion increased 5.3 percent over the prior-year period. On a comparable, currency-neutral basis, revenues outside the U.S. of $5.533 billion increased 5.2 percent over the prior-year period.

Fiscal 2019 Outlook for Full Year
The company reaffirms its full fiscal year 2019 revenue and adjusted diluted earnings per share guidance.

As reported, the company continues to expect full fiscal year 2019 revenues to increase 8.0 to 9.0 percent. The company continues to estimate full fiscal year 2019 revenues will increase 5.0 to 6.0 percent on a comparable, currency-neutral basis.

The company continues to expect adjusted diluted earnings per share to be between $11.65 and $11.75. This represents growth of approximately 12.0 percent on a currency-neutral basis over fiscal 2018 adjusted diluted earnings per share of $11.01, or growth of approximately 6.0 to 7.0 percent including the estimated unfavorable impact of foreign currency.

Adjusted diluted earnings per share for fiscal 2019 excludes potential charges or gains that may be recorded during the fiscal year, such as, among other things, the non-cash amortization of intangible assets, acquisition-related charges, and certain tax matters. BD does not attempt to provide reconciliations of forward-looking non-GAAP earnings guidance to the comparable GAAP measure because the impact and timing of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of BD's financial performance.





Conference Call Information
A conference call regarding BD’s third quarter results will be broadcast live on BD’s website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Tuesday, August 6, 2019. The conference call will be available for replay on BD’s website, www.bd.com/investors, or at 1-800-585-8367 (domestic) and 1-404-537-3406 (international) through the close of business on Tuesday, August 13, 2019, confirmation number 1475284.

Non-GAAP Financial Measures/Financial Tables
This news release contains certain non-GAAP financial measures. Reconciliations of these and other non-GAAP measures to the comparable GAAP measures are included in the attached financial tables. Within the attached financial tables presented, certain columns and rows may not add due to the use of rounded numbers. Percentages and earnings per share amounts presented are calculated from the underlying amounts.

All “comparable” basis revenue growth rates relating to fiscal year 2019 presented throughout this release include, where applicable, the results of C. R. Bard, Inc. (“Bard”) in the prior-year period, and also include adjustments for certain items as detailed in the attached tables. Beginning in the second quarter of fiscal year 2018, the Company's organizational structure was based upon three principal business segments: BD Medical (“Medical”), BD Life Sciences (“Life Sciences”) and BD Interventional ("Interventional"). The Interventional segment was added upon the Company's completion of its acquisition of Bard, and this new segment includes the majority of Bard’s product offerings and certain product offerings that were previously reported in the Medical segment. Certain of Bard's product offerings are included under the Company's Medical segment, specifically within the new Medication Delivery Solutions unit, which was formerly the Medical segment's Medication and Procedural Solutions unit. Current and prior-year adjusted diluted earnings per share results exclude, among other things, the impact of purchase accounting adjustments (including the non-cash amortization of acquisition-related intangible assets); integration, restructuring and transaction costs; transactional and product related impacts; and the loss on debt extinguishment. We also provide these measures on a currency-neutral basis after eliminating the effect of foreign currency translation, where applicable. We calculate foreign currency-neutral percentages by converting our current-period local currency financial results using the prior period foreign currency exchange rates and comparing these adjusted amounts to our current-period results. Reconciliations of these amounts to the most directly comparable GAAP measures are included in the tables at the end of this release.

About BD
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 65,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com.


