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

The main purpose of this 8-K filing is to announce Becton, Dickinson and Company's (BD) financial results for its third fiscal quarter ending June 30, 2015, and to provide context for these results, particularly in light of the recent acquisition of CareFusion Corporation.

Why is BD presenting non-GAAP financial measures?

BD is presenting non-GAAP measures to offer investors a better understanding of the company's underlying operational performance. These measures exclude certain items like acquisition-related costs, integration expenses, amortization, and foreign currency fluctuations, which management believes are not indicative of ordinary operations or can distort period-to-period comparability.

How does the CareFusion acquisition affect the reported financial results?

The CareFusion acquisition, completed in March 2015, impacts the reported results through various costs associated with the transaction and integration. Additionally, a write-down of deferred revenue related to the acquisition lowered reported revenues. The non-GAAP measures presented in this filing adjust for these effects to provide a clearer view of the combined company's ongoing performance.

Should investors rely solely on the non-GAAP figures?

No, investors should not rely solely on the non-GAAP figures. The filing explicitly states that non-GAAP results should be considered supplemental and are not a substitute for GAAP results. Management uses both GAAP and non-GAAP measures in conjunction to address potential limitations and gain a comprehensive understanding of the company's financial health and performance.

BDX 8-K: Earnings & Results

Summary

Becton, Dickinson and Company (BD) filed an 8-K on August 6, 2015, to announce its third fiscal quarter financial results ending June 30, 2015. The filing primarily details non-GAAP financial measures used by management to provide a clearer view of the company's operational performance, particularly in light of the recent acquisition of CareFusion Corporation in March 2015. Investors are encouraged to review these non-GAAP figures alongside GAAP results for a comprehensive understanding of BD's underlying business performance, revenue growth, and earnings per share. The company is providing adjusted revenue and earnings per share (EPS) figures to help investors better understand the impact of the CareFusion acquisition and currency fluctuations. These adjustments exclude items such as transaction costs, integration expenses, and foreign currency translation effects, which management believes do not reflect ordinary operations. The filing also provides updated fiscal year 2015 guidance based on these adjusted metrics, offering a forward-looking perspective on the combined entity's performance.

Key Highlights

1BD reported financial results for its third fiscal quarter ending June 30, 2015.
2The company is utilizing non-GAAP financial measures to present a more insightful view of its performance, particularly post-CareFusion acquisition.
3Adjusted revenue figures are provided to account for the CareFusion acquisition's deferred revenue impact and to exclude foreign currency translation effects.
4Adjusted Earnings Per Share (EPS) excludes acquisition-related costs (financing, transaction, integration, restructuring), amortization of intangibles, litigation charges, and the dilutive impact of shares issued for the acquisition.
5Comparisons are made on a 'comparable' basis, assuming the CareFusion acquisition occurred at the start of fiscal year 2015, to annualize performance.
6Foreign currency translation effects are excluded from revenue growth and EPS calculations to better reflect underlying operational performance.
7The filing includes updated fiscal year 2015 guidance based on these adjusted, non-GAAP measures.

BECTON DICKINSON & CO 8-K Report, Financial Results (Aug 6, 2015)

Summary

Key Highlights

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