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Debt (Tables)

12 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Summary of Short-Term Debt

The carrying value of Current debt obligations, net of unamortized debt issuance costs, at September 30 consisted of:

(Millions of dollars)									2024						2023
Commercial paper borrowings									$	400					$	—
Current portion of long-term debt
3.875% Notes due May 15, 2024			(a)						—						144
3.363% Notes due June 6, 2024			(a)						—						997
3.734% Notes due December 15, 2024									875						—
3.020% Notes due May 24, 2025									335						—
0.034% Notes due August 13, 2025									559						—
Other									1						—
Total current debt obligations									$	2,170					$	1,141

(a)All of the aggregate principal amount outstanding was retired upon maturity during 2024, as further discussed below.

Summary of Long-Term Debt

The carrying value of Long-Term Debt, net of unamortized debt issuance costs, at September 30 consisted of:

(Millions of dollars)									2024						2023
3.734% Notes due December 15, 2024									$	—					$	874
3.020% Notes due May 24, 2025									—						306
0.034% Notes due August 13, 2025									—						528
1.208% Notes due June 4, 2026									671						634
6.700% Notes due December 1, 2026									158						161
1.900% Notes due December 15, 2026									559						528
3.700% Notes due June 6, 2027									1,721						1,719
7.000% Debentures due August 1, 2027									118						119
4.693% Notes due February 13, 2028									797						796
6.700% Debentures due August 1, 2028									115						115
0.334% Notes due August 13, 2028									1,004						949
4.874% Notes due February 8, 2029			(a)						622						—
5.081% Notes due June 7, 2029			(a)						596						—
3.553% Notes due September 13, 2029									891						842
2.823% Notes due May 20, 2030									746						745
3.519% Notes due February 8, 2031			(a)						835						—
1.957% Notes due February 11, 2031									994						993
3.828% Notes due June 7, 2032			(a)						1,113						—
4.298% Notes due August 22, 2032									496						496
5.110% Notes due February 8, 2034			(a)						545						—
1.213% Notes due February 12, 2036									668						631
4.029% Notes due June 7, 2036			(a)						889						—
6.000% Notes due May 15, 2039									121						121
5.000% Notes due November 12, 2040									90						90
1.336% Notes due August 13, 2041									999						945
4.875% Notes due May 15, 2044									244						245
4.685% Notes due December 15, 2044									934						899
4.669% Notes due June 6, 2047									1,460						1,445
3.794% Notes due May 20, 2050									554						554
Other long-term debt									1						2
Total Long-Term Debt									$	17,940					$	14,738

(a)Represents notes issued during 2024, as further discussed below.

Schedule of Debt Issuances

The Company issued the following U.S. dollar-denominated debt during fiscal years 2024 and 2023:

Interest rate and maturity

Period issued

Amount issued (Millions of dollars)

Use of proceeds

5.081% Notes due June 7, 2029

Third quarter 2024

$

600

Funding of the cash consideration and related fees and expenses for the Advanced Patient Monitoring acquisition and for general corporate purposes

4.874% Notes due February 8, 2029

Second quarter 2024

$

625

Retirement of 3.363% notes due June 6, 2024 and retirement, upon maturity, of 3.734% notes due December 15, 2024

5.110% Notes due February 8, 2034

Second quarter 2024

$

550

Retirement of 3.363% notes due June 6, 2024 and retirement, upon maturity, of 3.734% notes due December 15, 2024

4.693% notes due February 13, 2028

Second quarter 2023

$

800

Retirement of 1.401% notes due May 24, 2023 and 0.000% notes due August 13, 2023

The Company issued the following Euro-denominated debt during fiscal year 2024:

Interest rate and maturity						Period issued						Amount issued (Millions of Euros)						Amount issued (millions of dollars)						Use of proceeds
3.828% Notes due June 7, 2032						Third quarter 2024						€	1,000					$	1,087					Funding of the cash consideration and related fees and expenses for the Advanced Patient Monitoring acquisition and for general corporate purposes
3.519% Notes due February 8, 2031						Second quarter 2024						€	750					$	806					Retirement of 3.875% notes due May 15, 2024 and 3.363% notes due June 6, 2024

The notes issued by Becton Finance included the following:

Interest rate and maturity						Period issued						Amount issued (Millions of Euros)						Amount issued (Millions of dollars)						Use of proceeds
4.029% Notes due June 7, 2036						Third quarter 2024						€	800					$	869					Funding of the cash consideration and related fees and expenses for the Advanced Patient Monitoring acquisition and for general corporate purposes
3.553% notes due September 13, 2029						Second quarter 2023						€	800					$	868					Retirement of 0.632% notes due June 4, 2023

Schedule of Extinguishment of Debt

The Company’s retirements of debt upon maturity in fiscal years 2024 and 2023 included the following:

Principal, interest rate and maturity

Period of retirement

$998 million of 3.363% notes due June 6, 2024

Third quarter 2024

$144 million of 3.875% notes due May 15, 2024

Third quarter 2024

400 million Euros ($439 million) of 0.000% notes due August 13, 2023

Fourth quarter 2023

800 million Euros ($857 million) of 0.632% notes due June 4, 2023

Third quarter 2023

300 million Euros ($325 million) of 1.401% notes due May 24, 2023

Third quarter 2023

500 million Euros ($528 million) of 1.000% notes due December 15, 2022

First quarter 2023

Summary of Interest Costs and Payments

A summary of interest costs and payments for the years ended September 30 is as follows:

(Millions of dollars)			2024						2023						2022
Charged to operations			$	528					$	452					$	398
Capitalized			57						51						46
Total interest costs			$	584					$	503					$	444
Interest paid, net of amounts capitalized			$	473					$	452					$	390

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