Summary
Becton Dickinson & Co. (BDX) filed an 8-K/A amendment on February 7, 2011, primarily to furnish an exhibit related to its financial results. The key takeaway for investors is the inclusion of "Exhibit 99.2 Reconciliation of non-GAAP financial measures," which provides a bridge between the company's reported GAAP (Generally Accepted Accounting Principles) figures and its non-GAAP performance metrics. This exhibit is crucial for understanding how BDX is presenting its financial performance and the adjustments made to arrive at its non-GAAP figures, which are often highlighted in earnings calls and press releases.
Key Highlights
- 1Filing is an amendment (8-K/A) to a previous report.
- 2The amendment's primary purpose is to furnish Exhibit 99.2.
- 3Exhibit 99.2 is a reconciliation of non-GAAP financial measures.
- 4This exhibit provides clarity on how BDX adjusts its financial results for reporting purposes beyond standard GAAP.
- 5Investors should review Exhibit 99.2 to understand the basis of BDX's non-GAAP financial performance claims.
- 6The filing date was February 7, 2011, with an event date of February 6, 2011.
Frequently Asked Questions
An 8-K/A filing indicates that Becton Dickinson & Co. is amending or supplementing a previously filed 8-K report. In this case, the amendment is specifically to add or clarify information, namely the furnishing of an exhibit.
Exhibit 99.2 is important because it details the reconciliation between BDX's reported GAAP financial results and its non-GAAP financial measures. Non-GAAP measures can exclude certain items like acquisition-related costs, restructuring charges, or other expenses that management deems not indicative of ongoing operational performance. Understanding these adjustments helps investors interpret the company's performance metrics more accurately and compare them to peers.
The reconciliation typically shows the company's reported GAAP net income or earnings per share and then lists the adjustments made to arrive at the non-GAAP figures. This could include adding back expenses that were recognized under GAAP but are considered "one-time" or unusual by management, or excluding certain gains or losses.