Exhibit 99.1

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



bda12.jpg



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



BD ANNOUNCES RESULTS FOR 2019 FOURTH FISCAL QUARTER AND FULL YEAR;
PROVIDES FISCAL 2020 GUIDANCE

As reported, full fiscal year revenues of $17.290 billion increased 8.2 percent.
On a comparable, currency-neutral basis, revenues increased 5.1 percent for the full fiscal year.
As reported, full fiscal year diluted earnings per share of $3.89 increased 548.3 percent.
As adjusted, full fiscal year diluted earnings per share of $11.68 increased 6.1 percent, or 11.9 percent on a currency-neutral basis.
The company expects full fiscal year 2020 revenues to increase 4.0 to 4.5 percent as reported, or 5.0 to 5.5 percent on a currency-neutral basis.
As adjusted, the company expects full fiscal year 2020 diluted earnings per share to be between $12.50 and $12.65, resulting in growth of approximately 9.5 to 11.0 percent on a currency-neutral basis. This represents growth of approximately 7.0 to 8.5 percent including the estimated unfavorable impact of foreign currency. Adjusted diluted earnings per share guidance includes an adverse impact of approximately 500 basis points related to the expiration of the Gore royalty.


Franklin Lakes, NJ (November 5, 2019) - BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $4.584 billion for the fourth fiscal quarter ended
September 30, 2019
. This represents an increase of 4.1 percent over the prior-year period. On a comparable, currency-neutral basis, revenues increased 6.2 percent over the prior-year period.

For the full fiscal year ended September 30, 2019, revenues of $17.290 billion increased 8.2 percent from the prior-year period. On a comparable, currency-neutral basis, full fiscal year revenues of $17.281 billion grew 5.1 percent.
 
“We are very proud of our accomplishments in fiscal year 2019.  Our performance this year demonstrates our ability to overcome multiple headwinds and deliver on our financial and operational goals,” said Vincent A. Forlenza, chairman and CEO. “We enter fiscal 2020 with continued optimism.  There are significant opportunities ahead to leverage the capabilities we’ve built to better serve our customers and their patients around the world.  It has been a privilege to lead BD and our global team of talented associates.  I’m confident that under Tom Polen’s leadership the company will further accelerate its impact as BD enters its next phase of value creation.”





Fourth Quarter and Twelve-Month Fiscal 2019 Operating Results
As reported, diluted earnings per share for the fourth quarter were $0.41, compared with $(0.64) in the prior-year period. This represents an increase of 164.1 percent. Adjusted diluted earnings per share were $3.31, compared with $2.93 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 13.0 percent, or 12.3 percent on a currency-neutral basis.

For the twelve-month period ended September 30, 2019, as reported, diluted earnings per share were $3.89, compared with $0.60 in the prior-year period. This represents an increase of 548.3 percent. Adjusted diluted earnings per share were $11.68, compared with $11.01 in the prior-year period. This represents an increase in adjusted diluted earnings per share of 6.1 percent, or 11.9 percent on a currency-neutral basis.

Segment Results
In the BD Medical segment, as reported, worldwide revenues for the quarter of $2.437 billion increased 3.9 percent over the prior-year period, or 5.3 percent on a currency-neutral basis. The segment’s results were driven by performance in the Medication Management Solutions and Pharmaceutical Systems units.

For the twelve-month period ended September 30, 2019, BD Medical revenues were $9.064 billion as reported, which represents an increase of 5.2 percent over the prior-year period. On a comparable, currency-neutral basis, BD Medical revenues increased 5.1 percent.

In the BD Life Sciences segment, as reported, worldwide revenues for the quarter of $1.134 billion increased 2.3 percent over the prior-year period. On a comparable, currency-neutral basis, revenues increased 6.9 percent. Revenue growth was driven by performance in the Diagnostic Systems and Biosciences units.

For the twelve-month period ended September 30, 2019, BD Life Sciences revenues were $4.300 billion as reported, which represents a decrease of 0.7 percent from the prior-year period. On a comparable, currency-neutral basis, BD Life Sciences revenues of $4.291 billion increased 4.9 percent.

