C. R. Bard, Inc.

2014 Annual Report

 3,323.6
3,049.5 +9%
Net Sales +3%
2,958.1
(in millions of dollars)

3,323.6
3,049.5 +9%
2,958.1 +3%
Net Sales
(in millions of dollars)
12 13 14

3,049.5
3,323.6
+9%
FINANCIAL HIGHLIGHTS
2,958.1 +3%
Operations as of and for the year ended December 31:
12 13 14
(dollars in millions except per share data) 2014 2013 2012

Net sales $ 3,323.6 $ 3,049.5 $ 2,958.1

Net income $ 294.5 $ 689.8 $ 530.1
Diluted
12 Earnings
13 Per
14 Diluted earnings per share available
Share Available To to common shareholders $ 3.76 $ 8.39 $ 6.16
Common Shareholders1
(in dollars) Diluted earnings per share available
to common shareholders
Diluted Earnings Per
8.40 excluding the items identified below $ 8.40 $ 6.51 $ 7.22
Share Available To
+29% 1
Common Shareholders
6.51 Cash dividends paid per share $ 0.86 $ 0.82 $ 0.78
7.22
(in dollars) -10% Research and development expense $ 302.0 $ 295.7 $ 203.2
Return on shareholders’ investment 15.1% 34.4% 28.7%
8.40
Diluted Earnings Per
+29% Number of employees 13,900 13,000 12,200
6.51
Share
7.22 Available To
-10%
Common Shareholders 1
“Net sales in constant currency” and “diluted earnings per share available to common shareholders excluding the items identified
(in dollars) below” (adjusted EPS) are non-GAAP financial measures. For a reconciliation of net sales in constant currency, see page II-4 in the
12 13 14 accompanying Annual Report on Form 10-K for the year ended December 31, 2014 (Form 10-K).

1 8.40 Net Income and Adjusted Earnings Per Share Reconciliation

Excluding the items identified
to the right +29% •D
 escribed below are certain items in each of 2014, 2013 and 2012 that affect the comparability of the company’s results of
7.22 6.51
operations between periods.
-10%
12 13 14 •F
 or the year ended December 31, 2014, the following items affected the comparability of results between periods: (i) net
charges of $31.9 million pre-tax for acquisition-related items including purchased research and development, transaction
1
Excluding the items identified costs, purchase accounting adjustments and integration costs; (ii) a credit of $3.5 million pre-tax related to the excise tax
to the right paid on U.S. medical device sales in 2013 associated with an agreement reached with the IRS during 2014; (iii) a charge of
$6.2 million pre-tax related to an asset impairment; (iv) charges of $288.6 million pre-tax related to estimated costs for
product liability matters, net of recoveries, which includes $30.1 million of litigation-related defense costs in connection with
the District Court’s pre-trial orders that the company prepare 500 individual cases for trial; (v) charges of $11.8 million pre-tax
12 13 14 for restructuring and productivity initiatives; (vi) a gain of $7.1 million pre-tax related to the sale of an equity investment; and
Cash Dividends (vii) a decrease of $10.9 million in the income tax provision associated with the completion of IRS examinations for the tax
Paid
1
PertheShare
Excluding items identified years 2008 through 2010. The net effect of these items decreased net income by $291.5 million, or $3.72 diluted earnings per
to dollars)
(in the right share available to common shareholders. Amortization of intangible assets was $108.8 million pre-tax, which decreased net
income on an adjusted basis by $72.4 million, or $0.92 diluted earnings per share available to common shareholders.
.82 .86
+5% •F
 or the year ended December 31, 2013, the following items affected the comparability of results between periods: (i) charges
Cash +5%
.78Dividends of $50.3 million pre-tax for acquisition-related items including purchased research and development, transaction costs,
Paid Per Share purchase accounting adjustments and integration costs; (ii) charges of $12.3 million pre-tax related to asset impairments;
(in dollars) (iii) a gain of $894.3 million pre-tax related to a patent infringement judgment against W. L. Gore & Associates, Inc.;
(iv) charges of $428.0 million pre-tax related to estimated costs for product liability matters, net of recoveries, and other
.82 .86 litigation matters; (v) a gain of $213.0 million pre-tax related to the sale of the electrophysiology division; (vi) a charge of
+5% +5% $22.5 million pre-tax related to a contribution to the C. R. Bard Foundation, Inc.; (vii) charges of $17.5 million pre-tax for
.78
divestiture-related costs; (viii) a reversal of $1.4 million pre-tax of restructuring costs; and (ix) a decrease of $2.2 million in
Cash Dividends the income tax provision associated with the remeasurement of an uncertain tax position as a result of a legal settlement.
Paid Per Share The net effect of these items increased net income by $214.9 million, or $2.61 diluted earnings per share available to common
12
(in dollars) 13 14 shareholders. Amortization of intangible assets was $89.5 million pre-tax, which decreased net income on an adjusted basis
by $60.2 million, or $0.73 diluted earnings per share available to common shareholders.
.82 .86
+5% •F
 or the year ended December 31, 2012, the following items affected the comparability of results between periods:
.78 +5% (i) charges of $9.4 million pre-tax for acquisition-related items including purchased research and development, transaction
costs, purchase accounting adjustments and integration costs; (ii) charges of $22.2 million pre-tax related to asset
12 13 14 impairments; (iii) net charges of $17.4 million pre-tax for restructuring costs; and (iv) an increase of $1.1 million in the
income tax provision due to the write-down of a tax receivable in a foreign jurisdiction. The net effect of these items
decreased net income by $35.2 million, or $0.41 diluted earnings per share available to common shareholders.
Amortization of intangible assets was $82.7 million pre-tax, which decreased net income on an adjusted basis by
$56.0 million, or $0.65 diluted earnings per share available to common shareholders.

