$BDX
BECTON DICKINSON & CO

2015 Q1 Form 10-Q Financial Statement

#000119312515178817 Filed on May 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $2.051B $2.072B
YoY Change -1.01% 3.6%
Cost Of Revenue $1.005B $1.019B
YoY Change -1.37% 3.77%
Gross Profit $1.046B $1.053B
YoY Change -0.66% 3.44%
Gross Profit Margin 51.0% 50.82%
Selling, General & Admin $511.0M $525.0M
YoY Change -2.67% 1.94%
% of Gross Profit 48.85% 49.86%
Research & Development $129.0M $147.0M
YoY Change -12.24% 20.49%
% of Gross Profit 12.33% 13.96%
Depreciation & Amortization $138.0M $130.0M
YoY Change 6.15% -4.9%
% of Gross Profit 13.19% 12.35%
Operating Expenses $640.0M $672.0M
YoY Change -4.76% 5.49%
Operating Profit $293.0M $381.0M
YoY Change -23.1% 0.0%
Interest Expense $91.00M $33.00M
YoY Change 175.76% -5.71%
% of Operating Profit 31.06% 8.66%
Other Income/Expense, Net $15.00M $5.000M
YoY Change 200.0% 150.0%
Pretax Income $225.0M $363.0M
YoY Change -38.02% 0.83%
Income Tax $9.000M $76.00M
% Of Pretax Income 4.0% 20.94%
Net Earnings $216.0M $287.0M
YoY Change -24.74% 3.99%
Net Earnings / Revenue 10.53% 13.85%
Basic Earnings Per Share $1.10 $1.48
Diluted Earnings Per Share $1.08 $1.45
COMMON SHARES
Basic Shares Outstanding 196.1M shares 193.6M shares
Diluted Shares Outstanding 199.9M shares 197.5M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.952B $2.626B
YoY Change -25.67% 8.47%
Cash & Equivalents $1.912B $1.731B
Short-Term Investments $40.00M $895.0M
Other Short-Term Assets $1.016B $678.0M
YoY Change 49.85% 45.04%
Inventory $2.278B $1.512B
Prepaid Expenses
Receivables $1.572B $1.130B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.996B $5.946B
YoY Change 17.66% 8.11%
LONG-TERM ASSETS
Property, Plant & Equipment $3.992B $3.512B
YoY Change 13.67% 5.94%
Goodwill $7.663B $1.124B
YoY Change 581.76% 2.21%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $696.0M $483.0M
YoY Change 44.1% -1.96%
Total Long-Term Assets $21.30B $6.304B
YoY Change 237.83% 2.84%
TOTAL ASSETS
Total Short-Term Assets $6.996B $5.946B
Total Long-Term Assets $21.30B $6.304B
Total Assets $28.29B $12.25B
YoY Change 130.96% 5.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.707B $1.809B
YoY Change 49.64% 24.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.710B $202.0M
YoY Change 746.53% -50.37%
Total Short-Term Liabilities $4.497B $2.016B
YoY Change 123.07% 7.35%
LONG-TERM LIABILITIES
Long-Term Debt $12.13B $3.764B
YoY Change 222.21% 0.05%
Other Long-Term Liabilities $3.513B $427.0M
YoY Change 722.72% 48.48%
Total Long-Term Liabilities $15.64B $427.0M
YoY Change 3563.0% 48.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.497B $2.016B
Total Long-Term Liabilities $15.64B $427.0M
Total Liabilities $20.14B $2.443B
YoY Change 724.31% 12.81%
SHAREHOLDERS EQUITY
Retained Earnings $12.32B $11.69B
YoY Change 5.43% 4.9%
Common Stock $4.721B $2.480B
YoY Change 90.36% 5.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.281B $8.416B
YoY Change -1.6% 3.71%
Treasury Stock Shares
Shareholders Equity $7.159B $5.315B
YoY Change
Total Liabilities & Shareholders Equity $28.29B $12.25B
YoY Change 130.96% 5.33%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $216.0M $287.0M
YoY Change -24.74% 3.99%
Depreciation, Depletion And Amortization $138.0M $130.0M
YoY Change 6.15% -4.9%
Cash From Operating Activities $228.0M $413.0M
YoY Change -44.79% 97.23%
INVESTING ACTIVITIES
Capital Expenditures -$155.0M -$127.0M
YoY Change 22.05% -5.65%
Acquisitions
YoY Change
Other Investing Activities -$8.042B -$104.0M
YoY Change 7632.69% -165.74%
Cash From Investing Activities -$8.197B -$231.0M
YoY Change 3448.48% -1074.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.359B -124.0M
YoY Change -1195.97% 2.23%
NET CHANGE
Cash From Operating Activities 228.0M 413.0M
Cash From Investing Activities -8.197B -231.0M
Cash From Financing Activities 1.359B -124.0M
Net Change In Cash -6.610B 58.00M
YoY Change -11496.55% -48.12%
FREE CASH FLOW
Cash From Operating Activities $228.0M $413.0M
Capital Expenditures -$155.0M -$127.0M
Free Cash Flow $383.0M $540.0M
YoY Change -29.07% 56.98%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The methodology for determining the allowance for credit losses for these financing receivables is based on the collective population and is not stratified by class or portfolio segment. Allowances for credit losses on the entire portfolio are recorded based on historical experience loss rates and the potential impact of anticipated changes in business practices, market dynamics, and economic conditions. Allowances for individual balances are recorded based on the evaluation of customers&#x2019; specific circumstances. No interest is accrued on past due financing receivables, which are generally considered past due 30 days after the billing date. Amounts are written off against the allowance for credit losses when determined to be uncollectible.</p> </div>
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