***
This press release, including the section entitled “Fiscal 2019 Outlook for Full Year”, contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD’s performance, including future revenues and earnings per share.  All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties.  Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement.  With respect to forward-looking statements contained herein, a number of factors could cause actual results to vary materially.  These factors include, but are not limited to: risks relating to the integration of the C.R. Bard operations, products and employees into BD and the possibility that the anticipated synergies and other benefits of the proposed acquisition will not be realized or will not be realized within the expected timeframe; new or changing laws and regulations impacting our business (including the imposition of tariffs or changes in laws impacting international trade) or changes in enforcement practices with respect to such laws; fluctuations in costs and availability of raw materials and in BD’s ability to maintain favorable supplier arrangements and relationships; legislative or regulatory changes to the U.S. healthcare system, potential cuts in governmental healthcare spending or measures to contain healthcare costs, each of which could result in reduced demand for our products or downward pricing pressure; changes in interest or foreign currency exchange rates; adverse changes in regional, national or foreign economic conditions, particularly in emerging markets, including any impact on our ability to access credit markets and finance our operations, the demand for our products and services, or our suppliers’ ability to provide products needed for our operations; the adverse impact of cyber-attacks on our information systems or products; competitive factors including technological advances and new products introduced by competitors; interruptions in our supply chain or manufacturing processes; pricing and market pressures; difficulties inherent in product




development, delays in product introductions and uncertainty of market acceptance of new products; adverse changes in geopolitical conditions; increases in energy costs and their effect on, among other things, the cost of producing BD’s products; product efficacy or safety concerns resulting in product recalls or actions being taken by the FDA or other regulators (including the potential impact of the recent FDA letter on the use of drug-coated balloons); our ability to successfully integrate any businesses we acquire; uncertainties of litigation (as described in BD’s filings with the Securities and Exchange Commission); future healthcare reform outside the U.S., including changes in government pricing and reimbursement policies or other cost containment reforms; and issuance of new or revised accounting standards, as well as other factors discussed in BD’s filings with the Securities and Exchange Commission.  We do not intend to update any forward-looking statements to reflect events or circumstances after the date hereof except as required by applicable laws or regulations.





BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in millions, except share and per share data)

 
  
Three Months Ended June 30,
 
  
2019
 
2018
 
% Change
REVENUES
  
$
4,350

 
$
4,278

 
1.7

 
 
 
 
 
 
 
Cost of products sold
  
2,276

 
2,262

 
0.6

Selling and administrative expense
  
1,076

 
1,086

 
(0.9
)
Research and development expense
  
282

 
277

 
2.1

Acquisitions and other restructurings
  
90

 
142

 
(37.1
)
TOTAL OPERATING COSTS AND EXPENSES
  
3,725

 
3,767

 
(1.1
)
OPERATING INCOME
  
626

 
512

 
22.2

 
 
 
 
 
 
 
Interest expense
  
(156
)
 
(182
)
 
(14.2
)
Interest income
  
2

 
8

 
(73.8
)
Other (expense) income, net
  
(11
)
 
310

 
(103.7
)
INCOME BEFORE INCOME TAXES
  
460

 
647

 
(28.9
)
Income tax provision
  
9

 
53

 
(82.7
)
NET INCOME
  
451

 
594

 
(24.1
)
Preferred stock dividends
 
(38
)
 
(38
)
 

NET INCOME APPLICABLE TO COMMON SHAREHOLDERS
 
$
413

 
$
556

 
(25.7
)
 
  
 
 
 
 
 
EARNINGS PER SHARE
  
 
 
 
 
 
Basic Earnings per Share
  
$
1.53

 
$
2.08

 
(26.4
)
Diluted Earnings per Share
  
$
1.51

 
$
2.03

 
(25.6
)
 
  
 
 
 
 
 
AVERAGE SHARES OUTSTANDING (in thousands)
  
 
 
 
 
 
Basic
  
270,249
 
267,836
 
 
Diluted
  
274,336
 
273,925
 
 

Page 1



BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in millions, except share and per share data)
 
  
Nine Months Ended June 30,
 
  
2019
 
2018
 
% Change
REVENUES
  
$
12,706

 
$
11,581

 
9.7

 
 
 
 
 
 
 
Cost of products sold
  
6,684

 
6,405

 
4.4

Selling and administrative expense
  
3,238

 
2,915

 
11.1

Research and development expense
  
792

 
727

 
8.9

Acquisitions and other restructurings
  
281

 
600

 
(53.2
)
Other operating expense, net
  
61

 