Important Information Regarding Forward-Looking Statements

12 13 14 This report may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995,
which are based on management’s current expectations, the accuracy of which is necessarily subject to risks and uncertainties.
These statements are not historical in nature and use words such as “anticipate”, “estimate”, “expect”, “project”, “intend”,
“forecast”, “plan”, “believe”, and other words of similar meaning in connection with any discussion of future operating or
financial performance. Many factors may cause actual results to differ materially from anticipated results including product
developments, sales efforts, income tax matters, the outcomes of contingencies such as legal proceedings, and other economic,
business, competitive and regulatory factors. The company undertakes no obligation to update its forward-looking statements.
Please refer to “Risks and Uncertainties; Cautionary Statement Regarding Forward-Looking Information” in the accompanying
Form 10-K for more detailed information about these and other factors that may cause actual results to differ materially from
those expressed or implied.
ADVANCING
LIVES AND THE
DELIVERY OF
HEALTH CARE ™
C. R. Bard, Inc., is a leading multinational developer, manufacturer and
marketer of innovative, life-enhancing medical technologies in the fields
of vascular, urology, oncology and surgical specialties. We market our
products and services worldwide to hospitals, individual health care
professionals, extended-care facilities and alternate-site facilities.
We pioneered the development of single-use medical products for
hospital procedures, and we are committed to pursuing technological
innovations that offer superior clinical benefits while helping to reduce
overall health care costs.

C. R. Bard, Inc. 2014 Annual Report 1

DEAR SHAREHOLDERS

John H. Weiland
President and
Chief Operating Officer

Timothy M. Ring
Chairman and
Chief Executive Officer

Bard has come a long way in the two years since we

outlined a new and ambitious three-year strategic
investment plan. At the time, our organic growth was flat,
and we explained that our focus would be on returning
to growth. In 2014, we were pleased to see sequential
improvement in our organic growth rate each quarter,
finishing the year in the mid-single digits.

2 C. R. Bard, Inc. 2014 Annual Report

 As we move into 2015, we remain focused on the execution of this investment plan.
By continuing our efforts to expand into faster-growing geographies; invest in research and
development (R&D) in faster-growing product segments; and acquire new growth platforms,
we expect to continue to shift the mix of our product portfolio toward faster, sustainable
growth and profitability.

INTERNATIONAL MARKETS
We have expanded our presence in international markets. As anticipated in our strategic
investment plan, our emerging market sales continued to increase and, by the end of 2014,
represented about 9% of our total revenue. Overall, about a third of our worldwide sales
representatives are now located in emerging markets.
We are seeing higher productivity from our international teams as they become more
established and broaden their scope and capabilities. Today, 65% of our global work force
is located outside the United States. We have expanded our international product offerings
and have a pipeline of existing products that await regulatory approval in new markets.
In fact, last year, we registered 192 new products internationally.