In the BD Interventional segment, as reported, worldwide revenues for the quarter of $1.013 billion increased 6.9 percent over the prior-year period, or 7.7 percent on a currency-neutral basis. The segment's results were driven by performance in the Surgery and Urology and Critical Care units.

For the twelve-month period ended September 30, 2019, BD Interventional revenues were $3.926 billion as reported, which represents an increase of 29.3 percent over the prior-year period. On a comparable, currency-neutral basis, BD Interventional revenues increased 5.5 percent.

Geographic Results
As reported, fourth quarter revenues in the U.S. of $2.562 billion increased 4.6 percent over the prior-year period. On a comparable basis, U.S. revenues increased 4.9 percent over the prior-year period. Growth in the U.S. was driven by the Medication Management Solutions unit within the BD Medical segment, the Biosciences unit within the BD Life Sciences segment, and the Surgery and Urology and Critical Care units with the BD Interventional segment.

As reported, revenues outside of the U.S. of $2.022 billion increased 3.5 percent over the prior-year period. On a comparable, currency-neutral basis, revenues outside of the U.S. increased 7.9 percent over the prior-year period. International revenue growth was driven by performance in Europe, Asia Pacific and EMA.

For the twelve-month period ended September 30, 2019, U.S. revenues were $9.730 billion as reported, which represents an increase of 11.0 percent over the prior-year period. On a comparable basis, U.S. revenues of $9.726 billion increased 4.5 percent over the prior-year period. As reported, revenues outside of the U.S. of $7.560 billion increased 4.8 percent over the prior-year period. On a comparable, currency-neutral basis, revenues outside the U.S. of $7.555 billion increased 5.9 percent over the prior-year period.

Fiscal 2020 Outlook for Full Year
The company expects full fiscal year 2020 revenues to increase 4.0 to 4.5 percent as reported, or 5.0 to 5.5 percent on a currency-neutral basis.

The company expects full fiscal year 2020 adjusted diluted earnings per share to be between $12.50 and $12.65. This represents growth of approximately 9.5 to 11.0 percent on a currency-neutral basis over fiscal 2019 adjusted diluted earnings per share of $11.68, or growth of approximately 7.0 to 8.5 percent including the estimated unfavorable impact of foreign currency. Adjusted diluted earnings per share guidance includes an adverse impact of approximately 500 basis points related to the expiration of the Gore royalty.





Adjusted diluted earnings per share for fiscal 2020 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 fourth 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, November 5, 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, November 12, 2019, confirmation number 5994332.

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 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 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 2020 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. or foreign healthcare systems, potential cuts in governmental healthcare spending, or governmental or private measures to contain healthcare costs, including changes in pricing and reimbursement policies, 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 ongoing impact of the FDA letters regarding 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); 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 September 30,
 
  
2019
 
2018
 
% Change
REVENUES
  
$
4,584

 
$
4,402

 
4.1

 
 
 
 
 
 
 
Cost of products sold
  
2,318

 
2,309

 
0.4

Selling and administrative expense
  
1,094

 
1,102

 
(0.7
)
Research and development expense
  
270

 
276

 
(2.4
)
Acquisitions and other restructurings
  
199

 
139

 
42.7

Other operating expense, net
  
592

 

 
100.0

TOTAL OPERATING COSTS AND EXPENSES
  
4,473

 
3,826

 
16.9

OPERATING INCOME
  
111

 
576

 
(80.8
)
 
 
 
 
 
 
 
Interest expense
  
(141
)
 
(181
)
 
(21.9
)
Interest income
  
4

 
9

 
(51.2
)
Other income, net
  
11

 
10

 
6.7

(LOSS) INCOME BEFORE INCOME TAXES
  
(15
)
 
415

 
(103.5
)
Income tax (benefit) provision
  
(164
)
 
550

 
(129.9
)
NET INCOME (LOSS)
  
150

 
(135
)
 
211.0

Preferred stock dividends
 
(38
)
 
(38
)
 

NET INCOME (LOSS) APPLICABLE TO COMMON SHAREHOLDERS
 
$
112

 
$
(173
)
 
164.7

 
  
 
 
