10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 30, 2013.

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from [            ] to [            ]

Commission File Number 001-05224

STANLEY BLACK & DECKER, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

CONNECTICUT	06-0548860
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)	(I.R.S. EMPLOYER IDENTIFICATION NUMBER)
	\\nbc-prd-hypfs-01\K
1000 STANLEY DRIVE NEW BRITAIN, CONNECTICUT	06053
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)	(ZIP CODE)

(860) 225-5111

(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  þ    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  þ    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	þ		Accelerated filer	¨
Non-accelerated filer	¨	(Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  þ

161,916,159 shares of the registrant’s common stock were outstanding as of April 17, 2013

TABLE OF CONTENTS

PART I — FINANCIAL INFORMATION	3
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	3
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	31
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	39
ITEM 4. CONTROLS AND PROCEDURES	39
PART II — OTHER INFORMATION	41
ITEM 1A. RISK FACTORS	41
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	42
ITEM 6. EXHIBITS	43
SIGNATURE	44

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PART I — FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

THREE MONTHS ENDED MARCH 30, 2013 AND MARCH 31, 2012

(Unaudited, Millions of Dollars, Except Per Share Amounts)

	Year-to-Date
	2013			2012
Net Sales	$	2,487.2		$	2,426.1
Costs and Expenses
Cost of sales	$	1,576.3		$	1,514.1
Selling, general and administrative	668.1			635.0
Provision for doubtful accounts	1.8			2.3
Other-net	71.0			67.9
Restructuring charges and asset impairments	42.9			40.0
Interest expense	39.9			33.9
Interest income	(3.2		)	(2.5		)
	$	2,396.8		$	2,290.7
Earnings from continuing operations before income taxes	90.4			135.4
Income taxes on continuing operations	8.8			29.8
Earnings from continuing operations	$	81.6		$	105.6
Less: Net loss attributable to non-controlling interests	(0.4		)	(0.7		)
Net earnings from continuing operations attributable to common shareowners	82.0			106.3
Net (loss) earnings from discontinued operations	$	(0.9	)	$	15.5
Net Earnings Attributable to Common Shareowners	$	81.1		$	121.8
Total Comprehensive (Loss) Income Attributable to Common Shareowners	$	(61.1	)	$	198.7
Basic earnings (loss) per share of common stock:
Continuing operations	$	0.53		$	0.65
Discontinued operations	(0.01		)	0.09
Total basic earnings per share of common stock	$	0.52		$	0.74
Diluted earnings (loss) per share of common stock:
Continuing operations	$	0.52		$	0.63
Discontinued operations	(0.01		)	0.09
Total diluted earnings per share of common stock	$	0.51		$	0.72
Dividends per shares of common stock	$	0.49		$	0.41
Weighted Average Shares Outstanding (in thousands):
Basic	155,552			164,530
Diluted	158,994			168,948

See notes to (unaudited) condensed consolidated financial statements.

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STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

MARCH 30, 2013 AND DECEMBER 29, 2012

(Unaudited, Millions of Dollars, Except Per Share Amounts)

	March 30, 2013			December 29, 2012
ASSETS
Current Assets
Cash and cash equivalents	$	557.5		$	716.0
Accounts and notes receivable, net	1,782.7			1,537.6
Inventories, net	1,539.7			1,316.0
Assets held for sale	83.9			135.2
Other current assets	462.1			394.1
Total Current Assets	4,425.9			4,098.9
Property, Plant and Equipment, net	1,354.6			1,333.6
Goodwill	7,338.9			7,021.1
Intangibles, net	3,340.5			2,934.4
Other Assets	437.6			456.0
Total Assets	$	16,897.5		$	15,844.0
Liabilities and Shareowners’ Equity
Current Liabilities
Short-term borrowings	$	1,331.9		$	1.1
Current maturities of long-term debt	10.6			10.4
Accounts payable	1,514.8			1,349.7
Accrued expenses	1,267.6			1,681.5
Liabilities held for sale	7.7			30.9
Total Current Liabilities	4,132.6			3,073.6
Long-Term Debt	3,494.1			3,526.5
Deferred Taxes	1,033.4			946.9
Post-retirement Benefits	782.9			816.3
Other Liabilities	795.4			753.6
Commitments and Contingencies (Note R)	—			—
Shareowners’ Equity
Stanley Black & Decker, Inc. Shareowners’ Equity
Preferred stock, without par value:         Authorized and unissued 10,000,000 shares
Common stock, par value $2.50 per share: Authorized 300,000,000 shares in 2013 and 2012
Issued 176,906,265 shares in 2013 and 2012	442.3			442.3
Retained earnings	3,304.8			3,299.5
Additional paid in capital	4,435.9			4,473.5
Accumulated other comprehensive loss	(530.2		)	(388.0		)
ESOP	(61.4		)	(62.8		)
	7,591.4			7,764.5
Less: cost of common stock in treasury	(976.7		)	(1,097.4		)
Stanley Black & Decker, Inc. Shareowners’ Equity	6,614.7			6,667.1
Non-controlling interests	44.4			60.0
Total Shareowners’ Equity	6,659.1			6,727.1
Total Liabilities and Shareowners’ Equity	$	16,897.5		$	15,844.0

See notes to (unaudited) condensed consolidated financial statements.

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STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED MARCH 30, 2013 AND MARCH 31, 2012

(Unaudited, Millions of Dollars)

	Year-to-Date
	2013			2012
OPERATING ACTIVITIES
Net earnings attributable to common shareowners	$	81.1		$	121.8
Adjustments to reconcile net earnings to cash used in operating activities:
Depreciation and amortization of property, plant and equipment	58.5			63.2
Amortization of intangibles	47.3			52.6
Asset Impairments	16.5			—
Changes in working capital	(195.0		)	(152.2		)
Changes in other assets and liabilities	(155.9		)	(117.7		)
Cash used in operating activities	(147.5		)	(32.3		)
INVESTING ACTIVITIES
Capital expenditures	(79.5		)	(61.5		)
Business acquisitions, net of cash acquired	(853.9		)	(114.7		)
Proceeds from sale of assets	1.0			1.9
(Payments) proceeds on net investment hedge settlements	(9.2		)	2.0
Cash used in investing activities	(941.6		)	(172.3		)
FINANCING ACTIVITIES
Payments on long-term debt	(0.6		)	(0.3		)
Stock purchase contract fees	(0.8		)	(0.8		)
Net short-term borrowings	1,330.5			196.8
Cash dividends on common stock	(79.1		)	(69.9		)
Payment on forward stock purchase contract	(350.0		)	—
Termination of interest rate swaps	—			35.8
Termination of forward starting interest rate swap	—			(56.4		)
Proceeds from issuances of common stock	83.2			64.6
Purchases of common stock for treasury	(21.1		)	(10.9		)
Cash provided by financing activities	962.1			158.9
Effect of exchange rate changes on cash and cash equivalents	(31.5		)	22.4
Change in cash and cash equivalents	(158.5		)	(23.3		)
Cash and cash equivalents, beginning of period	716.0			906.9
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	557.5		$	883.6

See notes to (unaudited) condensed consolidated financial statements.

5

STANLEY BLACK & DECKER, INC. AND SUBSIDIARIES

NOTES TO (UNAUDITED) CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 30, 2013

A. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (hereinafter referred to as “generally accepted accounting principles”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations for the interim periods have been included and are of a normal, recurring nature. Operating results for the three months ended March 30, 2013 are not necessarily indicative of the results that may be expected for a full fiscal year. For further information, refer to the consolidated financial statements and footnotes included in Stanley Black & Decker, Inc.’s (the “Company”) Form 10-K for the year ended December 29, 2012.

In December 2012, the Company sold its Hardware & Home Improvement business ("HHI"), including the residential portion of Tong Lung, to Spectrum Brands Holdings, Inc. ("Spectrum") for approximately $1.4 billion in cash. The purchase and sale agreement stipulated that the sale occur in a First and Second Closing. The First Closing, which excluded the residential portion of the Tong Lung business, occurred on December 17, 2012. The Second Closing occurred on April 8, 2013 in which the residential portion of the Tong Lung business was sold for $93.5 million in cash. The operating results of the residential portion of Tong Lung have been reported as discontinued operations in the Consolidated Statements of Operations and Comprehensive Income for the three months ended March 30, 2013, while the operating results of HHI have been reported as discontinued operations for the three months ended March 31, 2012. Net sales for discontinued operations totaled $22.3 million and $226.8 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Assets and liabilities held for sale relating to the residential portion of the Tong Lung business totaled $83.9 million and $7.7 million, respectively, as of March 30, 2013, and $133.4 million and $30.3 million, respectively, as of December 29, 2012. For further information regarding the HHI divestiture, refer to the Company's Form 10-K for the year ended December 29, 2012.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from these estimates.

B. New Accounting Standards

In February 2013, the Financial Accounting Standards Board ("FASB") issued ASU 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." This standard requires additional disclosures regarding the reporting of reclassifications out of accumulated other comprehensive income (AOCI). This ASU is effective for reporting periods beginning after December 15, 2012. The Company adopted this guidance during the first quarter of 2013.

In July 2012, the FASB issued ASU 2012-02, "Intangibles - Goodwill and Other (Topic 350)" - Testing Indefinite-Lived Intangibles Assets for Impairment (revised standard). The revised standard is intended to reduce the costs and complexity of the annual impairment testing by providing entities an option to perform a "qualitative" assessment to determine whether further impairment testing is necessary. This ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The Company did not early adopt this guidance for its 2012 annual impairment testing. The Company will adopt this guidance for its 2013 annual impairment testing.

In December 2011, the FASB issued guidance enhancing disclosure requirements on the nature of an entity's right to offset and related arrangements associated with its financial and derivative instruments. The new guidance requires the disclosure of the gross amounts subject to rights of set-off, amounts offset in accordance with the accounting standards followed, and the related net exposure. The new disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013 and interim periods therein. The adoption of this guidance did not have a material impact to the Company's consolidated financial statements.

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C. Earnings Per Share

The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate basic and diluted earnings per share for the three months ended March 30, 2013 and March 31, 2012:

	Year-to-Date
	2013			2012
Numerator (in millions):
Net earnings from continuing operations attributable to common shareowners	$	82.0		$	106.3
Net (loss) earnings from discontinued operations	(0.9		)	15.5
Net earnings attributable to common shareowners	$	81.1		$	121.8
Less: Earnings attributable to participating restricted stock units (“RSU’s”)	(0.1		)	(0.2		)
Net Earnings — basic	$	81.0		$	121.6
Net Earnings — dilutive	$	81.1		$	121.8

	Year-to-Date
	2013			2012
Denominator (in thousands):
Basic earnings per share — weighted-average shares	155,552			164,530
Dilutive effect of stock options, awards and convertible preferred units and notes	3,442			4,418
Diluted earnings per share — weighted-average shares	158,994			168,948
Earnings per share of common stock:
Basic earnings per share of common stock:
Continuing operations	$	0.53		$	0.65
Discontinued operations	(0.01		)	0.09
Total basic earnings per share of common stock	$	0.52		$	0.74
Diluted earnings per share of common stock:
Continuing operations	$	0.52		$	0.63
Discontinued operations	(0.01		)	0.09
Total dilutive earnings per share of common stock	$	0.51		$	0.72

The following weighted-average stock options and warrants were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in thousands):

	Year-to-Date
	2013	2012
Number of stock options	995	1,686
Number of stock warrants	—	4,939

During August and September 2012, 4,938,624 stock warrants expired which were associated with the $320.0 million convertible notes that matured in May 2012. No shares were issued upon their expiration as the warrants were out of the money.

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D.     Financing Receivables

Long-term trade financing receivables of $146.4 million at both March 30, 2013 and December 29, 2012 are reported within other assets in the Condensed Consolidated Balance Sheets. Financing receivables and long-term financing receivables are predominately related to certain security equipment leases with commercial businesses. Generally, the Company retains legal title to any equipment leases and bears the right to repossess such equipment in an event of default. All financing receivables are interest bearing and the Company has not classified any financing receivables as held-for-sale. Interest income earned from financing receivables that are not delinquent is recorded on the effective interest method. The Company considers any financing receivable that has not been collected within 90 days of original billing date as past-due or delinquent. Additionally, the Company considers the credit quality of all past-due or delinquent financing receivables as nonperforming.

The Company has an accounts receivable sale program that expires on December 11, 2014. According to the terms of that program the Company is required to sell certain of its trade accounts receivables at fair value to a wholly owned, consolidated, bankruptcy-remote special purpose subsidiary (“BRS”). The BRS, in turn, must sell such receivables to a third-party financial institution (“Purchaser”) for cash and a deferred purchase price receivable. The Purchaser’s maximum cash investment in the receivables at any time is $100.0 million. The purpose of the program is to provide liquidity to the Company. The Company accounts for these transfers as sales under ASC 860 “Transfers and Servicing”. Receivables are derecognized from the Company’s Consolidated Balance Sheets when the BRS sells those receivables to the Purchaser. The Company has no retained interests in the transferred receivables, other than collection and administrative responsibilities and its right to the deferred purchase price receivable. At March 30, 2013, the Company did not record a servicing asset or liability related to its retained responsibility, based on its assessment of the servicing fee, market values for similar transactions and its cost of servicing the receivables sold.

At March 30, 2013 and December 29, 2012, $55.2 million and $80.0 million, respectively, of net receivables were derecognized. Gross receivables sold amounted to $262.0 million ($238.9 million, net) and $257.1 million ($228.3 million, net) for the three months ended March 30, 2013 and March 31, 2012, respectively. These sales resulted in pre-tax losses of $0.6 million for both the three months ended March 30, 2013 and March 31, 2012. Proceeds from transfers of receivables to the Purchaser totaled $192.4 million and $197.4 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Collections of previously sold receivables, including deferred purchase price receivables, and all fees, which are settled one month in arrears, resulted in payments to the Purchaser of $217.1 million and $229.0 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Servicing fees amounted to $0.1 million and less than $0.1 million for the three months ended March 30, 2013 and March 31, 2012, respectively.

The Company’s risk of loss following the sale of the receivables is limited to the deferred purchase price receivable, which was $110.4 million at March 30, 2013 and $45.0 million at December 29, 2012. The deferred purchase price receivable will be repaid in cash as receivables are collected, generally within 30 days, and as such the carrying value of the receivable recorded approximates fair value. There were no delinquencies and credit losses on receivables sold for the three months ended March 30, 2013. Delinquencies and credit losses on receivables sold were less than $0.1 million for the three months ended March 31, 2012. Cash inflows related to the deferred purchase price receivable totaled $73.6 million and $63.5 million for the three months ended March 30, 2013 and March 31, 2012, respectively. All cash flows under the program are reported as a component of changes in accounts receivable within operating activities in the condensed consolidated statements of cash flows since all the cash from the Purchaser is either: 1) received upon the initial sale of the receivable; or 2) from the ultimate collection of the underlying receivables and the underlying receivables are not subject to significant risks, other than credit risk, given their short-term nature.

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E. Inventories

The components of inventories, net at March 30, 2013 and December 29, 2012 are as follows (in millions):

	2013		2012
Finished products	$	1,144.7	$	962.0
Work in process	133.5		124.1
Raw materials	261.5		229.9
Total	$	1,539.7	$	1,316.0

F. Acquisitions

INFASTECH

On February 27, 2013, the Company acquired Infastech for a total purchase price of $826.4 million, net of cash acquired. Infastech designs, manufactures and distributes highly-engineered fastening technologies and applications for a diverse blue-chip customer base in the industrial, electronics, automotive, construction and aerospace end markets. The acquisition of Infastech adds to the Company's strong positioning in specialty engineered fastening, an industry with solid growth prospects, and further expands the Company's global footprint with its strong concentration in fast-growing emerging markets. Infastech is headquartered in Hong Kong and is being consolidated into the Company's Industrial segment.

The Infastech acquisition has been accounted for using the acquisition method of accounting which requires, among other things, the assets acquired and liabilities assumed to be recognized at their fair values as of the acquisition date. The following table summarizes the estimated fair values of major assets acquired and liabilities assumed:

(Millions of Dollars)
Cash and cash equivalents	$	82.0
Accounts and notes receivable, net	118.4
Inventories, net	90.5
Prepaid expenses and other current assets	6.0
Property, plant and equipment	39.8
Trade names	20.0
Customer relationships	380.0
Technology	57.0
Other assets	3.8
Short-term borrowings	(0.2		)
Accounts payable	(98.6		)
Accrued expenses	(32.0		)
Deferred taxes	(125.4		)
Other liabilities	(2.5		)
Total identifiable net assets	$	538.8
Goodwill	369.6
Total consideration transferred	$	908.4

The weighted average useful lives assigned to the trade names, customer relationships, and technology were 15 years, 20 years and 10 years, respectively.

Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the expected cost synergies of the combined business, assembled workforce, and the going concern nature of Infastech.

The purchase price allocation for Infastech is preliminary in all respects. During the measurement period, the Company expects to record adjustments relating to the finalization of intangible valuations, various opening balance sheet contingencies and various income tax matters, amongst others. The Company will complete its purchase price allocation as soon as possible

9

within the measurement period. The finalization of the Company's purchase accounting assessment will result in changes in the valuation of assets acquired and liabilities assumed, which the Company does not expect to be material.

The Company also completed a smaller acquisition within our Security segment during the first quarter of 2013.

2012 ACQUISITIONS

During 2012, the Company completed seven acquisitions for a total purchase price of $696.0 million, net of cash acquired. The largest of these acquisitions were AeroScout Inc. (“AeroScout”), which was purchased for $238.8 million, net of cash acquired, and Powers Fasteners, Inc. (“Powers”), which was purchased for $220.5 million, net of cash acquired. AeroScout develops, manufactures, and sells Real-Time Locating Systems ("RTLS") primarily to healthcare and certain industrial customers. Powers distributes fastening products such as mechanical anchors, adhesive anchoring systems, and powered forced-entry systems, mainly for commercial construction end customers. AeroScout was purchased in the second quarter of 2012 and has been integrated within the Security and Industrial segments. Powers was also purchased in the second quarter of 2012 and is part of the CDIY segment. The combined assets acquired for these acquisitions, including $185.4 million of intangible assets and $7.7 million of cash, was approximately $298.7 million, and the combined liabilities assumed were approximately $108.4 million. The related goodwill associated with these two acquisitions is approximately $276.7 million. The total purchase price for the acquisitions was allocated to the assets acquired and liabilities assumed based on their estimated fair values. The purchase accounting for these acquisitions is substantially complete with the exception of certain minor items.

Five smaller acquisitions were completed during 2012 for a total purchase price of $236.7 million. The largest of these acquisitions were Lista North America (“Lista”), which was purchased for $89.7 million, net of cash acquired, and Tong Lung Metal Industry Co. ("Tong Lung"), which the Company purchased an 89% controlling share for $102.8 million, net of cash acquired, and assumed $20.1 million of short term debt. In January 2013, the Company purchased the remaining outstanding shares of Tong Lung for approximately $12 million. Lista's storage and workbench solutions complement the Industrial & Automotive Repair division's tool, storage, radio frequency identification ("RFID")-enabled systems, and specialty supply product and service offerings. Tong Lung manufactures and sells commercial and residential locksets. The residential portion of the business was part of the December 2012 HHI sale and closed on April 8, 2013. Refer to Note U, Subsequent Events, for further discussion. Lista was purchased in the first quarter of 2012 and is part of the Industrial segment. Tong Lung was purchased in the third quarter of 2012 and is part of the Security segment. The purchase accounting for these acquisitions is complete.

ACTUAL AND PRO-FORMA IMPACT FROM ACQUISITIONS

Actual Impact from Acquisitions

The Company's Consolidated Statements of Operations and Comprehensive Income for the first quarter of 2013 include $48.4 million in net sales and $3.9 million in net losses from 2013 acquisitions. These amounts include amortization relating to inventory step-up and intangible assets recorded upon acquisition.

Pro-forma Impact from Acquisitions

The following table presents supplemental pro-forma information as if the Infastech, AeroScout, Powers, and other 2013 and 2012 acquisitions had occurred on January 2, 2012. This pro-forma information includes acquisition-related charges for the period. The pro-forma consolidated results are not necessarily indicative of what the Company’s consolidated net earnings would have been had the Company completed these acquisitions on January 2, 2012. In addition, the pro-forma consolidated results do not reflect the expected realization of any cost savings associated with the acquisitions.

	Year-to-Date
(Millions of Dollars, except per share amounts)	2013		2012
Net sales	$	2,575.5	$	2,619.8
Net earnings attributable to common shareowners	98.6		106.1
Diluted earnings per share-continuing operations	0.62		0.63

The 2013 pro-forma results were calculated by combining the results of Stanley Black & Decker with the stand-alone results of the 2013 acquisitions for their respective pre-acquisition periods. The following adjustments were made to account for certain costs which would have been incurred during this pre-acquisition period:

• Elimination of the historical pre-acquisition intangible asset amortization expense and the addition of intangible asset amortization expense related to intangibles valued as part of the purchase price allocation that would have been incurred from January 1, 2013 to the acquisition dates, adjusted for the applicable tax impact.

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• Because the 2013 acquisitions were assumed to occur on January 1, 2012, there were no deal costs or inventory step-up amortization factored into the 2013 pro-forma year, as such expenses would have occurred in the first year following the acquisition.

The 2012 pro-forma results were calculated by combining the results of Stanley Black & Decker with the stand-alone results of the 2012 and 2013 acquisitions for their respective pre-acquisition periods. The following adjustments were made to account for certain costs which would have been incurred during this pre-acquisition period:

• Elimination of the historical pre-acquisition intangible asset amortization expense and the addition of intangible asset amortization expense related to intangibles valued as part of the purchase price allocation that would have been incurred from January 1, 2012 to March 31, 2012.

• Additional expense for deal costs and inventory step-up, where applicable, which would have been amortized as the corresponding inventory was sold.

• Reduced revenue for fair value adjustments made to deferred revenue, where applicable.

• Because the 2013 acquisitions were funded using existing sources of liquidity, additional interest expense was factored into the 2012 pro-forma year.

• The modifications above were adjusted for the applicable tax impact.

G. Goodwill

Changes in the carrying amount of goodwill by segment are as follows:

(Millions of Dollars)	CDIY			Industrial			Security			Total
Balance December 29, 2012	$	3,030.5		$	1,394.3		$	2,596.3		$	7,021.1
Addition from acquisitions	1.1			367.8			42.0			410.9
Foreign currency translation	(44.2		)	(31.4		)	(17.5		)	(93.1		)
Balance March 30, 2013	$	2,987.4		$	1,730.7		$	2,620.8		$	7,338.9

H. Long-Term Debt and Financing Arrangements

Long-term debt and financing arrangements at March 30, 2013 and December 29, 2012 follow:

	Interest Rate	2013			2012
Notes payable due 2016	5.75%	325.1			326.8
Notes payable due in 2018 (junior subordinated)	4.25%	632.5			632.5
Notes payable due 2021	3.40%	410.7			417.1
Notes payable due 2022	2.90%	799.3			799.3
Notes payable due 2028	7.05%	164.7			169.6
Notes payable due 2040	5.20%	384.7			404.4
Notes payable due 2052 (junior subordinated)	5.75%	750.0			750.0
Other, payable in varying amounts through 2021	0.00% – 7.14%	37.7			37.2
Total long-term debt, including current maturities		$	3,504.7		$	3,536.9
Less: Current maturities of long-term debt		(10.6		)	(10.4		)
Long-term debt		$	3,494.1		$	3,526.5

At March 30, 2013, the Company's carrying value of the $300.0 million note payable due in 2016 includes $15.0 million associated with fair value adjustments made in purchase accounting as well as $10.1 million pertaining to the unamortized gain on a previously terminated fixed-to-floating interest rate swap.

At March 30, 2013, the Company had a fixed-to-floating interest rate swap on its $400.0 million notes payable due in 2021. The carrying value of the notes payable due in 2021 includes $15.9 million pertaining to the unamortized gain on previously terminated swaps partially offset by $4.9 million pertaining to fair value adjustments of the active swap and $0.3 million unamortized discount on the notes.

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At March 30, 2013, the Company had a fixed-to-floating interest rate swaps on its $150.0 million notes payable due in 2028. The carrying value of the notes payable due in 2028 includes $16.2 million associated with fair value adjustments made in purchase accounting slightly offset by $1.5 million pertaining to fair value adjustment of the swaps.

At March 30, 2013, the Company had a fixed-to-floating interest rate swap on its $400.0 million notes payable due in 2040. The carrying value of the notes payable due in 2040 includes a $15.0 million loss pertaining to the fair value adjustment of the swap and $0.3 million pertaining to unamortized discount on the notes.

