Becton, Dickinson and (BDX) 10-K/A 21 Jan 10 2009 FY Annual report (amended) Financial data

Document and Company Informatio

Document and Company Information (USD $)
	12 Months Ended Sep. 30, 2009	Oct. 31, 2009	Mar. 31, 2009
Document and Company Information [Abstract]
Entity Registrant Name	BECTON DICKINSON & CO
Entity Central Index Key	0000010795
Document Type	10-K
Document Period End Date	2009-09-30
Amendment Flag	true
Amendment Description	10-K/A
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$16,063,979,260
Entity Common Stock, Shares Outstanding		237,118,874

Consolidated Statements of Inco

Consolidated Statements of Income (USD $)
In Thousands, except Per Share data	12 Months Ended Sep. 30, 2009		12 Months Ended Sep. 30, 2008		12 Months Ended Sep. 30, 2007
Operations
Revenues	$7,160,874		$7,074,942		$6,282,835
Cost of products sold	3,397,598		3,446,838		3,032,892
Selling and administrative expense	1,704,795		1,695,610		1,583,775
Research and development expense	408,128		395,631		359,371
Acquired in-process research and development	0		0		122,133
Total Operating Costs and Expenses	5,510,521		5,538,079		5,098,171
Operating Income	1,650,353		1,536,863		1,184,664
Interest expense	(40,389)		(36,343)		(46,420)
Interest income	33,148		39,368		46,221
Other (expense) income, net	(3,850)		(1,484)		944
Income From Continuing Operations Before Income Taxes	1,639,262		1,538,404		1,185,409
Income tax provision	426,208		422,537		343,890
Income from Continuing Operations	1,213,054		1,115,867		841,519
Income from Discontinued Operations Net of income tax provision of $5,014, $2,585 and $19,131	18,549		11,129		48,514
Net Income	$1,231,603		$1,126,996		$890,033
Basic Earnings Per Share
Income from Continuing Operations	5.04		4.57		3.44
Income from Discontinued Operations	0.08		0.05		0.2
Basic Earnings per Share	5.12	[1]	4.61	[1]	3.63	[1]
Diluted Earnings Per Share
Income from Continuing Operations	4.92		4.42		3.3
Income from Discontinued Operations	0.08		0.04		0.19
Diluted Earnings per Share	4.99	[1]	4.46	[1]	3.49	[1]
[1]Total per share amounts may not add due to rounding.

1_Consolidated Statements of In

Consolidated Statements of Income (Parenthetical) (USD $)
In Thousands	12 Months Ended Sep. 30, 2009	12 Months Ended Sep. 30, 2008	12 Months Ended Sep. 30, 2007
Operations
Provision for income tax (benefit) on discontinued operations	$5,014	$2,585	$19,131

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (USD $)
In Thousands	12 Months Ended Sep. 30, 2009	12 Months Ended Sep. 30, 2008	12 Months Ended Sep. 30, 2007
Net Income	$1,231,603	$1,126,996	$890,033
Other Comprehensive (Loss) Income, Net of Tax
Foreign currency translation adjustments	29,358	(80,305)	250,411
Minimum pension liability adjustment	0	0	3,159
Defined benefit pension and postretirement plans	(242,478)	(42,862)	0
Unrealized gain (loss) on investments, net of amounts recognized	41	(42)	(10,643)
Unrealized (loss) gain on cash flow hedges, net of amounts realized	(82,073)	43,871	(2,596)
Other Comprehensive (Loss) Income, Net of Tax	(295,152)	(79,338)	240,331
Comprehensive Income	$936,451	$1,047,658	$1,130,364

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $)
In Thousands	Sep. 30, 2009	Sep. 30, 2008
Current Assets
Cash and equivalents	$1,394,244	$830,477
Short-term investments	551,561	199,942
Trade receivables, net	1,168,662	1,079,051
Inventories	1,156,762	1,080,426
Prepaid expenses, deferred taxes and other	375,725	424,779
Total Current Assets	4,646,954	3,614,675
Property, Plant and Equipment, Net	2,966,629	2,744,474
Goodwill	621,872	625,768
Core and Developed Technology, Net	309,990	348,531
Other Intangibles, Net	96,659	89,675
Capitalized Software, Net	197,224	133,486
Other	465,296	356,334
Total Assets	9,304,624	7,912,943
Current Liabilities
Short-term debt	402,965	201,312
Accounts payable	264,181	260,882
Accrued expenses	646,540	519,117
Salaries, wages and related items	459,742	406,379
Income taxes	3,665	28,889
Total Current Liabilities	1,777,093	1,416,579
Long-Term Debt	1,488,460	953,226
Long-Term Employee Benefit Obligations	782,034	464,982
Deferred Income Taxes and Other	114,325	142,588
Shareholders' Equity
Common stock - $1 par value: authorized - 640,000,000 shares; issued - 332,662,160 shares in 2009 and 2008	332,662	332,662
Capital in excess of par value	1,485,674	1,359,531
Retained earnings	7,752,831	6,838,589
Deferred compensation	17,906	14,694
Common stock in treasury - at cost - 95,579,970 shares in 2009 and 89,584,786 shares in 2008	(4,073,699)	(3,532,398)
Accumulated other comprehensive loss	(372,662)	(77,510)
Total Shareholders' Equity	5,142,712	4,935,568
Total Liabilities and Shareholders' Equity	$9,304,624	$7,912,943

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (USD $)
	Sep. 30, 2009	Sep. 30, 2008
Shareholders' Equity
Common stock, par value	1	1
Common stock, shares authorized	640,000,000	640,000,000
Common stock, shares issued	332,662,160	332,662,160
Common stock in treasury, shares	95,579,970	89,584,786