 
 
 
EARNINGS PER SHARE
  
 
 
 
 
 
Basic Earnings (Loss) per Share
  
$
0.41

 
$
(0.64
)
 
164.1

Diluted Earnings (Loss) per Share
  
$
0.41

 
$
(0.64
)
 
164.1

 
  
 
 
 
 
 
AVERAGE SHARES OUTSTANDING (in thousands)
  
 
 
 
 
 
Basic
  
270,610
 
268,500
 
 
Diluted
  
274,959
 
268,500
 
 

Page 1



BECTON DICKINSON AND COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in millions, except share and per share data)
 
  
Twelve Months Ended September 30,
 
  
2019
 
2018
 
% Change
REVENUES
  
$
17,290

 
$
15,983

 
8.2

 
 
 
 
 
 
 
Cost of products sold
  
9,002

 
8,714

 
3.3

Selling and administrative expense
  
4,332

 
4,016

 
7.9

Research and development expense
  
1,062

 
1,004

 
5.8

Acquisitions and other restructurings
  
480

 
740

 
(35.1
)
Other operating expense, net
  
654

 

 
100.0

TOTAL OPERATING COSTS AND EXPENSES
  
15,530

 
14,474

 
7.3

OPERATING INCOME
  
1,760

 
1,509

 
16.6

 
 
 
 
 
 
 
Interest expense
  
(639
)
 
(706
)
 
(9.4
)
Interest income
  
12

 
65

 
(81.0
)
Other income, net
  
30

 
305

 
(90.3
)
INCOME BEFORE INCOME TAXES
  
1,163

 
1,173

 
(0.9
)
Income tax (benefit) provision
  
(57
)
 
862

 
(106.6
)
NET INCOME
  
1,220

 
311

 
292.4

Preferred stock dividends
 
(152
)
 
(152
)
 

NET INCOME APPLICABLE TO COMMON SHAREHOLDERS
 
$
1,069

 
$
159

 
570.6

 
  
    
 
 
 
 
EARNINGS PER SHARE
  
 
 
 
 
 
Basic Earnings per Share
  
$
3.96

 
$
0.62

 
538.7

Diluted Earnings per Share
  
$
3.89

 
$
0.60

 
548.3

 
  
 
 
 
 
 
AVERAGE SHARES OUTSTANDING (in thousands)
  
 
 
 
 
 
Basic
  
269,943
 
258,354
 
 
Diluted
  
274,775
 
264,621
 
 





Page 2



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

 
 
September 30, 2019
 
September 30, 2018
 
 
(Unaudited)
 
 
 
 
Preliminary
 
 
ASSETS
 
 
 
 
Cash and equivalents
 
$
536

 
$
1,140

Restricted cash
 
54

 
96

Short-term investments
 
30

 
17

Trade receivables, net
 
2,335

 
2,319

Inventories
 
2,579

 
2,451

Assets held for sale
 

 
137

Prepaid expenses and other
 
1,110

 
1,251

TOTAL CURRENT ASSETS
 
6,644

 
7,411

Property, plant and equipment, net
 
5,659

 
5,375

Goodwill and other intangibles, net
 
38,463

 
40,041

Other Assets
 
1,075

 
1,078

TOTAL ASSETS
 
$
51,842

 
$
53,904

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
Short-term debt
 
$
1,309

 
$
2,601

Other current liabilities
 
4,289

 
4,615

Long-term debt
 
18,081

 
18,894

Long-term employee benefit obligations
 
1,272

 
1,056

Deferred income taxes and other
 
5,714

 
5,743

Shareholders’ equity
 
21,177

 
20,994

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
 
$
51,842

 
$
53,904



The preliminary balance sheet is estimated based on the Company's current information.