Unamortized gains and fair value adjustments associated with interest rate swaps and the impact of terminated swaps are more fully discussed in Note I, Derivative Financial Instruments.

At March 30, 2013, the Company had $1,331.1 million of borrowings outstanding against the Company’s $2.0 billion commercial paper program. At December 29, 2012, the Company had no commercial paper borrowings outstanding.

I.     Derivative Financial Instruments

The Company is exposed to market risk from changes in foreign currency exchange rates, interest rates, stock prices and commodity prices. As part of the Company’s risk management program, a variety of financial instruments such as interest rate swaps, currency swaps, purchased currency options, foreign exchange contracts and commodity contracts are used to mitigate interest rate exposure, foreign currency exposure and commodity price exposure.

Financial instruments are not utilized for speculative purposes. If the Company elects to do so and if the instrument meets the criteria specified in Accounting Standards Codification ("ASC") 815, management designates its derivative instruments as cash flow hedges, fair value hedges or net investment hedges. Generally, commodity price exposures are not hedged with derivative financial instruments and instead are actively managed through customer pricing initiatives, procurement-driven cost reduction initiatives and other productivity improvement projects.

A summary of the fair value of the Company’s derivatives recorded in the Consolidated Balance Sheets at March 30, 2013 and December 29, 2012 follows (in millions):

	Balance Sheet Classification	2013		2012		Balance Sheet Classification	2013		2012
Derivatives designated as hedging instruments:
Interest Rate Contracts Fair Value	Other current assets	20.3		18.5		Accrued expenses	2.1		3.3
	LT other assets	—		6.4		LT other  liabilities	32.8		4.6
Foreign Exchange Contracts Cash Flow	Other current assets	2.4		—		Accrued expenses	1.1		2.6
Net Investment Hedge	Other current assets	42.3		0.2		Accrued expenses	1.6		25.7
		$	65.0	$	25.1		$	37.6	$	36.2
Derivatives not designated as hedging instruments:
Foreign Exchange Contracts	Other current assets	$	32.3	$	73.9	Accrued expenses	$	89.3	$	46.4
	LT other assets	—		—		LT other liabilities	5.1		8.9
		$	32.3	$	73.9		$	94.4	$	55.3

The counterparties to all of the above mentioned financial instruments are major international financial institutions. The Company is exposed to credit risk for net exchanges under these agreements, but not for the notional amounts. The credit risk is limited to the asset amounts noted above. The Company limits its exposure and concentration of risk by contracting with diverse financial institutions and does not anticipate non-performance by any of its counterparties. Further, as more fully discussed in Note M, Fair Value Measurements, the Company considers non-performance risk of its counterparties at each reporting period and adjusts the carrying value of these assets accordingly. The risk of default is considered remote.

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During the first three months of 2013 and 2012, respectively, significant cash flows related to derivatives including those that are separately discussed in Cash Flow Hedges, Fair Value Hedges and Net Investment Hedges below resulted in net cash received of $22.5 million and cash paid of $35.6 million respectively.

CASH FLOW HEDGES

There was an $87.0 million and $93.5 million after-tax loss as of March 30, 2013 and December 29, 2012, respectively, reported for cash flow hedge effectiveness in accumulated other comprehensive loss. An after-tax loss of $11.8 million is expected to be reclassified to earnings as the hedged transactions occur or as amounts are amortized within the next twelve months. The ultimate amount recognized will vary based on fluctuations of the hedged currencies and interest rates through the maturity dates.

The tables below detail pre-tax amounts reclassified from accumulated other comprehensive income (loss) into earnings for active derivative financial instruments during the periods in which the underlying hedged transactions affected earnings for the three months ended March 30, 2013 and March 31, 2012 (in millions):

Year-to-date 2013 (In millions)	Gain (Loss) Recorded in  OCI		Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)			Gain (Loss) Recognized  in Income (Ineffective Portion*)
Foreign Exchange Contracts	$	3.1	Cost of Sales	$	(1.8	)	$	—

Year-to-date 2012 (In millions)	Gain (Loss) Recorded in  OCI			Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)		Gain (Loss) Recognized  in Income (Ineffective Portion*)
Interest Rate Contracts	$	1.4		Interest expense	$	—	$	—
Foreign Exchange Contracts	$	(1.2	)	Cost of sales	$	4.9	—

 * Includes ineffective portion and amount excluded from effectiveness testing on derivatives.

For the three months ended March 30, 2013, the hedged items’ impact to the Consolidated Statement of Operations and Comprehensive Income was a gain of $1.8 million in Cost of Sales, which is offsetting the loss shown above. For the three months ended March 31, 2012, the hedged items’ impact to the Consolidated Statement of Operations and Comprehensive Income was a loss of $4.9 million in Cost of Sales. There was no impact related to the interest rate contracts’ hedged items and the impact of de-designated hedges was immaterial for all periods presented.

For the three months ended March 30, 2013 and March 31, 2012, an after-tax loss of $3.5 million and an after tax gain of $2.3 million respectively, was reclassified from Accumulated other comprehensive income (loss) into earnings (inclusive of the gain/loss amortization on terminated derivative instruments) during the periods in which the underlying hedged transactions affected earnings.

Interest Rate Contract: The Company enters into interest rate swap agreements in order to obtain the lowest cost source of funds within a targeted range of variable to fixed-rate debt proportions. At March 30, 2013, and December 29, 2012, all interest rate swaps designated as cash flow hedges had been terminated.

In December 2009, the Company executed forward starting interest rate swaps with an aggregate notional amount of $400 million fixing 10 years of interest payments at 4.78%. The objective of the hedge was to offset the expected variability on future payments associated with the interest rate on debt instruments. In January 2012, contracts with a total notional amount of $240 million of these contracts were terminated. The terminations resulted in cash payments of $56.4 million, which was recorded in accumulated other comprehensive loss and will be amortized to earnings over future periods. The cash flows stemming from the termination of such interest rate swaps designated as cash flow hedges are presented within financing activities in the Consolidated Statement of Cash Flows.

Foreign Currency Contracts

Forward Contracts: Through its global businesses, the Company enters into transactions and makes investments denominated in multiple currencies that give rise to foreign currency risk. The Company and its subsidiaries regularly purchase inventory from subsidiaries with non-U.S. dollar functional currencies which creates currency-related volatility in the Company’s results of operations. The Company utilizes forward contracts to hedge these forecasted purchases of inventory. Gains and losses reclassified from accumulated other comprehensive loss for the effective and ineffective portions of the hedge as well as any amounts excluded from effectiveness testing are recorded in cost of sales. Gains and losses incurred after a hedge has been de-designated are not recorded in Accumulated other comprehensive income, but are recorded directly to the Consolidated Statement of Operations and

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Comprehensive Income in other-net. At March 30, 2013, the notional value of forward currency contracts outstanding was $124.8 million, all of which was designated, and matures at various dates through 2013. At December 29, 2012, the notional value of forward currency contracts outstanding was $154.0 million, all of which was designated, maturing at various dates through 2013.

Purchased Option Contracts: The Company and its subsidiaries have entered into various inter-company transactions whereby the notional values are denominated in currencies other than the functional currencies of the party executing the trade. In order to better match the cash flows of its inter-company obligations with cash flows from operations, the Company enters into purchased option contracts. Gains and losses reclassified from accumulated other comprehensive income (loss) for the effective and ineffective portions of the hedge as well as any amounts excluded from effectiveness testing are recorded in cost of sales. At March 30, 2013, the notional value of purchased option contracts was $126.0 million maturing at various dates through 2013. As of December 29, 2012, the notional value of purchased option contracts was $173.0 million, maturing at various dates through 2013.

FAIR VALUE HEDGES

Interest Rate Risk: In an effort to optimize the mix of fixed versus floating rate debt in the Company’s capital structure, the Company enters into interest rate swaps. In October 2012, the Company entered into interest rate swaps with notional values which equaled the Company's $400 million3.4% notes due in 2021 and the Company's $400 million5.2% notes due in 2040. In January 2012, the Company entered into interest rate swaps with notional values which equaled the Company's $150 million7.05% notes due in 2028. These interest rate swaps effectively converted the Company's fixed rate debt to floating rate debt based on LIBOR, thereby hedging the fluctuation in fair value resulting from changes in interest rates.

In January 2012, the Company terminated interest rate swaps with notional values equal to the Company’s $300 million4.75% notes due in 2014, $300 million5.75% notes due in 2016, $200 million4.9% notes due in 2012 and $250 million6.15% notes due in 2013. These terminations resulted in cash receipts of $35.8 million. The resulting gain of $28.0 million was deferred and will be amortized to earnings over the remaining life of the notes. In July 2012, the Company repurchased the $250 million6.15% notes due in 2013 and $300 million4.75% notes due 2014 and, as a result, $11.1 million of the previously deferred gain was recognized in earnings at that time.

The changes in fair value of the interest rate swaps during the period were recognized in earnings as well as the offsetting changes in fair value of the underlying notes. The notional value of open contracts was $950 million as of both March 30, 2013 and December 29, 2012. A summary of the fair value adjustments relating to these swaps is as follows (in millions):

	Year-to-Date 2013		Year-to-Date 2012
Income Statement Classification	Gain/(Loss)  on Swaps	Gain /(Loss)  on Borrowings	Gain/(Loss)  on Swaps			Gain /(Loss)  on Borrowings
Interest Expense	$(30.4)	$30.4	$	(2.6	)	$	2.6

In addition to the amounts in the table above, the net swap accruals for each period and amortization of the gains on terminated swaps are also reported as a reduction of interest expense and totaled $6.0 million and $6.6 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Interest expense on the underlying debt was $11.4 million and $9.7 million for the three months ended March 30, 2013 and March 31, 2012, respectively.

NET INVESTMENT HEDGES

Foreign Exchange Contracts: The Company utilizes net investment hedges to offset the translation adjustment arising from re-measurement of its investment in the assets and liabilities of its foreign subsidiaries. The total after-tax amounts in accumulated other comprehensive loss were losses of $26.8 million and $63.3 million at March 30, 2013 and December 29, 2012, respectively. As of March 30, 2013, the Company had foreign exchange contracts that mature at various dates through January 2014 with notional values totaling $956.4 million outstanding hedging a portion of its pound sterling denominated net investment. As of December 29, 2012, the Company had foreign exchange contracts that mature at various dates through October 2013 with notional values totaling $940.6 million outstanding hedging a portion of its pound sterling denominated net investment. For the first three months of 2013, maturing foreign exchange contracts resulted in net cash payments of $9.2 million. For the first three months of 2012, maturing foreign exchange contracts resulted in net cash receipts of $2.0 million. Gains and losses on net investment hedges remain in accumulated other comprehensive income (loss) until disposal of the underlying assets.

The pre-tax gain or loss from year-to-date fair value changed was as follows (in millions):

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	Year-to-Date 2013						Year-to-Date 2012
Income Statement Classification	Amount Recorded in  OCI Gain (Loss)		Effective Portion Recorded in  Income Statement		Ineffective Portion* Recorded in Income Statement		Amount Recorded in  OCI Gain (Loss)			Effective Portion Recorded in  Income Statement		Ineffective Portion* Recorded in Income Statement
Other-net	$	58.8	$	—	$	—	$	(31.8	)	$	—	$	—

 * Includes ineffective portion and amount excluded from effectiveness testing.

UNDESIGNATED HEDGES

Foreign Exchange Contracts: Currency swaps and foreign exchange forward contracts are used to reduce risks arising from the change in fair value of certain foreign currency denominated assets and liabilities (such as affiliate loans, payables and receivables). The objective of these practices is to minimize the impact of foreign currency fluctuations on operating results. The total notional amount of the contracts outstanding at March 30, 2013 was $3.2 billion of forward contracts and $99.4 million in currency swaps, maturing at various dates primarily through January 2014 with the currency swap maturing in December 2014. The total notional amount of the contracts outstanding at December 29, 2012 was $4.3 billion of forward contracts and $105.6 million in currency swaps. The income statement impacts related to derivatives not designated as hedging instruments for 2013 and 2012 are as follows (in millions):

Derivatives Not Designated as Hedging Instruments under ASC 815	Income Statement Classification	Year-to-Date 2013 Amount of Gain (Loss) Recorded in Income on Derivative			Year-to-Date 2012 Amount of Gain (Loss) Recorded in Income on Derivative
Foreign Exchange Contracts	Other-net	$	(60.6	)	$	(8.7	)

J. Equity Arrangements

In January 2013, the Company elected to prepay the forward share purchase contract on its common stock for $362.7 million. This contract obligated the Company to pay $350.0 million, plus an additional amount related to the forward component of the contract, to the financial institution counterparty not later than August 2013, or earlier at the Company’s option, for the 5,581,400 shares purchased. The reduction of common shares outstanding was recorded at the inception of the forward share purchase contract and factored into the calculation of weighted average shares outstanding.

In December 2012, the Company entered into a forward starting accelerated share repurchase (“ASR”) contract with certain financial institutions to purchase $850 million of the Company's common stock. The Company paid $850 million to the financial institutions and received an initial delivery of 9,345,794 shares, which reduced the Company's shares outstanding at December 29, 2012. The value of the initial shares received on the date of purchase was $680 million, reflecting a $72.76 price per share which was recorded as a treasury share purchase for purposes of calculating earnings per share. In accordance with ASC 815-40, the Company recorded the remaining $170 million as a forward contract indexed to its own common stock in additional paid in capital. In April 2013, the Company settled the contract for approximately 1.6 million shares. These shares will be delivered by the financial institutions in the second quarter of 2013 and were determined by the average price per share paid by the financial institutions during the purchase period. The average price is calculated using the volume weighted average price ("VWAP") of the Company's stock (inclusive of a VWAP discount) during that period. For further information, see Note U, Subsequent Events.

In November 2012, the Company purchased from certain financial institutions over the counter “out-of-the-money” capped call options, subject to adjustments for standard anti-dilution provisions, on 10,094,144 shares of its common stock for an aggregate premium of $29.5 million, or an average of $2.92 per share. The purpose of the capped call options is to reduce share price volatility on potential future share repurchases. In accordance with ASC 815-40 the premium paid was recorded as a reduction of Shareowners’ equity. The average lower strike price is $71.43 and the average upper strike price is $79.75, subject to customary market adjustments. The aggregate fair value of the remaining options at March 30, 2013 was $13.1 million. The remaining capped call options were net-share settled in April 2013 for approximately 0.6 million shares. These shares will be delivered by the financial institutions in the second quarter of 2013.

Convertible Preferred Units and Equity Option

As described more fully in Note H, Long-Term Debt and Financing Arrangements, of the Company’s Form 10-K for the year ended December 29, 2012, in November 2010 the Company issued Convertible Preferred Units comprised of $632,500,000 of Notes due November 17, 2018 and Purchase Contracts. There have been no changes to the terms of the Convertible Preferred Units. The Purchase Contracts obligate the holders to purchase, on the earlier of (i) November 17, 2015 (the Purchase Contract

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Settlement date) or (ii) the triggered early settlement date, 6,325,000 shares, for $100 per share, of the Company’s 4.75% Series B Cumulative Convertible Preferred Stock (the “Convertible Preferred Stock”), resulting in cash proceeds to the Company of up to $632.5 million.

Following the issuance of Convertible Preferred Stock upon settlement of a holder’s Purchase Contracts, a holder of Convertible Preferred Stock may, at its option, at any time and from time to time, convert some or all of its outstanding shares of Convertible Preferred Stock at a conversion rate of 1.3333 shares of the Company’s common stock per share of Convertible Preferred Stock (subject to customary anti-dilution provisions), which is equivalent to an initial conversion price of approximately $75.00 per share of common stock. Assuming conversion of the 6,325,000 shares of Convertible Preferred Stock at the 1.3333 initial conversion rate a total of 8,433,123 shares of the Company’s common stock may be issued upon conversion. As of March 30, 2013, due to the customary anti-dilution provisions, the conversion rate on the Convertible Preferred Stock is 1.3501 (equivalent to a conversion price of approximately $74.07 per common share). In the event that holders elect to settle their Purchase Contracts prior to November 17, 2015, the Company will deliver a number of shares of Convertible Preferred Stock equal to 85% of the Purchase Contracts tendered, together with cash in lieu of fractional shares. Upon a conversion on or after November 15, 2015 the Company may elect to pay or deliver, as the case may be, solely shares of common stock, together with cash in lieu of fractional shares (“physical settlement”), solely cash (“cash settlement”), or a combination of cash and common stock (“combination settlement”). The Company may redeem some or all of the Convertible Preferred Stock on or after December 22, 2015 at a redemption price equal to 100% of the $100 liquidation preference per share plus accrued and unpaid dividends to the redemption date.

In November 2010, contemporaneously with the issuance of the Convertible Preferred Units described above, the Company paid $50.3 million, or an average of $5.97 per option, to enter into capped call transactions (equity options) on 8,433,123 shares of common stock with certain major financial institutions. The purpose of the capped call transactions is to offset the common shares that may be deliverable upon conversion of shares of Convertible Preferred Stock. With respect to the impact on the Company, the capped call transactions and the Convertible Preferred Stock, when taken together, result in the economic equivalent of having the conversion price on the Convertible Preferred Stock at $96.73 , the upper strike price of the capped call (as of March 30, 2013). Refer to Note H, Long-Term Debt and Financing Arrangements, and Note J, Capital Stock, of the Company’s Form 10-K for the year ended December 29, 2012 for further discussion. In accordance with ASC 815-40 the $50.3 million premium paid was recorded as a reduction to equity.

The capped call transactions cover, subject to customary anti-dilution adjustments, the number of shares of common stock equal to the number of shares of common stock underlying the maximum number of shares of Convertible Preferred Stock issuable upon settlement of the Purchase Contracts. Each of the capped call transactions has a term of approximately 5 years and initially had a lower strike price of $75.00, which corresponded to the initial conversion price of the Convertible Preferred Stock, and an upper strike price of $97.95, which was approximately 60% higher than the closing price of the common stock on November 1, 2010. The capped call transactions may be settled by net share settlement (the default settlement method) or, at the Company’s option and subject to certain conditions, cash settlement, physical settlement or modified physical settlement. The aggregate fair value of the options at March 30, 2013 was $80.3 million.

K.     Accumulated Other Comprehensive Income (Loss)

The table below sets forth the changes to the components of accumulated other comprehensive income (loss) for the three months ended March 30, 2013 (in millions):

	Currency translation adjustment		Unrealized (losses) gains on cash flow hedges, net of tax		Unrealized (losses) gains on net investment hedges, net of tax		Pension (losses) gains, net of tax		Total
Balance - December 29, 2012	29.4		(93.5	)	(63.3	)	(260.6	)	(388.0	)
Other comprehensive (loss) income before reclassifications	(194.5	)	3.0		36.5		7.5		(147.5	)
Reclassification adjustments to earnings	—		3.5		—		1.8		5.3
Net other comprehensive (loss) income	(194.5	)	6.5		36.5		9.3		(142.2	)
Balance - March 30, 2013	(165.1	)	(87.0	)	(26.8	)	(251.3	)	(530.2	)

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The reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 30, 2013 were as follows (in millions):

Reclassifications from accumulated other comprehensive income (loss) to earnings	Reclassification adjustments	Affected line item in Consolidated Statements of Operations And Comprehensive Income
Realized losses on cash flow hedges	(5.6)	Cost of sales
Tax effect	2.1	Income taxes on continuing operations
Realized losses on cash flow hedges, net of tax	(3.5)
Amortization of defined benefit pension items:
Actuarial losses	(1.6)	Cost of sales
Actuarial losses	(1.0)	Selling, general and administrative
Total before taxes	(2.6)
Tax effect	0.8	Income taxes on continuing operations
Amortization of defined benefit pension items, net of tax	(1.8)

L.     Net Periodic Benefit Cost — Defined Benefit Plans

Following are the components of net periodic benefit cost for the three months ended March 30, 2013 and March 31, 2012 (in millions):

	Year-to-Date
	Pension Benefits												Other Benefits
	U.S. Plans						Non-U.S. Plans						All Plans
	2013			2012			2013			2012			2013			2012
Service cost	$	1.9		$	1.7		$	3.5		$	2.9		$	0.2		$	0.2
Interest cost	13.3			15.5			11.0			11.8			0.6			0.7
Expected return on plan assets	(16.1		)	(16.7		)	(10.5		)	(11.0		)	—			—
Amortization of prior service cost (credit)	0.3			0.2			0.1			0.1			(0.3		)	(0.3		)
Amortization of net loss	1.6			1.5			1.2			0.8			—			—
Curtailment (gain) loss	—			—			(0.1		)	0.3			—			—
Net periodic cost	$	1.0		$	2.2		$	5.2		$	4.9		$	0.5		$	0.6

M. Fair Value Measurements

FASB ASC 820 "Fair Value Measurement" defines, establishes a consistent framework for measuring, and expands disclosure requirements about fair value. ASC 820 requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy:

Level 1 — Quoted prices for identical instruments in active markets.

Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs and significant value drivers are observable.

Level 3 — Instruments that are valued using unobservable inputs.

The Company holds various derivative financial instruments that are employed to manage risks, including foreign currency and interest rate exposures. These financial instruments are carried at fair value and are included within the scope of ASC 820. The Company determines the fair value of derivatives through the use of matrix or model pricing, which utilizes verifiable inputs such as market interest and currency rates. When determining the fair value of these financial instruments for which Level 1 evidence does not exist, the Company considers various factors including the following: exchange or market price quotations of similar instruments, time value and volatility factors, the Company’s own credit rating and the credit rating of the counter-party.

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of the hierarchy levels (millions of dollars):

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	Total Carrying Value		Level 1		Level 2
March 30, 2013:
Money market fund	$	9.7	$	9.7	$	—
Derivative assets	$	97.3	$	—	$	97.3
Derivative liabilities	$	132.0	$	—	$	132.0
December 29, 2012:
Money market fund	$	68.0	$	68.0	$	—
Derivative assets	$	99.0	$	—	$	99.0
Derivative liabilities	$	91.5	$	—	$	91.5

The Company had no financial assets or liabilities measured using Level 3 inputs, nor any assets measured at fair value on a non-recurring basis during 2013 and 2012.

Refer to Note I, Derivative Financial Instruments, for more details regarding derivative financial instruments, and Note H, Long-Term Debt and Financing Arrangements, for more information regarding carrying values of the long-term debt shown below.

The following table presents the carrying values and fair values of the Company's financial assets and liabilities, as well as the Company's debt, as of March 30, 2013 and December 29, 2012 (millions of dollars):

	March 30, 2013				December 29, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current portion	$	3,504.7	$	3,639.1	$	3,536.9	$	3,677.3
Derivative assets	$	97.3	$	97.3	$	99.0	$	99.0
Derivative liabilities	$	132.0	$	132.0	$	91.5	$	91.5

The fair values of long-term debt instruments are considered Level 2 instruments within the fair value hierarchy and are estimated using a discounted cash flow analysis, based on the Company’s marginal borrowing rates. The differences in carrying values in long-term debt are attributable to the stated interest rates differing from the Company's marginal borrowing rates. The fair value of the Company’s variable rate short term borrowings approximate their carrying value at March 30, 2013 and December 29, 2012. The fair values of foreign currency and interest rate swap agreements, comprising the derivative assets and liabilities in the table above, are based on current settlement values.

As discussed in Note D, Financing Receivables, the Company has a deferred purchase price receivable related to sales of trade receivables. The deferred purchase price receivable will be repaid in cash as receivables are collected, generally within 30 days, and as such the carrying value of the receivable approximates fair value.

N. Other Costs and Expenses

Other-net is primarily comprised of intangible asset amortization expense, currency related gains or losses, environmental expense and merger and acquisition-related charges, primarily consisting of transaction costs. During the three months ended March 30, 2013 and March 31, 2012, Other-net included $15.6 million and $10.2 million in merger and acquisition-related costs, respectively.

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O.     Restructuring & Asset Impairments

A summary of the restructuring reserve activity from December 29, 2012 to March 30, 2013 is as follows (in millions):

	12/29/2012		Additions (Reversals), net			Usage			Currency			3/30/2013
2013 Actions
Severance and related costs	$	—	$	21.6		$	(1.6	)	$	(0.5	)	$	19.5
Facility closures	$	—	$	7.2		$	(3.6	)	$	(0.2	)	$	3.4
Asset Impairments	$	—	$	16.5		$	(16.5	)	$	—		$	—
Subtotal 2013 actions	$	—	$	45.3		$	(21.7	)	$	(0.7	)	$	22.9
Pre-2013 Actions
Severance and related costs	$	112.1	$	(2.5	)	$	(17.2	)	$	(2.5	)	$	89.9
Facility closures	13.1		0.1			(0.7		)	—			12.5
Subtotal Pre-2013 actions	$	125.2	$	(2.4	)	$	(17.9	)	$	(2.5	)	$	102.4
Total	$	125.2	$	42.9		$	(39.6	)	$	(3.2	)	$	125.3

In the first three months of 2013, the Company continued with restructuring activities primarily associated with the Black & Decker merger, Niscayah and other acquisitions, and recognized $45.3 million of restructuring charges related to activities initiated in the current year. Of those charges, $21.6 million relates to severance charges associated with the reduction of approximately 250 employees and $7.2 million relates to facility closure costs. The Company also recorded $16.5 million of asset impairment charges.