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (USD $)
In Thousands	12 Months Ended Sep. 30, 2009	12 Months Ended Sep. 30, 2008	12 Months Ended Sep. 30, 2007
Operating Activities
Net income	$1,231,603	$1,126,996	$890,033
Income from discontinued operations, net	(18,549)	(11,129)	(48,514)
Income from continuing operations, net	1,213,054	1,115,867	841,519
Adjustments to income from continuing operations to derive net cash provided by continuing operating activities, net of amounts acquired:
Depreciation and amortization	470,193	477,124	441,104
Share-based compensation	86,574	100,585	107,706
Deferred income taxes	60,041	80,088	(115,489)
Acquired in-process research and development	0	0	122,133
Change in operating assets and liabilities:
Trade receivables, net	(82,805)	(5,159)	(112,411)
Inventories	(98,344)	(49,324)	(122,863)
Prepaid expenses, deferred taxes and other	(28,483)	(29,617)	(25,214)
Accounts payable, income taxes and other liabilities	119,893	(14,375)	103,392
Pension obligation	(68,574)	(56,083)	(22,119)
Other, net	19,971	45,354	12,189
Net Cash Provided by Continuing Operating Activities	1,691,520	1,664,460	1,229,947
Investing Activities
Capital expenditures	(591,103)	(601,684)	(556,287)
Capitalized software	(109,588)	(49,306)	(22,334)
Change in short-term investments	(338,228)	(46,321)	(30,167)
Proceeds (purchases) of long-term investments	840	(5,666)	(3,881)
Acquisitions of businesses, net of cash acquired	0	(41,259)	(339,528)
Divestiture of businesses	51,022	0	19,971
Other, net	(85,900)	(38,491)	(85,922)
Net Cash Used for Continuing Investing Activities	(1,072,957)	(782,727)	(1,018,148)
Financing Activities
Change in short-term debt	1,196	(5,938)	(121,102)
Proceeds from long-term debt	739,232	0	0
Payments of debt	(311)	(1,114)	(100,790)
Repurchase of common stock	(550,006)	(450,001)	(450,124)
Issuance of common stock and other, net	32,403	85,396	130,679
Excess tax benefit from payments under share-based compensation plans	14,667	64,335	55,118
Dividends paid	(316,877)	(278,506)	(239,810)
Net Cash Used for Continuing Financing Activities	(79,696)	(585,828)	(726,029)
Discontinued Operations:
Net cash provided by operating activities	25,296	22,638	10,488
Net cash used for investing activities	(6)	(296)	(106)
Net Cash Provided by Discontinued Operations	25,290	22,342	10,382
Effect of exchange rate changes on cash and equivalents	(390)	748	15,041
Net Increase (Decrease) in Cash and Equivalents	563,767	318,995	(488,807)
Opening Cash and Equivalents	830,477	511,482	1,000,289
Closing Cash and Equivalents	$1,394,244	$830,477	$511,482

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Sep. 30, 2009 USD / shares
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of Becton, Dickinson and Company and its majority-owned subsidiaries (the Company) after the elimination of intercompany transactions. The Company has no material interests in variable interest entities. Cash Equivalents Cash equivalents consist of all highly liquid investments with a maturity of three months or less at time of purchase. Short-Term Investments Short-term investments consist of time deposits with maturities greater than three months and less than one year when purchased. Inventories Inventories are stated at the lower of first-in, first-out cost or market. Property, Plant and Equipment Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are principally provided on the straight-line basis over estimated useful lives, which range from 20 to 45years for buildings, four to 10years for machinery and equipment and one to 20years for leasehold improvements. Depreciation and amortization expense was $317,227, $305,252 and $280,110 in fiscal 2009, 2008 and 2007, respectively. Goodwill and Other Intangible Assets Goodwill is reviewed annually for impairment. Potential impairment is identified by comparing the fair value of a reporting unit, estimated using an income approach, with its carrying value. Core and developed technology is amortized over periods ranging from 15 to 20years, using the straight-line method. Both goodwill and core and developed technology arise from acquisitions. Other intangibles with finite useful lives, which include patents, are amortized over periods principally ranging from one to 40years, using the straight-line method. These intangibles, including core and developed technology, are periodically reviewed when impairment indicators are present to assess recoverability from future operations using undiscounted cash flows. To the extent carrying value exceeds the undiscounted cash flows, an impairment loss is recognized in operating results based upon the excess of the carrying value over fair value. Other intangibles also include certain trademarks that are considered to have indefinite lives, as they are expected to generate cash flows indefinitely, and are reviewed annually for impairment. Capitalized Software Capitalized software, including costs for software developed or obtained for internal use is stated at cost, less accumulated amortization. Amortization expense is principally provided on the straight-line basis over estimated useful lives, which do not exceed 10years. The current balance includes capital software investments related to an enterprise-wide program to upgrade the Companys business information systems. Amortization expense was $46,739, $56,612 and $66,394 for 2009, 2008 and 2007, respectively. Foreign Currency Translation Generally, the net assets of foreign operations are translated into U.S. dollars using current exchange rates. The U.S. dollar results that arise from such translation, as well as exchange gains and los

