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

The primary purpose of this 8-K filing is to announce and provide details regarding Becton, Dickinson and Company's (BDX) financial results for its second fiscal quarter ended March 31, 2014, as reported in a press release.

Why does BDX use non-GAAP financial measures in its reporting?

BDX uses non-GAAP financial measures, such as revenue growth and EPS adjusted for foreign currency translation and specific 'Second Quarter Items,' to provide investors with a clearer understanding of the company's underlying operational performance and to facilitate comparisons with prior periods and its competitors.

What are some examples of the 'Second Quarter Items' excluded from EPS calculations?

The 'Second Quarter Items' excluded from EPS calculations include charges relating to asset write-offs in the BD Biosciences segment, termination costs from a distributor agreement in the Diagnostic segment, and a gain from the sale of an equity investment.

Should investors rely solely on the non-GAAP financial measures provided by BDX?

No, investors should consider the non-GAAP results as supplemental information and not in isolation. They should be reviewed alongside the GAAP results, as the excluded items may have a material impact on net income, earnings per share, or cash flows calculated under GAAP. BDX itself states that management typically uses non-GAAP results in conjunction with GAAP results.

BDX 8-K: Earnings & Results

Summary

Becton, Dickinson and Company (BDX) filed an 8-K on May 1, 2014, to report its financial results for the second fiscal quarter ending March 31, 2014. The filing highlights the company's use of non-GAAP financial measures to provide a clearer view of its operational performance, excluding factors like foreign currency fluctuations and certain "Second Quarter Items." These adjustments are made to facilitate comparisons with prior periods and to offer investors a better understanding of the underlying business trends. Investors should note that while BD provides these non-GAAP figures to supplement GAAP results, they are not a substitute for GAAP-compliant reporting. The company emphasizes that these adjusted measures are used internally for performance evaluation and budget planning, aiming to present a more consistent view of operational results by removing one-time or non-operational impacts. The press release, furnished as Exhibit 99.1, contains the detailed financial data and explanations of these non-GAAP metrics.

Key Highlights

1BDX announced its second fiscal quarter 2014 financial results via an 8-K filing on May 1, 2014.
2The company utilizes non-GAAP financial measures to present revenue growth and Earnings Per Share (EPS) "excluding the effect of foreign currency translation" to better reflect underlying operating performance.
3Specific "Second Quarter Items" were excluded from EPS calculations, including asset write-offs, termination costs, and a gain from an equity investment sale.
4Adjustments were also made to EPS for the impact of the U.S. medical device excise tax for comparability.
5BDX also detailed its rationale for excluding certain charges from fiscal year 2013 EPS to aid in understanding their 2014 EPS guidance.
6The company believes these non-GAAP measures facilitate comparisons to prior periods and peer companies.
7The detailed financial results and explanations of non-GAAP measures are provided in the furnished press release (Exhibit 99.1).

BECTON DICKINSON & CO 8-K Report, Financial Results (May 1, 2014)

Summary

Key Highlights

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