The majority of the $125.3 million of reserves remaining as of March 30, 2013 is expected to be utilized in 2013.

Segments: The $42.9 million of charges recognized in the first three months of 2013 includes: $1.0 million of net reserve reductions pertaining to the CDIY segment; $24.9 million of charges pertaining to the Security segment; $2.5 million of charges pertaining to the Industrial segment; and $16.5 million pertaining to Corporate charges.

P. Income Taxes

The Company recognized income tax expense of $8.8 million for the three month period ended March 30, 2013, resulting in an effective tax rate of 9.7%. The effective tax rate differs from the U.S. statutory tax rate for the three month period ended March 30, 2013 primarily due to a portion of the Company's earnings realized in lower-taxed foreign jurisdictions, the acceleration of certain tax credits and the favorable impact of the enactment of U.S. tax legislation in January which had retroactive effect on the tax rate.

The Company recognized income tax expense of $29.8 million for the three month period ended March 31, 2012, resulting in an effective tax rate of 22.0%. The effective tax rate differs from the statutory tax rate for the three month period ended March 31, 2012, primarily due to a portion of the Company's earnings realized in lower-taxed foreign jurisdictions.

The Company is subject to the examination of its income tax returns by the Internal Revenue Service and other taxing authorities both domestically and internationally. The final outcome of the future tax consequences of these examinations and legal proceedings, as well as, the outcome of competent authority proceedings, changes and interpretation in regulatory tax laws, or expiration of statute of limitations could impact the Company's financial statements. Accordingly, the Company has tax reserves recorded for which it is reasonably possible that the amount of the unrecognized tax benefit will increase or decrease which could have a material effect on the financial results for any particular fiscal quarter or year. However, based on the uncertainties associated with litigation and the status of examinations, including the protocols of finalizing audits by the relevant tax authorities which could include formal legal proceedings, it is not possible to estimate the impact of any such change.

Q. Business Segments

The Company classifies its business into three reportable segments, which also represent its operating segments: Construction & Do It Yourself (“CDIY”), Security, and Industrial.

The CDIY segment is comprised of the Professional Power Tool business, the Consumer Products Group, the Hand Tools & Storage business, and the Fastening & Accessories business. The Professional Power Tool business sells professional grade corded and cordless electric power tools and equipment including drills, impact wrenches and drivers, grinders, saws, routers and sanders. The Consumer Products Group sells corded and cordless electric power tools sold under the Black & Decker brand, lawn and garden products and home products. The Hand Tools & Storage business sells measuring and leveling tools,

19

planes, hammers, demolition tools, knives, saws and chisels. The Fastening & Accessories business sells pneumatic tools and fasteners including nail guns, nails, staplers and staples, concrete and masonry anchors, as well as power tool accessories which include drill bits, router bits, abrasives and saw blades.

The Security segment is comprised of the Convergent Security Solutions ("CSS") and the Mechanical Access Solutions ("MAS") businesses. The CSS business designs, supplies and installs electronic security systems and provides electronic security services, including alarm monitoring, video surveillance, fire alarm monitoring, systems integration and system maintenance. Purchasers of these systems typically contract for ongoing security systems monitoring and maintenance at the time of initial equipment installation. The business also includes healthcare solutions, which markets medical carts and cabinets, asset tracking, infant protection, pediatric protection, patient protection, wander management, fall management, and emergency call products. The MAS business sells automatic doors, commercial hardware, locking mechanisms, electronic keyless entry systems, keying systems, tubular and mortise door locksets.

The Industrial segment is comprised of the Industrial and Automotive Repair ("IAR"), Engineered Fastening and Infrastructure businesses. The IAR business sells hand tools, power tools, and engineered storage solution products. The Engineered Fastening business primarily sells engineered fastening products and systems designed for specific applications. The product lines include stud welding systems, blind rivets and tools, blind inserts and tools, drawn arc weld studs, engineered plastic and mechanical fasteners, self-piercing riveting systems, precision nut running systems, micro fasteners, and high-strength structural fasteners & plastics. The Infrastructure business consists of the CRC-Evans business and the Company’s Hydraulics business. The product lines include custom pipe handling machinery, joint welding and coating machinery, weld inspection services and hydraulic tools and accessories.

The Company utilizes segment profit, which is defined as net sales minus cost of sales and selling, general, and administrative ("SG&A") inclusive of the provision for doubtful accounts (aside from corporate overhead expense), and segment profit as a percentage of net sales to assess the profitability of each segment. Segment profit excludes the corporate overhead expense element of SG&A, interest income, interest expense, other-net (inclusive of intangible asset amortization expense), restructuring, and income taxes. Refer to Note O, Restructuring & Asset Impairments, for the amount of restructuring charges and asset impairments by segment. Corporate overhead is comprised of world headquarters facility expenses, cost for the executive management team and costs for certain centralized functions that benefit the entire Company but are not directly attributable to the businesses, such as legal and corporate finance functions. Transactions between segments are not material. Segment assets primarily include accounts receivable, inventory, other current assets, property, plant and equipment, intangible assets and other miscellaneous assets.

	Year-to-Date
	2013			2012
NET SALES
CDIY	$	1,192.4		$	1,172.0
Security	599.4			592.1
Industrial	695.4			662.0
Total	$	2,487.2		$	2,426.1
SEGMENT PROFIT
CDIY	$	169.2		$	148.4
Security	55.3			69.8
Industrial	85.5			122.9
Segment profit	310.0			341.1
Corporate overhead	(69.0		)	(66.4		)
Other-net	(71.0		)	(67.9		)
Restructuring charges and asset impairments	(42.9		)	(40.0		)
Interest expense	(39.9		)	(33.9		)
Interest income	3.2			2.5
Earnings from continuing operations before income taxes	$	90.4		$	135.4

During the three months ended March 30, 2013 and March 31, 2012, the Company recorded $13.3 million and $2.3 million, respectively, of merger and acquisition-related charges associated with facility closures, which reduced segment gross profit, and an additional $8.8 million and $9.9 million, respectively, in SG&A primarily for integration costs associated with merger and acquisition-related activities These charges reduced segment profit by $3.3 million in CDIY, $6.4 million in Security and

20

$12.4 million in Industrial for the three months ended March 30, 2013, and $3.3 million in CDIY, $6.9 million in Security, and $2.0 million for Industrial for the three months ended March 31, 2012.

Corporate overhead for the three months ended March 30, 2013 and March 31, 2012 includes $25.5 million and $17.5 million, respectively, of charges pertaining primarily to merger and acquisition-related employee charges and integration costs.

The following table is a summary of total assets by segment as of March 30, 2013 and December 29, 2012:

	March 30, 2013		December 29, 2012
CDIY	$	7,671.1	$	7,437.9
Security	4,494.1		4,728.9
Industrial	4,618.8		3,456.9
	16,784.0		15,623.7
Discontinued Operations	83.9		135.2
Corporate assets	29.6		85.1
Consolidated	$	16,897.5	$	15,844.0

Corporate assets primarily consist of cash, deferred taxes and property, plant and equipment.

R. Commitments and Contingencies

The Company is involved in various legal proceedings relating to environmental issues, employment, product liability, workers’ compensation claims and other matters. The Company periodically reviews the status of these proceedings with both inside and outside counsel, as well as an actuary for risk insurance. Management believes that the ultimate disposition of these matters will not have a material adverse effect on operations or financial condition taken as a whole.

The amount recorded for identified contingent liabilities is based on estimates. Amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. Actual costs to be incurred in future periods may vary from the estimates, given the inherent uncertainties in evaluating certain exposures.

In connection with the 2010 merger with Black & Decker, the Company assumed certain commitments and contingent liabilities. Black & Decker is a party to litigation and administrative proceedings with respect to claims involving the discharge of hazardous substances into the environment. Some of these assert claims for damages and liability for remedial investigations and clean-up costs with respect to sites that have never been owned or operated by Black & Decker but at which Black & Decker has been identified as a potentially responsible party. Other matters involve current and former manufacturing facilities.

The Environmental Protection Agency (“EPA”) and the Santa Ana Regional Water Quality Control Board have each initiated administrative proceedings against Black & Decker and certain of its current or former affiliates alleging that Black & Decker and numerous other defendants are responsible to investigate and remediate alleged groundwater contamination in and adjacent to a 160-acre property located in Rialto, California. The EPA and the cities of Colton and Rialto, as well as Goodrich Corporation, also initiated lawsuits against Black & Decker and certain of its former or current affiliates in the Federal District Court for California, Central District alleging similar claims that Black & Decker is liable under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”), the Resource Conservation and Recovery Act, and state law for the discharge or release of hazardous substances into the environment and the contamination caused by those alleged releases. The City of Colton also has a companion case in California State court. The City of Riverside has a similar suit in California State Court with similar claims and the same parties. Both of these cases are currently stayed for all purposes. Certain defendants in that case have cross-claims against other defendants and have asserted claims against the State of California. The administrative proceedings and the lawsuits generally allege that West Coast Loading Corporation (“WCLC”), a defunct company that operated in Rialto between 1952 and 1957, and an as yet undefined number of other defendants are responsible for the release of perchlorate and solvents into the groundwater basin, and that Black & Decker and certain of its current or former affiliates are liable as a “successor” of WCLC. The Company's settlement discussions among the EPA and numerous other parties progressed throughout late 2012, culminating in the settlement of the EPA's claims against the Company, as well as all other administrative proceedings and lawsuits involving Black & Decker related to the WCLC site, except for the City of Riverside's state court lawsuit. (That lawsuit has been stayed and will, the Company believes, ultimately rendered moot by the implementation of an interim and final remedy at the site.)  This settlement is embodied in a Consent Decree that was filed with the United States District Court for the Central District of California on or about December 4, 2012.  The Consent Decree is a public document, subject to public comment and ultimately, court approval.  In substance, Emhart Industries, Inc. (a dissolved, former indirectly wholly-owned subsidiary of The Black & Decker Corporation) (“Emhart”) has agreed to be responsible for an interim remedy at the site, which remedy will be funded by (i) amounts gathered by EPA from

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multiple parties and placed in trust, and, to the extent necessary, (ii) Emhart's affiliate.  The interim remedy requires the construction of a water treatment facility and the filtering of ground water at or around the Rialto property for a period of approximately 30 years or more.

The EPA has asserted claims in federal court in Rhode Island against certain current and former affiliates of Black & Decker related to environmental contamination found at the Centredale Manor Restoration Project Superfund site, located in North Providence, Rhode Island. The EPA has discovered a variety of contaminants at the site, including but not limited to, dioxins, polychlorinated biphenyls, and pesticides. The EPA alleges that Black & Decker and certain of its current and former affiliates are liable for site clean-up costs under CERCLA as successors to the liability of Metro-Atlantic, Inc., a former operator at the site, and demanded reimbursement of the EPA’s costs related to this site. Black & Decker and certain of its current and former affiliates contest the EPA's allegation that they are responsible for the contamination, and have asserted contribution claims, counterclaims and cross-claims against a number of other potentially responsible parties, including the federal government as well as insurance carriers. The EPA released its Record of Decision ("ROD") in September 2012, which identified and described the EPA's selected remedial alternative for the site. Black & Decker and certain of its current and former affiliates are contesting the EPA's selection of the remedial alternative set forth in the ROD, on the grounds that the EPA's actions were arbitrary and capricious and otherwise not in accordance with law, and have proposed other equally-protective, more cost-effective alternatives. The Company's estimated remediation costs related to this Centredale site (including the EPA’s past costs as well as costs of additional investigation, remediation, and related costs such as EPA’s oversight costs, less escrowed funds contributed by primary potentially responsible parties (PRPs) who have reached settlement agreements with the EPA), which the Company considers to be probable and reasonably estimable, range from approximately $68.1 million to $139.7 million, with no amount within that range representing a more likely outcome until such time as the litigation is resolved through judgment of compromise. The Company’s reserve for this environmental remediation matter of $68.1 million reflects the fact that the EPA considers Metro-Atlantic, Inc. to be a primary source of contamination at the site. As the specific nature of the environmental remediation activities that may be mandated by the EPA at this site have not yet been finally determined through the on-going litigation, the ultimate remedial costs associated with the site may vary from the amount accrued by the Company at March 30, 2013.

In the normal course of business, the Company is involved in various lawsuits and claims. In addition, the Company is a party to a number of proceedings before federal and state regulatory agencies relating to environmental remediation. Also, the Company, along with many other companies, has been named as a PRP in a number of administrative proceedings for the remediation of various waste sites, including 31 active Superfund sites. Current laws potentially impose joint and several liabilities upon each PRP. In assessing its potential liability at these sites, the Company has considered the following: whether responsibility is being disputed, the terms of existing agreements, experience at similar sites, and the Company’s volumetric contribution at these sites.

The Company’s policy is to accrue environmental investigatory and remediation costs for identified sites when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In the event that no amount in the range of probable loss is considered most likely, the minimum loss in the range is accrued. The amount of liability recorded is based on an evaluation of currently available facts with respect to each individual site and includes such factors as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. The liabilities recorded do not take into account any claims for recoveries from insurance or third parties. As assessments and remediation progress at individual sites, the amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. As of March 30, 2013 and December 29, 2012, the Company had reserves of $185.7 million and $188.0 million, respectively, for remediation activities associated with Company-owned properties, as well as for Superfund sites, for losses that are probable and estimable. Of the 2013 amount, $6.3 million is classified as current and $179.4 million as long-term which is expected to be paid over the estimated remediation period. As of March 30, 2013, the Company has recorded an asset of $24.3 million related to funding by EPA and placed in trust in accordance with the Consent Decree associated with WCLC, as previously discussed. Accordingly, the cash obligation as of March 30, 2013 of the Company associated with the aforementioned remediation activities is $161.4 million. The range of environmental remediation costs that is reasonably possible is $138.7 million to $278.3 million which is subject to change in the near term. The Company may be liable for environmental remediation of sites it no longer owns. Liabilities have been recorded on those sites in accordance with policy.

The amount recorded for identified contingent liabilities is based on estimates. Amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. Actual costs to be incurred in future periods may vary from the estimates, given the inherent uncertainties in evaluating certain exposures. Subject to the imprecision in estimating future contingent liability costs, the Company does not expect that any sum it may have to pay in connection with these matters in excess of the amounts recorded will have a materially adverse effect on its financial position, results of operations or liquidity.

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S. Guarantees

The Company’s financial guarantees at March 30, 2013 are as follows (in millions):

(Millions of Dollars)	Term	Maximum Potential Payment		Carrying Amount of Liability
Guarantees on the residual values of leased properties	One to four years	$	26.4	$	—
Standby letters of credit	Up to three years	69.6		—
Commercial customer financing arrangements	Up to six years	17.2		13.2
Total		$	113.2	$	13.2

The Company has guaranteed a portion of the residual value arising from its synthetic lease program. This lease guarantee is for an amount up to $26.4 million while the fair value of the underlying building is estimated at $30.8 million. The related assets would be available to satisfy the guarantee obligations and therefore it is unlikely the Company will incur any future loss associated with this guarantee.

The Company provides various limited and full recourse guarantees to financial institutions that provide financing to U.S. and Canadian Mac Tool distributors for their initial purchase of the inventory and trucks necessary to function as a distributor. In addition, the Company provides limited and full recourse guarantees to financial institutions that extend credit to certain end retail customers of its U.S. Mac Tool distributors. The gross amount guaranteed in these arrangements is $17.2 million and the $13.2 million carrying value of the guarantees issued is recorded in debt and other liabilities as appropriate in the Condensed Consolidated Balance Sheets.

The Company provides product and service warranties which vary across its businesses. The types of warranties offered generally range from one year to limited lifetime, while certain products carry no warranty. Further, the Company sometimes incurs discretionary costs to service its products in connection with product performance issues. Historical warranty and service claim experience forms the basis for warranty obligations recognized. Adjustments are recorded to the warranty liability as new information becomes available.

The changes in the carrying amount of product and service warranties for the three months ended March 30, 2013 and March 31, 2012 are as follows (in millions):

	2013			2012
Balance beginning of period	$	124.0		$	124.9
Warranties and guarantees issued	18.0			20.4
Warranty payments and currency	(24.3		)	(20.7		)
Balance end of period	$	117.7		$	124.6

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T. Parent and Subsidiary Debt Guarantees

The following debt obligations were issued by Stanley Black & Decker, Inc. (“Stanley”) and are fully and unconditionally guaranteed by The Black & Decker Corporation (“Black & Decker”), a 100% owned direct subsidiary of Stanley: 3.40% Notes due 2021; 2.90% Notes due 2022; and the 2040 Term Bonds (collectively, the “Stanley Notes”).

The following note was issued by Black & Decker and is fully and unconditionally guaranteed by Stanley: 5.75% Notes due 2016; (the “Black & Decker Note”).

The Stanley Notes and the Black & Decker Note were issued under indentures attached as Exhibits to the Company’s Annual Report on Form 10-K for the year ended December 29, 2012. The Black & Decker Note and Black & Decker’s guarantee of the Stanley Notes rank equally with all of Black & Decker’s other unsecured and unsubordinated indebtedness. The Stanley guarantee of the Black & Decker Note is an unsecured obligation of the Company, ranking equal in right of payment with all the Company’s existing and future unsecured and unsubordinated indebtedness.

The following tables, in accordance with Rule 3-10(e) of Regulation S-X for the Stanley Notes, and Rule 3-10(c) of Regulation S-X for the Black & Decker Note, present the condensed consolidating statements of operations and comprehensive income for the three months ended March 30, 2013, and March 31, 2012; and the condensed consolidating balance sheets as of March 30, 2013 and December 29, 2012; and the condensed consolidating statements of cash flows for the three months ended March 30, 2013, and March 31, 2012.

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Operations and Comprehensive Income

(Unaudited, Millions of Dollars)

Three Months Ended March 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET SALES	$	311.8		$	—		$	2,261.9		$	(86.5	)	$	2,487.2
COSTS AND EXPENSES
Cost of sales	231.4			—			1,416.2			(71.3		)	1,576.3
Selling, general and administrative	170.8			0.7			513.6			(15.2		)	669.9
Other - net	(20.2		)	(15.5		)	106.7			—			71.0
Restructuring charges and asset impairments	16.5			—			26.4			—			42.9
Interest expense, net	30.3			6.6			(0.2		)	—			36.7
	428.8			(8.2		)	2,062.7			(86.5		)	2,396.8
(Loss) earnings from continuing operations before income taxes (benefit) and equity in earnings of subsidiaries	(117.0		)	8.2			199.2			—			90.4
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	(43.3		)	3.0			49.1			—			8.8
Equity in earnings of subsidiaries	155.7			114.9			—			(270.6		)	—
Earnings from continuing operations	82.0			120.1			150.1			(270.6		)	81.6
Less: net loss attributable to non-controlling interests	—			—			(0.4		)	—			(0.4		)
Net earnings from continuing operations attributable to common shareholders	$	82.0		$	120.1		$	150.5		$	(270.6	)	$	82.0
Net loss from discontinued operations	$	(0.9	)	$	—		$	(0.9	)	$	0.9		$	(0.9	)
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS	$	81.1		$	120.1		$	149.6		$	(269.7	)	$	81.1
Total Comprehensive (Loss) Income Attributable to Common Shareowners	$	(61.1	)	$	26.4		$	(53.1	)	$	26.7		$	(61.1	)

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Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Operations and Comprehensive Income

(Unaudited, Millions of Dollars)

Three Months EndedMarch 31, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET SALES	$	338.4		$	—		$	2,177.7		$	(90.0	)	$	2,426.1
COSTS AND EXPENSES
Cost of sales	220.3			—			1,365.3			(71.5		)	1,514.1
Selling, general and administrative	168.4			6.1			481.3			(18.5		)	637.3
Other - net	(12.9		)	(17.8		)	98.6			—			67.9
Restructuring charges and asset impairments	—			—			40.0			—			40.0
Interest expense, net	20.4			11.7			(0.7		)	—			31.4
	396.2			—			1,984.5			(90.0		)	2,290.7
(Loss) earnings from continuing operations before income taxes and equity in earnings of subsidiaries	(57.8		)	—			193.2			—			135.4
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	(17.9		)	—			47.7			—			29.8
Equity in earnings of subsidiaries	146.2			109.0			—			(255.2		)	—
Earnings from continuing operations	106.3			109.0			145.5			(255.2		)	105.6
Less: net loss attributable to non-controlling interests	—			—			(0.7		)	—			(0.7		)
Net earnings from continuing operations attributable to common shareholders	$	106.3		$	109.0		$	146.2		$	(255.2	)	$	106.3
Net earnings from discontinued operations	$	15.5		$	14.5		$	15.5		$	(30.0	)	$	15.5
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS	$	121.8		$	123.5		$	161.7		$	(285.2	)	$	121.8
Total Comprehensive Income Attributable to Common Shareowners	$	198.7		$	54.0		$	270.0		$	(324.0	)	$	198.7

25

Stanley Black & Decker, Inc.

Condensed Consolidating Balance Sheet

(Unaudited, Millions of Dollars)

March 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	1.0		$	0.3		$	556.2		$	—		$	557.5
Accounts and notes receivable, net	86.0			—			1,696.7			—			1,782.7
Inventories, net	152.6			—			1,387.1			—			1,539.7
Assets held for sale	—			—			83.9						83.9
Other current assets	126.9			—			335.2			—			462.1
Total Current Assets	366.5			0.3			4,059.1			—			4,425.9
Property, plant and equipment, net	200.0			—			1,154.6			—			1,354.6
Goodwill and intangibles, net	148.2			1,412.7			9,118.5			—			10,679.4
Investment in subsidiaries	10,574.1			2,883.8			—			(13,457.9		)	—
Intercompany receivables	—			7,604.9			8,397.4			(16,002.3		)	—
Other assets	55.1			70.1			312.4			—			437.6
Total Assets	$	11,343.9		$	11,971.8		$	23,042.0		$	(29,460.2	)	$	16,897.5
LIABILITIES AND SHAREOWNERS’ EQUITY
Current Liabilities
Short-term borrowings	$	1,330.6		$	—		$	1.3		$	—		$	1,331.9
Current maturities of long-term debt	5.5			2.8			2.3			—			10.6
Accounts payable and accrued expenses	122.9			4.4			2,655.1			—			2,782.4
Liabilities held for sale	—			—			7.7						7.7
Total Current Liabilities	1,459.0			7.2			2,666.4			—			4,132.6
Long-term debt	3,001.2			322.3			170.6			—			3,494.1
Other liabilities	12.7			659.0			1,940.0			—			2,611.7
Intercompany payables	256.3			8,615.2			7,130.8			(16,002.3		)	—
Accumulated other comprehensive loss	(530.2		)	(794.9		)	(336.5		)	1,131.4			(530.2		)
Other shareowners’ equity	7,144.9			3,163.0			11,426.3			(14,589.3		)	7,144.9
Non-controlling interests	—			—			44.4			—			44.4
Total Shareowners’ Equity	6,614.7			2,368.1			11,134.2			(13,457.9		)	6,659.1
Total Liabilities and Shareowners’ Equity	$	11,343.9		$	11,971.8		$	23,042.0		$	(29,460.2	)	$	16,897.5

26

Stanley Black & Decker, Inc.