RESEARCH AND DEVELOPMENT

We had been eagerly anticipating the launch of the Lutonix® 035 drug-coated balloon
(see page 7) since we acquired the technology in late 2011. Following the most rigorous
clinical trial in our history and after a unanimous favorable vote from the U.S. Food & Drug
Administration (FDA) review panel, we received their approval to market the Lutonix® balloon
in the U.S. on October 10, 2014. We began shipping product to customers immediately,
with the first procedures performed the following day. In February 2015, the Centers for
Medicare and Medicaid Services approved a supplemental reimbursement to cover additional
costs to U.S. hospitals for treating Medicare beneficiaries with the Lutonix® balloon in the
outpatient setting. Less than 20 products have received such an approval since 2002 in all
of health care, including pharmaceuticals.
The Lutonix® balloon serves as a good example of how we intend to shift the mix of our
portfolio to faster revenue growth categories. We first acquired a potential game-changing
technology platform, invested in further development and clinical research, and then became the
first-to-market in the U.S. in a new fast-growing segment through careful and diligent execution.
Our investments in R&D led to the launch of over 40 new products in 2014. Besides the
Lutonix® balloon, key launches included Xenmatrix™ AB, the first antibacterial-coated biological
mesh; a DigniShield® stool management system with medication delivery capabilities; the
Site~Rite Vision® II ultrasound system with integrated tip tracking and tip confirmation for PICCs;
new cooling pad configurations for our Arctic Sun® targeted temperature management system

C. R. Bard, Inc. 2014 Annual Report 3

 for use with neonates and pediatric patients; new sizes of our Fluency® Plus endovascular
stent graft; the LifeStream™ balloon expandable vascular covered stent; and the SureStep™
Foley tray system.
Last spring, we opened a new design center in China, further underscoring the importance
of this market not just in terms of sales, but in the generation of new technologies. Products
developed at this center will not only be designed to local regulatory requirements, but to
global standards with the potential to be sold in virtually any geographic market.

CHANGING THE MIX

In business development, we have focused on entering new markets with technologies that
offer the potential for above-average growth. Examples of new market segments we have
entered this way include drug-coated balloons, targeted temperature management, biosurgery,
valvuloplasty and home care.
This year we marked the one-year anniversaries of the acquisitions of Rochester Medical, Inc.,
(including the Magic3® intermittent catheter featured on page 8) and Medafor, Inc., and
both have become key revenue drivers for our urology and biosurgery franchises, respectively.
We remain very active in the assessment of potential acquisitions that will help further
accelerate the growth profile of our product portfolio.
At the same time, we have been focusing on health and economic data to provide
Value Analysis Committees, and other stakeholders at hospitals and large integrated delivery
networks, with the clinical and economic evidence to support our products. These data typically
demonstrate how Bard’s products add value by solving clinical problems while reducing costs
across the spectrum of care.

REVISED MISSION STATEMENT

As the world of health care continues to evolve, we feel it is important that we acknowledge
all of the ways we access and serve our various customers. In 2014, we reviewed our Strategic
Summary and our Mission Statement and realized that while they still had a great deal of
validity, neither was broad enough to capture our mission as we see it today.
More people are receiving the care they need outside of the inpatient setting compared to
just a few years ago. We have been increasing our focus on patients wherever they may be while
continuing to build on our strong story of performance in the acute-care setting. We continue
to work alongside clinicians as they address variability in their care delivery. We can help them
improve quality while enhancing patient satisfaction and addressing the total cost along the
continuum of care, regardless of where the treatment occurs.
With these ideas in mind, we modified our Mission Statement to affirm Bard’s position as a
leader in the worldwide health care industry, today and in the future:

4 C. R. Bard, Inc. 2014 Annual Report

 To advance lives and the delivery of health care by profitably developing, manufacturing
and marketing value-driven products which meet the quality, integrity, service and innovation
expectations of our customers and patients while providing opportunities for our employees.
As a result, we will optimize shareholder value and be a respected worldwide health care company.

MANAGEMENT AND THE BOARD OF DIRECTORS

We continue to benefit from the capable guidance and counsel of our experienced Board of
Directors, which remains unchanged since last year.
On the management side, we bid farewell to three executive officers: Gary D. Dolch, PhD,
Senior Vice President, Quality, Regulatory and Medical Affairs; Peter M. Kreindler, Senior Vice
President, General Counsel and Secretary; and Bronwen K. Kelly, Vice President, Human
Resources. We thank each of them for their contributions to Bard, and wish them all the
best in retirement.
We are excited to welcome Samrat S. Khichi as Senior Vice President, General Counsel
and Secretary, and Betty D. Larson as Vice President, Human Resources. In addition,
Patricia G. Christian was promoted to Vice President, Quality, Regulatory and Medical
Affairs with the retirement of Gary Dolch.

