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Shareholders' Equity
9 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity
Changes in certain components of shareholders' equity for the first three quarters of fiscal years 2025 and 2024 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, 2024$371 $19,893 $16,139 $25 (81,493)$(8,807)
Net income— — 303 — — — 
Common dividends ($1.04 per share)
— — (302)— — — 
Issuance of shares under employee and other plans, net— (65)— — 679 (12)
Share-based compensation— 90 — — — — 
Common stock held in trusts, net (a)— — — — (8)— 
Repurchase of common stock— (150)— — (2,637)(606)
Balance at December 31, 2024$371 $19,768 $16,141 $25 (83,459)$(9,425)
Net income— — 308 — — — 
Common dividends ($1.04 per share)
— — (298)— — — 
Issuance of shares under employee and other plans, net— (6)— 78 13 
Share-based compensation— 59 — — — — 
Common stock held in trusts, net (a)— — — — 13 — 
Repurchase of common stock— 150 — — (619)(150)
Balance at March 31, 2025$371 $19,971 $16,150 $26 (83,987)$(9,561)
Net income— — 574 — — — 
Common dividends ($1.04 per share)
— — (299)— — — 
Issuance of shares under employee and other plans, net— (2)— (1)18 — 
Share-based compensation— 55 — — — — 
Common stock held in trusts, net (a)— — — — — 
Balance at June 30, 2025$371 $20,024 $16,426 $26 (83,967)$(9,561)
 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, 2023$371 $19,720 $15,535 $24 (80,203)$(8,305)
Net income— — 281 — — — 
Common dividends ($0.95 per share)
— — (275)— — — 
Issuance of shares under employee and other plans, net— (62)— — 647 (20)
Share-based compensation— 83 — — — — 
Common stock held in trusts, net (a)— — — — (19)— 
Repurchase of common stock— — — — (2,118)(503)
Balance at December 31, 2023$371 $19,741 $15,540 $24 (81,692)$(8,828)
Net income— — 537 — — — 
Common dividends ($0.95 per share)
— — (275)— — — 
Issuance of shares under employee and other plans, net— (5)— 72 17 
Share-based compensation— 60 — — — — 
Common stock held in trusts, net (a)— — — — 32 — 
Balance at March 31, 2024$371 $19,795 $15,802 $26 (81,588)$(8,811)
Net income— — 487 — — — 
Common dividends ($0.95 per share)
— — (275)— — — 
Issuance of shares under employee and other plans, net— (2)— (4)26 
Share-based compensation— 54 — — — — 
Common stock held in trusts, net (a)— — — — 10 — 
Balance at June 30, 2024$371 $19,847 $16,015 $22 (81,552)$(8,807)
(a)Common stock held in trusts 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.
Share Repurchases
In the first quarter of fiscal year 2025, the Company executed an accelerated share repurchase (“ASR”) agreement and accounted for the agreement as two transactions upon prepayment: (1) the initial delivery of shares was recorded as an increase to Common stock in treasury to recognize the acquisition of common stock acquired in a treasury stock transaction, and (2) the remaining amount of shares was recorded as a decrease to Capital in excess of par value to recognize a net share-settled forward sale contract indexed to the Company's own common stock. Upon final settlement of the repurchase agreement and the forward sale contract in the second quarter of fiscal year 2025, the Company’s receipt of additional shares was recorded as an increase to Common stock in treasury and an offsetting increase to Capital in excess of par value. The impacts of these accelerated share repurchase transactions were as follows:
Execution DateSettlement DateAggregate Common Stock Repurchased (millions of dollars) (a)Initial Shares Delivered (in thousands)Additional Shares Delivered at Settlement (in thousands) (b)Total Shares Delivered (in thousands)
Q1 2025Q2 2025$750 2,637 619 3,256 
(a)    Excludes a 1% excise tax on share repurchases of $6 million.
(b)    The final settlement for the first quarter transaction amounted to $150 million.
In the first quarter of 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, excluding a 1% excise tax on share repurchases of $3 million. The share repurchases were recorded as an increase to Treasury stock.
The share repurchases discussed above were made pursuant to the repurchase program authorized by the Board of Directors on November 3, 2021, for 10 million shares of BD common stock, for which there is no expiration date. On January 28, 2025, the Board of Directors authorized BD to repurchase up to an additional 10 million shares of BD common stock, for which there is also no expiration date. As of June 30, 2025, 13 million shares remained unused under these programs.
The components and changes of Accumulated other comprehensive income (loss) for the first three quarters of fiscal years 2025 and 2024 were as follows:
(Millions of dollars)TotalForeign Currency
Translation
Benefit Plans
Cash Flow Hedges
Available-for-Sale Debt Securities
Balance at September 30, 2024$(1,732)$(1,244)$(557)$70 $(1)
Other comprehensive income before reclassifications, net of taxes49 46 — — 
Amounts reclassified into income, net of taxes— (2)— 
Balance at December 31, 2024$(1,676)$(1,199)$(549)$72 $(1)
Other comprehensive loss before reclassifications, net of taxes(47)(48)— — — 
Amounts reclassified into income, net of taxes— — — 
Balance at March 31, 2025$(1,716)$(1,246)$(541)$72 $(1)
Other comprehensive (loss) income before reclassifications, net of taxes(109)(114)— 
Amounts reclassified into income, net of taxes12 — — 
Balance at June 30, 2025$(1,813)$(1,360)$(533)$80 $— 
(Millions of dollars)TotalForeign Currency
Translation
Benefit Plans
Cash Flow Hedges
Available-for-Sale Debt Securities
Balance at September 30, 2023$(1,548)$(1,078)$(571)$103 $— 
Other comprehensive income (loss) before reclassifications, net of taxes21 40 — (19)— 
Amounts reclassified into income, net of taxes12 — 12 — 
Balance at December 31, 2023$(1,515)$(1,038)$(559)$84 $— 
Other comprehensive (loss) income before reclassifications, net of taxes(31)(41)— (1)
Amounts reclassified into income, net of taxes11 — 12 (1)— 
Balance at March 31, 2024$(1,535)$(1,079)$(548)$93 $(1)
Other comprehensive loss before reclassifications, net of taxes(53)(53)— — — 
Amounts reclassified into income, net of taxes— 12 (2)— 
Balance at June 30, 2024$(1,579)$(1,132)$(536)$90 $(1)
The amounts of foreign currency translation recognized in other comprehensive income during the three and nine months ended June 30, 2025 and 2024 included net (losses) gains relating to net investment hedges. The amounts recognized in other comprehensive income relating to cash flow hedges during the three and nine months ended June 30, 2025 primarily related to foreign exchange contracts. The amounts recognized in other comprehensive income relating to cash flow hedges during the nine months ended June 30, 2024 primarily related to forward starting interest rate swaps, which were terminated in the second quarter of fiscal year 2024. Additional disclosures regarding the Company's derivatives are provided in Note 12.
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 and nine months ended June 30, 2025 and 2024 were immaterial to the Company's consolidated financial results.