What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to report Becton Dickinson & Co's (BDX) financial results for its first fiscal quarter ended December 31, 2013, and to furnish the accompanying press release as an exhibit.

What are 'non-GAAP measures' and why is BDX using them?

Non-GAAP measures are financial metrics that are not calculated in accordance with Generally Accepted Accounting Principles (GAAP). BDX is using them to provide investors with additional insight into the company's underlying operational performance by excluding items like foreign currency translation effects and the impact of the U.S. medical device excise tax, which they believe can obscure period-over-period comparisons.

Are the non-GAAP measures presented in this filing a substitute for GAAP results?

No, BDX explicitly states that non-GAAP results should not be considered in isolation or as a substitute for GAAP results. They are provided on a supplemental basis, and investors are advised to consider them in conjunction with GAAP results to address potential limitations and gain a full understanding of the company's financial performance.

What specific items are excluded in BDX's non-GAAP EPS calculations for FY2014 guidance?

For its FY2014 EPS guidance, BDX is excluding the anticipated impact of foreign currency translation and the one quarter of incremental impact from the medical device excise tax compared to FY2013. This is done to provide a clearer view of the anticipated underlying performance.

BDX 8-K: Earnings & Results

Summary

Becton Dickinson & Co (BDX) filed an 8-K on February 4, 2014, to report its financial results for the first fiscal quarter ending December 31, 2013. The filing's primary purpose was to furnish a press release detailing these results, which included a discussion of both GAAP and non-GAAP financial measures. Investors should note that BDX is providing certain financial metrics that adjust for foreign currency translation effects and the impact of the U.S. medical device excise tax. These non-GAAP measures are presented to offer a clearer view of underlying operational performance and facilitate comparisons with prior periods. The company also provided its earnings per share (EPS) guidance for fiscal year 2014, which is also adjusted for anticipated foreign currency translation and the incremental impact of the medical device excise tax. BDX emphasizes that while these non-GAAP measures are used internally for performance evaluation and budget planning, they should be considered supplemental to, and not a substitute for, GAAP results. Investors are advised to review both GAAP and non-GAAP figures to gain a comprehensive understanding of the company's financial health and performance trends.

Key Highlights

1BDX announced financial results for its first fiscal quarter ending December 31, 2013, via an 8-K filing.
2The company is providing both GAAP and non-GAAP financial measures to investors.
3Non-GAAP measures include adjustments for foreign currency translation effects on revenue and EPS.
4The medical device excise tax, effective January 2013, is also a key adjustment in non-GAAP EPS calculations.
5BDX is offering EPS guidance for fiscal year 2014, adjusted for foreign currency and the incremental excise tax impact.
6Management uses non-GAAP measures to assess operational performance and for budget planning.
7The filing includes a press release (Exhibit 99.1) containing the detailed financial results and explanations of non-GAAP measures.

BECTON DICKINSON & CO 8-K Report, Financial Results (Feb 4, 2014)

Summary

Key Highlights

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