Accounting Changes

Accounting Changes
	12 Months Ended Sep. 30, 2009 USD / shares
Accounting Changes [Abstract]
Accounting Changes	Note 2 Accounting Changes In June2009, the Financial Accounting Standards Board (FASB) established the FASB Accounting Standards Codification (the Codification) as the official source of authoritative GAAP (other than guidance issued by the SEC) for all non-governmental entities. The Codification, which changes the referencing of financial standards, supersedes pre-Codification authoritative guidance. The Codification did not change or alter existing GAAP and did not result in a change in accounting practice for the Company upon adoption on September30, 2009. In May2009, the FASB issued guidance regarding subsequent events (events or transactions occurring after the balance sheet date but before financial statements are issued). The Company adopted these requirements on June30, 2009. The adoption of these requirements did not impact the consolidated financial statements and the required disclosures are included in Note 1. In March2008, the FASB issued guidance requiring qualitative disclosures regarding how and why an entity uses derivative instruments as well as disclosures detailing the entitys accounting for these instruments and related hedged items. Entities are also required to provide tabular disclosures that quantify the effects derivative instruments and hedged items have on financial position, financial performance, and cash flows. The Company adopted the disclosure requirements on March31, 2009 and there was no impact to the consolidated financial statements as a result of such adoption. The required disclosures are included in Note 10. In September2006, the FASB issued new requirements relating to fair value measurements. The guidance defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures relating to fair value measurements. In February2008, the FASB deferred implementation of fair value measurements, in accordance with the new requirements, for nonfinancial assets and nonfinancial liabilities not measured at fair value on a recurring basis (at least annually) for one year. The Company implemented the fair value measurement requirements for financial assets and liabilities, as well as other assets measured at fair value on a recurring basis, on October1, 2008. The effect of this adoption did not materially impact the Companys consolidated financial statements and the required disclosures are included in Note 11. The Company is assessing the impact of adopting the fair value measurement requirements for nonfinancial assets and liabilities measured on a nonrecurring basis, on October1, 2009. The impact to the consolidated financial statements is not expected to be material. On October1, 2007, the Company adopted guidance relating to the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Upon implementing this guidance, the Company recognized a $5,084 increase in its existing liability for uncertain tax positions, with a corresponding decrease to the October1, 2007 retained earnings balance. The Company also reclassified the total amount of unrecognized tax benefits of $71,782 from a current liability

Acquisitions

Acquisitions
	12 Months Ended Sep. 30, 2009 USD / shares
Acquisitions [Abstract]
Acquisitions	Note 3 Acquisitions Cytopeia On May12, 2008, the Company acquired 100% of the outstanding stock of Cytopeia, Inc., a privately-held corporation that develops and markets advanced flow cytometry cell sorting instruments. The acquisition advances the Companys position in rapidly emerging areas of cell-based research, such as cell therapy research, stem cell research, drug discovery and development, and marine biology. The acquisition was accounted for under the purchase method of accounting and the results of operations of Cytopeia were included in the Biosciences segments results as of the acquisition date. Pro forma information was not provided as the acquisition did not have a material effect on the Companys consolidated results. The purchase price was $42,914 in cash, including transaction costs. Cash assumed as of the valuation date was $1,655. The purchase price was allocated based upon the fair values of the assets and liabilities acquired. The purchase price allocation resulted in a deferred tax asset of $3,832, core and developed technology of $20,000, deferred tax liabilities of $7,904, primarily associated with core and developed technology; and other net assets of $3,713, primarily consisting of accounts receivable and inventory. Core and developed technology will be amortized on a straight-line basis over its estimated useful life of approximately 15years. The excess of the purchase price over the fair value of the assets acquired of $23,273 was recorded as goodwill. The primary item that generated goodwill is the value of the Companys access to new technologies and capabilities related to cell therapy research. No portion of this goodwill is expected to be deductible for tax purposes. TriPath On December20, 2006, the Company acquired the outstanding shares (approximately 93.8%) of TriPath Imaging, Inc. (TriPath) which it did not previously own. TriPath develops, manufactures, markets and sells innovative solutions to improve the clinical management of cancer, including detection, diagnosis, staging and treatment. The acquisition advances the Companys position in cancer diagnostics. The acquisition was accounted for under the purchase method of accounting and the results of operations of TriPath were included in the Companys results as of the acquisition date. Pro forma information was not provided as the acquisition did not have a material effect on the Companys consolidated results. The purchase price was $361,883 in cash, including transaction costs and other consideration. The purchase price was allocated based upon the fair values of the assets and liabilities acquired. The allocation of the purchase price resulted in deferred tax assets of $75,261 primarily consisting of net operating loss carry-forwards and credits; core and developed technology of $135,097; deferred tax liabilities of $52,662 primarily associated with other intangible assets; and other net assets of $56,736 consisting primarily of cash and trade receivables. Core and developed technology will be amortized on a straight-line basis over its estimated useful life of approximately 15years. The excess of the purchase price over the fair value o

Divestitures

Divestitures
	12 Months Ended Sep. 30, 2009 USD / shares
Divestitures [Abstract]
Divestitures	Note 4 Divestitures On July8, 2009, the Company sold certain assets and liabilities related to the elastics and thermometer components of the Home Healthcare product line of the Medical segment for $51,022. The Company recognized a pre-tax gain on sale of $18,145. Concurrent with the sale, the Company exited the remaining portion of the Home Healthcare product line. The results of operations associated with the Home Healthcare product line are reported as discontinued operations for all periods presented in the accompanying Condensed Consolidated Statements of Income and Cash Flows and related disclosures. On December11, 2006, the Company sold the blood glucose monitoring (BGM) product line for $19,971 and recognized a pre-tax gain on sale of $15,226. During 2007, adjustments of $9,319 were made to reduce sales returns and other accruals related to obligations that remained with the Company upon divestiture of the product line. Additionally, the Company received a payment of $4,675, which represented the resolution of a contingency with a former supplier. Following the sale, the Companys prior period Consolidated Statements of Income and Cash Flows and related disclosures have been restated to separately present the results of the BGM product line as discontinued operations. Results of discontinued operations for the years ended September30 were as follows: 2009 2008 2007 Revenues $ 55,871 $ 83,555 $ 109,958 Income from discontinued operations before income taxes 23,563 13,714 67,645 Less income tax provision 5,014 2,585 19,131 Income from discontinued operations, net $ 18,549 $ 11,129 $ 48,514

Other Intangible Assets

Other Intangible Assets
	12 Months Ended Sep. 30, 2009 USD / shares
Other Intangible Assets [Abstract]
Other Intangible Assets	Note 5 Other Intangible Assets Other intangible assets at September30 consisted of: 2009 2008 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Amortized intangible assets Core and developed technology $ 539,674 $ 229,684 $ 548,974 $ 200,443 Patents, trademarks, and other 312,430 218,531 297,321 216,697 $ 852,104 $ 448,215 $ 846,295 $ 417,140 Unamortized intangible assets Trademarks $ 2,760 $ 9,051 Intangible amortization expense was $47,464, $54,217 and $46,607 in 2009, 2008 and 2007, respectively. The estimated aggregate amortization expense for the fiscal years ending September 30, 2010 to 2014 are as follows: 2010 $47,100; 2011 $46,600; 2012 $43,800; 2013 $42,900; 2014 $41,900.