Page 3



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


 
 
Twelve Months Ended September 30,
 
 
2019
 
2018
 
 
(Unaudited)
 
 
 
 
Preliminary
 
 
OPERATING ACTIVITIES
 
 
 
 
Net income
 
$
1,220

 
$
311

Depreciation and amortization
 
2,253

 
1,978

Change in operating assets and liabilities and other, net
 
(143
)
 
576

NET CASH PROVIDED BY OPERATING ACTIVITIES
 
3,330

 
2,865

INVESTING ACTIVITIES
 
 
 
 
Capital expenditures
 
(957
)
 
(895
)
Acquisitions of businesses, net of cash acquired
 

 
(15,155
)
Proceeds from divestitures, net
 
477

 
534

Other, net
 
(261
)
 
(217
)
NET CASH USED FOR INVESTING ACTIVITIES
 
(741
)
 
(15,733
)
FINANCING ACTIVITIES
 
 
 
 
Change in credit facility borrowings
 
485

 

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

 
5,086

Payments of debt and term loans
 
(4,744
)
 
(3,996
)
Dividends paid
 
(984
)
 
(927
)
Other, net
 
(205
)
 
(220
)
NET CASH USED FOR FINANCING ACTIVITIES
 
(3,223
)
 
(58
)
Effect of exchange rate changes on cash and equivalents and restricted cash
 
(12
)
 
(17
)
NET DECREASE IN CASH AND EQUIVALENTS AND RESTRICTED CASH
 
(646
)
 
(12,943
)
OPENING CASH AND EQUIVALENTS AND RESTRICTED CASH
 
1,236

 
14,179

CLOSING CASH AND EQUIVALENTS AND RESTRICTED CASH
 
$
590

 
$
1,236



The preliminary cash flow is estimated based on the Company's current information.

Page 4



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

 
  
A
  
B
  
C=(A-B)/B
 
  
2019
 
2018
  
% Change
BD MEDICAL
  
 
  
 
  
 
Medication Delivery Solutions
  
$
520

  
$
512

 
1.5

Medication Management Solutions
  
573

  
542

 
5.6

Diabetes Care
  
151

  
149

 
1.3

Pharmaceutical Systems
  
123

  
118

 
4.2

TOTAL
  
$
1,366

  
$
1,322

 
3.4

 
  
 
  
 
  
 
BD LIFE SCIENCES
  
 
  
 
  
 
Preanalytical Systems
  
$
200

 
$
196

 
2.0

Diagnostic Systems
  
162

 
159

 
1.8

Biosciences
  
140

 
125

 
11.5

TOTAL
  
$
502

 
$
481

 
4.4

 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
Surgery
 
$
279

 
$
259

 
7.8

Peripheral Intervention
 
207

 
201

 
3.3

Urology and Critical Care
 
207

 
186

 
11.3

TOTAL
 
$
693

 
$
646

 
7.4

 
 
 
 
 
 
 
TOTAL UNITED STATES
  
$
2,562

 
$
2,448

 
4.6






Page 5



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - INTERNATIONAL
Three Months Ended September 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
  
$
468

 
$
454

 
$
(13
)
 
2.9

 
5.8

Medication Management Solutions
  
161

 
149

 
(6
)
 
7.5

 
11.4

Diabetes Care
  
141

 
135

 
(3
)
 
3.9

 
6.4

Pharmaceutical Systems
  
302

 
285

 
(10
)
 
5.8

 
9.3

TOTAL
  
$
1,071

 
$
1,025

 
$
(33
)
 
4.5

 
7.7

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
 
 
 
 
Preanalytical Systems
  
$
193

 
$
197

 
$
(6
)
 
(1.8
)
 
1.3

Diagnostic Systems
  
247

 
224

 
(6
)
 
10.1

 
12.6

Biosciences
  
192

 
206

 
(4
)
 
(6.8
)
 
(4.8
)
TOTAL
  
$
632

 
$
627

 
$
(16
)
 
0.8

 
3.3

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
76

 
$
69

 
$
(2
)
 
10.6

 
13.3

Peripheral Intervention
 
154

 
148

 
(4
)
 
3.9

 
6.7

Urology and Critical Care
 
90

 
85

 
(1
)
 
5.1

 
6.8

TOTAL
 
$
319

 
$
302

 
$
(8
)
 
5.7

 
8.3

 
  
 
  
 
  
 
 
 
 
 
TOTAL INTERNATIONAL
  
$
2,022

 
$
1,954

 
$
(56
)
 
