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SEC Filings / Section 16 Reports

DEF 14A
BECTON DICKINSON & CO filed this Form DEF 14A on 12/03/2018
Entire Document
 

Adjusted Performance Used Under the PIP
2018 Adjusted Revenues
(in millions)

Reported revenues
 $15,983 
Adjustment for favorable impact of acquisitions
(14) 
Adjustment for unbudgeted unfavorable foreign currency translation
68 
Adjusted currency-neutral revenues
 $16,037 

2018 Adjusted EPS
Adjusted diluted earnings per share (see previous reconciliation)
$11.01
Adjustment for unbudgeted favorable tax rate
(0.05)
Adjustment for unbudgeted unfavorable foreign currency translation
0.06
Adjusted currency-neutral EPS)
$11.02

2017 Free Cash Flow as a Percentage of Sales
(in millions)

Reported net cash provided by operating activities
$2,865 

Capital expenditures
(895)

Free cash flow (reported)
$
1,970

Restructuring costs (pre-tax)
 218

Integration costs charges (pre-tax)
344

Transaction costs (pre-tax)
56

Financing costs (pre-tax)
 49 

Hurricane recovery costs
17

Income tax benefit of adjustments
(184) 

Bard transaction-related costs (1)
276

Adjustment for unbudgeted favorable foreign currency translation
(32
)
Additional cash flow adjustments(2)
(153)

Adjusted free cash flow
$2,561 

_________________

(1)    Includes litigation payments, benefit contributions and payments made to members of Bard board of directors

(2)    Includes capital expenditure underspend compared to budget and working capital timing.
 
Free cash flow as a % of sales (reported) ($1,938/$15,983)
12% 
Adjusted currency-neutral free cash flow as a % of sales ($2,561/$16,037)
  16% 
 





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