Benefit Plans

Benefit Plans
	12 Months Ended Sep. 30, 2009 USD / shares
Benefit Plans [Abstract]
Benefit Plans	Note 6 Benefit Plans The Company has defined benefit pension plans covering substantially all of its employees in the United States and certain foreign locations. The Company also provides certain postretirement healthcare and life insurance benefits to qualifying domestic retirees. Postretirement healthcare and life insurance benefit plans in foreign countries are not material. The measurement date used for the Companys employee benefit plans is September30. During 2007, the Company redesigned its U.S. pension plans to provide for a cash benefit formula by offering a one-time, irrevocable election to existing employees to change to this provision and mandating all new employees hired after April1, 2007 to participate in the new formula. The Company also amended its other postretirement benefits plan to provide that new hires, as of April 1, 2007 or later, will no longer be eligible for company subsidized benefits. These amendments did not have a material impact on the net pension and postretirement cost of the Company in 2007. Net pension and other postretirement cost for the years ended September30 included the following components: Pension Plans Other Postretirement Benefits 2009 2008 2007 2009 2008 2007 Service cost $ 55,004 $ 66,440 $ 69,869 $ 3,441 $ 4,648 $ 4,386 Interest cost 87,480 81,939 75,728 15,338 14,906 14,608 Expected return on plan assets (86,819 ) (97,218 ) (88,527 ) Amortization of prior service (credit)cost (1,099 ) (1,066 ) 348 (463 ) (6,232 ) (6,233 ) Amortization of loss (gain) 17,235 8,256 17,507 (143 ) 3,962 5,795 Amortization of net asset (59 ) (112 ) (92 ) Settlements 602 $ 71,742 $ 58,841 $ 74,833 $ 18,173 $ 17,284 $ 18,556 Net pension cost attributable to foreign plans included in the preceding table was $24,971, $20,072 and $21,156 in 2009, 2008 and 2007, respectively. The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Consolidated Balance Sheets for these plans were as follows: Other Postretirement Pension Plans Benefits 2009 2008 2009 2008 Change in benefit obligation: Beginning obligation $ 1,272,456 $ 1,394,430 $ 201,246 $ 245,971 Service cost 55,004 66,440 3,441 4,648 Interest cost 87,480 81,939 15,338 14,906 Plan amendments 380 Benefits paid (68,791 ) (71,517 ) (22,913 ) (22,303 ) Actuarial loss (gain) 279,414 (181,968 ) 43,334 (47,605 ) Other, includes translation 9,391 (16,868 ) 9,147 5,629 Benefit obligation at September 30

Income Taxes

Income Taxes
	12 Months Ended Sep. 30, 2009 USD / shares
Income Taxes [Abstract]
Income Taxes	Note 7 Income Taxes The provision for income taxes from continuing operations for the years ended September30 consisted of: 2009 2008 2007 Current: Federal $ 161,674 $ 268,508 $ 305,086 State and local, including Puerto Rico 10,516 13,651 21,342 Foreign 142,364 148,208 132,951 314,554 430,367 459,379 Deferred: Domestic 108,920 12,384 (94,306 ) Foreign 2,734 (20,214 ) (21,183 ) 111,654 (7,830 ) (115,489 ) $ 426,208 $ 422,537 $ 343,890 The components of Income From Continuing Operations Before Income Taxes for the years ended September30 consisted of: 2009 2008 2007 Domestic, including Puerto Rico $ 917,074 $ 781,267 $ 537,072 Foreign 722,188 757,137 648,337 $ 1,639,262 $ 1,538,404 $ 1,185,409 Deferred tax assets and liabilities are netted on the balance sheet by separate tax jurisdictions. At September30, 2009 and 2008, net current deferred tax assets of $169,505 and $211,188, respectively, were included in Prepaid expenses, deferred taxes and other. Net non-current deferred tax assets of $156,288 and $85,311, respectively, were included in Other. Net current deferred tax liabilities of $3,665 and $2,985, respectively, were included in Current Liabilities - Income taxes. Net non-current deferred tax liabilities of $18,191 and $35,519, respectively, were included in Deferred Income Taxes and Other. Deferred taxes are not provided on undistributed earnings of foreign subsidiaries that are indefinitely reinvested. At September30, 2009, the cumulative amount of such undistributed earnings indefinitely reinvested outside the United States was $2.6billion. Determining the tax liability that would arise if these earnings were remitted is not practicable. Deferred taxes are provided for earnings outside the United States when those earnings are not considered indefinitely reinvested. The following table summarizes the gross amounts of unrecognized tax benefits without regard to reduction in tax liabilities or additions to deferred tax assets and liabilities if such unrecognized tax benefits were settled: October1, 2008 $ 69,698 Increase due to current year tax positions 8,901 Increase due to prior year tax positions 1,872 Decrease due to settlements and lapse of statute of limitations (29,924 ) September30, 2009 $ 50,547 The total amount of unrecognized tax benefits, if recognized, would favorably impact the effective tax rate. Included in the above total is approximately $8,908 of interest and penalties, of which approximately $1,312 are reflected in the current year statement of operations. BD does not expect significant changes in the aggregate amount of unrecognized tax benefits that may occur within the next twelve months, other than