Condensed Consolidating Balance Sheet

(Millions of Dollars)

December 29, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	83.5		$	1.5		$	631.0		$	—		$	716.0
Accounts and notes receivable, net	111.5			0.7			1,425.4			—			1,537.6
Inventories, net	139.9			—			1,176.1			—			1,316.0
Assets held for sale	—			—			135.2			—			135.2
Other current assets	46.8			—			347.3			—			394.1
Total Current Assets	381.7			2.2			3,715.0			—			4,098.9
Property, plant and equipment, net	217.4			—			1,116.2			—			1,333.6
Goodwill and intangibles, net	148.2			1,415.1			8,392.2			—			9,955.5
Investment in subsidiaries	10,530.1			2,861.9			—			(13,392.0		)	—
Intercompany receivables	—			7,763.2			8,916.7			(16,679.9		)	—
Other assets	57.8			70.1			328.1			—			456.0
Total Assets	$	11,335.2		$	12,112.5		$	22,468.2		$	(30,071.9	)	$	15,844.0
LIABILITIES AND SHAREOWNERS’ EQUITY
Current Liabilities
Short-term borrowings	$	—		$	—		$	1.1		$	—		$	1.1
Current maturities of long-term debt	5.3			2.8			2.3			—			10.4
Accounts payable and accrued expenses	288.6			37.7			2,704.9			—			3,031.2
Liabilities held for sale	—			—			30.9						30.9
Total Current Liabilities	293.9			40.5			2,739.2			—			3,073.6
Long-term debt	3,028.0			324.0			174.5			—			3,526.5
Other liabilities	(54.5		)	619.8			1,951.5			—			2,516.8
Intercompany payables	1,400.7			9,291.8			5,987.4			(16,679.9		)	—
Accumulated other comprehensive loss	(388.0		)	(701.2		)	(133.8		)	835.0			(388.0		)
Other shareowners’ equity	7,055.1			2,537.6			11,689.4			(14,227.0		)	7,055.1
Non-controlling interests	—			—			60.0			—			60.0
Total Shareowners’ Equity	6,667.1			1,836.4			11,615.6			(13,392.0		)	6,727.1
Total Liabilities and Shareowners’ Equity	$	11,335.2		$	12,112.5		$	22,468.2		$	(30,071.9	)	$	15,844.0

27

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Cash Flow

(Unaudited, Millions of Dollars)

Three Months EndedMarch 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash (used in) provided by operating activities	$	(498.5	)	$	(1.7	)	$	352.7		$	—		$	(147.5	)
Investing Activities
Capital expenditures	(9.4		)	—			(70.1		)	—			(79.5		)
Business acquisitions, net of cash acquired	—			—			(853.9		)	—			(853.9		)
Proceeds from sale of assets	—			—			1.0			—			1.0
Intercompany payables and receivables	(877.7		)	(27.8		)	—			905.5			—
Payments on net investment hedge settlements	(9.2		)	—			—			—			(9.2		)
Cash (used in) provided by investing activities	(896.3		)	(27.8		)	(923.0		)	905.5			(941.6		)
Financing Activities
Payments on long-term debt	(0.3		)	—			(0.3		)	—			(0.6		)
Stock purchase contract fees	(0.8		)	—			—			—			(0.8		)
Net short-term borrowings	1,330.4			—			0.1			—			1,330.5
Cash dividends on common stock	(79.1		)	—			—			—			(79.1		)
Payment on forward stock purchase contract	—			—			(350.0		)	—			(350.0		)
Proceeds from the issuance of common stock	83.2			—			—			—			83.2
Purchases of common stock for treasury	(21.1		)	—			—			—			(21.1		)
Intercompany payables and receivables	—			28.3			877.2			(905.5		)	—
Cash provided (used in) by financing activities	1,312.3			28.3			527.0			(905.5		)	962.1
Effect of exchange rate changes on cash and cash equivalents	—			—			(31.5		)	—			(31.5		)
Change in cash and cash equivalents	(82.5		)	(1.2		)	(74.8		)	—			(158.5		)
Cash and cash equivalents, beginning of period	83.5			1.5			631.0			—			716.0
Cash and cash equivalents, end of period	$	1.0		$	0.3		$	556.2		$	—		$	557.5

28

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Cash Flow

(Unaudited, Millions of Dollars)

Three Months EndedMarch 31, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash (used in) provided by operating activities	$	(267.9	)	$	(27.9	)	$	263.5		$	—		$	(32.3	)
Investing Activities
Capital expenditures	(10.3		)	—			(51.2		)	—			(61.5		)
Business acquisitions, net of cash acquired	(93.8		)	—			(20.9		)	—			(114.7		)
Proceeds from sale of assets	0.9			—			1.0			—			1.9
Intercompany payables and receivables	175.4			185.0			—			(360.4		)	—
Proceeds on net investment hedge settlements	—			2.0			—			—			2.0
Cash provided (used in) by investing activities	72.2			187.0			(71.1		)	(360.4		)	(172.3		)
Financing Activities
Payments on long-term debt	(0.3		)	—			—			—			(0.3		)
Stock purchase contract fees	(0.8		)	—			—			—			(0.8		)
Net short-term borrowings (repayments)	196.9			—			(0.1		)	—			196.8
Cash dividends on common stock	(69.9		)	—			—			—			(69.9		)
Termination of interest rate swaps	15.2			20.6			—			—			35.8
Termination of forward starting interest rate swap	(56.4		)	—			—			—			(56.4		)
Proceeds from the issuance of common stock	64.6			—			—			—			64.6
Purchases of common stock for treasury	(10.9		)	—			—			—			(10.9		)
Intercompany payables and receivables	—			(161.4		)	(199.0		)	360.4			—
Cash provided by (used in) financing activities	138.4			(140.8		)	(199.1		)	360.4			158.9
Effect of exchange rate changes on cash and cash equivalents	—			—			22.4			—			22.4
Change in cash and cash equivalents	(57.3		)	18.3			15.7			—			(23.3		)
Cash and cash equivalents, beginning of period	56.2			1.4			849.3			—			906.9
Cash and cash equivalents, end of period	$	(1.1	)	$	19.7		$	865.0		$	—		$	883.6

29

U. Subsequent Events

On April 8, 2013, the Second Closing of the HHI sale was completed in which the residential portion of the Tong Lung business was sold to Spectrum for $93.5 million in cash. The related gain on sale will be finalized and recorded in the second quarter of 2013. The operating results for the residential portion of Tong Lung are reported as discontinued operations for the three months ended March 30, 2013.

On April 25, 2013, the Company settled both its ASR and capped call contracts with certain financial institutions for a total of approximately 2.2 million shares, which will be delivered to the Company in the second quarter of 2013.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion contains statements reflecting the Company's views about its future performance that constitute “forward-looking statements” under the Private Securities Litigation Act of 1995. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Please read the information under the caption entitled “Cautionary Statement under the Private Securities Litigation Reform Act of 1995.”

Throughout this Management's Discussion and Analysis (“MD&A”), references to Notes refer to the notes to the (unaudited) condensed consolidated financial statements in Part 1, Item 1 of this Form 10-Q, unless otherwise indicated.

BUSINESS OVERVIEW

Strategy

The Company is a diversified global provider of power and hand tools, mechanical access solutions (i.e. automatic doors and commercial locking systems), electronic security and monitoring systems, and products and services for various industrial applications. The Company is continuing to pursue a diversification strategy that involves industry, geographic and customer diversification to foster sustainable revenue, earnings and cash flow growth. The Company has four growth platforms: Security, Engineered Fastening, Infrastructure and Healthcare. The Company intends to focus on organic growth across all of its businesses, with the majority of acquisition-related investments being within the four growth platforms. In addition, the Company plans to increase its presence in Emerging Markets, with a goal of generating greater than 20% of annual revenues from these markets by mid-decade.

Refer to the “Strategic Objectives” section of Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Form 10-K for the year ended December 29, 2012 for additional strategic discussions.

Segments

The Company classifies its business into three reportable segments, which also represent its operating segments: Construction & Do-It-Yourself ("CDIY"), Security, and Industrial.

CDIY

The CDIY segment is comprised of the Professional Power Tool business, the Consumer Products Group, which includes outdoor products, the Hand Tools & Storage business, and the Fastening & Accessories business. The segment sells its products to professional end users, distributors and retail consumers. The majority of sales are distributed through retailers, including home centers, mass merchants, hardware stores, and retail lumber yards. Revenues in the CDIY segment were $1.192 billion for the first three months of 2013, representing 48% of the Company’s total revenues.

The Professional Power Tool business sells professional grade corded and cordless electric power tools and equipment including drills, impact wrenches and drivers, grinders, saws, routers and sanders.

The Consumer Products Group sells corded and cordless electric power tools sold under the Black & Decker brand, lawn and garden products and home products. Lawn and garden products include hedge trimmers, string trimmers, lawn mowers, edgers, and related accessories. Home products include hand held vacuums and cleaning appliances.

The Hand Tools & Storage business sells measuring and leveling tools, planes, hammers, demolition tools, knives, saws and chisels. Storage products include tool boxes, sawhorses and storage units.

The Fastening & Accessories business sells pneumatic tools and fasteners including nail guns, nails, staplers and staples, concrete and masonry anchors, as well as power tool accessories which include drill bits, router bits, abrasives and saw blades.

Security

The Security segment is comprised of the Convergent Security Solutions ("CSS") and Mechanical Access Solutions ("MAS") businesses. Revenues in the Security segment were $599 million for the first three months of 2013, representing 24% of the Company’s total revenues.

The CSS business designs, supplies and installs electronic security systems and provides electronic security services, including alarm monitoring, video surveillance, fire alarm monitoring, systems integration and system maintenance. Purchasers of these

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systems typically contract for ongoing security systems monitoring and maintenance at the time of initial equipment installation. The business also sells healthcare solutions, which includes medical carts and cabinets, asset tracking solutions, infant protection, pediatric protection, patient protection, wander management, fall management, and emergency call products. The CSS business sells to consumers, retailers, educational, financial and healthcare institutions, as well as commercial, governmental and industrial customers. Products are sold predominantly on a direct sales basis.

The MAS business sells and installs automatic doors, commercial hardware, locking mechanisms, electronic keyless entry systems, keying systems, tubular and mortise door locksets. MAS sells to commercial customers primarily through direct and independent distribution channels.

Industrial

The Industrial segment is comprised of the Industrial and Automotive Repair ("IAR"), Engineered Fastening and Infrastructure businesses. Industrial segment revenues were $695 million for the first three months of 2013, representing 28% of the Company’s total revenues.

The IAR business sells hand tools, power tools, and engineered storage solution products. The business sells to industrial customers in a wide variety of industries and geographies. The products are distributed through third party distributors as well as a direct sales force.

The Engineered Fastening business primarily sells engineered fastening products and systems designed for specific applications. The product lines include stud welding systems, blind rivets and tools, blind inserts and tools, drawn arc weld studs, engineered plastic and mechanical fasteners, self-piercing riveting systems, precision nut running systems, micro fasteners, and high-strength structural fasteners & plastics. The business sells to customers in the automotive, manufacturing, and aerospace industries, amongst others, and its products are distributed through direct sales forces and, to a lesser extent, third party distributors.

The Infrastructure business consists of CRC-Evans and the Company's Hydraulics businesses. The product lines within the Infrastructure business include custom pipe handling machinery, joint welding and coating machinery, weld inspection services and hydraulic tools and accessories. The business sells to the oil and natural gas pipeline industry and other industrial customers. The products and services are primarily distributed through a direct sales force and, to a lesser extent, third party distributors.

Acquisitions

2013 Acquisitions

During the first three months of 2013, the Company completed two acquisitions for a total purchase price of $836.7 million, net of cash acquired. The largest of these acquisitions was Infastech, which was purchased for $826.4 million, net of cash acquired. Infastech designs, manufactures and distributes highly engineered fastening technologies and applications for a diverse blue-chip customer base in the industrial, electronics, automotive, construction and aerospace end markets. Infastech is headquartered in Hong Kong and is being consolidated into the Company's Engineered Fastening business within the Industrial segment. The Company also purchased InfoCom & Security Systems Pte Ltd. ("ICSS") for $10.3 million, net of cash acquired. ICSS installs, and provides maintenance services for, customized security and communication systems for customers across various sectors in the Singapore, India and Malaysia markets. ICSS is being consolidated into the Company's Security segment.

2012 Acquisitions

During 2012, the Company completed seven acquisitions for a total purchase price of $696.0 million, net of cash acquired. The largest of these acquisitions were AeroScout Inc. ("AeroScout"), which was purchased for $238.8 million, net of cash acquired, and Powers Fasteners, Inc. ("Powers"), which was purchased for $220.5 million, net of cash acquired. AeroScout develops, manufactures, and sells Real-Time Locating Systems ("RTLS") primarily to healthcare and certain industrial customers. Powers distributes fastening products such as mechanical anchors, adhesive anchoring systems, and powered forced-entry systems, mainly for commercial construction end customers. AeroScout has been integrated within the Security and Industrial segments while Powers is part of the CDIY segment.

Five smaller acquisitions were completed during 2012 for a total purchase price of $236.7 million. The largest of these acquisitions were Lista North America ("Lista"), which was purchased for $89.7 million, net of cash acquired, and Tong Lung Metal Industry Co. ("Tong Lung"), which the Company purchased for $114.8 million, net of cash acquired, and assumed $20.1

32

million of short-term debt. Lista's storage and workbench solutions complement the IAR division's tool, storage, radio frequency identification ("RFID")-enabled systems, and specialty supply product and service offerings. Tong Lung manufactures and sells commercial and residential locksets. The residential portion of the business was sold in 2013 in connection with the December 2012 sale of the Hardware & Home Improvement business ("HHI"), which is discussed in further detail below. Lista has been integrated within the Industrial segment while Tong Lung is part of the Security segment.

Divestitures

HHI and Tong Lung Residential Divestiture

In December 2012, the Company sold HHI to Spectrum Brands Holdings, Inc. ("Spectrum") for approximately $1.4 billion in cash. HHI is a provider of residential locksets, residential builders hardware and plumbing products marketed under the Kwikset, Weiser, Baldwin, Stanley, National and Pfister brands. The majority of the HHI business was part of the Company's Security segment, with the remainder being part of the Company's CDIY segment. The divestiture of the HHI business is part of the continued diversification of the Company's revenue streams and geographic footprint consistent with the Company's strategic framework.

The purchase and sale agreement stipulated that the sale occur in a First and Second Closing, for approximately $1.3 billion and $100 million, respectively. The First Closing, which excluded the residential portion of the Tong Lung business, occurred on December 17, 2012. The Second Closing, covering the residential portion of the Tong Lung business, occurred in April 2013. Refer to Note U, Subsequent Events, for further discussion. The operating results of the residential portion of Tong Lung have been reported as discontinued operations for the three months ended March 30, 2013, while the operating results of HHI have been reported as discontinued operations for the three months ended March 31, 2012.

The net proceeds from this divestiture were used to repurchase $850 million of the Company's common stock and for debt reduction, to ensure the Company's leverage ratios remain in its target range. The Company used existing sources of liquidity to fund the Infastech acquisition.

Certain Items Impacting Earnings

Throughout MD&A, the Company has provided a discussion of the outlook and results both inclusive and exclusive of the merger and acquisition-related charges. Merger and acquisition-related charges relate primarily to the Black & Decker merger and the Niscayah and Infastech acquisitions. The amounts and measures, including gross profit and segment profit, on a basis excluding such charges are considered relevant to aid analysis and understanding of the Company’s results aside from the material impact of these charges. In addition, these measures are utilized internally by management to understand business trends, as once the aforementioned anticipated cost synergies from the Black & Decker merger and other acquisitions are realized, such charges are not expected to recur. The merger and acquisition-related charges are as follows:

First Quarter 2013 Merger and Acquisition-Related Charges

The Company reported $106 million in pre-tax charges in the first quarter of 2013, pertaining to merger and acquisition-related charges, which were comprised of the following:

• $13 million reducing Gross Profit pertaining mainly to amortization of the inventory step-up adjustment for the Infastech acquisition;

• $34 million in SG&A primarily for integration-related administrative costs and consulting fees, as well as employee related matters;

• $16 million in Other, net predominately for deal transaction costs; and

• $43 million in restructuring charges primarily for Niscayah-related restructuring charges and cost containment actions associated with the severance of employees.

The tax effect on the above charges during the first quarter of 2013 was $25 million, resulting in after-tax merger and acquisition-related charges of $81 million, or $0.51 per diluted share.

First Quarter 2012 Merger and Acquisition-Related Charges

The Company reported $80 million in pre-tax charges in the first quarter of 2012, pertaining to merger and acquisition-related charges which were comprised of the following:

• $2 million reducing Gross Profit primarily relating to facility closure-related charges;

33

• $28 million in SG&A primarily for integration-related administrative costs and consulting fees, as well as employee related matters;

• $10 million in Other, net predominately for transaction costs; and

• $40 million in restructuring charges primarily for severance and the planned closure of facilities.

The tax effect on the above charges during the first quarter of 2012 was $21 million, resulting in after-tax charges of $59 million, or $0.35 per diluted share.

2013 Outlook

This outlook discussion is intended to provide broad insight into the Company’s near-term earnings and cash flow generation prospects. The Company expects diluted earnings per share to approximate $4.46 to $4.71 in 2013, inclusive of $200 million of pre-tax merger and acquisition-related charges. Excluding such charges, 2013 earnings per dilutive share is expected to be in the range of $5.40 to $5.65. The Company expects free cash flow, excluding merger & acquisition-related charges and payments, to approximate $1.0 billion. The 2013 outlook assumes that organic net sales will increase 2-3% from 2012 driving $0.00 to $0.15 of diluted earnings per share accretion. The core business is expected to grow 1-2% driving $0.15 to $0.30 of diluted earnings per share. Organic growth initiatives are expected to yield an additional 1% revenue growth but will be approximately $0.15 dilutive to earnings per share. The Company expects to realize final cost synergies in 2013 of $50 million related to the Black & Decker merger and an additional $50 million from the Niscayah acquisition, which together should drive approximately $0.46 of EPS. The Infastech acquisition is expected to add $0.20 of EPS accretion in 2013. The share repurchases enacted in 2012 with $850 million of the proceeds from the HHI sale should yield an incremental $0.37 of EPS. Cost containment actions taken in 2012 will have a positive carryover impact of approximately $30 million, or $0.15 of diluted EPS. An increase in tax rates and Interest/Other-net combined is expected to drive headwinds of approximately $0.25 to $0.30 of diluted EPS. The Company expects full year 2013 average diluted shares outstanding to approximate 158.5 million.

As mentioned previously, the Company has decided to intensify its focus on increasing organic growth, concentrated in six major areas during the next few years: (1) increase presence in emerging markets in the Power Tools, Hand Tools and Commercial Hardware mid-price point categories, (2) create a "smart" tools and storage market using radio frequency identification ("RFID") and real-time locating system ("RTLS") technology, (3) leverage the AeroScout RTLS capability into the electronic security market including the acute care vertical within the Company's Healthcare business, (4) expand the Company's market penetration with U.S. government customers in the Healthcare, Security, and Industrial verticals, (5) increase offshore oil and gas pipeline service revenue in the Company's CRC-Evan's business, and (6) continue to identify and realize revenue synergies associated with the Black & Decker Merger. Over the next three years, the Company will invest approximately $150 million ($100 million of recurring operating expense and $50 million of capital) to support these initiatives. The Company expects that investment and achievement in these growth areas will generate approximately $850 million of incremental revenue and $200 million of incremental operating profit over the same three year period and should increase its organic growth 2-3% by 2015, which will allow the Company to achieve its long-term goal of 4-6% organic growth.

RESULTS OF OPERATIONS

Net Sales: Net sales were $2.487 billion in the first quarter of 2013 compared to $2.426 billion in the first quarter of 2012, representing an increase of $61.1 million, or 3%. Acquisitions provided a 4% increase in net sales, which was offset by volume and unfavorable effects of foreign currency translation causing a 1% decrease. In the CDIY segment, organic sales were relatively flat compared to the first quarter of 2012, which was driven by a later start to the outdoor season in North America due to a much colder than average March as well as softer markets in Latin America, which offset growth in many of the emerging markets such as Asia, Russia and Turkey. In the Industrial segment, organic sales fell approximately 1% relative to the first quarter of 2012, as growth in the Infrastructure business from the offshore pipeline business was more than offset by declines in the IAR business. Organic net sales in the Security segment decreased approximately 1% relative to the first quarter of 2012, due to European revenue retraction and volume pressure in the Healthcare business which more than offset growth from CSS North America and the MAS business. From a geographic standpoint, Europe declined 3% organically, while North America remained relatively flat. Emerging markets declined 1% organically as growth of 6% in emerging Asia was more than offset by declines in Latin America and other regions.

Gross Profit: Gross profit was $910.9 million in the first quarter of 2013, compared to $912.0 million in the first quarter of 2012, or 36.6% and 37.6% of net sales for each quarter, respectively. Merger and acquisition-related charges, which reduced gross profit, were approximately $13 million in the first quarter of 2013 and $2 million in the first quarter of 2012. Excluding these merger and acquisition-related charges, gross profit was 37.2% of net sales in 2013 compared to 37.7% of net sales in the

34

prior year. The decrease in the profit rate year over year reflects positive impacts from productivity projects and cost synergies, both of which were more than offset by volume pressures and rate contraction in the CSS business.

SG&A Expenses: SG&A, inclusive of the provision for doubtful accounts, was $669.9 million, or 26.9% of net sales, in the first quarter of 2013 compared to $637.3 million, or 26.3% of net sales, in the first quarter of 2012. Within SG&A, merger and acquisition-related compensation costs and integration-related expenses totaled approximately $34 million and $27 million, respectively, for the first quarter of 2013 and 2012. Excluding these merger and acquisition-related charges, SG&A was 25.6% of net sales in 2013 compared to 25.1% of net sales in the prior year. The increase reflects the impact from organic growth initiatives.

Distribution center costs (i.e. warehousing and fulfillment facility and associated labor costs) are classified within SG&A. This classification may differ from other companies who may report such expenses within cost of sales. Due to diversity in practice, to the extent the classification of these distribution costs differs from other companies, the Company’s gross margins may not be comparable.

Corporate Overhead: The corporate overhead element of SG&A, which is not allocated to the business segments, amounted to $69.0 million, or 2.8% of net sales, in the first quarter of 2013 compared to $66.4 million, or 2.7% of net sales, in the first quarter of 2012. Excluding merger and acquisition-related charges, the corporate overhead element of SG&A was $43.5 million, or 1.7% of net sales, in the first quarter of 2013 compared to $48.9 million, or 2.0% of net sales, in the first quarter of 2012.

Other, net: Other, net expense amounted to $71.0 million in the first quarter of 2013 versus $67.9 million in 2012. The increase primarily pertains to approximately $6 million in incremental merger and acquisition-related expense discussed previously.

Interest, net: Net interest expense in the first quarter of 2013 was $36.7 million versus $31.4 million in the first quarter of 2012. The increase in net interest expense is primarily driven by the debt issuances in the second half of 2012, partially offset by the debt extinguished in the third quarter of 2012.

Income Taxes:The Company recognized income tax expense of $8.8 million for the three month period ended March 30, 2013, resulting in an effective tax rate of 9.7%. The effective tax rate differs from the U.S. statutory tax rate for the three month period ended March 30, 2013 primarily due to a portion of the Company's earnings realized in lower-taxed foreign jurisdictions, the acceleration of certain tax credits and the favorable impact of the enactment of U.S. tax legislation in January which had retroactive effect on the tax rate.

The Company recognized income tax expense of $29.8 million for the three month period ended March 31, 2012, resulting in an effective tax rate of 22.0%. The effective tax rate differs from the statutory tax rate for the three month period ended March 31, 2012, primarily due to a portion of the Company's earnings realized in lower-taxed foreign jurisdictions.

Business Segment Results

The Company’s reportable segments are aggregations of businesses that have similar products, services and end markets, among other factors. The Company utilizes segment profit (which is defined as net sales minus cost of sales and SG&A aside from corporate overhead expense), and segment profit as a percentage of net sales to assess the profitability of each segment. Segment profit excludes the corporate overhead expense element of SG&A, Other-net (inclusive of intangible asset amortization expense), restructuring charges, interest income, interest expense, and income tax expense. Corporate overhead is comprised of world headquarters facility expense, cost for the executive management team and the expense pertaining to certain centralized functions that benefit the entire Company but are not directly attributable to the businesses, such as legal and corporate finance functions. Refer to Note O, Restructuring & Asset Impairments, and Note G, Goodwill, of the Notes to (Unaudited) Condensed Consolidated Financial Statements for the amount of restructuring charges and asset impairments, and intangibles amortization expense, respectively, attributable to each segment. As discussed previously, the Company’s operations are classified into three business segments: CDIY, Security, and Industrial.