3.5

 
6.4






Page 6



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - TOTAL
Three Months Ended September 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
  
$
988

 
$
967

 
$
(13
)
 
2.2

 
3.5

Medication Management Solutions
  
733

 
692

 
(6
)
 
6.0

 
6.8

Diabetes Care
  
292

 
285

 
(3
)
 
2.5

 
3.7

Pharmaceutical Systems
  
425

 
403

 
(10
)
 
5.3

 
7.8

TOTAL
  
$
2,437

 
$
2,346

 
$
(33
)
 
3.9

 
5.3

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
 
 
 
 
 
 
 
Preanalytical Systems
  
$
393

 
$
393

 
$
(6
)
 
0.1

 
1.6

Diagnostic Systems
  
409

 
384

 
(6
)
 
6.6

 
8.1

Biosciences
  
332

 
331

 
(4
)
 
0.1

 
1.4

TOTAL
  
$
1,134

 
$
1,108

 
$
(16
)
 
2.3

 
3.8

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
355

 
$
328

 
$
(2
)
 
8.3

 
8.9

Peripheral Intervention
 
361

 
348

 
(4
)
 
3.5

 
4.7

Urology and Critical Care
 
297

 
271

 
(1
)
 
9.3

 
9.9

TOTAL
 
$
1,013

 
$
948

 
$
(8
)
 
6.9

 
7.7

 
  
 
 
 
 
 
 
 
 
 
TOTAL REVENUES
  
$
4,584

 
$
4,402

 
$
(56
)
 
4.1

 
5.4






Page 7



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - UNITED STATES
Twelve Months Ended September 30,
(Unaudited; Amounts in millions)
 
  
A
  
B
  
C=(A-B)/B
 
  
2019
 
2018
  
% Change
BD MEDICAL
  
 
  
 
  
 
Medication Delivery Solutions
  
$
2,048

 
$
1,892

 
8.3

Medication Management Solutions
  
2,104

 
1,957

 
7.5

Diabetes Care
  
573

 
564

 
1.5

Pharmaceutical Systems
  
392

 
357

 
9.7

TOTAL
  
$
5,116

 
$
4,770

 
7.3

 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
Preanalytical Systems
  
$
774

 
$
761

 
1.7

Diagnostic Systems
  
672

 
678

 
(0.8
)
Biosciences
  
485

 
475

 
2.0

TOTAL
  
$
1,931

 
$
1,914

 
0.9

 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
Surgery
 
$
1,098

 
$
946

 
16.0

Peripheral Intervention
 
787

 
594

 
32.5

Urology and Critical Care
 
797

 
544

 
46.6

TOTAL
 
$
2,682

 
$
2,084

 
28.7

 
  
 
  
 
  
 
TOTAL UNITED STATES
  
$
9,730

 
$
8,768

 
11.0




Page 8



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - INTERNATIONAL
Twelve Months Ended September 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
  
$
1,811

 
$
1,752

 
$
(97
)
 
3.4

 
8.9

Medication Management Solutions
  
525

 
513

 
(26
)
 
2.4

 
7.5

Diabetes Care
  
538

 
541

 
(26
)
 
(0.5
)
 
4.3

Pharmaceutical Systems
  
1,073

 
1,040

 
(47
)
 
3.1

 
7.6

TOTAL
  
$
3,947

 
$
3,846

 
$
(196
)
 
2.6

 
7.7

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
 
 
 
 
Preanalytical Systems
  
$
784

 
$
792

 
$
(46
)
 
(1.0
)
 
4.8

Diagnostic Systems
  
875

 
858

 
(39
)
 
1.9

 
6.5

Biosciences
  
709

 
766

 
(27
)
 
(7.4
)
 
(3.8
)
TOTAL
  
$
2,368

 
$
2,416

 
$
(113
)
 
(2.0
)
 
2.7

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
299

 
$
245

 
$
(13
)
 
22.0

 
27.5

Peripheral Intervention
 
602

 
451

 
(29
)
 
33.5

 
40.0

Urology and Critical Care
 
342

 
256

 
(12
)
 
33.5

 
38.4

TOTAL
 
$
1,244

 
$
953

 
$
(55
)
 