Supplemental Financial Informat

Supplemental Financial Information
	12 Months Ended Sep. 30, 2009 USD / shares
Supplemental Financial Information [Abstract]
Supplemental Financial Information	Note 8 Supplemental Financial Information Other (Expense) Income, Net Other (expense)income, net in 2009 was $(3,850), which primarily included foreign exchange losses (inclusive of hedging costs) of $(14,973), partially offset by equity investment income of $4,542 and income from license and other agreements of $6,387. Other (expense)income, net in 2008 was $(1,484), which primarily included foreign exchange losses (inclusive of hedging costs) of $(10,303), partially offset by equity investment income of $4,642 and income from license and other agreements of $3,386. Other (expense)income, net in 2007 was $944, which primarily included income from license and other agreements of $6,128, partially offset by net write downs of certain investments of $(5,538) and foreign exchange losses (inclusive of hedging costs) of $(4,191). Trade Receivables, Net Allowances for doubtful accounts and cash discounts netted against trade receivables were $48,509 and $35,614 at September30, 2009 and 2008, respectively. Inventories Inventories at September30 consisted of: 2009 2008 Materials $ 171,449 $ 162,726 Work in process 223,094 203,926 Finished products 762,219 713,774 $ 1,156,762 $ 1,080,426 Property, Plant and Equipment, Net Property, Plant and Equipment, Net at September30 consisted of: 2009 2008 Land $ 95,818 $ 93,339 Buildings 1,984,852 1,803,620 Machinery, equipment and fixtures 4,078,768 3,822,785 Leasehold improvements 81,891 78,251 6,241,329 5,797,995 Less accumulated depreciation and amortization 3,274,700 3,053,521 $ 2,966,629 $ 2,744,474

Debt

Debt
	12 Months Ended Sep. 30, 2009 USD / shares
Debt [Abstract]
Debt	Note 9 Debt Short-term debt at September30 consisted of: 2009 2008 Loans Payable Domestic $ 200,000 $ 200,000 Foreign 2,880 992 Current portion of long-term debt 200,085 320 $ 402,965 $ 201,312 Domestic loans payable consist of commercial paper. Foreign loans payable consist of short-term borrowings from financial institutions. The weighted average interest rates for Short-term debt were 3.68% and 2.3% at September30, 2009 and 2008, respectively. The Company has available a $1 billion syndicated credit facility with an expiration date in December2012. This credit facility provides backup support for the commercial paper program and can also be used for other general corporate purposes. It includes a restrictive covenant that requires a minimum interest coverage ratio, with which the Company was in compliance at September30, 2009. There were no borrowings outstanding under the facility at September30, 2009. In addition, the Company had short-term foreign lines of credit pursuant to informal arrangements of approximately $183,215 at September 30, 2009, almost all of which was unused. In May2009, the Company issued $500,000 of 10-year 5.00% notes and $250,000 of 30-year 6.00% notes. The net proceeds from these issuances were used for the repayment of $200,000 in 7.15% notes, due October1, 2009. The proceeds will also be used for general corporate purposes. A swap agreement with a notional amount of $200,000 that was used to convert the payments on the 7.15% notes from the fixed rate to a floating rate also matured on the same date as the loan. Long-Term Debt at September30 consisted of: 2009 2008 Domestic notes due through 2013 (average year-end interest rate: 2.1% - 2009; 2.4% - 2008) $ 8,079 $ 8,130 7.15% Notes due October1, 2009 205,372 4.55% Notes due April15, 2013 201,128 198,940 4.90% Notes due April15, 2018 205,232 205,734 5.00% Notes due May15, 2019 493,678 6.00% Notes due May15, 2039 245,293 7.00% Debentures due August1, 2027 168,000 168,000 6.70% Debentures due August1, 2028 167,050 167,050 $ 1,488,460 $ 953,226 Long-term debt balances as of September30, 2009 and 2008 have been impacted by certain interest rate swaps that have been designated as fair value hedges, as discussed in Note 10. The aggregate annual maturities of long-term debt during the fiscal years ending September30, 2011 to 2014 are as follows: 2011 $30; 2012 $31; 2013 $209,146; 2014 $0. The Company capitalizes interest costs as a component of the cost of construction in progress. A summary of interest costs for the years ended September30 were as follows: 2009 2008 2007 Charged to operations $ 40,389 $ 36,343 $ 46,420 Capitalized 29,360 29,862 27,528 $ 69,749 $ 66,205 $ 73,948 Interest paid, net of amounts capitalized, was $25,544 in 2009, $3

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities
	12 Months Ended Sep. 30, 2009 USD / shares
Derivative Instruments and Hedging Activities [Abstract]
Derivative Instruments and Hedging Activities	Note 10 Derivative Instruments and Hedging Activities The Company adopted new disclosure requirements, relating to derivative instruments and hedging activities on March31, 2009. These new provisions require qualitative disclosures regarding how and why an entity uses derivative instruments as well as how these instruments and related hedged items are accounted for under hedge accounting rules. Entities are also required to provide tabular disclosures that quantify the effects derivative instruments and hedged items have on financial position, financial performance, and cash flows. Foreign Currency Risks and Related Strategies The Company has foreign currency exposures throughout Europe, Asia Pacific, Canada, Japan and Latin America. The Company partially hedges forecasted export sales denominated in foreign currencies using forward and option contracts, generally with one-year terms. The Companys hedging program has been designed to mitigate exposures resulting from movements of the U.S. dollar, from the beginning of a reporting period, against other foreign currencies. The Companys strategy is to offset the changes in the present value of future foreign currency revenue resulting from these movements with either gains or losses in the fair value of foreign currency derivative contracts. The Companys option contracts expired in fiscal year 2008 and only forward contracts have been utilized to hedge forecasted sales for fiscal years 2009 and 2010. The Company designates forward contracts utilized to hedge these certain forecasted sales denominated in foreign currencies as cash flow hedges. Changes in the effective portion of the fair value of the Companys forward contracts that are designated and qualify as cash flow hedges (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk) are included in Other comprehensive income (loss)until the hedged transactions are reclassified in earnings. These changes result from the maturity of derivative instruments as well as the commencement of new derivative instruments. The changes also reflect movements in the period-end foreign exchange rates against the spot rates at the time the Company enters into any given derivative instrument contract. Once the hedged revenue transaction occurs, the gain or loss on the contract is recognized from Accumulated other comprehensive income (loss)to Revenues. The Company records the premium or discount of the forward contracts, which is included in the assessment of hedge effectiveness, to Revenues. At September30, 2009, the Company expects to reclassify $43,624, net of tax, of net losses on foreign currency exchange instruments from Accumulated other comprehensive income (loss)to revenues during the next 12months due to actual and forecasted export sales. In the event the revenue transactions underlying a derivative instrument are no longer probable of occurring, accounting for the instrument under hedge accounting must be discontinued. Gains and losses previously recognized in other comprehensive income (loss)must be reclassified into Other (expense)income. If only a portion of the revenu