CDIY:

	Year-to-Date
(Millions of Dollars)	2013			2012
Net sales	$	1,192.4		$	1,172.0
Segment profit	$	169.2		$	148.4
% of Net sales	14.2		%	12.7		%

35

CDIY net sales increased $20.4 million, or 2%, in 2013 compared to 2012. Organic sales were relatively flat compared to the first quarter of 2012 due to a combination of factors. The strong results in the first quarter of 2013 for professional power tools and consumer products, which were driven by new products and strength in Asia markets, were offset by a later start to the outdoor season due to a much colder than average March in much of North America and softer markets in Latin America. Additionally, organic sales declined within hand tools and fastening and accessories as product expansion for these businesses was more than offset by weakness in the European region. The segment overcame weakness in Europe, Brazil and Columbia through growth in many of the emerging markets such as Asia, Russia and Turkey. Acquisitions contributed 3% of sales growth, which was partially offset by a 1% decline due to unfavorable changes in foreign currency translation.

Segment profit for the first quarter of 2013 was $169.2 million, or 14.2% of net sales, compared to $148.4 million, or 12.7% of net sales, in the first quarter of 2012. Excluding merger and acquisition-related charges of $3.3 million for both periods, segment profit amounted to 14.5% of net sales in the first quarter of 2013, compared to 12.9% of net sales in the first quarter of 2012. The increase in segment profit is attributed to cost synergies, improved productivity in business operations, and timing of certain promotional programs.

Security:

	Year-to-Date
(Millions of Dollars)	2013			2012
Net sales	$	599.4		$	592.1
Segment profit	$	55.3		$	69.8
% of Net sales	9.2		%	11.8		%

Security net sales increased $7.3 million, or 1% in the first quarter of 2013 from $592.1 million in the first quarter of 2012. Both the favorable foreign currency translation and acquisitions increased net sales by 1%, while organic revenue declined 1% as volume decreases were partially offset by pricing increases. From a geographic standpoint, volume declines in Europe were partially offset by stronger end markets in the U.S. CSS experienced modest declines due to weakness in the northern European region which offset gains in the CSS North America business driven by continued steady backlog conversion. The MAS business grew 5% organically due to solid growth in both the commercial mechanical lock business and the automatic door business, which is reflective of improving market conditions, initial success with the distributor business model shift and increased remodeling in the retail channel, respectively.

Segment profit for the first quarter of 2013 was $55.3 million, or 9.2% of net sales, compared to $69.8 million, or 11.8% of net sales, in the first quarter of 2012. Excluding merger and acquisition-related charges of $6.4 million, segment profit amounted to 10.3% of net sales in the first quarter of 2013, compared to 13.0% of net sales in the first quarter of 2012 (excluding $6.9 million in merger and acquisition-related charges). The decline in segment profit is attributed to larger but less profitable installations in CSS North America, pressure from the volume headwinds in the more profitable regions of Europe and temporary negative rate pressure in the commercial lock business due to the business model shift.

Industrial:

	Year-to-Date
(Millions of Dollars)	2013			2012
Net sales	$	695.4		$	662.0
Segment profit	$	85.5		$	122.9
% of Net sales	12.3		%	18.6		%

Industrial sales increased $33.4 million, or 5%, in the first quarter of 2013, from $662.0 million in the first quarter of 2012, primarily driven by the Infastech acquisition which increased sales by 7%. Unfavorable foreign currency translation reduced net sales by 1% and organic revenue declined 1% as volume decreases were partially offset by pricing increases. Organic sales were negatively impacted by a 4% decline in the IAR business due to volume declines in Europe and Latin America, which more than offset growth in Asia, record sales from the annual Mac Tool Fair and successes with the CribMaster vending solutions. The Infrastructure business grew 3% organically, which was primarily driven by growth in the offshore pipeline business. Engineered Fastening was relatively flat on an organic basis as growth in the automotive business was offset by declines within the European industrial fasteners business. Total automotive fastening revenues increased 6%, outpacing light vehicle production which declined 4%.

Industrial segment profit for the first quarter of 2013 was $85.5 million, or 12.3% of net sales, compared to $122.9 million or 18.6% of net sales, in the first quarter of 2012. Excluding $12.4 million in merger and acquisition-related charges, segment

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profit was $97.9 million, or 14.1% of net sales, in the first quarter of 2013 and $124.9 million, or 18.9% of net sales, in the first quarter of 2012 (excluding $2 million in merger and acquisition-related charges). The decrease in segment profit rate is primarily attributed to lower volumes in IAR Europe.

RESTRUCTURING ACTIVITIES

A summary of the restructuring reserve activity from December 29, 2012 to March 30, 2013 is as follows (in millions):

	12/29/2012		Additions (Reversals), net			Usage			Currency			3/30/2013
2013 Actions
Severance and related costs	$	—	$	21.6		$	(1.6	)	$	(0.5	)	$	19.5
Facility closures	—		7.2			(3.6		)	(0.2		)	3.4
Asset Impairments	$	—	$	16.5		$	(16.5	)	$	—		$	—
Subtotal 2013 actions	$	—	$	45.3		$	(21.7	)	$	(0.7	)	$	22.9
Pre-2013 Actions
Severance and related costs	$	112.1	$	(2.5	)	$	(17.2	)	$	(2.5	)	$	89.9
Facility closures	13.1		0.1			(0.7		)	—			12.5
Subtotal Pre-2013 actions	125.2		(2.4		)	(17.9		)	(2.5		)	102.4
Total	$	125.2	$	42.9		$	(39.6	)	$	(3.2	)	$	125.3

In the first three months of 2013, the Company continued with restructuring activities primarily associated with the Black & Decker merger, Niscayah and other acquisitions, and recognized $45.3 million of restructuring charges related to activities initiated in the current year. Of those charges, $21.6 million relates to severance charges associated with the reduction of approximately 250 employees and $7.2 million relates to facility closure costs. The Company also recorded $16.5 million of asset impairment charges.

The majority of the $125.3 million of reserves remaining as of March 30, 2013 is expected to be utilized in 2013.

Segments: The $42.9 million of charges recognized in the first three months of 2013 includes: $1.0 million of net reserve reductions pertaining to the CDIY segment; $24.9 million of charges pertaining to the Security segment; $2.5 million of charges pertaining to the Industrial segment; and $16.5 million pertaining to Corporate charges.

FINANCIAL CONDITION

Liquidity, Sources and Uses of Capital: The Company’s primary sources of liquidity are cash flows generated from operations and available lines of credit under various credit facilities. The Company's cash flows are presented on a consolidated basis and include cash flows from discontinued operations.

Operating Activities: Cash flow used in operations was $147.5 million in the first quarter of 2013 and $32.3 million in the first quarter of 2012. The cash flows from operations were negatively impacted by merger and acquisition-related charges and payments of $83.4 million and $61.5 million in the first quarters of 2013 and 2012, respectively. Outflows from working capital (accounts receivable, inventory, accounts payable and deferred revenue) were $195.0 million in the first quarter of 2013 compared to $152.2 million in the first quarter of 2012. The change was primarily due to the timing of revenue within the first quarter of 2013 resulting in temporary additional working capital pressures. Working capital turns were 6.0 times for the first quarter of 2013, relatively flat to the first quarter of 2012.

Free Cash Flow: Free cash flow, as defined in the following table, was an outflow of $227.0 million in the first quarter of 2013 compared to an outflow of $93.8 million in the corresponding 2012 period. Management considers free cash flow an important indicator of its liquidity, as well as its ability to fund future growth and provide a dividend to shareowners. Free cash flow does not include deductions for mandatory debt service, other borrowing activity, discretionary dividends on the Company’s common stock and business acquisitions, among other items.

	Year to Date
(Millions of Dollars)	2013			2012
Net cash used in operating activities	$	(147.5	)	$	(32.3	)
Less: capital expenditures	(79.5		)	(61.5		)
Free cash flow	$	(227.0	)	$	(93.8	)

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When merger and acquisition-related charges and payments of $94.5 million and $85.1 million for the three months ended March 30, 2013 and March 31, 2012, respectively, are added back to the Company’s free cash flow, the resulting amounts are free cash outflows of $132.5 million and $8.7 million, respectively.

Based on its ability to generate cash flow from operations on an annual basis as well as its strong balance sheet and credit position at March 30, 2013, the Company believes over the long term it has the financial flexibility to deploy capital to its shareowners’ advantage through a combination of acquisitions, dividends, and potential future share repurchases.

Investing Activities: Cash flow used in investing activities was $941.6 million in the first quarter of 2013 compared to $172.3 million in the first quarter of 2012. Capital and software expenditures were $79.5 million (inclusive of $11.1 million for merger and acquisition-related capital expenditures) in the first quarter of 2013, compared to $61.5 million (inclusive of $23.6 million for merger and acquisition-related capital expenditures) of capital expenditures in the first quarter of 2012. The Company continues to invest in productivity and cost structure improvements, as well as achieving merger and acquisition-related cost synergies while ensuring that such investments provide an appropriate return on capital employed.

Cash outflows for business acquisitions were $853.9 million in the first quarter of 2013, which was primarily related to the acquisition of Infastech for $826.4 million, net of cash acquired. Cash outflows for business acquisitions in the first quarter of 2012 were $114.7 million, the majority of which relates to the acquisition of Lista for $89.7 million, net of cash acquired. 

Financing Activities: Cash flow provided by financing activities was $962.1 million in the first quarter of 2013 compared to $158.9 million in the first quarter of 2012. Net proceeds from short-term borrowings under the Company’s commercial paper program increased to $1,330.5 million in the first quarter of 2013 compared to $196.8 million in the first quarter of 2012 primarily as a result of the Infastech acquisition. Cash proceeds from the issuances of common stock were $83.2 million and $64.6 million in the first quarter of 2013 and 2012, respectively. Cash dividends were $79 million in the first quarter of 2013 compared to $70 million in the first quarter of 2012. In January 2013, the Company also elected to prepay the $350.0 million forward share purchase contract. Refer to Note J, Equity Arrangements, for further discussion. During the first quarter of 2012, the Company received $35.8 million from the termination of interest rate swaps, and paid $56.4 million in relation the termination of a forward starting interest rate.

Credit Ratings & Liquidity:

The Company maintains strong investment grade credit ratings from the major U.S. rating agencies on its senior unsecured debt (average A-) as well as its short-term commercial paper borrowings. There have been no changes to any of the ratings during 2013.

Failure to maintain strong investment grade rating levels could adversely affect the Company's cost of funds, liquidity and access to capital markets, but would not have an adverse effect on the Company's ability to access committed credit facilities.

In March 2011, the Company entered into a new four year $1.2 billion committed credit facility (the “Credit Agreement”), which replaced all formerly existing credit facilities. Borrowings under the Credit Agreement may include U.S. Dollars up to the $1.2 billion commitment or in Euro or Pounds Sterling subject to a foreign currency sublimit of $400.0 million and bear interest at a floating rate dependent upon the denomination of the borrowing. Repayments must be made on March 11, 2015 or upon an earlier termination date of the Credit Agreement, at the election of the Company. In July 2012, the Company executed a new $1.0 billion 364 day committed credit facility.  The new facility contains a 1 year term-out provision and borrowings under the Credit Agreement may include U.S. Dollars up to the $1.0 billion commitment or in Euro or Pounds Sterling subject to a foreign currency sublimit of $400.0 million and bear interest at a floating rate dependent upon the denomination of the borrowing.  Repayments must be made by July 12, 2013 or upon an earlier termination date of the Credit Agreement, at the election of the Company, unless the term-out provision is exercised.  The Company has not drawn on either of the commitments provided by the Facilities. These credit facilities are designated to be liquidity backstops for the Company's $2.0 billion commercial paper program.

In the third quarter of 2011, the Company entered into a forward share purchase contract on its common stock, which obligated the Company to pay $350.0 million, plus an additional amount related to the forward component of the contract, to the financial institution counterparty not later than August 2013, or earlier at the Company’s option, for the 5,581,400 shares purchased. The Company elected the early payment option and paid the $362.7 million to the counterparty in January 2013.

On July 25, 2012, the Company issued $750 million of junior subordinated debentures maturing on July 25, 2052 with fixed interest payable quarterly in arrears at a rate of 5.75% per annum. The Company may, at its election, redeem the debentures in

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whole or in part, at par on or after June 25, 2017. The debentures' subordination, long tenor and interest deferral features provide significant credit protection measures for senior creditors and as a result, the debentures were awarded a 50% equity credit by S&P and Fitch, and a 25% equity credit by Moody's. The net proceeds of $729 million from the offering was used for general corporate purposes, including the repayment of short term debt and the refinancing of recent and near term debt maturities.

In the third quarter of 2012, the Company repurchased $900 million of its long term debt via open market tender and exercise of its right under the redemption provision of each notes. The initial funding of the repurchased debt was accomplished by utilizing excess cash on hand and the issuance of Commercial Paper.

Refer to Note H, Long-Term Debt and Financing Arrangements, and Note J, Equity Arrangements, in the Notes to (Unaudited) Condensed Consolidated Financial Statements for further discussion of the Company's financing arrangements.

Cash and cash equivalents totaled $558 million as of March 30, 2013, comprised of $5 million in the U.S. and $553 million in foreign jurisdictions. As of December 29, 2012, cash and cash equivalents totaled $716 million, comprised of $99 million in the U.S. and $617 million in foreign jurisdictions. Concurrent with the Black & Decker merger, the Company made a determination to repatriate certain legacy Black & Decker foreign earnings, on which U.S. income taxes had not previously been provided. As a result of this repatriation decision, the Company has recorded approximately $405.1 million and $436.9 million of associated deferred tax liabilities at March 30, 2013 and December 29, 2012, respectively. Current plans and liquidity requirements do not demonstrate a need to repatriate other foreign earnings. Accordingly, all other undistributed foreign earnings of the Company are considered to be permanently reinvested, or will be remitted substantially free of additional tax, consistent with the Company’s overall growth strategy internationally, including acquisitions and long-term financial objectives. No provision has been made for taxes that might be payable upon remittance of these undistributed foreign earnings. However, should management determine at a later point to repatriate additional foreign earnings, the Company would be required to accrue and pay taxes at that time.

OTHER MATTERS

Critical Accounting Estimates: There have been no significant changes in the Company’s critical accounting estimates during the first quarter of 2013. Refer to the “Other Matters” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Company’s Form 10-K for the year ended December 29, 2012 for a discussion of the Company’s critical accounting estimates.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There has been no significant change in the Company’s exposure to market risk during the first quarter of 2013. Refer to the “Market Risk” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Company’s Form 10-K for the year ended December 29, 2012 for further discussion.

ITEM 4. CONTROLS AND PROCEDURES

Under the supervision and with the participation of management, including the Company’s Chairman and Chief Executive Officer and its Senior Vice President and Chief Financial Officer, the Company has, pursuant to Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), evaluated the effectiveness of the design and operation of its disclosure controls and procedures (as defined under Rule 13a-15(e) of the Exchange Act). Based upon that evaluation, the Company’s Chairman and Chief Executive Officer and its Senior Vice President and Chief Financial Officer have concluded that, as of March 30, 2013, the Company’s disclosure controls and procedures are effective. There has been no change in the Company’s internal control over financial reporting that occurred during the first quarter of 2013 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. In February 2013, the Company acquired Infastech for $826 million, net of cash acquired.  Management's assessment of, and conclusion on, the effectiveness of internal control over financial reporting excludes the internal controls of Infastech. As part of the ongoing integration activities, the Company will complete an assessment of existing controls and incorporate its controls and procedures into Infastech.

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CAUTIONARY STATEMENT

Under the Private Securities Litigation Reform Act of

1995

Certain statements contained in this Quarterly Report on Form 10-Q that are not historical, including, but not limited to, the statements regarding the Company's ability to: (i) achieve full year 2013 diluted EPS of $5.40-5.65, excluding pre-tax M&A related charges and payments, and GAAP EPS of $4.46 - $4.71; (ii) generate approximately $1.0 billion in free cash flow for 2013, excluding M&A related charges and payments; (iii) generate approximately $850 of incremental revenue and $200 million of incremental profit over the next three years associated with the Company's growth initiatives; (iv) generate more than 20% of revenues from emerging markets by mid-decade; and (v) achieve the other strategic objectives outlined in our Annual Report on Form 10-K (collectively, the “Results”); are “forward looking statements” and subject to risk and uncertainty.

The Company's ability to deliver the Results as described above is based on current expectations and involves inherent risks and uncertainties, including factors listed below and other factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. In addition to the risks, uncertainties and other factors discussed elsewhere herein, the risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied in the forward looking statements include, without limitation, those set forth under Item 1A Risk Factors of the Company's Annual Report on Form 10-K and any material changes thereto set forth in any subsequent Quarterly Reports on Form 10-Q, or those contained in the Company's other filings with the Securities and Exchange Commission, and those set forth below.

The Company's ability to deliver the Results is dependent, or based, upon: (i) the Company's ability to achieve $50 million of synergies in 2013 from Black & Decker merger and another $50 million from the acquisition of Niscayah; (ii) the Company's ability to execute its integration plans and achieve synergies from the Infastech acquisition sufficient to generate $0.20 of EPS accretion in 2013; (iii) the Company's ability to generate organic net sales increases of 2-3% in 2013 and 4-6% by 2015; (iv) the Company's ability to identify and execute upon acquisitions and sales opportunities to double its CDIY, IAR and Security businesses in the emerging markets by 2015 while minimizing associated costs; (v) the Company's ability to achieve an average share count for the year of 158.5 million shares; (vi) the Company's ability to achieve a tax rate at the lower end of 23-24% in 2013; (vii) the Company's ability to limit interest expense to approximate $145 million and other-net to approximate $250 million in 2013; (viii) the Company's ability to minimize tax liabilities associated with the HHI divestiture; (ix) successful integration of acquisitions completed in 2012 and any acquisitions completed in 2013, as well integration of existing businesses; (x) the continued acceptance of technologies used in the Company's products and services; (xi) the Company's ability to manage existing Sonitrol franchisee and Mac Tools relationships; (xii) the Company's ability to minimize costs associated with any sale or discontinuance of a business or product line, including any severance, restructuring, legal or other costs; (xiii) the proceeds realized with respect to any business or product line disposals; (xiv) the extent of any asset impairments with respect to any businesses or product lines that are sold or discontinued; (xv) the success of the Company's efforts to manage freight costs, steel and other commodity costs as well as capital expenditures; (xvi) the Company's ability to sustain or increase prices in order to, among other things, offset or mitigate the impact of steel, freight, energy, non-ferrous commodity and other commodity costs and any inflation increases; (xvii) the Company's ability to generate free cash flow and maintain a strong debt to capital ratio; (xviii) the Company's ability to identify and effectively execute productivity improvements and cost reductions, while minimizing any associated restructuring charges; (xix) the Company's ability to obtain favorable settlement of routine tax audits; (xx) the ability of the Company to generate earnings sufficient to realize future income tax benefits during periods when temporary differences become deductible; (xxi) the continued ability of the Company to access credit markets under satisfactory terms; (xxii) the Company's ability to negotiate satisfactory payment terms under which the Company buys and sells goods, services, materials and products; and (xxiii) the Company's ability to successfully develop, market and achieve sales from new products and services.

The Company's ability to deliver the Results is also dependent upon: (i) the success of the Company's marketing and sales efforts, including the ability to develop and market new and innovative products in both existing and new markets; (ii) the ability of the Company to maintain or improve production rates in the Company's manufacturing facilities, respond to significant changes in product demand and fulfill demand for new and existing products; (iii) the Company's ability to continue improvements in working capital through effective management of accounts receivable and inventory levels; (iv) the ability to continue successfully managing and defending claims and litigation; (v) the success of the Company's efforts to mitigate any cost increases generated by, for example, increases in the cost of energy or significant Chinese Renminbi or other currency appreciation; (vi) the geographic distribution of the Company's earnings; (vii) the commitment to and success of the Stanley Fulfillment System; (viii) successful implementation with expected results of cost reduction programs; (ix) successful completion of share repurchases at anticipated costs and (x) the Company's ability to mitigate any disruptions in its supply chain that may occur in the event the situation in North Korea affects shipping or other activities in the region.

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The Company's ability to achieve the Results will also be affected by external factors. These external factors include: challenging global macroeconomic environment; the continued economic growth of emerging markets, particularly Latin America; pricing pressure and other changes within competitive markets; the continued consolidation of customers particularly in consumer channels; inventory management pressures on the Company's customers; the impact the tightened credit markets may have on the Company or its customers or suppliers; the extent to which the Company has to write off accounts receivable or assets or experiences supply chain disruptions in connection with bankruptcy filings by customers or suppliers; increasing competition; changes in laws, regulations and policies that affect the Company, including, but not limited to trade, monetary, tax and fiscal policies and laws; the timing and extent of any inflation or deflation; currency exchange fluctuations; the impact of dollar/foreign currency exchange and interest rates on the competitiveness of products and the Company's debt program; the strength of the U.S. and European economies; the extent to which world-wide markets associated with homebuilding and remodeling stabilize and rebound; the impact of events that cause or may cause disruption in the Company's manufacturing, distribution and sales networks such as war, terrorist activities, and political unrest; and recessionary or expansive trends in the economies of the world in which the Company operates. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof.

PART II — OTHER INFORMATION

ITEM 1A. RISK FACTORS

The Company has reviewed and updated its risk factors from those previously disclosed in the Company’s Form 10-K for the year ended December 29, 2012 filed with the Securities and Exchange Commission on February 20, 2013. Below is the addition to the risk factors previously disclosed.

Risks associated with hostilities involving North Korea

The Company has a number of key suppliers in South Korea. Escalation of hostilities with North Korea and/or military action in the region could cause disruptions in the Company's supply chain which could, in turn, cause product shortages, delays in delivery and/or increases in the Company's cost incurred to produce and deliver products to its customers.

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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuer Purchases of Equity Securities

The following table provides information about the Company’s purchases of equity securities that are registered by the Company pursuant to Section 12 of the Exchange Act during the three months ended March 30, 2013:

2013	(a) Total Number Of Shares Purchased	Average Price Paid Per Share		Total Number Of Shares Purchased As Part Of A Publicly Announced Program	Maximum Number Of Shares That May Yet Be Purchased Under The Program
December 30 – February 2	15,492	$	72.49	—	—
February 3 – March 2	3,211	77.94		—	—
March 3 – March 30	125,849	79.62		—	—
	144,552	$	78.82	—

On July 13, 2012, the Board of Directors approved a new repurchase of up to 20 million shares of the Company's common stock. After the approval, 25.6 million shares of common stock remain authorized for repurchase, of which 5.6 million shares are reserved for purchase in connection with the forward share purchase contract entered into in the second quarter of 2011 (as discussed in Note J, Equity Arrangements). 

(a) The shares of common stock in this column were deemed surrendered to the Company by participants in various benefit plans of the Company to satisfy the participants’ taxes related to vesting or delivery of time-vesting restricted share units under those plans.

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ITEM 6. EXHIBITS

(3.1	)	Amended and Restated ByLaws (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on April 19, 2013).
(10.1	)	The Stanley Black & Decker 2013 Long Term Incentive Plan
(10.2	)	Form of Award Document for Performance Awards granted to Executive Officers under 2013 Long Term Incentive Plan
(11	)	Statement re-computation of per share earnings (the information required to be presented in this exhibit appears in Note C to the Company’s (Unaudited) Condensed Consolidated Financial Statements set forth in this Quarterly Report on Form 10-Q).
(31)(i)(a)		Certification by Chairman and Chief Executive Officer pursuant to Rule 13a-14(a).
(i)(b)		Certification by Vice President and Chief Financial Officer pursuant to Rule 13a-14(a).
(32)(i)		Certification by Chairman and Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(ii)		Certification by President and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(101	)	The following materials from Stanley Black & Decker Inc.'s Quarterly Report on Form 10-Q for the quarter ended March 30, 2013, formatted in XBRL (eXtensible Business Reporting Language); (i) Consolidated Statements of Operations and Comprehensive Income for the three months ended March 30, 2013 and March 31, 2012 (ii) Condensed Consolidated Balance Sheets at March 30, 2013 and December 29, 2012, (iii) Condensed Consolidated Statements of Cash Flows for the three months ended March 30, 2013 and March 31, 2012, and (iv) Notes to (Unaudited) Condensed Consolidated Financial Statements**.

** Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		STANLEY BLACK & DECKER, INC.
Date:	April 26, 2013	By:	/s/    DONALD ALLAN, JR.
			Donald Allan, Jr.
			Senior Vice President and Chief Financial Officer

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EX-10.1

EXHIBIT 10.1

THE STANLEY BLACK & DECKER

2013 LONG-TERM INCENTIVE PLAN

Section 1. Purpose

The purposes of this Stanley Black & Decker 2013 Long-Term Incentive Plan (the “Plan”) are to encourage selected salaried employees of Stanley Black & Decker, Inc. (together with any successor thereto, the “Company”) and selected salaried employees and non-employee directors of its Affiliates (as defined below) to acquire a proprietary interest in the growth and performance of the Company, to generate an increased incentive to contribute to the Company's future success and prosperity, thus enhancing the value of the Company for the benefit of its shareholders, and to enhance the ability of the Company and its Affiliates to attract and retain exceptionally qualified individuals upon whom, in large measure, the sustained progress, growth and profitability of the Company depend.

