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Shareholders' Equity
3 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity
Changes in certain components of shareholders' equity for the first quarters of fiscal years 2022 and 2021 were as follows:
 Common
Stock  Issued
at Par Value
Capital in
Excess of
Par Value
Retained
Earnings
Deferred
Compensation
Treasury Stock
(Millions of dollars)Shares (in
thousands)
Amount
Balance at September 30, 2021$365 $19,272 $13,826 $23 (80,164)$(7,723)
Net income— — 677 — — — 
Common dividends ($0.87 per share)
— — (248)— — — 
Preferred dividends— — (23)— — — 
Common stock issued for share-based compensation and other plans, net— (71)— — 762 19 
Share-based compensation— 83 — — — — 
Common stock held in trusts, net (a)— — — — (5)— 
Repurchase of common stock (b)— 150 — — (462)(150)
Balance at December 31, 2021$365 $19,435 $14,233 $24 (79,869)$(7,855)
 Common
Stock  Issued
at Par Value
Capital in
Excess of
Par Value
Retained
Earnings
Deferred
Compensation
Treasury Stock
(Millions of dollars)Shares (in
thousands)
Amount
Balance at September 30, 2020$365 $19,270 $12,791 $23 (74,623)$(6,138)
Net income— — 1,003 — — — 
Common dividends ($0.83 per share)
— — (242)— — — 
Preferred dividends— — (23)— — — 
Common stock issued for share-based compensation and other plans, net— (53)— — 549 
Share-based compensation— 83 — — — — 
Common stock held in trusts, net (a)— — — — (7)— 
Effect of change in accounting principles— — (9)— — — 
Balance at December 31, 2020$365 $19,301 $13,522 $23 (74,080)$(6,136)
(a)Common stock held in trusts represents rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan.
(b)Represents shares received upon final settlement of an accelerated share repurchase agreement, and the related forward sale contract, entered into during the fourth quarter of fiscal year 2021. The share repurchases were made pursuant to the repurchase program authorized by the Board of Directors on September 24, 2013 for 10 million shares, for which there is no expiration date. In November 2021, the Board of Directors authorized the Company to repurchase up to an additional 10 million shares of BD common stock, for which there is also no expiration date.
The components and changes of Accumulated other comprehensive income (loss) for the first quarters of fiscal years 2022 and 2021 were as follows:
(Millions of dollars)TotalForeign Currency
Translation
Benefit Plans
Cash Flow Hedges
Balance at September 30, 2021$(2,088)$(1,292)$(784)$(10)
Other comprehensive income (loss) before reclassifications, net of taxes34 41 — (7)
Amounts reclassified into income, net of taxes11 — 11 — 
Balance at December 31, 2021$(2,043)$(1,251)$(774)$(17)
(Millions of dollars)TotalForeign Currency
Translation
Benefit Plans
Cash Flow Hedges
Balance at September 30, 2020$(2,548)$(1,416)$(1,040)$(91)
Other comprehensive income before reclassifications, net of taxes115 64 24 27 
Amounts reclassified into income, net of taxes19 — 18 
Balance at December 31, 2020$(2,414)$(1,352)$(998)$(62)
The amounts of foreign currency translation recognized in other comprehensive income during the three months ended December 31, 2021 and 2020 included net gains (losses) relating to net investment hedges. Other comprehensive income relating to benefit plans during the three months ended December 31, 2020 represented a net gain recognized as a result of the Company’s remeasurement, as of October 31, 2020, of the legacy Bard U.S. defined pension benefit plan upon its merger with the BD defined benefit cash balance pension plan in the first quarter of fiscal year 2021. Additional disclosures regarding amounts the Company recognized in other comprehensive income relating to cash flow hedges during the three months ended December 31, 2021 and 2020 are provided in Note 10.
The tax impacts for amounts recognized in other comprehensive income (loss) before reclassifications and for reclassifications out of Accumulated other comprehensive income (loss) relating to benefit plans and cash flow hedges during the three months ended December 31, 2021 and 2020 were immaterial to the Company's consolidated financial results.