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements
	12 Months Ended Sep. 30, 2009 USD / shares
Financial Instruments and Fair Value Measurements [Abstract]
Financial Instruments and Fair Value Measurements	Note 11 Financial Instruments and Fair Value Measurements The Company adopted issued fair value measurement requirements for financial assets and liabilities on October1, 2008. These provisions define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement provisions require the categorization of assets and liabilities carried at fair value within a three-level hierarchy based upon inputs used in measuring fair value. The fair values of financial instruments, including those not recognized on the statement of financial position at fair value, carried at September30, 2009 are classified in accordance with the fair value hierarchy in the table below: Basis of Fair Value Measurement Quoted Prices in Significant Active Markets Other Significant Carrying for Identical Observable Unobservable Value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Assets Cash and equivalents $ 617,220 $ 617,220 $ $ Forward exchange contracts 13,193 13,193 Interest rate swap 1,971 1,971 Total Assets $ 632,384 $ 617,220 $ 15,164 $ Liabilities Forward exchange contracts $ 89,470 $ $ 89,470 $ Commodity forward contracts 6 6 Long-term debt 1,488,460 1,610,314 Total Liabilities $ 1,577,936 $ $ 1,699,790 $ The Companys cash and equivalents include money market fund balances. The fair values of these investments are based upon the quoted prices provided by the holding financial institutions. The Companys remaining cash equivalents and short-term investments are carried at cost, which approximates fair value. The Company measures the fair value of forward exchange contracts and currency options based upon observable inputs, specifically spot currency rates and forward currency prices for similar assets and liabilities. The fair value of forward commodity contracts and interest rate swaps are provided by the financial institutions that are counterparties to these arrangements. The fair value of long-term debt is based upon quoted prices in active markets for similar instruments. Concentration of Credit Risk The Company maintains cash deposits in excess of government-provided insurance limits. Such cash deposits are exposed to loss in the event of nonperformance by financial institutions. Substantially all of the Companys trade receivables are due from public and private entities involved in the healthcare industry. Due to the large size and diversity of the Companys customer base, concentrations of credit risk with respect to trade receivables are limited. The Company does not normally require collateral. The Company is exposed to credit loss in the event of nonperformance by

Shareholders Equity

Shareholders Equity
	12 Months Ended Sep. 30, 2009 USD / shares
Shareholders' Equity [Abstract]
Shareholders' Equity	Note 12 Shareholders Equity Changes in certain components of shareholders equity were as follows: Common Capital in Stock Issued Excess of Retained Deferred Treasury Stock at Par Value Par Value Earnings Compensation Shares Amount Balance at September30, 2006 $ 332,662 $ 873,535 $ 5,345,697 $ 11,134 (87,194,060 ) $ (2,698,016 ) Net income 890,033 Cash dividends: Common ($.98 per share) (239,943 ) Common stock issued for: Share-based compensation plans, net 143,420 4,380,724 43,213 Business acquisitions 707 10,812 105 Share-based compensation 107,706 Common stock held in trusts, net 1,071 (70,542 ) (1,071 ) Repurchase of common stock (5,952,000 ) (450,124 ) Balance at September30, 2007 $ 332,662 $ 1,125,368 $ 5,995,787 $ 12,205 (88,825,066 ) $ (3,105,893 ) Net income 1,126,996 Cash dividends: Common ($1.14 per share) (279,110 ) Common stock issued for: Share-based compensation plans, net 132,372 4,649,160 25,866 Business acquisitions 1,206 16,327 118 Share-based compensation 100,585 Common stock held in trusts, net 2,489 (169,307 ) (2,489 ) Repurchase of common stock (5,255,900 ) (450,000 ) Cumulative effect for accounting change (see Note 2) (5,084 ) Balance at September30, 2008 $ 332,662 $ 1,359,531 $ 6,838,589 $ 14,694 (89,584,786 ) $ (3,532,398 ) Net income 1,231,603 Cash dividends: Common ($1.32 per share) (317,361 ) Common stock issued for: Share-based compensation plans, net 38,919 2,283,887 11,608 Business acquisitions 1,330 24,110 309 Share-based compensation 86,519 Common stock held in trusts, net 3,212 (91,681 ) (3,212 ) Repurchase of common stock (8,211,500 ) (550,006 ) Other changes (625 ) Balance at September30, 2009 $ 332,662 $ 1,485,674 $ 7,752,831 $ 17,906 (95,579,970 ) $ (4,073,699 )

