STANLEY BLACK & DECKER, INC. - FORM 8-K - EX-12.1 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - November 6, 2012

Attached files

file filename
8-K - FORM 8-K - STANLEY BLACK & DECKER, INC.d435371d8k.htm
EX-5.1 - OPINION OF DONALD J. RICCITELLI WITH RESPECT TO THE LEGALITY OF THE NOTES - STANLEY BLACK & DECKER, INC.d435371dex51.htm
EX-4.3 - FIFTH SUPPLEMENTAL INDENTURE - STANLEY BLACK & DECKER, INC.d435371dex43.htm
EX-5.3 - OPINION OF MILES & STOCKBRIDGE P.C. - STANLEY BLACK & DECKER, INC.d435371dex53.htm
EX-1.1 - UNDERWRITING AGREEMENT - STANLEY BLACK & DECKER, INC.d435371dex11.htm
EX-5.2 - OPINION OF SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP - STANLEY BLACK & DECKER, INC.d435371dex52.htm

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

For the nine months ended September 29, 2012 and the fiscal years ended December 31,

2011, January 1, 2011, January 2, 2010, and January 3, 2009

(Millions of Dollars)

 

     Fiscal Year  
     2012      2011      2010      2009      2008  

Earnings from continuing operations before income taxes and non-controlling interest

    $ 507.3         779.8       $ 239.8       $ 282.6       $ 285.4   

Add:

               

Interest expense

      105.1         140.3         109.9         63.7         92.0   

Portion of rents representative of interest factor

      12.0         16.2         17.9         6.2         8.6   

Distributed income of equity investees

      —           2.8         3.5         —           —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Income as adjusted

    $ 624.4         939.1       $ 371.1       $ 352.5       $ 386.0   

Fixed charges:

               

Interest expense

    $ 105.1       $ 140.3       $ 109.9       $ 63.7       $ 92.0   

Portion of rents representative of interest factor

      12.0         16.2         17.9         6.2         8.6   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

    $ 117.1       $ 156.5       $ 127.8       $ 69.9       $ 100.6   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      5.3         6.0         2.9         5.0         3.8   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

COMPUTATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES

AFTER ADJUSTMENT FOR ISSUANCE OF DEBENTURES

For the nine months ended September 29, 2012 and the fiscal year ended December 31, 2011

(Millions of Dollars)

 

     2012      2011  

Earnings from continuing operations before income taxes and non-controlling interest

    $ 507.3         779.8   

Fixed charges, as above

      117.1         156.5   

Adjustments:

      

Estimated net increase in interest expense from refinancing

      15.8         22.0   
  

 

 

     

 

 

  

Total Pro Forma Fixed charges

    $ 132.9       $ 178.5   
  

 

 

     

 

 

  

Pro forma ratio of earnings to fixed charges

      4.7         5.3   
  

 

 

     

 

 

  

STANLEY BLACK & DECKER, INC. Reports