 
100.0

TOTAL OPERATING COSTS AND EXPENSES
  
11,056

 
10,647

 
3.8

OPERATING INCOME
  
1,649

 
933

 
76.7

 
 
 
 
 
 
 
Interest expense
  
(498
)
 
(525
)
 
(5.1
)
Interest income
  
8

 
55

 
(86.0
)
Other income, net
  
19

 
295

 
(93.7
)
INCOME BEFORE INCOME TAXES
  
1,178

 
759

 
55.3

Income tax provision
  
107

 
313

 
(65.7
)
NET INCOME
  
1,071

 
446

 
140.2

Preferred stock dividends
 
(114
)
 
(114
)
 

NET INCOME APPLICABLE TO COMMON SHAREHOLDERS
 
$
957

 
$
332

 
188.2

 
  
    
 
 
 
 
EARNINGS PER SHARE
  
 
 
 
 
 
Basic Earnings per Share
  
$
3.55

 
$
1.30

 
173.1

Diluted Earnings per Share
  
$
3.49

 
$
1.27

 
174.8

 
  
 
 
 
 
 
AVERAGE SHARES OUTSTANDING (in thousands)
  
 
 
 
 
 
Basic
  
269,719
 
254,934
 
 
Diluted
  
274,510
 
260,860
 
 







Page 2



BECTON DICKINSON AND COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in millions)

 
 
June 30, 2019
 
September 30, 2018
 
 
(Unaudited)
 
 
ASSETS
 
 
 
 
Cash and equivalents
 
$
523

 
$
1,140

Restricted cash
 
71

 
96

Short-term investments
 
12

 
17

Trade receivables, net
 
2,220

 
2,319

Inventories
 
2,629

 
2,451

Assets held for sale
 

 
137

Prepaid expenses and other
 
1,326

 
1,251

TOTAL CURRENT ASSETS
 
6,781

 
7,411

Property, plant and equipment, net
 
5,550

 
5,375

Goodwill and other intangibles, net
 
38,840

 
40,041

Other Assets
 
1,063

 
1,078

TOTAL ASSETS
 
$
52,233

 
$
53,904

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
Short-term debt
 
$
2,168

 
$
2,601

Other current liabilities
 
4,069

 
4,615

Long-term debt
 
18,016

 
18,894

Long-term employee benefit obligations
 
862

 
1,056

Deferred income taxes and other
 
5,621

 
5,743

Shareholders’ equity
 
21,497

 
20,994

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
 
$
52,233

 
$
53,904













Page 3



BECTON DICKINSON AND COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; Amounts in millions)


 
 
Nine Months Ended June 30,
 
 
2019
 
2018
OPERATING ACTIVITIES
 
 
 
 
Net income
 
$
1,071

 
$
446

Depreciation and amortization
 
1,700

 
1,412

Change in operating assets and liabilities and other, net
 
(812
)
 
(299
)
NET CASH PROVIDED BY OPERATING ACTIVITIES
 
1,959

 
1,559

INVESTING ACTIVITIES
 
 
 
 
Capital expenditures
 
(599
)
 
(588
)
Acquisitions of businesses, net of cash acquired
 

 
(14,998
)
Proceeds from divestitures, net
 
477

 
534

Other, net
 
(178
)
 
(120
)
NET CASH USED FOR INVESTING ACTIVITIES
 
(300
)
 
(15,173
)
FINANCING ACTIVITIES
 
 
 
 
Change in credit facility borrowings
 
300

 
200

Proceeds from long-term debt and term loans
 
2,224

 
4,335

Payments of debt and term loans
 
(3,882
)
 
(2,723
)
Dividends paid
 
(737
)
 
(687
)
Other, net
 
(204
)
 
(176
)
NET CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES
 
(2,300
)
 
949

Effect of exchange rate changes on cash and equivalents and restricted cash
 
(1
)
 
(5
)
NET DECREASE IN CASH AND EQUIVALENTS AND RESTRICTED CASH
 
(642
)
 