30.6

 
36.3

 
  
 
  
 
  
 
 
 
 
 
TOTAL INTERNATIONAL
  
$
7,560

 
$
7,215

 
$
(363
)
 
4.8

 
9.8




Page 9



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - TOTAL
Twelve Months Ended September 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
  
$
3,859

 
$
3,644

 
$
(97
)
 
5.9

 
8.6

Medication Management Solutions
  
2,629

 
2,470

 
(26
)
 
6.4

 
7.5

Diabetes Care
  
1,110

 
1,105

 
(26
)
 
0.5

 
2.9

Pharmaceutical Systems
  
1,465

 
1,397

 
(47
)
 
4.8

 
8.2

TOTAL
  
$
9,064

 
$
8,616

 
$
(196
)
 
5.2

 
7.5

 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
  
 
  
 
 
 
 
 
Preanalytical Systems
  
$
1,558

 
$
1,553

 
$
(46
)
 
0.3

 
3.3

Diagnostic Systems
  
1,547

 
1,536

 
(39
)
 
0.7

 
3.3

Biosciences
  
1,194

 
1,241

 
(27
)
 
(3.8
)
 
(1.6
)
TOTAL
  
$
4,300

 
$
4,330

 
$
(113
)
 
(0.7
)
 
1.9

 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
1,397

 
$
1,192

 
$
(13
)
 
17.3

 
18.4

Peripheral Intervention
 
1,389

 
1,045

 
(29
)
 
33.0

 
35.8

Urology and Critical Care
 
1,140

 
800

 
(12
)
 
42.4

 
44.0

TOTAL
 
$
3,926

 
$
3,037

 
$
(55
)
 
29.3

 
31.1

 
  
 
  
 
  
 
 
 
 
 
TOTAL REVENUES
  
$
17,290

 
$
15,983

 
$
(363
)
 
8.2

 
10.5





Page 10



BECTON DICKINSON AND COMPANY
SUPPLEMENTAL INFORMATION
RECONCILIATION OF REPORTED REVENUE CHANGE TO COMPARABLE REVENUE CHANGE - UNITED STATES
Three Months Ended September 30,
(Unaudited; Amounts in millions)
 
  
 
 
  
 
 
 
  
 
 
  
 
 
  
A
 
  
B
 
C
  
D=B+C
 
  
E=(A-D)/D
 
 
BD Reported
 
 
BD Reported
 
Divestiture Adjustments (a)
 
Comparable
 
 
Comparable % Change
 
  
2019
 
 
2018
 
  
2018
 
  
BD MEDICAL
  
 
 
  
 
 
 
  
 
 
  
 
Medication Delivery Solutions
  
$
520

 
  
$
512

 
$

 
$
512

 
  
1.5

Medication Management Solutions
  
573

 
  
542

 

 
542

 
  
5.6

Diabetes Care
  
151

 
  
149

 

 
149

 
  
1.3

Pharmaceutical Systems
  
123

 
  
118

 

 
118

 
  
4.2

TOTAL
  
$
1,366

 
  
$
1,322

 
$

 
$
1,322

 
  
3.4

 
 
 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
  
 
 
 
 
 
 
  
 
Preanalytical Systems
  
$
200

 
  
$
196

 
$

 
$
196

 
  
2.0

Diagnostic Systems
  
162

 
  
159

 

 
159

 
  
1.8

Biosciences
  
140

 
  
125

 
(6
)
 
119

 
  
16.9

TOTAL
  
$
502

 
  
$
481

 
$
(6
)
 
$
475

 
  
5.7

 
 
 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
279

 
 
$
259

 
$

 
$
259

 
 
7.8

Peripheral Intervention
 
207

 
 
201

 

 
201

 
 
3.3

Urology and Critical Care
 
207

 
 
186

 

 
186

 
 
11.3

TOTAL
 
$
693

 
 
$
646

 
$

 
$
646

 
 
7.4

 
  
 
 
  
 
 
 
  
 
 
  
 
TOTAL UNITED STATES
  
$
2,562

 
  
$
2,448

 
$
(6
)
 