THE YEAR AHEAD

Our objective is to position Bard to deliver above-market revenue growth for years to come.
We believe the investments we have made—and plan to make in 2015—will improve the organic
engine of the company in both revenue and profitability.
We can only achieve sustainable long-term growth with the entire organization aligned
and focused on the execution of our strategic investment plan. We thank our employees for
the hard work and commitment they demonstrated in 2014.
As we work to further accelerate the growth profile of the business, we thank you, our
shareholders, for your steadfast support.

Sincerely,

Timothy M. Ring John H. Weiland

Chairman and President and
Chief Executive Officer Chief Operating Officer

February 23, 2015

C. R. Bard, Inc. 2014 Annual Report 5

“I was very fortunate
that my doctor
asked me to be
part of a study.”

6 C. R. Bard, Inc. 2014 Annual Report

OPEN TO A
NEW TREATMENT
After winding down his career as a pediatric dentist in suburban Boston,
Terry Hoover and his wife Ann retired to a cottage on the banks of the
Potomac River in rural Maryland. It’s a long way from the bustle of the
city, but the active couple enjoy the expansive views from their porch
and the opportunity to trap fresh blue crabs right off their own dock.
While taking his dog out for a brisk walk one day in 2011, Terry
developed a small twinge in the calf of his right leg. Hoping it would
resolve itself in a couple of days, he tried to walk through the pain, but
it only worsened. “As the weeks went by, it became more difficult for
me to effectively leave my house,” he remembers. His local cardiologist
suspected peripheral arterial disease (PAD) and referred him to Nelson
Bernardo, MD, a cardiologist at Washington Hospital Center in Washington,
DC, to have the narrowed artery opened via balloon angioplasty.
Two and a half months after his initial procedure, the pain in Terry’s
leg returned. “I went back to see Dr. Bernardo, and I was very fortunate
in that not only was he willing to try again, but he asked me to be part of
a study,” says Terry. That study was the LEVANT 2 clinical trial—the first
FDA-approved pivotal trial for a drug-coated balloon. The LEVANT 2 trial
compared a Lutonix® balloon coated with a therapeutic dose of the drug
paclitaxel to a plain, uncoated balloon for treatment of PAD in the
femoropopliteal arteries. Paclitaxel has been shown to delay or prevent
the regrowth of fibrous tissue, allowing the diseased vessel to stay open.
Three years after his treatment with the Lutonix® drug-coated
balloon, Terry remains free of pain and full of energy. “Part of my life
is spent taking care of our property, which I enjoy,” he says. “I’m
looking forward to the future and living on the water with my wife
for many years ahead.”

C. R. Bard, Inc. 2014 Annual Report 7

 NO TIME
TO WORRY
Wake up. Let the dogs out. Drop the kids off at school. Go to work or run
some errands—or both. Most parents can relate to the routine hustle and
bustle of daily life with school-age children, but few can comprehend such
a busy lifestyle while being paralyzed from the waist down.
Leslie Ostrander—married mother of two boys, writer, motivational
speaker, advocate for the disabled, and a C-7 quadriplegic since a car
accident when she was only four years old—is active by any standard.
She met her husband while she was on a ski trip. He was an instructor with
experience in adaptive sports. “The first thing Aaron ever said to me was,
‘Nice wheels, babe!’” she laughs. “It didn’t take long before he introduced
me to other sports, from tubing to wheelchair racing.” They also enjoy
some more relaxing pursuits, such as fishing and boating on the Gulf of
Mexico and camping with their sons.
Whatever the activity, Leslie does not want to waste time worrying
about emptying her bladder. “When I was a child, the only option was
to use indwelling catheters,” she recalls. “Like so many people with
paralysis, I had more than my share of urinary tract infections.” Eventually,
intermittent self-catheterization became available, providing a better
option for consumers.
Leslie has experienced the evolution of the technology firsthand, and
today she favors the innovative Magic3® catheter because of its comfort and
convenience. It combines the benefits of an all-silicone design and packaging
for easy handling, comfort and convenience.
When she’s out and about, the closed system gives her total freedom.
“The sterile, single-use packages are discreet and easy to use, whether I’m
at a campsite or a shopping center,” says Leslie. “I can put catheterization
out of my mind and instead focus on family, friends and the things that
matter most.”

8 C. R. Bard, Inc. 2014 Annual Report

“I can put catheterization
out of my mind and
instead focus on the
things that matter most.”