Section 2. Definitions

As used in the Plan, the following terms shall have the meanings set forth below:

(a) “Affiliate” shall mean (i) any entity that, directly or through one or more intermediaries, is controlled by the Company and (ii) any entity in which the Company has a significant equity interest, as determined by the Committee.

(b) “Award” shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Performance Award, Dividend Equivalent, or Other Stock-Based Award granted under the Plan.

(c) “Award Agreement” shall mean any written agreement, contract, or other instrument or document evidencing any Award granted under the Plan. An Award Agreement may be in an electronic medium.

(d) “Board of Directors” or “Board” shall mean the Board of Directors of the Company.

(e) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.

(f) “Committee” shall mean the Compensation and Organization Committee of the Board.

(g) “Dividend Equivalent” shall mean any right granted under Section 6(e) of the Plan.

(h) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

(i) “Fair Market Value” shall mean (i) with respect to any property other than Shares, the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee and (ii) with respect to Shares, the average of the high and the low price of a Share as quoted on the New York Stock Exchange Composite Tape on the date as of which fair market value is to be determined (or if not then trading on the New York Stock Exchange, on the securities exchange or over-the-counter market on which the Shares are principally trading on such date) or, if there is no trading of Shares on such date, the average of the high and the low price on the next preceding date on which there was such trading. In the event that there is no public market for Shares on the date as of which fair market value is to be determined, the fair market value of Shares shall be as determined in good faith by the Committee.

(j) “Immediate family members” of a Participant shall mean the Participant's child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the employee's household (other than a tenant or employee), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which these persons (or the employee) control the management of assets, and any other entity in which these persons (or the employee) own more than fifty percent of the voting interests.

(k) “Incentive Stock Option” shall mean an option granted under Section 6(a) of the Plan that is intended to meet the requirements of Section 422 of the Code, or any successor provision thereto.

(l) “Non-Employee Director” shall mean any non-employee director of an Affiliate.

(m) “Non-Qualified Stock Option” shall mean an option granted under Section 6(a) of the Plan that is not intended to be an Incentive Stock Option.

(n) “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option, as applicable.

(o) “Other Stock-Based Award” shall mean any right granted under Section 6(f) of the Plan.

(p) “Participant” shall mean a Salaried Employee or Non-Employee Director designated to be granted an Award under the Plan.

(q) “Performance Award” shall mean any Award granted under Section 6(d) of the Plan.

(r) “Person” shall mean any individual, corporation, partnership, association, joint-stock company, trust, unincorporated organization, or government or political subdivision thereof.

(s) “Released Securities” shall mean securities that were Restricted Securities with respect to which all applicable restrictions have expired, lapsed, or been waived.

(t) “Restricted Securities” shall mean securities covered by Awards of Restricted Stock or other Awards under which issued and outstanding Shares are held subject to certain restrictions.

(u) “Restricted Stock” shall mean any Share granted under Section 6(c) of the Plan.

(v) “Restricted Stock Unit” shall mean any right granted under Section 6(c) of the Plan that is denominated in Shares.

(w) “Salaried Employee” shall mean any salaried employee of the Company or of any Affiliate.

(x) “Shares” shall mean shares of the common stock of the Company, par value $2.50 per share, and such other securities or property as may become the subject of Awards, or become subject to Awards, pursuant to an adjustment made under Section 4(b) of the Plan.

(y) “Stock Appreciation Right” shall mean any right granted under Section 6(b) of the Plan.

(z) “2001 Plan” shall mean the Company's 2001 Long-Term Incentive Plan.

(aa) “2009 Plan” shall mean the Company's 2009 Long-Term Incentive Plan.

Section 3. Administration

Except as otherwise provided herein, the Plan shall be administered by the Committee. Subject to the terms of the Plan and applicable law, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be settled or exercised in cash, Shares, other securities, other Awards, or other property, or canceled, forfeited, or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine in accordance with the requirements of Section 409A of the Code whether, to what extent, and under what circumstances cash, Shares, other securities, other Awards, other property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder thereof or of the Committee; (vii) interpret and administer the Plan and any instrument or agreement relating to, or Award made under, the Plan; (viii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it deems appropriate for the proper administration of the Plan; and (ix) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time, and shall be final, conclusive, and binding upon all Persons, including the Company, any Affiliate, any Participant, any holder or beneficiary of any Award, any shareholder, and any employee of the Company or of any Affiliate. All elective deferrals permitted pursuant to this Section 3 shall be accomplished by the delivery of a written, irrevocable election by the Participant on a form provided by the Company. All deferrals shall be made in accordance with administrative guidelines established by the Committee to ensure that such deferrals comply with all applicable requirements of Section 409A of the Code.  The Committee may credit interest, at such rates to be determined by the Committee, on cash payments that are deferred and credit dividends or dividend equivalents on deferred payments denominated in the form of Shares.

Section 4. Shares Available for Awards

(a) Shares Available. Subject to adjustment as provided in Section 4(b):

(i) Calculation of Number of Shares Available. The number of Shares authorized to be issued in connection with the granting of Awards under the Plan is sixteen million (16,000,000). In addition, if any Shares covered by an Award granted under the Plan or by an award granted under the 2009 Plan or the 2001 Plan, or to which such an Award or award relates, are forfeited, or if an Award or award otherwise terminates without the delivery of Shares or of other consideration, then the Shares covered by such Award or award, or to which such Award or award relates, or the number of Shares otherwise counted against the aggregate number of Shares available under the Plan with respect to such Award or award, to the extent of any such forfeiture or termination, shall again be, or shall become available for granting Awards under the Plan. Notwithstanding the foregoing but subject to adjustment as provided in Section 4(b), no more than one million (1,000,000) Shares shall be cumulatively available for delivery pursuant to the exercise of Incentive Stock Options. In the case of any Awards granted under the Plan, (x) each Share with respect to which an Option or stock-settled Stock Appreciation Right is granted under the Plan shall reduce the aggregate number of Shares that may be delivered under the Plan by one Share and (y) each share with respect to which any other Award denominated in Shares is granted under the Plan shall reduce the aggregate number of Shares that may be delivered under the Plan by 3.19 Shares.

(ii) Accounting for Awards. For purposes of this Section 4,

(A) if an Award (other than a Dividend Equivalent) is denominated in Shares, the number of Shares covered by such Award, or to which such Award relates, shall be counted on the date of grant

of such Award against the aggregate number of Shares available for granting Awards under the Plan; and

(B) Dividend Equivalents shall be counted against the aggregate number of Shares available for granting Awards under the Plan, if at all, only in such amount and at such time as the Committee shall determine under procedures adopted by the Committee consistent with the purposes of the Plan; provided, however, that Awards that operate in tandem with (whether granted simultaneously with or at a different time from), or that are substituted for, other Awards or awards granted under the 2009 Plan or the 2001 Plan may be counted or not counted under procedures adopted by the Committee in order to avoid double counting. Any Shares that are delivered by the Company, and any Awards that are granted by, or become obligations of, the Company through the assumption by the Company or an Affiliate of, or in substitution for, outstanding awards previously granted by an acquired company, shall not be counted against the Shares available for granting Awards under the Plan.

(iii) Sources of Shares Deliverable Under Awards. Any Shares delivered pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury Shares or any other Shares.

(b) Adjustments. In the event that the Committee determines that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation split-up, spin-off, combination repurchase, or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event affects the Shares such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or property) which thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other securities or property) subject to outstanding Awards, (iii) the number and type of Shares (or other securities or property) specified as the annual per-participant limitation under Sections 6(g)(vi) and 6(g)(viii), and (iv) the grant, purchase, or exercise price with respect to any Award, or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award; provided, however, in each case, that with respect to Awards of Incentive Stock Options no such adjustment shall be authorized to the extent that such authority would cause the Plan to violate Section 422(b)(1) of the Code or any successor provision thereto; and provided further, however, that the number of Shares subject to any Award denominated in Shares shall always be a whole number.

Section 5. Eligibility

Any Salaried Employee, including any officer or employee-director of the Company or of any Affiliate, and any Non-Employee Director, who is not a member of the Committee shall be eligible to be designated a Participant.

Section 6. Awards

(a) Options. The Committee is hereby authorized to grant Options to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee may determine:

(i) Exercise Price. The purchase price per Share purchasable under an Option shall be determined by the Committee; provided, however, that such purchase price shall not be less than the Fair Market Value of a Share on the date of grant of such Option (or, if the Committee so determines, in the case of any Option retroactively granted in tandem with or in substitution for another Award or any outstanding award granted under any other plan of the Company, on the date of grant of such other Award or award).

(ii) Option Term. The term of each Option shall be fixed by the Committee; provided, however, that in no event shall the term of any Option exceed a period of ten years from the date of its grant.

(iii) Time and Method of Exercise. The Committee shall determine the time or times at which an Option may be exercised in whole or in part, and the method or methods by which, and the form or forms, including cash, Shares, other Awards, or other property, or any combination thereof, having a Fair Market Value on the exercise date equal to the relevant exercise price, in which, payment of the exercise price with respect thereto may be made or deemed to have been made.

(iv) Incentive Stock Options. The terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code, or any successor provision thereto, and any regulations promulgated thereunder. If any Participant shall make any disposition of Shares delivered pursuant to the exercise of an Incentive Stock Option under the circumstances described in Section 421(b) of the Code (relating to certain disqualifying dispositions) or any successor provision of the Code, such Participant shall notify the Company of such disposition within ten days thereof.

(v) Transferability. An Option shall not be transferable other than by will or the laws of descent and distribution or pursuant to a domestic relations order, as defined in the Code, and, during the Participant's lifetime, shall be exercisable only by the Participant, except that the Committee may:

(A) permit exercise, during the Participant's lifetime, by the Participant's guardian or legal representative; and

(B) permit transfer, upon the Participant's death, to beneficiaries designated by the Participant in a manner authorized by the Committee, provided that the Committee determines that such exercise and such transfer are consonant with requirements for exemption from Section 16(b) of the Exchange Act and, with respect to an Incentive Stock Option, the requirements of Section 422(b)(5) of the Code; and

(C) grant Non-Qualified Stock Options that are transferable, or amend outstanding Non-Qualified Stock Options to make them so transferable, without payment of consideration, to Immediate Family of the Participant.

(b) Stock Appreciation Rights. The Committee is hereby authorized to grant Stock Appreciation Rights to Participants. Subject to the terms of the Plan and any applicable Award Agreement, a Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive in cash or Shares, at the Company's sole discretion, upon exercise thereof, the excess of (i) the Fair Market Value of one Share on the date of exercise over (ii) the grant price of the right as specified by the Committee, which shall not be less than the Fair Market Value of one Share on the date of grant of the Stock Appreciation Right (or, if the Committee so determines, in the case of any Stock Appreciation Right retroactively granted in tandem with or in substitution for another Award or any outstanding award granted under any other plan of the Company, on the date of grant of such other Award or award). Subject to the terms of the Plan and any applicable Award Agreement, the grant price, term, methods of exercise, methods of settlement, and any other terms and conditions of any Stock Appreciation Right shall be as determined by the Committee; provided that no Stock Appreciation Right shall be exercisable more than ten years from the date of grant. The Committee may impose such conditions or restrictions on the exercise of any Stock Appreciation Right as it may deem appropriate.

(c) Restricted Stock and Restricted Stock Units.

(i) Issuance. The Committee is hereby authorized to grant Awards of Restricted Stock and Restricted Stock Units to Participants.

(ii) Restrictions. Shares of Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Committee may impose (including any limitation on the right to vote a Share of Restricted Stock or the right to receive any dividend or other right or property), which restrictions, subject to Section 6(e), may lapse separately or in combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate.

(iii) Registration. Any Restricted Stock granted under the Plan may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance of a stock certificate or certificates. In the event any stock certificate is issued in respect of Shares of Restricted Stock granted under the Plan, such certificate shall be registered in the name of the Participant and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock.

(iv) Forfeiture. Except as otherwise determined by the Committee, upon termination of employment (as determined under criteria established by the Committee) for any reason during the applicable restriction period, all Shares of Restricted Stock and all Restricted Stock Units still, in either case, subject to restriction, shall be forfeited and reacquired by the Company; provided, however, that the Committee may, when it finds that a waiver would be in the best interests of the Company, waive in whole or in part any or all remaining restrictions with respect to Shares of Restricted Stock or Restricted Stock Units. Unrestricted Shares, evidenced in such manner as the Committee shall deem appropriate, shall be delivered to the holder of Restricted Stock promptly after such Restricted Stock shall become Released Securities.

(v) Restricted Stock Units. Notwithstanding anything to the contrary in the Plan or in any Award Agreement, Restricted Stock Units shall be subject to the following requirements. Unless previously forfeited, and subject to Section 10(b), Restricted Stock Units shall be settled on the 30^th day following the earliest of (I) the applicable vesting date set forth in the Award Agreement, (II) the Participant's death, (III) the Participant's separation from service within the meaning of Section 409A of the Code after attaining the age of 55 and completing 10 years of service or as a result of a disability within the meaning of Section 22(e)(3) of the Code. If the Committee reasonably anticipates that making a payment in respect of Restricted Stock Units may violate Federal securities laws or other applicable law, such payment may be delayed and made in accordance with Section 409A of the Code and Section 1.409A‑2(b)(7)(ii) of the Treasury Regulations thereunder.

(d) Performance Awards. The Committee is hereby authorized to grant Performance Awards to Participants. Subject to the terms of the Plan and any applicable Award Agreement, a Performance Award granted under the Plan (i) may be denominated or payable in cash, Shares (including Restricted Stock), other securities, other Awards, or other property and (ii) shall confer on the holder thereof rights valued as determined by the Committee and payable to, or exercisable by, the holder of the Performance Award, in whole or in part, upon the achievement of such performance goals during such performance periods as the Committee shall establish.

Performance goals shall be based on one or more, or a combination, of the following criteria, determined in accordance with generally accepted accounting principles, where applicable: (i) pre-tax income or after-tax income; (ii) earnings, including operating income, earnings before or after taxes, earnings before or after interest, depreciation, amortization, or extraordinary or special items; (iii) net income, excluding amortization of intangible assets, depreciation and impairment of goodwill and intangible assets; (iv) operating income; (v) earnings or book value per share (basic or diluted); (vi) return on assets (gross or net), return on investment, return on capital, or return on equity; (vii) return on revenues; (viii) net tangible assets (working capital plus property, plants and equipment) or return on net tangible assets (operating income divided by average net tangible assets) or working capital; (ix) operating cash flow (operating income plus or minus changes in working capital less capital expenditures); (x) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (xi) sales or sales growth; (xii) operating margin or profit margin; (xiii) share price or total shareholder return; (xiv) earnings from continuing operations; (xv) cost targets, reductions or savings, productivity or efficiencies; (xvi) economic value added; and (xvii) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration or market share, geographic business expansion, customer satisfaction, employee satisfaction, human resources management, financial management, project management, supervision of litigation, information technology, or goals relating to divestitures, joint ventures or similar transactions.

Where applicable, the performance goals may be described in terms of Company-wide objectives or objectives that are related to the performance of the individual Participant or of the subsidiary, Affiliate, division, department, business unit, region, function or other organizational unit within the Company, subsidiary or Affiliate in which the Participant is employed. The performance goals may be made relative to the performance of other companies or subsidiaries, divisions, departments, business units, regions, functions or other organizational units within such other companies, and may be made relative to an index or one or more of the performance goals themselves, all as determined by the Committee. The performance goals may include a threshold level of performance below which no payment will be made (or no vesting will occur), levels of performance at which specified payments will be paid (or specified vesting will occur) and a maximum level of performance above which no additional payment will be made (or at which full vesting will occur).

Subject to the terms of the Plan and any applicable Awards Agreement, the performance goals to be achieved during any performance period, the length of any performance period, the amount of any Performance Award granted, and the amount of any payment or transfer to be made pursuant to any Performance Award shall be determined by the Committee.

(e) Dividend Equivalents. The Committee is hereby authorized to grant to Participants Awards (other than Awards in respect of Options and Stock Appreciation Rights) under which the holders thereof shall be entitled to receive payments equivalent to dividends or interest with respect to a number of Shares determined by the Committee, and the Committee may provide that such amounts (if any) shall be deemed to have been reinvested in additional Shares or otherwise reinvested.Dividend Equivalents credited in respect of an Award (including any Performance Award) will vest (or be forfeited) and will settle at the same time as the underlying Award to which they relate.Subject to the terms of the Plan and any applicable Awards Agreement, such Awards may have such additional terms and conditions as the Committee may determine.

(f) Other Stock-Based Awards. The Committee is hereby authorized to grant to Participants such other Awards that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including securities convertible into Shares), as are deemed by the Committee to be consistent with the purposes of the Plan; provided, however, that such grants must comply with applicable law. Subject to the terms of the Plan and any applicable Award Agreement, the Committee shall determine the terms and conditions of such Awards. Shares or other securities delivered pursuant to a purchase right granted under this Section 6(f) shall be purchased for such consideration, which may be paid by such method or methods and in such form or forms, including cash, Shares, other securities, other Awards, or other property, or any combination thereof, as the Committee shall determine, the value of which consideration, as established by the Committee, shall not be less than the Fair Market Value of such Shares or other securities as of the date such purchase right is granted (or, if the Committee so determines, in the case of any such purchase right retroactively granted in tandem with

or in substitution for another Award or any outstanding award granted under any other plan of the Company, on the date of grant of such other Award or award).

(g) General.

(i) No Cash Consideration for Awards. Awards may be granted for no cash consideration or for such minimal cash consideration as may be required by applicable law.

(ii) Awards May Be Granted Separately or Together. Awards may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution for any other Award or any awards granted under any other plan of the Company or any Affiliate. Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards granted under any other plan of the Company or any Affiliate, may be granted either at the same time as or at a different time from the grant of such other Awards or awards.

(iii) Forms of Payment Under Awards. Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant, exercise, or payment of an Award may be made in such form or forms as the Committee shall determine, including cash, Shares, other securities, other Awards, or other property, or any combination thereof, and may be made in a single payment or transfer, in installments, or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of Dividend Equivalents in respect of installment or deferred payments.

(iv) Limits on Transfer of Awards. Except as provided in Section 6(a) above regarding Options, no Award (other than Released Securities), and no right under any such Award, shall be assignable, alienable, saleable, or transferable by a Participant otherwise than by will or by the laws of descent and distribution or pursuant to a qualified domestic relations order, as defined in the Code (or, in the case of an Award of Restricted Securities, to the Company); provided, however, that, if so determined by the Committee, a Participant may, in the manner established by the Committee, designate a beneficiary or beneficiaries to exercise the rights of the Participant, and to receive any property distributable, with respect to any Award upon the death of the Participant. Each Award, and each right under any Award, shall be exercisable, during the Participant's lifetime, only by the Participant or, if permissible under applicable law, by the Participant's guardian or legal representative. No Award (other than Released Securities), and no right under any such Award, may be pledged, alienated, attached, or otherwise encumbered, and any purported pledge, alienation, attachment, or encumbrance thereof shall be void and unenforceable against the Company or any Affiliate. Except as permitted under Section 409A of the Code, any deferred compensation (within the meaning of Section 409A of the Code) payable to Participant or for a Participant's benefit under this Plan and Awards hereunder may not be reduced by, or offset against, any amount owing by a Participant to the Company or any Affiliate.

(v) Terms of Awards. Except as otherwise specified in the Plan, the Term of each Award shall be for such period as may be determined by the Committee. Notwithstanding the foregoing, in no event shall the term of any Incentive Stock Option exceed a period of ten years from the date of its grant.

(vi) Per-Person Limitation on Options and SARs. The number of Shares with respect to which Options and SARs may be granted under the Plan to an individual Participant in any consecutive three-year period shall not exceed four million (4,000,000) Shares, subject to adjustment as provided in Section 4(b).

(vii) Share Certificates. All certificates for Shares or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Shares or other securities are then listed, and any applicable Federal or state securities laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

(viii) Maximum Payment Amount. The maximum fair market value of payments to any executive officer made in connection with any long-term performance awards (except for payments made in connection with Options or Stock Appreciation Rights) granted under the Plan shall not, during any three-year period, exceed four percent of the Company's shareholders' equity as of the end of the year immediately preceding the commencement of such three-year period.

Section 7. Amendment and Termination

Except to the extent prohibited by applicable law and unless otherwise expressly provided in an Award Agreement or in the Plan:

(a) Amendments to the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan or any Award (and the related Award Agreement), including any amendment, alteration, suspension, discontinuation, or termination that would impair the rights of any Participant, or any other holder or beneficiary of any Award theretofore granted, without the consent of any shareholder, Participant, other holder or beneficiary of an Award, or other Person; provided, however, that, other than as contemplated by Section 9 or with the written consent of each affected Participant, no such action may impair the rights of any Participant if such action is taken in connection with or following a Change in Control (as defined below); and provided further, however, that, notwithstanding any other provision of the Plan or any Award Agreement, without the approval of the shareholders of the Company no such amendment, alteration, suspension, discontinuation, or termination shall be made that would:

(i) increase the total number of Shares available for Awards under the Plan, except as provided in Section 4 hereof; or

(ii) permit Options, Stock Appreciation Rights, or Other Stock-Based Awards encompassing rights to purchase Shares to be granted with per Share grant, purchase, or exercise prices of less than the Fair Market Value of a Share on the date of grant thereof, except to the extent permitted under Sections 4(b), 6(a), 6(b), or 6(f) hereof.

(b) Adjustments of Awards Upon Certain Acquisitions. In the event the Company or any Affiliate shall assume outstanding employee awards or the right or obligation to make future awards in connection with the acquisition of another business or another corporation or business entity, the Committee may make such adjustments, not inconsistent with the terms of the Plan, in the terms of Awards as it shall deem appropriate in order to achieve reasonable comparability or other equitable relationship between the assumed awards and the Awards granted under the Plan as so adjusted.

(c) Adjustments of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee shall be authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including the events described in Section 4(b) hereof) affecting the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits to be made available under the Plan; provided that such adjustments shall be consistent with the requirements of Section 162(m) of the Code with regard to Awards subject to Section 162(m) of the Code.

(d) Certain Adjustments of Awards Not Permitted. Except in connection with an event or transaction described in subsections (b) or (c) of this Section 7 or Section 4(b), the terms of outstanding Awards may not be amended to reduce the purchase price per Share purchasable under an Option or the grant price of Stock Appreciation Rights, or to cancel outstanding Options or Stock Appreciation Rights in exchange for cash, other Awards or Options or Stock Appreciation Rights with a purchase price per share or grant price, as applicable, that is less than the purchase price per share or grant price of the original Options or Stock Appreciation Rights, as applicable, without shareholder approval.

(e) Correction of Defects, Omissions and Inconsistencies. The Committee may correct any defect, supply any omission, or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem desirable to carry the Plan or such Award into effect.

Section 8. General Provisions

(a) No Rights to Awards. No Salaried Employee, Participant or other Person shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Salaried Employees, Participants, or holders or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to each recipient.

(b) Delegation. The Committee may delegate to one or more officers or managers of the Company or any Affiliate, or a committee of such officers or managers, the authority, subject to such terms and limitations as the Committee shall determine, to grant Awards to, or to cancel, modify, waive rights with respect to, alter, discontinue, suspend or terminate Awards held by, Salaried Employees who are not officers of the Company for purposes of Section 16 of the Exchange Act.

(c) Withholding. The Company or any Affiliate shall be authorized to withhold from any Award granted or any payment due or transfer made under any Award or under the Plan the minimum amount (in cash, Shares, other securities, other Awards, or other property) of withholding taxes due in respect of an Award, its exercise, or any payment or transfer under such Awards or under the Plan and to take such other action as may be necessary in the opinion of the Company or Affiliate to satisfy all obligations for the payment of such taxes.

(d) No Limit on Other Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting or continuing in effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases.

(e) No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of the Company or any Affiliate. Further, the Company or an Affiliate may at any time dismiss a Participant from employment, free from any liability, or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement.

(f) Governing Law. The validity, construction and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with the laws of the State of Connecticut and applicable Federal law.

(g) Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person, or Award, and the remainder of the Plan and any such Award shall remain in full force and effect.

(h) No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate.

(i) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled, terminated, or otherwise eliminated.

(j) Headings. Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.

(k) Construction. For purposes of the Plan, the terms “include,” “includes” and “including” shall mean such terms without limitation.

