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

The main purpose of this 8-K filing is to report Becton, Dickinson and Company's financial results for its second fiscal quarter ended March 31, 2015, by furnishing a press release that contains these results and related financial information.

Why does BDX use non-GAAP financial measures?

BDX uses non-GAAP financial measures to provide investors with additional insight into its underlying operational performance. These measures exclude items like foreign currency translation effects, acquisition-related costs (e.g., for CareFusion), and other non-operational expenses. Management believes these adjustments help in better understanding the company's performance trends and facilitating comparisons with prior periods and competitors.

What are some of the key items excluded from BD's non-GAAP earnings per share (EPS)?

Key items excluded from BD's non-GAAP EPS include financing, transaction, integration, and restructuring costs related to the CareFusion acquisition, amortization of acquisition-related intangible assets, and the dilutive impact of shares issued for the acquisition. For the first six months of fiscal year 2015, a charge for plaintiff attorney fees related to litigation was also excluded.

How should investors interpret these non-GAAP results?

Investors should interpret these non-GAAP results as supplemental information that provides a different perspective on BD's financial performance, particularly by removing the effects of items that management considers outside of ordinary operations or that impact period-to-period comparability. However, these non-GAAP measures should not be used in isolation and are not a substitute for GAAP results. Investors should consider both GAAP and non-GAAP figures, as well as the limitations of non-GAAP measures, when evaluating the company's financial health.

BDX 8-K: Earnings & Results

Summary

Becton, Dickinson and Company (BD) filed an 8-K on May 7, 2015, to report its financial results for the second fiscal quarter ended March 31, 2015. The filing primarily serves to furnish a press release detailing these results and the company's financial outlook. A key focus of the report is the company's use and explanation of non-GAAP financial measures, which exclude the impact of foreign currency translation, acquisition-related costs (specifically for the acquisition of CareFusion Corporation), and other one-time or non-operational items. BD is providing these adjusted figures to offer investors a clearer understanding of its underlying operational performance and to facilitate comparisons with prior periods and peer companies. The company emphasizes that these non-GAAP measures, while considered useful by management for performance evaluation and planning, should be viewed in conjunction with, and not as a substitute for, GAAP-based financial results. Investors are cautioned that these measures may differ from those reported by other companies and that excluded items can materially impact GAAP net income and earnings per share.

Key Highlights

1BD announced its financial results for the second fiscal quarter ended March 31, 2015.
2The company is furnishing a press release (Exhibit 99.1) containing these results.
3BD utilizes and explains non-GAAP financial measures in its reporting.
4Key non-GAAP adjustments include the exclusion of foreign currency translation effects.
5Significant non-GAAP adjustments relate to costs and impacts associated with the acquisition of CareFusion Corporation.
6Other non-GAAP adjustments address items not considered part of ordinary operations, such as transaction costs, integration expenses, and litigation-related charges.
7BD's management uses these non-GAAP measures for performance evaluation, budget planning, and comparison with peers.

BECTON DICKINSON & CO 8-K Report, Financial Results (May 7, 2015)

Summary

Key Highlights

Frequently Asked Questions