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Becton Dickinson Co (BDX) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2020

Becton Dickinson Co

HISTORY TOOLS
CIK: 10795 Ticker: BDX

Exhibit 99.1

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



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Contact:
Kristen M. Stewart, CFA, Strategy & Investor Relations - 201-847-5378
Kristen Cardillo, Corporate Communications - 201-847-5657



BD ANNOUNCES FISCAL FOURTH QUARTER AND FULL YEAR 2020 RESULTS; PROVIDES FISCAL 2021 GUIDANCE

•Fiscal fourth quarter revenues of $4.784 billion grew 4.4% on a reported and currency-neutral basis.
•BD’s COVID-19 testing sales totaled more than $440 million in the fourth fiscal quarter.
•Fiscal fourth quarter GAAP EPS were $0.36. Non-GAAP EPS were $2.79.

Franklin Lakes, NJ (November 5, 2020)
- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $4.784 billion for the fourth fiscal quarter ended September 30, 2020. This represents an increase of 4.4% over the prior-year period on both a reported and currency-neutral basis.

“I’m extremely proud of the team for their execution this quarter, as we delivered sequential improvement across each of our segments and successfully launched our Veritor SARS-CoV-2 assay. Collectively, we drove mid-single-digit revenue growth, building on the strength of our COVID-19 diagnostics revenues to overcome headwinds from both COVID-19 and Alaris,” said Tom Polen, CEO and president of BD. “Looking to fiscal 2021, BD remains focused on partnering with governments, health care systems, and health care professionals to navigate the COVID-19 pandemic, ensure access to rapid diagnostics and enable care for patients around the world. We are aligned on our priorities and steadfast in our commitments, including completing our Alaris 510(k) submission, investing in innovation and strategic growth initiatives, simplifying our processes and empowering our organization.”

Fiscal Fourth Quarter 2020 Operating Results
As reported, diluted earnings per share for the fiscal fourth quarter were $0.36, compared with $0.45 in the prior-year period, which represents a decrease of 20.0%. Adjusted diluted earnings per share were $2.79, compared with $3.31 in the prior-year period, which represents a decrease of 15.7%, or 15.1% on a currency-neutral basis.

Segment Results
In the BD Medical segment, worldwide revenues for the fiscal fourth quarter of $2.318 billion decreased 4.9% from the prior-year period on both a reported and currency-neutral basis. The segment's results reflect the BD AlarisTM System remediation in the Medication Management Solutions unit and the impact of COVID-19 across the segment. The impact of COVID-19 is primarily reflected in the Medication Delivery Solutions, Diabetes Care and Medication Management Solutions units. These were partially offset by continued strong performance in the Pharmaceutical Systems unit. Within the Medication Delivery Solutions unit, the recovery in hospital admission rates and non-acute procedure volumes improved sequentially from the fiscal third quarter but remained below pre-COVID levels in the fiscal fourth quarter.