C. R. Bard, Inc. 2014 Annual Report 9

“The idea that in a
couple of years,
no synthetic material
would be left in my
body really appealed
to me.”

10 C. R. Bard, Inc. 2014 Annual Report

NOTHING
LEFT BEHIND
The word “retirement” is not in the vocabulary of Evangelos “Angel” Levas.
He started working when he was 10, slicing buns at the hot dog stand that
his parents owned in downtown Lexington, Kentucky. After he graduated
from the University of Kentucky on an ROTC scholarship, he served as an
Air Force officer in Germany before returning home to partner with his
brother, John Levas, transforming their parents’ business into the premier
fine dining destination in the city. “I was married to the restaurant,” he
recalls. “A short day was 14 hours.”
When he closed the restaurant, he entered the next phase of his career,
selling microsurgery devices for ophthalmology. “I figured if I could sell hot
dogs, I could sell anything,” he jokes. Angel still takes an active interest in
the business at the age of 83, as it gives him time to indulge his passion for
travel—including to his parents’ homeland of Crete—and leaves time for his
many other interests and activities.
Early in 2013, Angel had open surgery on his intestine, and he spent
two weeks recovering in the hospital. Less than a year later, he developed
an incisional hernia when part of his intestine began to push through his
abdominal wall where it had been weakened by the surgery. Frustrated,
he sought the advice of J. Scott Roth, MD, a surgeon at the University
of Kentucky, who recommended using Bard’s Phasix™ mesh to repair the
hernia. Dr. Roth explained that the Phasix™ mesh is a fully resorbable
synthetic hernia patch that provides a strong, durable repair without
leaving foreign material permanently in the body.
“The idea that in a couple of years, no synthetic material would be left
in my body really appealed to me,” says Angel. Now fully recovered, he’s
already planning several trips, including visits to ophthalmology symposia
in San Diego and Barcelona and his annual visit to Crete. “I don’t have
time to put life on hold for another surgery.”

C. R. Bard, Inc. 2014 Annual Report 11

 928.3
842.4 845.0 +12%
830.0
Net Sales
755.9 +11% +0% -2%
(in millions of dollars)
773.583876
+11%
681.5 928.3
842.4 845.0 +12%
618.867101 830.0
755.9 +11% +0% -2%
464.150326
773.583876
+11%
681.5
309.433551
618.867101

154.716775
464.150326

0.000000
309.433551
Net Sales 09 10 11 12 13 14
PRODUCT GROUP REVIEW 154.716775 (in millions of dollars)

928.3
+12%
0.000000 842.4 845.0 830.0
755.9 +11% +0% -2% 09 10 11 12 13 14
Net Sales +11%
681.5
Net Sales
(in millions of dollars)
(in millions of dollars)

928.3
28%
Net Sales
928.3 842.4 845.0 830.0 +12%
Key Products (in millions of dollars) Key Products
Vascular 842.4
755.9 +11%
845.0
+0%
830.0
-2%
+12% 755.9 +11% +0%
+11% Endovascular
-2% Urology 835.9 Total
757.8 776.6 +8% Net
Basic Drainage Sales
+11% 681.5 718.1 734.8
Net Sales
681.5
Biopsy Devices Net Sales
millions+3%
+2% +3% +2% 28% Self Catheters
Intermittent
(in millions of dollars)
696.583520
Valvuloplasty Devices 700.3
(in of dollars)
28% Urinary Catheters and Trays
928.3 Peripheral Angioplasty Catheters 835.9 Infection Control Foley Catheters
845.0 830.0 +12%
842.4557.266816 Drug-coated PTA Balloons
734.8 757.8 776.6 +8% Ureteral Catheters
Totaland Stents
755.9 +11% +0% -2% 09 10 11 12 Filters
Vena Cava 13 14 718.1
+2% +3% +2%
Total Urine Collection
NetDevices
Sales
700.3 +3%
+11% 417.950112
696.583520 Peripheral Vascular Stents Net Sales Continence
681.5
278.633408
557.266816
and Stent Grafts
Grafts
28% Surgical Continence Products
Fecal Incontinence Products
Dialysis Access Grafts Continence Management Devices
139.316704
417.950112 09 10 11 12 Vascular
Peripheral 13 Grafts
14 Total Urological Specialties
09 10 11 12 13 14 Net Sales Brachytherapy Services,
0.000000
278.633408
Net Sales 09 10 11 12 13 14 Seeds and Accessories
139.316704 (in millions of dollars) Specialty Foley Catheters
835.9 Stone Management Devices
0.000000 757.8 776.6 +8% Catheter Stabilization
09 10 11 12 13 14 718.1 734.8
+3% +2% 09 10 11 12 13 14
+3% +2% Targeted Temperature
700.3 Sales
Net
(in millions of dollars)28%
Five-Year Compound Growth Rate: 6.4% Five-Year Compound Growth Rate: 3.6% Management Products
Net Sales
(in millions of dollars)
Net Sales
(in millions of dollars)
25%
835.9
776.6 +8%
2014 Net Sales Growth 835.9
718.1 734.8
757.8 Total
+2%
2014 Net Sales Growth 857.1 910.9 +6%
757.8 776.6 +8% +3% +2% +3% Net Sales 812.4 Total
718.1 734.8 +3% +2%Constant 700.3 Net Sales 779.5 +4% +6% Constant