(12,670
)
OPENING CASH AND EQUIVALENTS AND RESTRICTED CASH
 
1,236

 
14,179

CLOSING CASH AND EQUIVALENTS AND RESTRICTED CASH
 
$
594

 
$
1,509



Page 4



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - UNITED STATES
Three Months Ended June 30,
(Unaudited; Amounts in millions)

 
  
A
  
B
  
C=(A-B)/B
 
  
2019
 
2018
  
% Change
BD MEDICAL
  
 
  
 
  
 
Medication Delivery Solutions
  
$
524

  
$
505

 
3.7

Medication Management Solutions
  
528

  
483

 
9.3

Diabetes Care
  
139

  
138

 
0.7

Pharmaceutical Systems
  
108

  
103

 
4.6

TOTAL
  
$
1,299

  
$
1,230

 
5.7

 
  
 
  
 
  
 
BD LIFE SCIENCES
  
 
  
 
  
 
Preanalytical Systems
  
$
203

 
$
199

 
1.9

Diagnostic Systems
  
155

 
151

 
3.0

Biosciences
  
117

 
126

 
(7.2
)
TOTAL
  
$
475

 
$
476

 
(0.2
)
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
Surgery
 
$
273

 
$
259

 
5.7

Peripheral Intervention
 
195

 
195

 
(0.2
)
Urology and Critical Care
 
198

 
178

 
10.9

TOTAL
 
$
666

 
$
632

 
5.3

 
 
 
 
 
 
 
TOTAL UNITED STATES
  
$
2,440

 
$
2,338

 
4.4






Page 5



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - INTERNATIONAL
Three Months Ended June 30, (continued)
(Unaudited; Amounts in millions)

 
  
 
  
 
  
 
 
D=(A-B)/B
 
E=(A-B-C)/B
 
  
A
  
B
  
C
 
% Change
 
  
2019
 
2018
  
FX Impact
 
Reported
 
FXN
BD MEDICAL
  
 
  
 
  
 
 
 
 
 
Medication Delivery Solutions
  
$
460

 
$
471

 
$
(33
)
 
(2.4
)
 
4.5

Medication Management Solutions
  
129

 
127

 
(9
)
 
1.7

 
8.8

Diabetes Care
  
136

 
138

 
(9
)
 
(1.5
)
 
5.0

Pharmaceutical Systems
  
286

 
279

 
(18
)
 
2.5

 
9.0

TOTAL
  
$
1,011

 
$
1,016

 
$
(69
)
 
(0.4
)
 
6.4

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
 
 
 
 
Preanalytical Systems
  
$
204

 
$
205

 
$
(16
)
 
(0.4
)
 
7.5

Diagnostic Systems
  
212

 
211

 
(14
)
 
0.7

 
7.5

Biosciences
  
167

 
188

 
(9
)
 
(11.1
)
 
(6.3
)
TOTAL
  
$
583

 
$
603

 
$
(40
)
 
(3.4
)
 
3.2

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
76

 
$
77

 
$
(5
)
 
(2.0
)
 
4.7

Peripheral Intervention
 
155

 
157

 
(11
)
 
(1.5
)
 
5.5

Urology and Critical Care
 
85

 
87

 
(5
)
 
(2.4
)
 
3.6

TOTAL
 
$
316

 
$
322

 
$
(21
)
 
(1.9
)
 
4.8

 
  
 
  
 
  
 
 
 
 
 
TOTAL INTERNATIONAL
  
$
1,910

 
$
1,941

 
$
(130
)
 
(1.6
)
 
5.1






Page 6



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - TOTAL
Three Months Ended June 30, (continued)
(Unaudited; Amounts in millions)

 
  
 
  
 
  
 
 
D=(A-B)/B
 
E=(A-B-C)/B
 
  
A
  
B
  
C
 
% Change
 
  
2019
 
2018
  
FX Impact
 
Reported
 
FXN
BD MEDICAL
  
 
  
 
  
 
 
 
 
 
Medication Delivery Solutions
  
$
984

 
$
977

 
$
(33
)
 
