About one-third of the physics majors in the class of 2001 took more than 4 years to complete their undergraduate studies. The most common reasons were receiving a double major and changing majors. There are 761 departments in the US that confer at least a bachelor's degree in physics. These programs produced 4091 bachelor's degrees in the class of 2001. The data in this report are based on responses from 1,581 physics seniors who indicated they had received or were going to receive their physics bachelors during the 2000-01 academic year. Each year about 35% of the physics students with senior status do not receive a bachelor's degree. These students, for a number of reasons, maintain their senior status for more than one year and are not included in this report. The amount of time it takes physics undergraduates to obtain their degrees will be discussed later in the report. (Contains 11 tables and 9 figures.)