XML 25 R11.htm IDEA: XBRL DOCUMENT v3.25.3
Shareholders' Equity
12 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
Changes in certain components of shareholders’ equity 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, 2022
$365 $19,553 $15,157 $23 (81,283)$(8,330)
Net income— — 1,484 — — — 
Cash dividends:
Common ($3.64 per share)
— — (1,046)— — — 
Preferred— — (60)— — — 
Issuance of shares for preferred shares converted to common shares (a)(4)— — — — 
Issuance of shares under employee and other plans, net— (88)— 1,056 24 
Share-based compensation— 259 — — — — 
Common stock held in trusts, net (b)— — — — 24 — 
Balance at September 30, 2023
$371 $19,720 $15,535 $24 (80,203)$(8,305)
Net income— — 1,705 — — — 
Cash dividends:
Common ($3.80 per share)
— — (1,100)— — — 
Issuance of shares under employee and other plans, net— (73)— 801 
Share-based compensation— 247 — — — — 
Common stock held in trusts, net (b)— — — — 27 — 
Repurchase of common stock (c)— — — — (2,118)(503)
Balance at September 30, 2024
$371 $19,893 $16,139 $25 (81,493)$(8,807)
Net income— — 1,678 — — — 
Cash dividends:
Common ($4.16 per share)
— — (1,196)— — — 
Issuance of shares under employee and other plans, net— (76)— — 820 
Share-based compensation— 258 — — — — 
Common stock held in trusts, net (b)— — — — 14 — 
Repurchase of common stock (c)— — — — (4,533)(1,006)
Balance at September 30, 2025
$371 $20,075 $16,622 $25 (85,192)$(9,808)
(a)Represents the conversion, in accordance with their terms, of 1.500 million mandatory convertible preferred shares that were issued in May 2020 into 5.955 million shares of BD common stock on the mandatory conversion date of June 1, 2023.
(b)Consists of the Company’s shares held in rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and directors’ deferral plan.
(c)Includes excise tax on share repurchases.
Share Repurchases
In fiscal year 2025, the Company executed and settled an accelerated share repurchase (“ASR”) agreement for the repurchase of 3.256 million shares of its common stock for total consideration of $750 million. The Company also repurchased 1.278 million shares of its common stock through open market repurchases, for total consideration of $250 million. These share repurchase transactions were recorded as increases to Treasury stock.
In fiscal year 2024, the Company executed and settled ASR agreements for the repurchase of 2.118 million shares of its common stock for total consideration of $500 million which was recorded as an increase to Treasury stock.
In November 2025, the Company repurchased $250 million of its common stock through open market repurchases, which will be recorded as an increase to Treasury stock in the first quarter of fiscal year 2026.
The share repurchases discussed above were made pursuant to the repurchase program authorized by the Board of Directors on November 3, 2021 for 10 million shares of BD common stock. On January 28, 2025, the Board of Directors authorized BD to repurchase up to an additional 10 million shares of BD common stock. There is no expiration date for either program, and as of September 30, 2025, approximately 12 million shares remained unused under these programs.
The components and changes of Accumulated other comprehensive income (loss) were as follows:
(Millions of dollars)TotalForeign
Currency
Translation (a)
Benefit PlansCash Flow
Hedges
(b)
Available-for-Sale Debt Securities
Balance at September 30, 2022
$(1,488)$(987)$(574)$75 $— 
Other comprehensive (loss) income before reclassifications, net of taxes(106)(91)(37)21 — 
Amounts reclassified into income, net of
taxes
46 — 41 — 
Balance at September 30, 2023
$(1,548)$(1,078)$(571)$103 $— 
Other comprehensive loss before reclassifications, net of taxes(227)(166)(32)(28)(1)
Amounts reclassified into income, net of
taxes
42 — 46 (4)— 
Balance at September 30, 2024
$(1,732)$(1,244)$(557)$70 $(1)
Other comprehensive (loss) income before reclassifications, net of taxes(198)(109)(111)21 
Amounts reclassified into income, net of
taxes
35 — 32 — 
Balance at September 30, 2025
$(1,895)$(1,353)$(636)$94 $— 
(a)    Includes net losses relating to net investment hedges and amounts relating to intercompany balances of a long-term investment nature.
(b)    The amount during the year ended September 30, 2025 is primarily related to foreign exchange contracts. The amount during the year ended September 30, 2024 is primarily related to foreign exchange contracts as well as forward starting interest rate swaps, which were terminated during fiscal year 2024. The amount during the year ended September 30, 2023 is primarily related to forward starting interest rate swaps. Additional disclosures regarding the Company's derivatives are provided in Note 14.
The tax impacts for benefit plans and cash flow hedges recognized in other comprehensive income before reclassifications in 2025, 2024 and 2023 were immaterial to the Company's consolidated financial results. The
tax impacts for reclassifications out of Accumulated other comprehensive income (loss) relating to benefit plans and cash flow hedges in 2025, 2024 and 2023 were also immaterial to the Company’s consolidated financial results.