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income
	12 Months Ended Sep. 30, 2009 USD / shares
Accumulated Other Comprehensive (Loss) Income [Abstract]
Accumulated Other Comprehensive (Loss) Income	Note 13 Accumulated Other Comprehensive (Loss) Income The components of Accumulated other comprehensive (loss)income were as follows: 2009 2008 Foreign currency translation adjustments $ 186,447 $ 157,089 Benefit plans adjustment (503,935 ) (261,457 ) Unrealized loss on investments (581 ) (622 ) Unrealized (losses)gains on cash flow hedges (A) (54,593 ) 27,480 $ (372,662 ) $ (77,510 ) (A) The unrealized losses on cash flows at September30, 2007 were $16,391. The income tax provision (benefit)recorded in fiscal years 2009, 2008 and 2007 for the unrealized (loss)gain on investments was $25, $(25) and $(6,524), respectively. The income tax (benefit) provision recorded in fiscal years 2009, 2008 and 2007 for cash flow hedges was $(50,302), $26,889 and $(1,247), respectively. The income tax benefit recorded in fiscal years 2009 and 2008 for defined benefit pension, postretirement plans and postemployment plans was $146,554 and $3,439, respectively. The income tax provision recorded in fiscal year 2007 for the minimum pension liability adjustment was $2,050. Income taxes are generally not provided for translation adjustments. The unrealized (losses)gains on cash flow hedges included in other comprehensive (loss)income for 2009, 2008 and 2007 are net of reclassification adjustments of $65,012, $(6,733), and $(5,099), net of tax, respectively, for realized net hedge gains (losses)recorded to revenues. These amounts had been included in Accumulated other comprehensive (loss)income in prior periods. The tax provision (benefit)associated with these reclassification adjustments in 2009, 2008 and 2007 was $39,846, $(4,127) and $(3,126), respectively.

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Sep. 30, 2009 USD / shares
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 14 Commitments and Contingencies Commitments Rental expense for all operating leases amounted to $66,600 in 2009, $70,300 in 2008, and $68,100 in 2007. Future minimum rental commitments on noncancelable leases are as follows: 2010 - $49,800; 2011 $40,000; 2012 $29,300; 2013 $22,500; 2014 $17,400 and an aggregate of $22,900 thereafter. As of September30, 2009, the Company has certain future purchase commitments aggregating to approximately $456,393, which will be expended over the next several years. Contingencies The Company is named as a defendant in five purported class action suits brought on behalf of direct purchasers of the Companys products, such as distributors, alleging that the Company violated federal antitrust laws, resulting in the charging of higher prices for the Companys products to the plaintiff and other purported class members. The cases filed are as follows: Louisiana Wholesale Drug Company, Inc., et. al. vs. Becton Dickinson and Company (Civil Action No. 05-1602, U.S. District Court, Newark, New Jersey), filed on March25, 2005; SAJ Distributors, Inc. et. al. vs. Becton Dickinson Co. (Case 2:05-CV-04763-JD, U.S. District Court, Eastern District of Pennsylvania), filed on September6, 2005; Dik Drug Company, et. al. vs. Becton, Dickinson and Company (Case No.2:05-CV-04465, U.S. District Court, Newark, New Jersey), filed on September12, 2005; American Sales Company, Inc. et. al. vs. Becton, Dickinson Co. (Case No.2:05-CV-05212-CRM, U.S. District Court, Eastern District of Pennsylvania), filed on October3, 2005; and Park Surgical Co. Inc. et. al. vs. Becton, Dickinson and Company (Case 2:05-CV-05678- CMR, U.S. District Court, Eastern District of Pennsylvania), filed on October26, 2005. These actions have been consolidated under the caption In re Hypodermic Products Antitrust Litigation. The Company is also named as a defendant in four purported class action suits brought on behalf of indirect purchasers of the Companys products, alleging that the Company violated federal and state antitrust laws, resulting in the charging of higher prices for the Companys products to the plaintiff and other purported class members. The cases filed are as follows: Jabos Pharmacy, Inc., et. al. v. Becton Dickinson Company (Case No.2:05-CV-00162, U.S. District Court, Greenville, Tennessee), filed on June7, 2005; Drug Mart Tallman, Inc., et. al. v. Becton Dickinson and Company (Case No.2:06-CV-00174, U.S. District Court, Newark, New Jersey), filed on January17, 2006; Medstar v. Becton Dickinson (Case No.06-CV-03258-JLL (RJH), U.S. District Court, Newark, New Jersey), filed on May18, 2006; and The Hebrew Home for the Aged at Riverdale v. Becton Dickinson and Company (Case No.07-CV-2544, U.S. District Court, Southern District of New York), filed on March28, 2007. A fifth purported class action on behalf of indirect purchasers International Multiple Sclerosis Management Practice v. Becton Dickinson Company (Case No.2:07-cv-10602, U.S. District Court, Newark, New Jersey), filed on April5, 2007 was voluntarily withdrawn by the plaintiff. The plaintiffs in each of the antitrust class action lawsuits seek monetary

