Stock Analysis on Net
Stock Analysis on Net

Becton, Dickinson & Co. (NYSE:BDX)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 5, 2022.

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Becton, Dickinson & Co., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015
Net income (loss)
Depreciation and amortization
Share-based compensation
Deferred income taxes
Change in operating assets and liabilities
Pension obligation
Excess tax benefits from payments under share-based compensation plans
Gain on sale of Vyaire interest
Gain on sale of business
Product liability-related charge
Lease contract modification-related charge
Other, net
Adjustments to net income (loss) to derive net cash provided by operating activities
Net cash provided by operating activities
Capital expenditures
Acquisitions, net of cash acquired
Proceeds from divestitures, net
Other, net
Net cash (used for) provided by investing activities
Change in credit facility borrowings
Proceeds from long-term debt
Proceeds from debt issued in connection with the spin-off
Payments of debt
Proceeds from issuance of equity securities
Repurchase of common stock
Excess tax benefit from payments under share-based compensation plans
Dividends paid
Other, net
Net cash provided by (used for) financing activities
Effect of exchange rate changes on cash and equivalents and restricted cash
Net increase (decrease) in cash and equivalents and restricted cash

Based on: 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31).

Net income (loss)
The net income exhibits notable volatility across the periods analyzed. Significant positive peaks occurred in March 2021 with 1003 million USD and March 2022 with 677 million USD. There are sporadic periods of losses, particularly in June and December 2016 as well as December 2018. Overall, a tendency toward recovery and growth in net income is discernible after 2019.
Depreciation and amortization
This expense item remains relatively stable throughout the timeframe, fluctuating between approximately 260 and 590 million USD. Increases appear in the period of 2018–2021, with the highest levels reached in 2018 and 2021, which may relate to capital investments or acquisitions during those years.
Share-based compensation
Share-based compensation shows variability but remains mostly within a range of 35 to 90 million USD. There are occasional spikes, such as 141 million USD in December 2017, reflecting possible changes in compensation policies or stock price fluctuations impacting expense recognition.
Deferred income taxes
Deferred income taxes fluctuate considerably, with both positive and negative values, suggesting changes in tax positions and timing differences. Large swings are noted, especially negative spikes in September and December 2016 and September 2021, indicating volatility in deferred tax assets or liabilities.
Change in operating assets and liabilities
This item shows high volatility, with significant swings between positive and negative values. Notable increases are seen in September 2016, March 2018, and December 2020, which reflect changes in working capital components that impact cash flow.
Pension obligation
The pension obligation line item demonstrates some variability with occasional negative and positive values. A notable negative value occurs in June 2018, and a positive recovery is visible afterward, indicating fluctuations in pension funding or actuarial adjustments.
Gains on sale of assets
Several significant one-time gains appeared, including a -308 million USD loss related to Vyaire interest in June 2018 and a -335 million USD loss on sale of business in September 2018. These transactions affect income and cash flows in discrete periods.
Product liability and lease contract charges
Material charges due to product liability and lease contract modifications emerged especially in 2019 and 2021, with amounts up to 741 million USD (lease-related) and several hundreds of millions from product liability, which indicate contingencies impacting profitability and cash flow.
Net cash provided by operating activities
Operating cash flow fluctuates but generally trends upward, peaking strongly in the years following 2017 and reaching above 1.3 billion USD in some quarters (e.g., September 2019 and December 2020), demonstrating improving cash generation despite income volatility.
Capital expenditures
Capital expenditures vary quarter to quarter but generally lie between 100 and 465 million USD, with an upward trend in certain later periods, reflecting sustained investment in property, plant, and equipment or other fixed assets.
Acquisitions and divestitures
Net acquisitions and divestitures are significant, with a large acquisition in December 2017 (-15,013 million USD) impacting investing cash flows massively. Divestiture proceeds occur sporadically but can be substantial, notably in early 2018. These activities suggest strategic portfolio restructuring.
Net cash from investing activities
The net cash impact of investing activities is predominantly negative, with a sharp outflow in December 2017 due to acquisitions. Other periods show smaller, but still negative, cash outflows, consistent with steady capital spending and acquisition strategies.
Financing activities
Financing cash flows are highly variable due to debt issuance, repayments, equity issuance, and stock repurchases. Noteworthy is the spike in June 2017 (+13,294 million USD), driven by financing inflows. Repurchases and dividends are consistent, with dividends steadily increasing slightly over time.
Effect of exchange rate changes
Currency effects on cash are relatively minor but display consistent small positive and negative fluctuations, contributing marginally to changes in cash balances.
Net change in cash and equivalents
Net cash changes show volatility with large inflows notably in June 2017 and March 2020, and large outflows in December 2017 due to investing activity. The latter periods exhibit improved cash generation with occasional fluctuations reflecting operational and financing activities.