0.8

 
4.1

Medication Management Solutions
  
658

 
610

 
(9
)
 
7.7

 
9.2

Diabetes Care
  
275

 
276

 
(9
)
 
(0.4
)
 
2.9

Pharmaceutical Systems
  
394

 
383

 
(18
)
 
3.1

 
7.8

TOTAL
  
$
2,311

 
$
2,246

 
$
(69
)
 
2.9

 
6.0

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
 
 
 
 
 
 
 
Preanalytical Systems
  
$
407

 
$
404

 
$
(16
)
 
0.7

 
4.7

Diagnostic Systems
  
368

 
362

 
(14
)
 
1.7

 
5.6

Biosciences
  
284

 
314

 
(9
)
 
(9.6
)
 
(6.7
)
TOTAL
  
$
1,058

 
$
1,079

 
$
(40
)
 
(2.0
)
 
1.7

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
349

 
$
336

 
$
(5
)
 
3.9

 
5.4

Peripheral Intervention
 
350

 
353

 
(11
)
 
(0.8
)
 
2.3

Urology and Critical Care
 
283

 
265

 
(5
)
 
6.5

 
8.5

TOTAL
 
$
981

 
$
954

 
$
(21
)
 
2.9

 
5.2

 
  
 
 
 
 
 
 
 
 
 
TOTAL REVENUES
  
$
4,350

 
$
4,278

 
$
(130
)
 
1.7

 
4.7






Page 7



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - UNITED STATES
Nine Months Ended June 30,
(Unaudited; Amounts in millions)
 
  
A
  
B
  
C=(A-B)/B
 
  
2019
 
2018
  
% Change
BD MEDICAL
  
 
  
 
  
 
Medication Delivery Solutions
  
$
1,528

 
$
1,379

 
10.8

Medication Management Solutions
  
1,531

 
1,415

 
8.3

Diabetes Care
  
421

 
415

 
1.6

Pharmaceutical Systems
  
269

 
239

 
12.4

TOTAL
  
$
3,750

 
$
3,448

 
8.7

 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
Preanalytical Systems
  
$
574

 
$
565

 
1.7

Diagnostic Systems
  
510

 
518

 
(1.5
)
Biosciences
  
345

 
350

 
(1.4
)
TOTAL
  
$
1,430

 
$
1,433

 
(0.2
)
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
Surgery
 
$
819

 
$
687

 
19.2

Peripheral Intervention
 
580

 
393

 
47.5

Urology and Critical Care
 
590

 
358

 
65.0

TOTAL
 
$
1,989

 
$
1,438

 
38.3

 
  
 
  
 
  
 
TOTAL UNITED STATES
  
$
7,168

 
$
6,319

 
13.4




Page 8



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - INTERNATIONAL
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in millions)
 
  
 
  
 
  
 
 
D=(A-B)/B
 
E=(A-B-C)/B
 
  
A
  
B
  
C
 
% Change
 
  
2019
 
2018
  
FX Impact
 
Reported
 
FXN
BD MEDICAL
  
 
  
 
  
 
 
 
 
 
Medication Delivery Solutions
  
$
1,344

 
$
1,298

 
$
(83
)
 
3.5

 
10.0

Medication Management Solutions
  
365

 
364

 
(20
)
 
0.3

 
5.9

Diabetes Care
  
397

 
405

 
(23
)
 
(2.0
)
 
3.7

Pharmaceutical Systems
  
771

 
755

 
(37
)
 
2.1

 
7.0

TOTAL
  
$
2,877

 
$
2,822

 
$
(163
)
 
2.0

 
7.7

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
 
 
 
 
Preanalytical Systems
  
$
591

 
$
595

 
$
(40
)
 
(0.7
)
 
5.9

Diagnostic Systems
  
628

 
634

 
(34
)
 
(0.9
)
 
4.4

Biosciences
  
517

 
559

 
(23
)
 
(7.6
)
 
(3.4
)
TOTAL
  
$
1,736

 
$
1,789

 
$
(97
)
 