Vascular +3% +2% Reported Currency Urology 724.8 +8% Reported Currency Net Sales
700.3 (in millions of dollars)
Net Sales 759.083535 28% 678.7
+7% 25%
EP*
(in millions of dollars) -66% -66% Basic Drainage 25% 7% 910.9
857.1 +6%
7%
779.5 812.4 +6%
607.266828
Endovascular** 28% 28% 835.9 Continence +4%
33% 33%
776.6 +8% Total 724.8 +8% Total
Grafts 734.8759.083535 757.8 -3% -3% Urological Specialties
+7% 5% 5%
718.1 455.450121
+2% +3% +2% 09 10 11 12 13 Net14
Sales 678.7 Total Net Sales
Total +3%
700.3 Vascular 12% 12% Catheter Stabilization -2% -2%
303.633414
Net Sales
607.266828
* In November 2013, Bard sold its electrophysiology division to Boston Scientific,
retaining only the guidewire and temporary pacing electrode product lines.
Total Urology 25%8% 8%
151.816707
455.450121
** In 2014, the company began receiving royalty payments from W. L. Gore & Associates, Inc.

0.000000
303.633414 09 10 11 12 13 14 Total
09 10 11 12 13 Net14Sales 09 10 11 12 13 Net14Sales
151.816707 (in millions of dollars)

910.9
0.000000 Key Products 857.1 +6% Key Products
779.5 812.4 +6% 09 10 11 12 13 14
Oncology 724.8 +8% +4%
Implantable Ports
Surgical Specialties
09 10 11 12 13 Net14Sales
678.7
+7%
Chronic Catheters
Soft Tissue Repair
Net Sales (in millions of dollars) Net Sales Inguinal Hernia Repair Products
(in millions of dollars) 25%
Peripherally Inserted 910.9 (in millions of dollars) 27%
Ventral Hernia Repair Products
910.9 857.1 (PICCs)
Central Catheters +6% 555.1 Complex Hernia Repair Products
812.4
857.1 +6% 779.5 Access+6%
Dialysis+4% Catheters 499.0 +11% Breast Reconstruction
812.4 +6%
779.5555.099976 724.8 +8% Total
Vascular Access Ultrasound Net Sales Total Products
+7% 455.1 +10%
724.8 +8% +4% 678.7 434.6 450.0 Surgical Fixation Devices
Net Sales
+7% Net Sales
Enteral Feeding Devices (in millions of dollars)
+12% +4% +1%
Net Sales Performance Irrigation
678.7
462.583313
387.8 555.1 27%
Orthopedic and
25%
(in millions of dollars)
370.066650
555.099976 910.9
27%
499.0 +11%
Hysteroscopic Devices
857.1 450.0 455.1 +10%
+6% 434.6 Laparoscopic Devices
Total
812.4 +6% +4% +1%
779.5
277.549988
462.583313 09 10 11 12 13 14 +12% and Accessories
724.8 +8% +4% Total 387.8
Total Net Sales
+7% Net Sales Biosurgical Products
678.7 185.033325
370.066650 Net Sales
Topical Blood Clotting Products
92.516663
277.549988
27% Surgical Hemostats
Surgical Sealants
0.000000
185.033325 09 10 11 12 13 14
09 10 11 12 13 Net14Sales 09 10 11 12 13Total
14
(in millions of dollars) Net Sales
92.516663
Five-Year Compound Growth Rate: 6.1% 555.1
Five-Year Compound Growth Rate: 7.4%
499.0 +11%
0.000000
+10% 09 10 11 12 13 14
2014 Net Sales Growth 434.6 450.0 455.1 2014 Net Sales Growth
09 10 11 12 13 Net14Sales+12% +4% +1%