The following information was filed by Becton Dickinson Co (BDX) on Thursday, November 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Becton Dickinson Co's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Accounting Changes
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Detail)
Acquisitions - Fair Value Of Consideration Transferred (Detail)
Acquisitions - Summary Of Pro Forma Results (Detail)
Benefit Plans
Benefit Plans (Tables)
Benefit Plans - Additional Information (Detail)
Benefit Plans - Change In Benefit Obligation, Change In Fair Value Of Plan Assets (Detail)
Benefit Plans - Expected Benefit Payments (Detail)
Benefit Plans - Fair Value Measurements Of Plan Assets (Detail)
Benefit Plans - Net Pension And Other Postretirement Cost (Detail)
Benefit Plans - Pension Plans With Accumulated Benefit Obligations (Detail)
Benefit Plans - Weighted Average Assumptions Determining Pension Plan (Detail)
Business Restructuring Charges
Business Restructuring Charges (Tables)
Business Restructuring Charges - Changes In Restructuring Balance (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies Future Minimum Rental Commitments (Tables)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Debt Exchange (Detail)
Debt - Extinguishments Of Debt (Details)
Debt - Summary Of Interest Costs And Payments (Detail)
Debt - Summary Of Long-Term Debt (Detail)
Debt - Summary Of Short-Term Debt (Detail)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Detail)
Derivative Instruments And Hedging Activities Disclosure - Gains (Losses) On Net Investment Hedges (Details)
Divestiture
Divestiture - Additional Information (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Weighted Average Common Shares Used In Computations Of Basic And Diluted Earnings Per Share (Details)
Earnings Per Share - Weighted Average Common Shares Used In Computations Of Basic And Diluted Earnings Per Share Footnotes (Details)
Financial Instruments And Fair Value Measurement - Cash And Equivalents And Restricted Cash (Details)
Financial Instruments And Fair Value Measurements
Financial Instruments And Fair Value Measurements (Tables)
Financial Instruments And Fair Value Measurements - Additional Information (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Income From Continuing Operations Before Income Taxes (Detail)
Income Taxes - Deferred Income Taxes (Detail)
Income Taxes - Provision For Income Taxes From Continuing Operations (Detail)
Income Taxes - Reconciliation Of Federal Statutory Tax Rate To Company's Effective Tax Rate (Detail)
Income Taxes - Summary Of Gross Amounts Of Unrecognized Tax Benefits (Detail)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Additional Information (Detail)
Intangible Assets - Components Of Intangible Assets (Detail)
Intangible Assets - Reconciliation Of Goodwill By Business Segment (Detail)
Leases - Lessee, Operating Lease, Liability, Maturity (Details)
Leases - Schedule Of Future Minimum Rental Payments For Operating Leases (Details)
Leases - Supplemental Balance Sheet Information Related To Leases (Details)
Leases, Codification Topic 842
Leases, Codification Topic 842 (Details)
Leases, Codification Topic 842 (Policies)
Leases, Codification Topic 842 (Tables)
Revenues
Revenues Revenues - Additional Information (Details)
Segment Data
Segment Data (Tables)
Segment Data - Additional Information (Detail)
Segment Data - Financial Information For Company's Segments (Detail)
Segment Data - Revenues To Unaffiliated Customers And Long-Lived Assets Including Property, Plant And Equipment (Detail)
Segment Data Segment Data - Revenues By Geographic Areas (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Additional Information (Detail)
Share-Based Compensation - Assumptions For Estimation Of Fair Values Of Stock Appreciation Rights Granted During Reporting Periods (Detail)
Share-Based Compensation - Compensation Cost Relating To Share-Based Payments (Detail)
Share-Based Compensation - Summary Of Performance-Based Restricted Stock Units Outstanding (Detail)
Share-Based Compensation - Summary Of Sars Outstanding (Detail)
Share-Based Compensation Fair Value Of Stock Units Vested (Details)
Share-Based Compensation Summary Of Sars Exercised (Details)
Share-Based Compensation Weighted Average Grant Date Fair Value Of Restricted Stock Units (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Accumulated Other Comprehensive (Loss) Income (Detail)
Shareholders' Equity - Additional Information (Detail)
Shareholders' Equity - Changes In Certain Components Of Shareholders' Equity (Detail Ii)
Shareholders' Equity - Changes In Certain Components Of Shareholders' Equity (Detail)
Shareholders' Equity - Other Comprehensive Income (Loss), Tax (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Inventories (Detail)
Supplemental Financial Information - Other Income (Expense), Net (Detail)
Supplemental Financial Information - Property, Plant And Equipment, Net (Detail)
Supplemental Financial Information - Trade Receivables, Allowances For Doubtful Accounts And Cash Discounts (Detail)
Supplementary Data (Unaudited)
Supplementary Data (Unaudited) (Tables)
Supplementary Data (Unaudited) - Additional Information (Detail)
Ticker: BDX
CIK: 10795
Form Type: 10-K Annual Report
Accession Number: 0000010795-20-000055
Submitted to the SEC: Wed Nov 25 2020 2:21:41 PM EST
Accepted by the SEC: Wed Nov 25 2020
Period: Wednesday, September 30, 2020
Industry: Surgical And Medical Instruments And Apparatus

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