(2.9
)
 
2.5

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
223

 
$
177

 
$
(11
)
 
26.5

 
33.0

Peripheral Intervention
 
449

 
303

 
(25
)
 
47.9

 
56.2

Urology and Critical Care
 
253

 
171

 
(11
)
 
47.7

 
54.2

TOTAL
 
$
925

 
$
651

 
$
(47
)
 
42.1

 
49.4

 
  
 
  
 
  
 
 
 
 
 
TOTAL INTERNATIONAL
  
$
5,538

 
$
5,261

 
$
(307
)
 
5.3

 
11.1




Page 9



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - TOTAL
Nine Months Ended June 30, (continued)
(Unaudited; Amounts in millions)
 
  
 
  
 
  
 
 
D=(A-B)/B
 
E=(A-B-C)/B
 
  
A
  
B
  
C
 
% Change
 
  
2019
 
2018
  
FX Impact
 
Reported
 
FXN
BD MEDICAL
  
 
  
 
  
 
 
 
 
 
Medication Delivery Solutions
  
$
2,871

 
$
2,677

 
$
(83
)
 
7.3

 
10.4

Medication Management Solutions
  
1,896

 
1,778

 
(20
)
 
6.6

 
7.8

Diabetes Care
  
819

 
820

 
(23
)
 
(0.2
)
 
2.6

Pharmaceutical Systems
  
1,040

 
994

 
(37
)
 
4.6

 
8.3

TOTAL
  
$
6,626

 
$
6,270

 
$
(163
)
 
5.7

 
8.3

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
 
 
 
 
Preanalytical Systems
  
$
1,165

 
$
1,160

 
$
(40
)
 
0.4

 
3.9

Diagnostic Systems
  
1,138

 
1,152

 
(34
)
 
(1.2
)
 
1.7

Biosciences
  
862

 
910

 
(23
)
 
(5.2
)
 
(2.7
)
TOTAL
  
$
3,166

 
$
3,222

 
$
(97
)
 
(1.7
)
 
1.3

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
1,042

 
$
864

 
$
(11
)
 
20.7

 
22.0

Peripheral Intervention
 
1,029

 
697

 
(25
)
 
47.7

 
51.3

Urology and Critical Care
 
843

 
529

 
(11
)
 
59.4

 
61.5

TOTAL
 
$
2,914

 
$
2,089

 
$
(47
)
 
39.5

 
41.7

 
  
 
  
 
  
 
 
 
 
 
TOTAL REVENUES
  
$
12,706

 
$
11,581

 
$
(307
)
 
9.7

 
12.4





Page 10



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
RECONCILIATION OF REPORTED REVENUE CHANGE TO COMPARABLE REVENUE CHANGE - UNITED STATES
Three Months Ended June 30,
(Unaudited; Amounts in millions)
 
  
 
 
  
 
 
 
  
 
 
  
 
 
  
A
 
  
B
 
C
  
D=B+C
 
  
E=(A-D)/D
 
 
BD Reported
 
 
BD Reported
 
Divestiture and Other Adjustments (a)
 
Comparable
 
 
Comparable % Change
 
  
2019
 
 
2018
 
  
2018
 
  
BD MEDICAL
  
 
 
  
 
 
 
  
 
 
  
 
Medication Delivery Solutions
  
$
524

 
  
$
505

 
$

 
$
505

 
  
3.7

Medication Management Solutions
  
528

 
  
483

 

 
483

 
  
9.3

Diabetes Care
  
139

 
  
138

 

 
138

 
  
0.7

Pharmaceutical Systems
  
108

 
  
103

 

 
103

 
  
4.6

TOTAL
  
$
1,299

 
  
$
1,230

 
$

 
$
1,230

 
  
5.7

 
 
 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
  
 
 
 
 
 
 
  
 
Preanalytical Systems
  
$
203

 
  
$
199

 
$

 
$
199

 
  
1.9

Diagnostic Systems
  
155

 
  
151

 

 
151

 
  
3.0

Biosciences
  
117

 
  