Share Based Compensation

Share Based Compensation
	12 Months Ended Sep. 30, 2009 USD / shares
Share-Based Compensation [Abstract]
Share-Based Compensation	Note 15 Share-Based Compensation The Company grants share-based awards under the 2004 Employee and Director Equity-Based Compensation Plan (2004 Plan), which provides long-term incentive compensation to employees and directors consisting of: stock appreciation rights (SARs), stock options, performance-based restricted stock units, time-vested restricted stock units and other stock awards. The amounts and location of compensation cost relating to share-based payments included in consolidated statements of income is as follows: 2009 2008 2007 Cost of products sold $ 16,846 $ 19,338 $ 19,163 Selling and administrative expense 58,920 68,677 76,407 Research and development expense 10,808 12,570 12,136 $ 86,574 $ 100,585 $ 107,706 The associated income tax benefit recognized was $31,307, $36,236 and $37,179, respectively. Share-based compensation attributable to discontinued operations was not material. Stock Appreciation Rights SARs represent the right to receive, upon exercise, shares of common stock having a value equal to the difference between the market price of common stock on the date of exercise and the exercise price on the date of grant. SARs vest over a four-year period and have a ten-year term. The fair value was estimated on the date of grant using a lattice-based binomial option valuation model that uses the following weighted-average assumptions in 2009, 2008 and 2007: risk-free interest rate of 2.73%, 3.83% and 4.56%, respectively; expected volatility of 28%, 27% and 28%, respectively; expected dividend yield of 2.11%, 1.35% and 1.37%, respectively, and expected life of 6.5years for all years. Expected volatility is based upon historical volatility for the Companys common stock and other factors. The expected life of SARs granted is derived from the output of the lattice-based model, using assumed exercise rates based on historical exercise and termination patterns, and represents the period of time that SARs granted are expected to be outstanding. The risk-free interest rate used is based upon the published U.S. Treasury yield curve in effect at the time of grant for instruments with a similar life. The dividend yield is based upon the most recently declared quarterly dividend as of the grant date. The weighted average grant date fair value of SARs granted during 2009, 2008 and 2007 was $16.11 and $24.92 and $22.66, respectively. The total intrinsic value of SARs exercised during 2009, 2008, and 2007 was $406, $2,122, and $321, respectively. The Company issued 3,979 shares during 2009 to satisfy the SARs exercised. The actual tax benefit realized for tax deductions from SAR exercises totaled $154, $808 and $103, respectively. The total fair value of SARs vested during 2009, 2008 and 2007 was $24,888, $16,429 and $9,073, respectively. A summary of SARs outstanding as of September30, 2009, and changes during the year then ended is as follows: Weighted Average Weighted Remaining Ag

Earnings per Share

Earnings per Share
	12 Months Ended Sep. 30, 2009 USD / shares
Earnings Per Share [Abstract]
Earnings per Share	Note 16 Earnings per Share The weighted average common shares used in the computations of basic and diluted earnings per share (shares in thousands) for the years ended September30 were as follows: 2009 2008 2007 Average common shares outstanding 240,479 244,323 244,929 Dilutive share equivalents from share-based plans 6,319 8,358 9,881 Average common and common equivalent shares outstanding assuming dilution 246,798 252,681 254,810

Segment Data

Segment Data
	12 Months Ended Sep. 30, 2009 USD / shares
Segment Data [Abstract]
Segment Data	Note 17 Segment Data The Companys organizational structure is based upon its three principal business segments: BD Medical (Medical), BD Diagnostics (Diagnostics) and BD Biosciences (Biosciences). The principal product lines in the Medical segment include needles, syringes and intravenous catheters for medication delivery; safety-engineered and auto-disable devices; prefilled IV flush syringes; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes; prefillable drug delivery devices provided to pharmaceutical companies and sold to end-users as drug/device combinations; surgical blades/scalpels and regional anesthesia needles and trays; critical care monitoring devices; ophthalmic surgical instruments; and sharps disposal containers. The principal products and services in the Diagnostics segment include integrated systems for specimen collection; an extensive line of safety-engineered specimen blood collection products and systems; plated media; automated blood culturing systems; molecular testing systems for sexually transmitted diseases and healthcare-associated infections; microorganism identification and drug susceptibility systems; liquid-based cytology systems for cervical cancer screening; and rapid diagnostic assays. The principal product lines in the Biosciences segment include fluorescence activated cell sorters and analyzers; cell imaging systems; monoclonal antibodies and kits for performing cell analysis; reagent systems for life sciences research; tools to aid in drug discovery and growth of tissue and cells; cell culture media supplements for biopharmaceutical manufacturing; and diagnostic assays. The Company evaluates performance of its business segments based upon operating income. Segment operating income represents revenues reduced by product costs and operating expenses. The Company hedges against certain forecasted sales of U.S.-produced products sold outside the United States. Gains and losses associated with these foreign currency translation hedges are reported in segment revenues based upon their proportionate share of these international sales of U.S.-produced products. Distribution of products is primarily through independent distribution channels, and directly to end-users by BD and independent sales representatives. No customer accounted for 10% or more of revenues in any of the three years presented. 2009 2008 2007 Revenues (A) Medical $ 3,730,846 $ 3,720,035 $ 3,343,797 Diagnostics 2,226,219 2,159,811 1,905,105 Biosciences 1,203,809 1,195,096 1,033,933 $ 7,160,874 $ 7,074,942 $ 6,282,835 Segment Operating Income Medical $ 1,109,906 $ 1,053,390 $ 953,454 Diagnostics 607,250 525,747 342,778 (B) Biosciences 362,344 333,662 258,806 (B) Total Segment Operating Income 2,079,500 1,912,799 1,555,038 Unallocated Expenses (C) (440,238 )(D) (374,3

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts
	12 Months Ended Sep. 30, 2009 USD / shares
Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation and Qualifying Accounts	ScheduleII. Valuation and Qualifying Accounts for the years ended September30, 2009, 2008 and 2007 (dollars in thousands). Col. A Col. B Col. C Col. D Col. E Additions Balance at Charged to Balance at Beginning Costs and Deductions/ End of Description of Period Expenses Other Period 2009 Against trade receivables: For doubtful accounts $ 26,709 $ 18,321 $ 4,745 (A) $ 40,285 For cash discounts 8,905 48,025 48,706 8,224 Total $ 35,614 $ 66,346 $ 53,451 $ 48,509 2008 Against trade receivables: For doubtful accounts $ 29,238 $ 5,405 $ 7,934 (A) $ 26,709 For cash discounts 10,412 50,055 51,562 8,905 Total $ 39,650 $ 55,460 $ 59,496 $ 35,614 2007 Against trade receivables: For doubtful accounts $ 28,440 $ 2,550 $ 1,752 (A) $ 29,238 For cash discounts 9,816 39,575 38,979 10,412 Total $ 38,256 $ 42,125 $ 40,731 $ 39,650 (A) Accounts written off. All other schedules for which provision is made in the applicable accounting regulations of the Securities Exchange Act of 1934 are not required under the related instructions or are inapplicable, and, therefore, have been omitted.