Section 9. Change in Control

(a) In the event of a Change in Control, unless otherwise set forth in an Award Agreement or provided in an individual severance or employment agreement to which the applicable Participant is a party, the following acceleration, exercisability and valuation provisions will apply:

(i) Upon a Change in Control, each then-outstanding Option and Stock Appreciation Right will become fully vested and exercisable and the restrictions applicable to each outstanding Award of Restricted Stock or Restricted Stock Units, Performance Award, Dividend Equivalent or Other Stock-Based Award will lapse and such Award will be fully vested (with any applicable performance goals deemed to have been achieved at a target level as of the date of such vesting), except to the extent that an award meeting the requirements of Section 9(a)(ii) (a “Replacement Award”) is provided to the Participant holding such Award in accordance with Section 4(b) of the Plan to replace or adjust such outstanding Award (a “Replaced Award”). For the avoidance of doubt, if all Awards hereunder are terminated without any Replacement Awards or Replaced Awards, then the Company or its successor in the Change in Control may terminate all Awards whose exercise price is less than or equal to the value per Share realized in connection with the Change in Control (without any consideration therefor).

(ii) An award meets the conditions of this Section 9(a)(ii) (and hence qualifies as a Replacement Award) if (A) it is of the same type (e.g., stock option for Option, restricted stock for Restricted Stock, restricted stock unit for Restricted Stock Unit, etc.) as the Replaced Award, (B) it has a value at least equal to the value of the Replaced Award, (C) it relates to publicly traded equity securities of the Company or its successor in the Change in Control or another entity that is affiliated with the Company or its successor following the Change in Control, (D) if the Participant holding the Replaced Award is subject to U.S. federal income tax under the Code, the tax consequences to such Participant under the Code of the Replacement Award are not less favorable to such Participant than the tax consequences of the Replaced Award, and (E) its other terms and conditions are not less favorable to the Participant holding the Replaced Award than the terms and conditions of the Replaced Award (including the provisions that would apply in the event of a subsequent Change in Control). Without limiting the generality of the foregoing, the Replacement Award may take the form of a continuation of the Replaced Award if the requirements of the preceding sentence are satisfied. The determination of whether the conditions of this Section 9(a)(ii) are satisfied will be made by the Committee, as constituted immediately before the Change in Control, in its sole discretion. Without limiting the generality of the foregoing, the Committee may determine the value of Awards and Replacement Awards that are stock options by reference to either their intrinsic value or their fair value.

(iii) If the Participant terminates his or her employment for Good Reason, the Participant is involuntarily terminated for reasons other than for Cause, or the Participant's employment terminates due to the Participant's death or Disability or Retirement, as such terms are hereinafter defined, during the period of two years after a Change in Control (A) all Replacement Awards held by the Participant will become fully vested and, if applicable, exercisable and free of restrictions (with any applicable performance goals deemed to have been achieved at a target level as of the date of such vesting), and (B) all Options and Stock Appreciation Rights held by the Participant immediately before such termination of employment that the Participant also held as of the date of the Change in Control or that constitute Replacement Awards will remain exercisable for not less than three years following such termination of employment or until the expiration of the stated term of such Option or Stock Appreciation Rights, whichever period is shorter (provided, however, that if the applicable Award Agreement provides for a longer period of exercisability, that provision will control).

(b) For purposes of the Plan, a “Change in Control” shall be deemed to have occurred if:

(i) any Person, as hereinafter defined, is or becomes the Beneficial Owner, as hereinafter defined, directly or indirectly, of securities of the Company, as hereinafter defined, (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its Affiliates) representing 25% or more of the combined voting power of the Company's then outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a transaction described in clause (A) of subsection (iii) below; or

(ii) the following individuals cease for any reason to constitute a majority of the number of Board directors then serving: individuals who, on February 19, 2013, constitute the Board and any new Board director (other than a Board director whose initial assumption of office is in connection with an actual or threatened election contest, including a consent solicitation, relating to the election of directors of the Company or by reason of any agreement intended to avoid or settle any election contest or solicitation of proxies or consents) whose appointment or election by the Board or nomination for election by the Company's shareholders was approved or recommended by a vote of at least two-thirds (2/3) of the Board directors then still in office who either were Board directors on February 19, 2013 or whose appointment, election or nomination for election was previously so approved or recommended; or

(iii) there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation or other entity, other than (A) a merger or consolidation which results in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 50% of the combined voting power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (B) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person or any securities acquired directly from the Company or its Affiliates) representing 25% or more of the combined voting power of the Company's then outstanding securities; or

(iv) the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the Company of all or substantially all of the Company's assets, other than a sale or disposition by the Company of all or substantially all of the Company's assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale.

(c) Notwithstanding any provision of the Plan to the contrary, to the extent an Award shall be deemed to be vested or earned, or to the extent the restrictions applicable to an Award shall be deemed to lapse, upon the occurrence of a Change in Control and such Change in Control is not described by Section 409A(a)(2)(A)(v) of the Code, then any resulting payment permitted by this Section 9 that would be considered deferred compensation under Section 409A of the Code will instead be made to the Participant on the 30th day following the earliest of (i) the Participant's “separation from service” with the Company (determined in accordance with Section 409A of the Code), (ii) the date payment otherwise would have been made in the absence of any provisions in the Plan to the contrary (provided such date is permissible under Section 409A of the Code), or (iii) the Participant's death.

(d) Solely for purposes of Sections 9(b) and (d), and notwithstanding anything to the contrary in any other provision of the Plan, the following terms shall have the following meanings:

(i) “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act;

(ii) “Company” shall mean Stanley Black & Decker, Inc.;

(iii) “Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (A) the Company or any of its subsidiaries, (B) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (C) an underwriter temporarily holding securities pursuant to an offering of such securities, or (D) a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock of the Company; and

(e) Unless otherwise specified in an applicable employment agreement, change in control severance agreement, change in control severance plan or award document:

(i) “Cause” shall mean

(A) the willful and continued failure by the Participant to substantially perform the Participant's duties with the Company or its Affiliates (other than any such failure resulting from the Participant's incapacity due to physical or mental illness or any such actual or anticipated failure after the issuance of a notice of termination for Good Reason by the Participant) that has not been cured within 30 calendar days after a written demand for substantial performance is delivered to the Participant by the Company, which demand specifically identifies the manner in which the Company believes that the Participant has not substantially performed the Participant's duties, or

(B) the willful engaging by the Participant in conduct which is demonstrably and materially injurious to the Company or its Affiliates, monetarily or otherwise.

For purposes of clauses (A) and (B) of this definition, no act, or failure to act, on the Participant's part shall be deemed “willful” unless done, or omitted to be done, by the Participant not in good faith and without reasonable belief that the Participant's act, or failure to act, was in the best interest of the Company.

(ii) “Disability” shall have the meaning set forth in the applicable Award Agreement (or, if not defined in the applicable Award Agreement, shall have the meaning provided in Section 22(e)(3) of the Code, or any successor provision thereto);

(iii) “Good Reason” shall mean, in each case without the consent of the affected Participant:

(A) a reduction by the Company in the Participant's annual base salary as in effect immediately prior to the Change in Control or as the same may be increased from time to time, except for across-the-board salary reductions similarly affecting all senior officers of the Company and all senior officers of any Person in control of the Company;

(B) the relocation of the Participant's principal place of employment to a location more than 35 miles from the Participant's principal place of employment immediately prior to the Change in Control or the Company's requiring the Participant to be based anywhere other than such principal place of employment (or permitted relocation thereof), except for required travel on the Company's business to an extent substantially consistent with the Participant's business travel obligations immediately prior to the Change in Control;

(C) the failure by the Company to pay to the Participant any portion of the Participant's current compensation or to pay to the Participant any portion of an installment of deferred compensation under any deferred compensation program of the Company, in any event within seven calendar days of the date such compensation is due.

No termination of employment shall be deemed to be for Good Reason unless (I) the applicable Participant provides the Company with written notice setting forth the specific facts or circumstances constituting Good Reason within 60 days after the initial existence of the occurrence of such facts or circumstances, (II) the Company has failed to cure such facts or circumstances within 30 days after its receipt of such written notice, and (III) the effective date of the Participant's termination of employment for Good Reason occurs no later than one year after the initial existence of the facts or circumstances constituting Good Reason.

(iv) “Retirement” shall have the meaning set forth in the applicable Award Agreement (or, if not defined in the applicable Award Agreement, shall mean the Participant's termination of employment with the Company and its Affiliates at or after attaining the age of 55 and completing 10 years of service).

Section 10. Compliance with Section 409A of the Code.

(a) To the extent applicable, it is intended that the Plan and any grants made hereunder comply with the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to Participants. The Plan and any Awards granted hereunder shall be administered in a manner consistent with this intent. Any reference in the Plan to Section 409A of the Code will also include any regulations or any

other formal guidance promulgated with respect to Section 409A of the Code by the U.S. Department of the Treasury or the Internal Revenue Service.

(b) If at the time of a Participant's separation from service (within the meaning of Section 409A of the Code), (i) the Participant shall be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected by the Company from time to time) and (ii) the Company shall make a good faith determination that an amount payable hereunder constitutes deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section 409A of the Code in order to avoid taxes or penalties under Section 409A of the Code, then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead pay it, without interest, on the first business day of the seventh month after the Participant's separation from service or, if earlier, on the Participant's death.

(c) Notwithstanding any provision of the Plan or of any Award Agreement to the contrary, in light of the uncertainty with respect to the proper application of Section 409A of the Code, the Company reserves the right to make amendments to the Plan and any Award Agreements as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code. In any case, a Participant shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a Participant or for a Participant's account in connection with the Plan and any Award Agreements (including any taxes and penalties under Section 409A of the Code), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold a Participant harmless from any or all of such taxes or penalties.

Section 11. Effective Date of the Plan

The Plan shall be effective as of January 1, 2013, subject to approval by the shareholders of the Company.

Section 12. Term of the Plan

No Award shall be granted under the Plan after December 31, 2022. However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted may extend beyond such date, and the authority of the Committee to amend, alter, or adjust any such Award, or to waive any conditions or rights under any such Award, and the authority of the Board to amend the Plan, shall extend beyond such date.

EX-10.2

EXHIBIT 10.2

John F. Lundgren

                                 Chief Executive Officer

                         1000 Stanley Drive, New Britain, CT 06053

                         T (860) 827-3851

Inter-Office Correspondence

To:      <NAME>    

From:     John Lundgren

Subject:     <DATE RANGE> Long-Term Incentive Program        

Date:     <DATE1>

Dear <NAME>,

It is my pleasure to congratulate you for being selected to participate in the Long Term Performance Award Program (the “Program”) under The Stanley Black & Decker 2013 Long-Term Incentive Plan. This Program is intended to provide substantial, equity-based awards for specified full-time members of our senior executive team, provided specific Corporate goals are achieved during the Program's <NUMBER> month measurement period (<DATE RANGE>).

In conjunction with our short-term incentive compensation program (MICP) and our equity award program, the Program is an important addition to your total compensation package, and provides a strong additional incentive to continue increasing shareholder value.

Bonus Opportunity

Each participant will have an opportunity to earn a number of Performance Shares (PS) based upon achievement of corporate financial goals, and may earn additional performance shares if the corporate financial goals are exceeded. Each PS unit represents one share of Stanley Black & Decker Common Stock and, accordingly, the potential value of a participant's performance award under the Program may change as our stock price changes.

Each participant is allocated a threshold, target and maximum number of PS units based upon assigned percentages of his or her annual base salary at the rate in effect as of <DATE2>. The initial value of each PS unit is $<AMOUNT>, the closing price of company common stock on <DATE3>.

Your performance award covers the following number of PS units:

	Threshold	Target	Max
% of Pay	<VALUE1>	<VALUE2>	<VALUE3>
# PS	<NUMBER1>	<NUMBER2>	<NUMBER3>

Performance awards will become vested at the time of settlement to the extent that the applicable performance metrics have been achieved and provided the participant is continuously employed by Stanley Black & Decker until such time, as more fully set forth in the enclosed Terms and Conditions Applicable to Long Term Performance Awards.

Financial Measurements

The Corporate financial goals for this Program will consist of three metrics. Two absolute goals (EPS, ROCE) and one relative goal (TSR) as set forth in the attached document.

Although this summary includes the key aspects of the Program, it is not intended to represent a full accounting of the rules and regulations applicable to the Program and is subject to the terms described in the Terms and Conditions Applicable to Long Term Performance Awards and The Stanley Black & Decker 2013 Long-Term Incentive Plan (available on request), which together with this document govern the Program.

If you have any questions, please call me, Jim Loree or Joe Voelker. Once again, thank you for your continued support and congratulations on being selected to participate in this important Program.

Best regards,

Terms and Conditions applicable to

Long Term Performance Awards

This certifies that Stanley Black & Decker, Inc. (the “Company”) has, on the Date set forth in Award Letter to which these Terms and Conditions apply, granted to the Participant named above a performance award (“Performance Award”) of that number of Performance Unitsset forth in the Award Letter, subject to certain restrictions and on the terms and conditions contained in the Award Documents and the Company's 2013 Long-Term Incentive Plan, as amended from time to time (the “Plan”). A copy of the Plan is available upon request. In the event of any conflict between the terms of the Plan and the Award Documents, the terms of the Plan shall govern. This Performance Award represents the right of the Participant to receive a number of Shares to be issued if the Company achieves the Performance Goals for the Measurement Period and employment requirements are satisfied.

1. Time and Manner of Settlement. As soon as practicable following completion of the applicable Measurement Period, but in no event later than March 15 of the year following the end of such period, and assuming that the Threshold Performance Goals are achieved and employment requirements are satisfied, the Company shall issue a number of Shares to the Participant, in settlement of the Participant's Performance Award, equal to (i) the number of Shares specified in the Award Letter to be issued based upon the Performance Goals achieved plus (ii) in the event performance falls between the Threshold and Target or Target and Maximum Goals as specified in the Award Documents, a pro rata number of Shares calculated as follows (rounded to the closest whole number):

S = ((A-L)/(N-L))x(SN-SL)

where:

S =the additional number of Shares to be issued

A =the actual Performance Goal achieved (e.g., EPS, ROCE, TSR)

L =the applicable Performance Goal reached (i.e., threshold, target or maximum)

N =the next highest applicable Performance Goal (i.e., target or maximum)

SN =the number of Shares designated for issuance at the next highest applicable Performance Goal; and

SL = the number of Shares designated for issuance at the applicable Performance Goal reached.

2. Vesting; form of settlement. Performance Awards will become vested at the time of settlement to the extent that the applicable performance metrics have been achieved and provided that the participant is continuously employed by the Company until such time. Performance Awards will be settled in shares of Company common stock as soon as practicable following the end of the Measurement Period. Performance Awards will be settled in the form of Unrestricted Stock.

If a participant's employment with the Company terminates due to his or her Retirement, death or Disability prior to the date the Performance Awards are settled, the participant's Performance Award will be pro-rated based on the number of days in the Measurement Period that the participant was employed by the Company. The participant's pro-rated Performance Award will be settled at the same time as performance awards for active participants are settled, to the extent the applicable performance metrics have been achieved. Pro-rated performance awards will be settled in the form of Unrestricted Stock. A participant whose employment with the Company terminates prior to the date of settlement for any other reason will forfeit all rights in respect of his or her performance award and will not be entitled to receive any Shares or other payment under the Program.

3. Rights of a Shareholder. The Participant shall not have any rights of a shareholder with respect to the Performance Awards or any Shares issued in settlement thereof prior to the date of settlement.

4. Transferability. Transferability shall be as set forth in the Plan.

5. Adjustments. Notwithstanding any other provision hereof, the Committee shall have authority to make adjustments in the terms and conditions of, and the criteria included in, Performance Awards granted hereunder, as set forth in the Plan.

6. Miscellaneous. The Committee shall have full authority to administer the Performance Awards and to interpret the terms of the Award Documents, which authority includes the authority to waive certain conditions in appropriate circumstances. All decisions or interpretations of the Committee with respect to any question arising in respect of the Performance Awards shall be binding, conclusive and final. The waiver by the Company of any provision of this document or any other Award document shall not operate as or be construed to be a subsequent waiver of the same provision or a waiver of any other provision of this document or any other Award document. The validity and construction of the terms of this document and any other Award document shall be governed by the laws of the State of Connecticut. The terms and conditions set forth in this document and any other Award document are subject in all respects to the terms and conditions of the Plan, which shall be controlling. The Participant agrees to execute such other agreements, documents or assignments as may be necessary or desirable to effect the purposes hereof.

7. Unfunded Arrangement. The Performance Awards represented in the Award Documents constitute an unfunded unsecured promise of the Company and the rights of the Participant in respect of the Performance Awards are no greater than the rights of an unsecured creditor of the Company.

8. Capitalized Terms. The following capitalized terms shall have the meaning set forth below for purposes of this Letter. All other capitalized terms used in this document shall have the meanings set forth in the Plan.

Award Documents. The documents provided to a Participant that advise the Participant that he or she has been selected to Participate in the Performance Award Program and set forth the Performance Period, Performance factors, Performance Goals, amounts payable at the Threshold, Target and Maximum Levels, and the terms and conditions applicable to the Award, which shall consist of an Award Letter, signed by the Chairman of the Committee, in the case of an Award to the Chief Executive Officer, and by the Chief Executive Officer or the Chief Operating Officer in the case of an Award to any other Participant, and the documents referenced therein.

Executive Officer. A person who the Company has designated an Executive Officer as such term is defined in Rule 3b-7 under the Securities Exchange Act of 1934 and as such term is used in Item 401(b) of Regulation S-K.

Measurement Period. The period during which financial performance is measured against the applicable Performance Goals as set forth in the Award Documents.

Performance Goals. Goals established by the Compensation and Organization Committee of the Board of Directors or, pursuant to an appropriate delegation of authority, the Chief Executive Officer, for performance of the Company as a whole and/or specific businesses or functions during the Measurement Period. The Performance Goals applicable to a Participant for a particular Measurement Period, if not enclosed with the Award Letter, will be communicated to the Participant by a member of the Company's Human Resources Department.

Shares. Shares of Unrestricted Stock to be issued if Performance Goals are achieved, as specified in the Award Documents.

Unrestricted Stock. Common Stockof the Company that may be sold at any time.

EX-31.A

EXHIBIT 31(i)(a)

CERTIFICATIONS

I, John F. Lundgren, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Stanley Black & Decker, Inc. and subsidiaries;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	April 26, 2013	/s/ John F. Lundgren
		John F. Lundgren
		Chairman and Chief Executive Officer

EX-31.B

EXHIBIT 31(i)(b)

CERTIFICATIONS

I, Donald Allan Jr., certify that:

1. I have reviewed this quarterly report on Form 10-Q of Stanley Black & Decker, Inc. and subsidiaries;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	April 26, 2013	/s/ Donald Allan Jr.
		Donald Allan Jr.
		Senior Vice President and Chief Financial Officer

EX-32.I

EXHIBIT 32 (i)

STANLEY BLACK & DECKER, INC.

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of Stanley Black & Decker, Inc. (the “Company”) on Form 10-Q for the period ending March 30, 2013 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John F. Lundgren, Chairman and Chief Executive Officer, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ John F. Lundgren
John F. Lundgren
Chairman and Chief Executive Officer
Date:	April 26, 2013

EX-32.II

EXHIBIT 32 (ii)

STANLEY BLACK & DECKER, INC.

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of Stanley Black & Decker, Inc. (the “Company”) on Form 10-Q for the period ending March 30, 2013 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Donald Allan, Jr., Senior Vice President and Chief Financial Officer, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Donald Allan, Jr.
Donald Allan, Jr.
Senior Vice President and Chief Financial Officer
Date:	April 26, 2013

XML

Guarantees (Tables)

3 Months Ended

Mar. 30, 2013

Financial Guarantees

The Company’s financial guarantees at March 30, 2013 are as follows (in millions):

(Millions of Dollars)	Term	Maximum Potential Payment		Carrying Amount of Liability
Guarantees on the residual values of leased properties	One to four years	$	26.4	$	—
Standby letters of credit	Up to three years	69.6		—
Commercial customer financing arrangements	Up to six years	17.2		13.2
Total		$	113.2	$	13.2

Changes in Carrying Amount of Product and Service Warranties

The changes in the carrying amount of product and service warranties for the three months ended March 30, 2013 and March 31, 2012 are as follows (in millions):

	2013			2012
Balance beginning of period	$	124.0		$	124.9
Warranties and guarantees issued	18.0			20.4
Warranty payments and currency	(24.3		)	(20.7		)
Balance end of period	$	117.7		$	124.6

XML

Detail Pre-tax Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) into Earnings for Active Derivative Financial Instruments (Detail) (Cash Flow Hedges, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013		Mar. 31, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from OCI to Income (Effective Portion)	$ (3.5)		$ (2.3)
Interest Rate Contracts | Interest expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recorded in OCI			1.4
Gain (Loss) Reclassified from OCI to Income (Effective Portion)			0
Gain (Loss) Recognized in Income (Ineffective Portion)			0	[1]
Foreign Exchange Contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recorded in OCI	3.1		(1.2)
Gain (Loss) Reclassified from OCI to Income (Effective Portion)	(1.8)		4.9
Gain (Loss) Recognized in Income (Ineffective Portion)	$ 0	[1]	$ 0	[1]

[1] Includes ineffective portion and amount excluded from effectiveness testing on derivatives.