126

 
(14
)
 
112

 
  
4.7

TOTAL
  
$
475

 
  
$
476

 
$
(14
)
 
$
462

 
  
2.9

 
 
 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
273

 
 
$
259

 
$

 
$
259

 
 
5.7

Peripheral Intervention
 
195

 
 
195

 

 
195

 
 
(0.2
)
Urology and Critical Care
 
198

 
 
178

 

 
178

 
 
10.9

TOTAL
 
$
666

 
 
$
632

 
$

 
$
632

 
 
5.3

 
  
 
 
  
 
 
 
  
 
 
  
 
TOTAL UNITED STATES
  
$
2,440

 
  
$
2,338

 
$
(14
)
 
$
2,323

 
  
5.0


(a)
Amounts include adjustments for BD's divestiture of its Advanced Bioprocessing business.


Page 11



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
RECONCILIATION OF REPORTED REVENUE CHANGE TO COMPARABLE REVENUE CHANGE - INTERNATIONAL
Three Months Ended June 30, (continued)
(Unaudited; Amounts in millions)
 
  
 
 
  
 
 
 
 
 
 
  
 
 
 
 
  
A
 
  
B
 
C
  
D=B+C
 
  
E
 
F=(A-D-E)/D
 
  
BD Reported
 
 
BD Reported
 
Divestiture Adjustments (a)
 
Comparable
 
  
FX Impact (b)
 
FXN % Change
 
  
2019
 
 
2018
 
  
2018
 
  
 
BD MEDICAL
  
 
 
  
 
 
 
 
 
 
  
 
 
 
Medication Delivery Solutions
  
$
460

  
  
$
471

 
$

 
$
471

  
  
$
(33
)
 
4.7

Medication Management Solutions
  
129

  
  
127

 

 
127

  
  
(9
)
 
8.8

Diabetes Care
  
136

  
  
138

 

 
138

  
  
(9
)
 
5.3

Pharmaceutical Systems
  
286

  
  
279

 

 
279

  
  
(18
)
 
9.0

TOTAL
  
$
1,011

  
  
$
1,016

 
$

 
$
1,016

  
  
$
(70
)
 
6.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
  
 
 
 
 
 
 
  
 
 
 
Preanalytical Systems
  
$
204

  
  
$
205

 
$

 
$
205

  
  
$
(18
)
 
8.1

Diagnostic Systems
  
212

  
  
211

 

 
211

  
  
(16
)
 
8.2

Biosciences
  
167

  
  
188

 
(20
)
 
167

  
  
(10
)
 
5.3

TOTAL
  
$
583

  
  
$
603

 
$
(20
)
 
$
583

  
  
$
(43
)
 
7.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
76

 
 
$
77

 
$

 
$
77

 
 
$
(5
)
 
4.7

Peripheral Intervention
 
155

 
 
157

 

 
157

 
 
(11
)
 
5.5

Urology and Critical Care
 
85

 
 
87

 

 
87

 
 
(5
)
 
3.6

TOTAL
 
$
316

 
 
$
322

 
$

 
$
322

 
 
$
(21
)
 
4.8

 
  
 
 
  
 
 
 
 
 
 
  
 
 
 
TOTAL INTERNATIONAL
  
$
1,910

  
  
$
1,941

 
$
(20
)
 
$
1,920

  
  
$
(135
)
 
6.5


(a)
Amounts include adjustments for BD's divestiture of its Advanced Bioprocessing business.
(b)
Under U.S. generally accepted accounting principles and as a result of Argentina’s highly inflationary economy, the functional currency of the Company's operations in Argentina was the U.S. dollar for the quarter ended June 30, 2019.  The total foreign currency translation impact above includes $5 million that was calculated by comparing local currency revenues in Argentina for the quarter ended June 30, 2019, translated using the prior-period exchange rate, to the reported U.S. dollar revenues for this same period.