Net Sales Constant
(in millions
387.8 of dollars) Constant
Oncology Reported Currency Surgical Specialties Reported Currency 17%
27%
(in millions of dollars)
555.1
555.1 499.0 +11%
Ports 3% 3% Soft Tissue Repair 5% 5%
PICCs and Midlines 499.0 +11%
10% 10%434.6 450.0 455.1
+10%
Performance Irrigation -10% -10%
450.0 455.1 +10% +4% +1% Total
Dialysis 434.6
& Other 4% 387.84%+12% Biosurgical Products 71% 72% Total
Net Sales +12% +4% +1% Net Sales
17%Net Sales
387.8 Oncology 6% 7%
(in millions
Total of dollars)
Total Surgical 17%
11% 12%
555.1 27%
499.0 +11%
450.0 455.1 +10% 09 10 11 12 13 14 Total
434.6 Total
+12% +4% +1% Total Net Sales
387.8
Net Sales
17% Net Sales
09 10 11 12 13 14
09 10 11 12 13 14
12 C. R. Bard, Inc. 2014 Annual Report Total
Net Sales
2014 CHARLES RUSSELL BARD AWARD RECIPIENTS

These employees were nominated by their colleagues for their exemplary performance and
commitment to Bard’s principles of Quality, Integrity, Service and Innovation. Each has also
demonstrated the highest of personal values through a dedication to community and family.

Front, L-R: Middle, L-R: Rear, L-R:

Samuel Andres Villegas Giorgi Alex Wang Michael DeTemple

EMEA Marketing Director National Sales Field Manager
Davol, Bard EMEA Operation Manager/BAS Bard Peripheral Vascular
Barcelona, Spain Bard China Tempe, AZ
Wuhan, China
Josie Barnés Mastache Frances Protano
Sr. Director of Human Resources Keith Dorsey Sales Training Coordinator
Bard Shannon Ltd. & Director of Commercial Davol Inc.
Bridger Montana Project Management Warwick, RI
Humacao, PR Davol Inc.
Warwick, RI Robert Proctor
Carol Pegler Principal Software Engineer
Director of Human Resources Myra McGinley BMD Medivance
Australia/NZ and Rest of Asia Senior Manager Louisville, CO
Sydney, Australia Corporate Governance
Bard Corporate Russell Stevens
Murray Hill, NJ Controller
World Wide Operations
Pamela Welch Bard Corporate
Not shown: Quality Engineer II Murray Hill, NJ
Glens Falls Technology Center
David Barcomb Queensbury, NY Robert Higgins
Planning & Purchasing Associate Director
Manager/Lutonix Quality Assurance
Glens Falls Technology Center Bard Access Systems
Queensbury, NY Salt Lake City, UT

C. R. Bard, Inc. 2014 Annual Report 13

BOARD OF DIRECTORS
Timothy M. Ring
Chairman and
Chief Executive Officer
C. R. Bard, Inc.
David M. Barrett, MD
Emeritus President and
Chief Executive Officer
The Lahey Clinic
Clinical Professor of Surgery
Dartmouth Medical School
Marc C. Breslawsky
Retired Chairman and
Chief Executive Officer
Imagistics International Inc.
Herbert L. Henkel
Retired Chairman and
Chief Executive Officer
Ingersoll-Rand Company
John C. Kelly
Retired Vice President
and Controller
Wyeth
David F. Melcher
Chief Executive Officer
and President
Exelis, Inc.
14 C. R. Bard, Inc. 2014 Annual Report
Gail K. Naughton, PhD
Chairman and
Chief Executive Officer
Histogen, Inc.
Tommy G. Thompson
Former U.S. Department
of Health & Human
Services Secretary
Former Governor of
Wisconsin
John H. Weiland
President and
Chief Operating Officer
C. R. Bard, Inc.
Anthony Welters
Executive Chairman of
BlackIvy Group LLC and
Senior Advisor to the
Chief Executive Officer of
UnitedHealth Group, Inc.
Tony L. White
Retired Chairman, President
and Chief Executive Officer
Applied Biosystems, Inc.
CORPORATE LEADERSHIP TEAM