$
2,442

 
  
4.9


(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 September 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
  
$
468

  
  
$
454

 
$

 
$
454

  
  
$
(14
)
 
6.0

Medication Management Solutions
  
161

  
  
149

 

 
149

  
  
(6
)
 
11.4

Diabetes Care
  
141

  
  
135

 

 
135

  
  
(4
)
 
6.6

Pharmaceutical Systems
  
302

  
  
285

 

 
285

  
  
(10
)
 
9.3

TOTAL
  
$
1,071

  
  
$
1,025

 
$

 
$
1,025

  
  
$
(34
)
 
7.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
  
 
 
 
 
 
 
  
 
 
 
Preanalytical Systems
  
$
193

  
  
$
197

 
$

 
$
197

  
  
$
(7
)
 
1.9

Diagnostic Systems
  
247

  
  
224

 

 
224

  
  
(7
)
 
13.2

Biosciences
  
192

  
  
206

 
(23
)
 
183

  
  
(5
)
 
7.7

TOTAL
  
$
632

  
  
$
627

 
$
(23
)
 
$
604

  
  
$
(19
)
 
7.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
76

 
 
$
69

 
$

 
$
69

 
 
$
(2
)
 
13.3

Peripheral Intervention
 
154

 
 
148

 

 
148

 
 
(4
)
 
6.7

Urology and Critical Care
 
90

 
 
85

 

 
85

 
 
(1
)
 
6.8

TOTAL
 
$
319

 
 
$
302

 
$

 
$
302

 
 
$
(8
)
 
8.3

 
  
 
 
  
 
 
 
 
 
 
  
 
 
 
TOTAL INTERNATIONAL
  
$
2,022

  
  
$
1,954

 
$
(23
)
 
$
1,931

  
  
$
(60
)
 
7.9


(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 September 30, 2019.  The total foreign currency translation impact above includes $4 million that was calculated by comparing local currency revenues in Argentina for the quarter ended September 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 September 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
  
$
988

  
  
$
967

 
$

 
$
967

  
  
$
(14
)
 
3.6

Medication Management Solutions
  
733

  
  
692

 

 
692

  
  
(6
)
 
6.8

Diabetes Care
  
292

  
  
285

 

 
285

  
  
(4
)
 
3.8

Pharmaceutical Systems
  
425

  
  
403

 

 
403

  
  
(10
)
 
7.8

TOTAL
  
$
2,437

  
  
$
2,346

 
$

 
$
2,346

  
  
$
(34
)
 
5.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD LIFE SCIENCES
  
 
 
  
 
 
 
 
 
 
  
 
 
 
Preanalytical Systems
  
$
393

  
  
$
393

 
$

 
$
393

  
  
$
(7
)
 
1.9

Diagnostic Systems
  
409

  
  
384

 

 
384

  
  
(7
)
 
8.4

Biosciences
  
332

  
  
331

 
(29
)
 
302

  
  
(5
)
 
11.4

TOTAL
  
$
1,134

  
  
$
1,108

 
$
(29
)
 
$
1,079

  
  
$
(19
)
 
6.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BD INTERVENTIONAL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Surgery
 
$
355

 
 
$
328

 
$

 
$
328

 
 
$
(2
)
 
8.9

Peripheral Intervention
 
361

 
 
348

 

 
348

 
 
(4
)
 
4.7

Urology and Critical Care
 
297

 
 
271

 

 
271

 
 
(1
)
 
9.9

TOTAL
 
$
1,013

 
 
$
948

 
$

 
$
948

 
 
$
(8
)
 
7.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL REVENUES
  
$
4,584

  
  
$
4,402

 
$
(29
)
 
$
4,373

  
  
$
(60
)
 
6.2


(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 September 30, 2019.  The total foreign currency translation impact above includes $4 million that was calculated by comparing local currency revenues in Argentina for the quarter ended September 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
Twelve Months Ended September 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
  
$
2,048

 
$

 
$
2,048

 
  
$
1,892

 
$
145

 
$
(3
)
  
$
(9
)
 
$
2,025

 
  
1.2

Medication Management Solutions
  
2,104

 

 
2,104