Page 12



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
RECONCILIATION OF REPORTED REVENUE CHANGE TO COMPARABLE REVENUE CHANGE - TOTAL
Three Months Ended June 30, (continued)
(Unaudited; Amounts in millions)
 
  
A
 
  
B
 
C
  
D=B+C
 
  
E
 
F=(A-D-E)/D
 
  
BD Reported
 
 
BD Reported
 
Divestiture and Other Adjustments (a)
 
Comparable
 
  
FX Impact (b)
 
FXN % Change
 
  
2019
 
 
2018
 
  
2018
 
  
 
BD MEDICAL
  
 
 
  
 
 
 
 
 
 
  
 
 
 
Medication Delivery Solutions
  
$
984

  
  
$
977

 
$

 
$
977

  
  
$
(33
)
 
4.2

Medication Management Solutions
  
658

  
  
610

 

 
610

  
  
(9
)
 
9.2

Diabetes Care
  
275

  
  
276

 

 
276

  
  
(9
)
 
3.0

Pharmaceutical Systems
  
394

  
  
383

 

 
383

  
  
(18
)
 
7.8

TOTAL
  
$
2,311

  
  
$
2,246

 
$

 
$
2,246

  
  
$
(70
)
 
6.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
  
 
 
 
 
 
 
  
 
 
 
Preanalytical Systems
  
$
407

  
  
$
404

 
$

 
$
404

  
  
$
(18
)
 
5.0

Diagnostic Systems
  
368

  
  
362

 

 
362

  
  
(16
)
 
6.0

Biosciences
  
284

  
  
314

 
(35
)
 
279

  
  
(10
)
 
5.1

TOTAL
  
$
1,058

  
  
$
1,079

 
$
(35
)
 
$
1,045

  
  
$
(43
)
 
5.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
349

 
 
$
336

 
$

 
$
336

 
 
$
(5
)
 
5.4

Peripheral Intervention
 
350

 
 
353

 

 
353

 
 
(11
)
 
2.3

Urology and Critical Care
 
283

 
 
265

 

 
265

 
 
(5
)
 
8.5

TOTAL
 
$
981

 
 
$
954

 
$

 
$
954

 
 
$
(21
)
 
5.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL REVENUES
  
$
4,350

  
  
$
4,278

 
$
(35
)
 
$
4,244

  
  
$
(135
)
 
5.7


(a)
Amounts include adjustments for BD's divestiture of its Advanced Bioprocessing business.
(b)
Under U.S. generally accepted accounting principles and as a result of Argentina’s highly inflationary economy, the functional currency of the Company's operations in Argentina was the U.S. dollar for the quarter ended June 30, 2019.  The total foreign currency translation impact above includes $5 million that was calculated by comparing local currency revenues in Argentina for the quarter ended June 30, 2019, translated using the prior-period exchange rate, to the reported U.S. dollar revenues for this same period.

Page 13



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
RECONCILIATION OF REPORTED REVENUE CHANGE TO COMPARABLE REVENUE CHANGE - UNITED STATES
Nine Months Ended June 30,
(Unaudited; Amounts in millions)
 
  
A
 
B
 
C=A+B
 
  
D
  
E
 
F
 
G
  
H=D+E+F+G
 
  
I=(C-H)/H
 
  
BD Reported
 
Divestiture Adjustments (a)
 
Comparable
 
 
BD Reported
 
Bard Q1 (b)
 
Intercompany Adjustment (c)
 
Divestiture and Other Adjustments (a)
 
Comparable
 
 
Comparable % Change
 
  
2019
 
 
2019
 
 
2018
  
2018
 
 
  
2018
 
  
BD MEDICAL
  
 
 
 
 
 
 
  
 
 
 
 
 
  
 
 
 
 
  
 
Medication Delivery Solutions
  
$
1,528

 
$

 
$
1,528

 
  
$
1,379

 
$
145

 
$
(3
)
  
$
(9
)
 
$
1,512

 
  
1.0

Medication Management Solutions
  
1,531

 

 
1,531

 
  
1,415

 

 

  

 
1,415

 
  
8.3

Diabetes Care
  
421

 

 
421