Timothy M. Ring* Samrat S. Khichi* Brian J. Leddin

Chairman and Senior Vice President, Vice President
Chief Executive Officer General Counsel Global Ethics and
and Secretary Compliance Officer
John H. Weiland*
President and Andrea J. Casper Scott T. Lowry
Chief Operating Officer Vice President Vice President
Regulatory Affairs and Treasurer
Christopher S. Holland*
Senior Vice President and Patricia G. Christian* Frank Lupisella Jr.*
Chief Financial Officer Vice President Vice President
Quality, Regulatory and Controller
Jim C. Beasley* and Medical Affairs
Group President Patrick D. Roche
Todd W. Garner Vice President
Timothy P. Collins* Vice President Information
Group President Investor Relations Technology Solutions

John P. Groetelaars* Charles A. Krauss Richard C. Rosenzweig

Group Vice President Vice President Vice President
Intellectual Property and Law and
Sharon M. Luboff* Operational Excellence Assistant Secretary
Group Vice President
Betty D. Larson* Gin Schulz
John A. DeFord, PhD* Vice President Vice President
Senior Vice President Human Resources Quality Assurance
Science, Technology and
Clinical Affairs

* Denotes Executive Officer

C. R. Bard, Inc. 2014 Annual Report 15

 CORPORATE INFORMATION
Corporate Offices Registrar and Transfer Agent
730 Central Avenue Computershare Trust Company, N.A.
Murray Hill, New Jersey 07974 Shareholder Relations
(908) 277-8000 250 Royall Street
www.crbard.com Canton, Massachusetts 02021
(800) 446-2617
Auditors www.computershare.com/investor
KPMG LLP
51 John F. Kennedy Parkway Please direct inquiries regarding change of address,
Short Hills, New Jersey 07078-2778 lost certificates and other share transfer matters
to the above address.
Annual Meeting
10:00 a.m., Wednesday, April 15, 2015 Computershare Investment Plan for Shareholders
Wyndham Hamilton Park Hotel and Conference Center Registered shareholders and non-shareholders may
175 Park Avenue purchase Bard common stock at any time with a low fee
Florham Park, NJ 07932 structure compared with normal brokerage fees. Dividends
may be reinvested in Bard common stock at no cost to the
Shareholder Information shareholder. The plan is a convenient and economical way
Additional shareholder or investor information on Bard’s for shareholders to initiate and increase their investment in
reports or filings with the SEC, Corporate Governance Bard through the purchase of shares with voluntary cash
Guidelines, Code of Ethics for Senior Financial Officers and payments and/or all or part of their dividends. Cash
other governance materials are posted on Bard’s web site at payments may be made by mail or through automatic
www.crbard.com. Shareholders may receive, without charge, monthly deductions from their bank account.
printed copies of these documents by contacting:
250
For details or enrollment in the Computershare Investment
Todd W. Garner Plan or for direct deposit of dividends, simply contact
200
Vice President – Investor Relations Computershare, which administers these programs for Bard.
C. R. Bard, Inc. Please direct inquiries to:
730 Central Avenue
150
Murray Hill, New Jersey 07974 Computershare Investment Plan
(908) 277-8065 for Shareholders of C. R. Bard, Inc.
Computershare Trust Company, N.A.
100
Comparison of Five-Year Cumulative Total Returns 250 Royall Street
The graph below compares the cumulative total shareholder Canton, Massachusetts 02021
return on Bard common stock for the last five years with (800) 446-2617
50
the cumulative total return on the S&P 500 Index and the www.computershare.com/investor
S&P 500 Health Care Equipment Index over the same period.
The graph assumes the investment of $100 in each of Bard Proposed Next Four Dividend Dates
common stock, the S&P 500 Index and the S&P 500 Health
Care Equipment Index on December 31, 2009, and that all 2015 Record Date Payment Date
dividends were reinvested.
Second April 27 May 8
$250
Third July 20 July 31
Fourth October 26 November 6
$200
2016

$150 First January 25 February 5

$100

Advancing Lives and the Delivery of Health Care, Bard, Arctic Sun, DigniShield, Fluency,
$50 LifeStream, Lutonix, Magic3, Medafor, Phasix, Rochester, Site~Rite Vision, SureStep and
Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 XenMatrix are trademarks and/or registered trademarks of C. R. Bard, Inc.

C.R. Bard, Inc. S&P 500 Index S&P 500 Health Care Equipment Index
All other trademarks are the property of their respective owners.
Stock Listed
New York Stock Exchange (NYSE)
Symbol: BCR © 2015 C. R. Bard, Inc. All Rights Reserved.

16 C. R. Bard, Inc. 2014 Annual Report

C. R. Bard, Inc.

730 Central Avenue

Murray Hill, New Jersey 07974
www.crbard.com