XML

Supplemental Pro Forma Information Related to Business Acquisitions (Detail) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Business Acquisition [Line Items]
Net sales	$ 2,575.5	$ 2,619.8
Net earnings attributable to common shareowners	$ 98.6	$ 106.1
Diluted earnings per share-continuing operations	$ 0.62	$ 0.63

XML

Business Segments - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Segment Reporting Information [Line Items]
Integration costs associated with the Merger	$ 8.8	$ 9.9
Facility closure costs	13.3	2.3
Corporate overhead costs	25.5	17.5
Construction and Do It Yourself
Segment Reporting Information [Line Items]
Decrease in segment profit due to non-cash inventory step-up amortization	3.3	3.3
Securities Industry
Segment Reporting Information [Line Items]
Decrease in segment profit due to non-cash inventory step-up amortization	6.4	6.9
Industrial Segment
Segment Reporting Information [Line Items]
Decrease in segment profit due to non-cash inventory step-up amortization	$ 12.4	$ 2.0

XML

Fair Value Adjustments Relating to Swaps (Detail) (Fair Value Hedges, Interest expenses, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Fair Value Hedges | Interest expenses
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Gain/(Loss) on Swaps	$ (30.4)	$ (2.6)
Gain /(Loss) on Borrowings	$ 30.4	$ 2.6

XML

Condensed Consolidating Balance Sheet (Detail) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012	Mar. 31, 2012	Dec. 31, 2011
Current Assets
Cash and cash equivalents	$ 557.5	$ 716.0	$ 883.6	$ 906.9
Accounts and notes receivable, net	1,782.7	1,537.6
Inventories, net	1,539.7	1,316.0
Assets Held-for-sale, Current	83.9	135.2
Other current assets	462.1	394.1
Total Current Assets	4,425.9	4,098.9
Property, Plant and Equipment, net	1,354.6	1,333.6
Goodwill and intangibles, net	10,679.4	9,955.5
Investment in Subsidiaries	0	0
Intercompany Receivables	0	0
Other Assets	437.6	456.0
Total Assets	16,897.5	15,844.0
Current Liabilities
Short-term borrowings	1,331.9	1.1
Current maturities of long-term debt	10.6	10.4
Accounts payable and accrued expenses	2,782.4	3,031.2
Liabilities of Assets Held-for-sale	7.7	30.9
Total Current Liabilities	4,132.6	3,073.6
Long-term debt	3,494.1	3,526.5
Other Liabilities	2,611.7	2,516.8
Intercompany Payable Current	0	0
Accumulated other comprehensive (loss)	(530.2)	(388.0)
Other Shareowners' Equity	7,144.9	7,055.1
Non-controlling interests	44.4	60.0
Total Shareowners' Equity	6,659.1	6,727.1
Total Liabilities and Shareowners' Equity	16,897.5	15,844.0
Parent Stanley Black & Decker, Inc.
Current Assets
Cash and cash equivalents	1.0	83.5	(1.1)	56.2
Accounts and notes receivable, net	86.0	111.5
Inventories, net	152.6	139.9
Assets Held-for-sale, Current	0	0
Other current assets	126.9	46.8
Total Current Assets	366.5	381.7
Property, Plant and Equipment, net	200.0	217.4
Goodwill and intangibles, net	148.2	148.2
Investment in Subsidiaries	10,574.1	10,530.1
Intercompany Receivables	0	0
Other Assets	55.1	57.8
Total Assets	11,343.9	11,335.2
Current Liabilities
Short-term borrowings	1,330.6	0
Current maturities of long-term debt	5.5	5.3
Accounts payable and accrued expenses	122.9	288.6
Liabilities of Assets Held-for-sale	0	0
Total Current Liabilities	1,459.0	293.9
Long-term debt	3,001.2	3,028.0
Other Liabilities	12.7	(54.5)
Intercompany Payable Current	256.3	1,400.7
Accumulated other comprehensive (loss)	(530.2)	(388.0)
Other Shareowners' Equity	7,144.9	7,055.1
Non-controlling interests	0	0
Total Shareowners' Equity	6,614.7	6,667.1
Total Liabilities and Shareowners' Equity	11,343.9	11,335.2
The Black & Decker Corporation
Current Assets
Cash and cash equivalents	0.3	1.5	19.7	1.4
Accounts and notes receivable, net	0	0.7
Inventories, net	0	0
Assets Held-for-sale, Current	0	0
Other current assets	0	0
Total Current Assets	0.3	2.2
Property, Plant and Equipment, net	0	0
Goodwill and intangibles, net	1,412.7	1,415.1
Investment in Subsidiaries	2,883.8	2,861.9
Intercompany Receivables	7,604.9	7,763.2
Other Assets	70.1	70.1
Total Assets	11,971.8	12,112.5
Current Liabilities
Short-term borrowings	0	0
Current maturities of long-term debt	2.8	2.8
Accounts payable and accrued expenses	4.4	37.7
Liabilities of Assets Held-for-sale	0	0
Total Current Liabilities	7.2	40.5
Long-term debt	322.3	324.0
Other Liabilities	659.0	619.8
Intercompany Payable Current	8,615.2	9,291.8
Accumulated other comprehensive (loss)	(794.9)	(701.2)
Other Shareowners' Equity	3,163.0	2,537.6
Non-controlling interests	0	0
Total Shareowners' Equity	2,368.1	1,836.4
Total Liabilities and Shareowners' Equity	11,971.8	12,112.5
Non-Guarantor Subsidiaries
Current Assets
Cash and cash equivalents	556.2	631.0	865.0	849.3
Accounts and notes receivable, net	1,696.7	1,425.4
Inventories, net	1,387.1	1,176.1
Assets Held-for-sale, Current	83.9	135.2
Other current assets	335.2	347.3
Total Current Assets	4,059.1	3,715.0
Property, Plant and Equipment, net	1,154.6	1,116.2
Goodwill and intangibles, net	9,118.5	8,392.2
Investment in Subsidiaries	0	0
Intercompany Receivables	8,397.4	8,916.7
Other Assets	312.4	328.1
Total Assets	23,042.0	22,468.2
Current Liabilities
Short-term borrowings	1.3	1.1
Current maturities of long-term debt	2.3	2.3
Accounts payable and accrued expenses	2,655.1	2,704.9
Liabilities of Assets Held-for-sale	7.7	30.9
Total Current Liabilities	2,666.4	2,739.2
Long-term debt	170.6	174.5
Other Liabilities	1,940.0	1,951.5
Intercompany Payable Current	7,130.8	5,987.4
Accumulated other comprehensive (loss)	(336.5)	(133.8)
Other Shareowners' Equity	11,426.3	11,689.4
Non-controlling interests	44.4	60.0
Total Shareowners' Equity	11,134.2	11,615.6
Total Liabilities and Shareowners' Equity	23,042.0	22,468.2
Eliminations
Current Assets
Cash and cash equivalents	0	0	0	0
Accounts and notes receivable, net	0	0
Inventories, net	0	0
Assets Held-for-sale, Current		0
Other current assets	0	0
Total Current Assets	0	0
Property, Plant and Equipment, net	0	0
Goodwill and intangibles, net	0	0
Investment in Subsidiaries	(13,457.9)	(13,392.0)
Intercompany Receivables	(16,002.3)	(16,679.9)
Other Assets	0	0
Total Assets	(29,460.2)	(30,071.9)
Current Liabilities
Short-term borrowings	0	0
Current maturities of long-term debt	0	0
Accounts payable and accrued expenses	0	0
Liabilities of Assets Held-for-sale
Total Current Liabilities	0	0
Long-term debt	0	0
Other Liabilities	0	0
Intercompany Payable Current	(16,002.3)	(16,679.9)
Accumulated other comprehensive (loss)	1,131.4	835.0
Other Shareowners' Equity	(14,589.3)	(14,227.0)
Non-controlling interests	0	0
Total Shareowners' Equity	(13,457.9)	(13,392.0)
Total Liabilities and Shareowners' Equity	$ (29,460.2)	$ (30,071.9)

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Components of Inventories (Detail) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Schedule of Inventory [Line Items]
Finished products	$ 1,144.7	$ 962.0
Work in process	133.5	124.1
Raw materials	261.5	229.9
Total	$ 1,539.7	$ 1,316.0

XML

Equity Arrangements (Tables)

3 Months Ended

Mar. 30, 2013

Summary of Capped Call (Equity Options) Issued

$80.3 million

XML

Condensed Consolidating Statements of Cash Flow (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 30, 2013	Mar. 31, 2012	Dec. 31, 2011
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Cash (used in) provided by operating activities	$ (147.5)	$ (32.3)
INVESTING ACTIVITIES
Capital expenditures	(79.5)	(61.5)
Business acquisitions, net of cash acquired	(853.9)	(114.7)
Proceeds from sale of assets	1.0	1.9
Intercompany payables and receivables	0	0
Proceeds (payments) on net investment hedge settlements	(9.2)	2.0
Cash provided by (used in) investing activities	(941.6)	(172.3)
FINANCING ACTIVITIES
Payments on long-term debt	(0.6)	(0.3)
Stock purchase contract fees	(0.8)	(0.8)
Net short-term borrowings (repayments)	1,330.5	196.8
Cash dividends on common stock	(79.1)	(69.9)
Payments for Repurchase of Equity	(350.0)	0	(350.0)
Termination of interest rate swaps	0	35.8
Termination of forward starting interest rate swap	0	(56.4)
Proceeds from the issuance of common stock	83.2	64.6
Purchase of common stock for treasury	(21.1)	(10.9)
Intercompany payables and receivables	0	0
Cash provided by (used in) financing activities	962.1	158.9
Effect of exchange rate changes on cash and cash equivalents	(31.5)	22.4
Change in cash and cash equivalents	(158.5)	(23.3)
Cash and cash equivalents, beginning of period	716.0	906.9
CASH AND CASH EQUIVALENTS, END OF PERIOD	557.5	883.6	906.9
Parent Stanley Black & Decker, Inc.
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Cash (used in) provided by operating activities	(498.5)	(267.9)
INVESTING ACTIVITIES
Capital expenditures	(9.4)	(10.3)
Business acquisitions, net of cash acquired	0
Proceeds from sale of assets	0	0.9
Intercompany payables and receivables	(877.7)	175.4
Proceeds (payments) on net investment hedge settlements	(9.2)	0
Cash provided by (used in) investing activities	(896.3)	72.2
FINANCING ACTIVITIES
Payments on long-term debt	(0.3)	(0.3)
Stock purchase contract fees	(0.8)	(0.8)
Net short-term borrowings (repayments)	1,330.4	196.9
Cash dividends on common stock	(79.1)	(69.9)
Payments for Repurchase of Equity	0
Termination of interest rate swaps		15.2
Termination of forward starting interest rate swap		(56.4)
Proceeds from the issuance of common stock	83.2	64.6
Purchase of common stock for treasury	(21.1)	(10.9)
Intercompany payables and receivables	0	0
Cash provided by (used in) financing activities	1,312.3	138.4
Effect of exchange rate changes on cash and cash equivalents	0	0
Change in cash and cash equivalents	(82.5)	(57.3)
Cash and cash equivalents, beginning of period	83.5	56.2
CASH AND CASH EQUIVALENTS, END OF PERIOD	1.0	(1.1)
The Black & Decker Corporation
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Cash (used in) provided by operating activities	(1.7)	(27.9)
INVESTING ACTIVITIES
Capital expenditures	0	0
Business acquisitions, net of cash acquired	0
Proceeds from sale of assets	0	0
Intercompany payables and receivables	(27.8)	185.0
Proceeds (payments) on net investment hedge settlements	0	2.0
Cash provided by (used in) investing activities	(27.8)	187.0
FINANCING ACTIVITIES
Payments on long-term debt	0	0
Stock purchase contract fees	0	0
Net short-term borrowings (repayments)	0	0
Cash dividends on common stock	0	0
Payments for Repurchase of Equity	0
Termination of interest rate swaps		20.6
Termination of forward starting interest rate swap		0
Proceeds from the issuance of common stock	0	0
Purchase of common stock for treasury	0	0
Intercompany payables and receivables	28.3	(161.4)
Cash provided by (used in) financing activities	28.3	(140.8)
Effect of exchange rate changes on cash and cash equivalents	0	0
Change in cash and cash equivalents	(1.2)	18.3
Cash and cash equivalents, beginning of period	1.5	1.4
CASH AND CASH EQUIVALENTS, END OF PERIOD	0.3	19.7
Non-Guarantor Subsidiaries
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Cash (used in) provided by operating activities	352.7	263.5
INVESTING ACTIVITIES
Capital expenditures	(70.1)	(51.2)
Business acquisitions, net of cash acquired	(853.9)
Proceeds from sale of assets	1.0	1.0
Intercompany payables and receivables	0	0
Proceeds (payments) on net investment hedge settlements	0	0
Cash provided by (used in) investing activities	(923.0)	(71.1)
FINANCING ACTIVITIES
Payments on long-term debt	(0.3)	0
Stock purchase contract fees	0	0
Net short-term borrowings (repayments)	0.1	(0.1)
Cash dividends on common stock	0	0
Payments for Repurchase of Equity	(350.0)
Termination of interest rate swaps		0
Termination of forward starting interest rate swap		0
Proceeds from the issuance of common stock	0	0
Purchase of common stock for treasury	0	0
Intercompany payables and receivables	877.2	(199.0)
Cash provided by (used in) financing activities	527.0	(199.1)
Effect of exchange rate changes on cash and cash equivalents	(31.5)	22.4
Change in cash and cash equivalents	(74.8)	15.7
Cash and cash equivalents, beginning of period	631.0	849.3
CASH AND CASH EQUIVALENTS, END OF PERIOD	556.2	865.0
Eliminations
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Cash (used in) provided by operating activities	0	0
INVESTING ACTIVITIES
Capital expenditures	0	0
Business acquisitions, net of cash acquired	0
Proceeds from sale of assets	0	0
Intercompany payables and receivables	905.5	(360.4)
Proceeds (payments) on net investment hedge settlements	0	0
Cash provided by (used in) investing activities	905.5	(360.4)
FINANCING ACTIVITIES
Payments on long-term debt	0	0
Stock purchase contract fees	0	0
Net short-term borrowings (repayments)	0	0
Cash dividends on common stock	0	0
Payments for Repurchase of Equity	0
Termination of interest rate swaps		0
Termination of forward starting interest rate swap		0
Proceeds from the issuance of common stock	0	0
Purchase of common stock for treasury	0	0
Intercompany payables and receivables	(905.5)	360.4
Cash provided by (used in) financing activities	(905.5)	360.4
Effect of exchange rate changes on cash and cash equivalents	0	0
Change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
CASH AND CASH EQUIVALENTS, END OF PERIOD	0	0
Niscayah [Member]
INVESTING ACTIVITIES
Business acquisitions, net of cash acquired		(114.7)
Niscayah [Member] | Parent Stanley Black & Decker, Inc.
INVESTING ACTIVITIES
Business acquisitions, net of cash acquired		(93.8)
Niscayah [Member] | The Black & Decker Corporation
INVESTING ACTIVITIES
Business acquisitions, net of cash acquired		0
Niscayah [Member] | Non-Guarantor Subsidiaries
INVESTING ACTIVITIES
Business acquisitions, net of cash acquired		(20.9)
Niscayah [Member] | Eliminations
INVESTING ACTIVITIES
Business acquisitions, net of cash acquired		$ 0

XML

Financial Guarantees (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013
Guarantor Obligations [Line Items]
Guarantee Obligations Maximum Potential Payment	113.2
Guarantee Liability Carrying Amount	13.2
Guarantees on the residual values of leased properties
Guarantor Obligations [Line Items]
Guarantee Obligations Maximum Potential Payment	26.4
Guarantee Liability Carrying Amount	0
Guarantees on the residual values of leased properties | Minimum
Guarantor Obligations [Line Items]
Guarantee Obligation Term	1 year
Guarantees on the residual values of leased properties | Maximum
Guarantor Obligations [Line Items]
Guarantee Obligation Term	4 years
Standby letters of credit
Guarantor Obligations [Line Items]
Guarantee Obligations Maximum Potential Payment	69.6
Guarantee Liability Carrying Amount	0
Standby letters of credit | Maximum
Guarantor Obligations [Line Items]
Guarantee Obligation Term	3 years
Commercial customer financing arrangements
Guarantor Obligations [Line Items]
Guarantee Obligations Maximum Potential Payment	17.2
Guarantee Liability Carrying Amount	13.2
Commercial customer financing arrangements | Maximum
Guarantor Obligations [Line Items]
Guarantee Obligation Term	6 years

XML

Income Statement Impacts Related to Derivatives Not Designated as Hedging Instruments (Detail) (Not Designated as Hedging Instrument, Foreign Exchange Contracts, Other, net, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Other, net
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Amount of Gain (Loss) Recorded in Income on Derivative	$ (60.6)	$ (8.7)

XML

Parent and Subsidiary Debt Guarantees - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012	Mar. 31, 2012	Dec. 31, 2011
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Cash and cash equivalents	$ 557.5	$ 716.0	$ 883.6	$ 906.9
Notes payable due 2021
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Interest rate	3.40%	3.40%
Notes payable due 2016
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Interest rate	5.75%	5.75%
Parent Stanley Black & Decker, Inc.
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Cash and cash equivalents	1.0	83.5	(1.1)	56.2
Parent Stanley Black & Decker, Inc. | Notes payable due 2012
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Interest rate	4.90%			4.90%
Parent Stanley Black & Decker, Inc. | Notes payable due 2021
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Interest rate	3.40%			3.40%
The Black & Decker Corporation
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Cash and cash equivalents	0.3	1.5	19.7	1.4
The Black & Decker Corporation | Notes payable due 2016
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Interest rate	5.75%			5.75%
Subsidiaries Non Guarantor [Member]
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Cash and cash equivalents	$ 556.2	$ 631.0	$ 865.0	$ 849.3

XML

Condensed Consolidating Statement of Operations and Comprehensive Income (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Schedule of Condensed Consolidating Statement of Operations [Line Items]
NET SALES	$ 2,487.2	$ 2,426.1
Costs and Expenses
Cost of sales	1,576.3	1,514.1
Selling, general and administrative	669.9	637.3
Other - net	71.0	67.9
Restructuring charges	42.9	40.0
Interest expense, net	36.7	31.4
Costs and Expenses, Total	2,396.8	2,290.7
Earnings from continuing operations before income taxes	90.4	135.4
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	8.8	29.8
Equity in earnings of subsidiaries	0	0
Earnings from continuing operations	81.6	105.6
Less: net loss attributable to non-controlling interests	(0.4)	(0.7)
Net earnings from continuing operations attributable to common shareowners	82.0	106.3
Net earnings from discontinued operations	(0.9)	15.5
Net Earnings Attributable to Common Shareowners	81.1	121.8
Total Comprehensive (Loss) Income Attributable to Common Shareowners	(61.1)	198.7
Parent Stanley Black & Decker, Inc.
Schedule of Condensed Consolidating Statement of Operations [Line Items]
NET SALES	311.8	338.4
Costs and Expenses
Cost of sales	231.4	220.3
Selling, general and administrative	170.8	168.4
Other - net	(20.2)	(12.9)
Restructuring charges	16.5	0
Interest expense, net	30.3	20.4
Costs and Expenses, Total	428.8	396.2
Earnings from continuing operations before income taxes	(117.0)	(57.8)
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	(43.3)	(17.9)
Equity in earnings of subsidiaries	155.7	146.2
Earnings from continuing operations	82.0	106.3
Less: net loss attributable to non-controlling interests	0	0
Net earnings from continuing operations attributable to common shareowners	82.0	106.3
Net earnings from discontinued operations	(0.9)	15.5
Net Earnings Attributable to Common Shareowners	81.1	121.8
Total Comprehensive (Loss) Income Attributable to Common Shareowners	(61.1)	198.7
The Black & Decker Corporation
Schedule of Condensed Consolidating Statement of Operations [Line Items]
NET SALES	0	0
Costs and Expenses
Cost of sales	0	0
Selling, general and administrative	0.7	6.1
Other - net	(15.5)	(17.8)
Restructuring charges	0	0
Interest expense, net	6.6	11.7
Costs and Expenses, Total	(8.2)	0
Earnings from continuing operations before income taxes	8.2	0
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	3.0	0
Equity in earnings of subsidiaries	114.9	109.0
Earnings from continuing operations	120.1	109.0
Less: net loss attributable to non-controlling interests	0	0
Net earnings from continuing operations attributable to common shareowners	120.1	109.0
Net earnings from discontinued operations	0	14.5
Net Earnings Attributable to Common Shareowners	120.1	123.5
Total Comprehensive (Loss) Income Attributable to Common Shareowners	26.4	54.0
Non-Guarantor Subsidiaries
Schedule of Condensed Consolidating Statement of Operations [Line Items]
NET SALES	2,261.9	2,177.7
Costs and Expenses
Cost of sales	1,416.2	1,365.3
Selling, general and administrative	513.6	481.3
Other - net	106.7	98.6
Restructuring charges	26.4	40.0
Interest expense, net	(0.2)	(0.7)
Costs and Expenses, Total	2,062.7	1,984.5
Earnings from continuing operations before income taxes	199.2	193.2
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	49.1	47.7
Equity in earnings of subsidiaries	0	0
Earnings from continuing operations	150.1	145.5
Less: net loss attributable to non-controlling interests	(0.4)	(0.7)
Net earnings from continuing operations attributable to common shareowners	150.5	146.2
Net earnings from discontinued operations	(0.9)	15.5
Net Earnings Attributable to Common Shareowners	149.6	161.7
Total Comprehensive (Loss) Income Attributable to Common Shareowners	(53.1)	270.0
Eliminations
Schedule of Condensed Consolidating Statement of Operations [Line Items]
NET SALES	(86.5)	(90.0)
Costs and Expenses
Cost of sales	(71.3)	(71.5)
Selling, general and administrative	(15.2)	(18.5)
Other - net	0	0
Restructuring charges	0	0
Interest expense, net	0	0
Costs and Expenses, Total	(86.5)	(90.0)
Earnings from continuing operations before income taxes	0	0
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	0	0
Equity in earnings of subsidiaries	(270.6)	(255.2)
Earnings from continuing operations	(270.6)	(255.2)
Less: net loss attributable to non-controlling interests	0	0
Net earnings from continuing operations attributable to common shareowners	(270.6)	(255.2)
Net earnings from discontinued operations	0.9	(30.0)
Net Earnings Attributable to Common Shareowners	(269.7)	(285.2)
Total Comprehensive (Loss) Income Attributable to Common Shareowners	$ 26.7	$ (324.0)

XML

Summary of Total Assets by Segment (Detail) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Segment Reporting Information [Line Items]
Assets	$ 16,897.5	$ 15,844.0
Segment, Continuing Operations
Segment Reporting Information [Line Items]
Assets	16,784.0	15,623.7
Segment, Continuing Operations | Construction and Do It Yourself
Segment Reporting Information [Line Items]
Assets	7,671.1	7,437.9
Segment, Continuing Operations | Securities Industry
Segment Reporting Information [Line Items]
Assets	4,494.1	4,728.9
Segment, Continuing Operations | Industrial Segment
Segment Reporting Information [Line Items]
Assets	4,618.8	3,456.9
Segment, Continuing Operations | Corporate assets
Segment Reporting Information [Line Items]
Assets	29.6	85.1
Segment, Discontinued Operations [Member]
Segment Reporting Information [Line Items]
Assets	$ 83.9	$ 135.2

XML

Parent and Subsidiary Debt Guarantees

3 Months Ended

Mar. 30, 2013

Parent and Subsidiary Debt Guarantees

Parent and Subsidiary Debt Guarantees

The following debt obligations were issued by Stanley Black & Decker, Inc. (“Stanley”) and are fully and unconditionally guaranteed by The Black & Decker Corporation (“Black & Decker”), a 100% owned direct subsidiary of Stanley: 3.40% Notes due 2021; 2.90% Notes due 2022; and the 2040 Term Bonds (collectively, the “Stanley Notes”).

The following note was issued by Black & Decker and is fully and unconditionally guaranteed by Stanley: 5.75% Notes due 2016; (the “Black & Decker Note”).

The Stanley Notes and the Black & Decker Note were issued under indentures attached as Exhibits to the Company’s Annual Report on Form 10-K for the year ended December 29, 2012. The Black & Decker Note and Black & Decker’s guarantee of the Stanley Notes rank equally with all of Black & Decker’s other unsecured and unsubordinated indebtedness. The Stanley guarantee of the Black & Decker Note is an unsecured obligation of the Company, ranking equal in right of payment with all the Company’s existing and future unsecured and unsubordinated indebtedness.

The following tables, in accordance with Rule 3-10(e) of Regulation S-X for the Stanley Notes, and Rule 3-10(c) of Regulation S-X for the Black & Decker Note, present the condensed consolidating statements of operations and comprehensive income for the three months ended March 30, 2013, and March 31, 2012; and the condensed consolidating balance sheets as of March 30, 2013 and December 29, 2012; and the condensed consolidating statements of cash flows for the three months ended March 30, 2013, and March 31, 2012.

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Operations and Comprehensive Income

(Unaudited, Millions of Dollars)

Three Months Ended March 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET SALES	$	311.8		$	—		$	2,261.9		$	(86.5	)	$	2,487.2
COSTS AND EXPENSES
Cost of sales	231.4			—			1,416.2			(71.3		)	1,576.3
Selling, general and administrative	170.8			0.7			513.6			(15.2		)	669.9
Other - net	(20.2		)	(15.5		)	106.7			—			71.0
Restructuring charges and asset impairments	16.5			—			26.4			—			42.9
Interest expense, net	30.3			6.6			(0.2		)	—			36.7
	428.8			(8.2		)	2,062.7			(86.5		)	2,396.8
(Loss) earnings from continuing operations before income taxes (benefit) and equity in earnings of subsidiaries	(117.0		)	8.2			199.2			—			90.4
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	(43.3		)	3.0			49.1			—			8.8
Equity in earnings of subsidiaries	155.7			114.9			—			(270.6		)	—
Earnings from continuing operations	82.0			120.1			150.1			(270.6		)	81.6
Less: net loss attributable to non-controlling interests	—			—			(0.4		)	—			(0.4		)
Net earnings from continuing operations attributable to common shareholders	$	82.0		$	120.1		$	150.5		$	(270.6	)	$	82.0
Net loss from discontinued operations	$	(0.9	)	$	—		$	(0.9	)	$	0.9		$	(0.9	)
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS	$	81.1		$	120.1		$	149.6		$	(269.7	)	$	81.1
Total Comprehensive (Loss) Income Attributable to Common Shareowners	$	(61.1	)	$	26.4		$	(53.1	)	$	26.7		$	(61.1	)

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Operations and Comprehensive Income

(Unaudited, Millions of Dollars)

Three Months EndedMarch 31, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET SALES	$	338.4		$	—		$	2,177.7		$	(90.0	)	$	2,426.1
COSTS AND EXPENSES
Cost of sales	220.3			—			1,365.3			(71.5		)	1,514.1
Selling, general and administrative	168.4			6.1			481.3			(18.5		)	637.3
Other - net	(12.9		)	(17.8		)	98.6			—			67.9
Restructuring charges and asset impairments	—			—			40.0			—			40.0
Interest expense, net	20.4			11.7			(0.7		)	—			31.4
	396.2			—			1,984.5			(90.0		)	2,290.7
(Loss) earnings from continuing operations before income taxes and equity in earnings of subsidiaries	(57.8		)	—			193.2			—			135.4
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	(17.9		)	—			47.7			—			29.8
Equity in earnings of subsidiaries	146.2			109.0			—			(255.2		)	—
Earnings from continuing operations	106.3			109.0			145.5			(255.2		)	105.6
Less: net loss attributable to non-controlling interests	—			—			(0.7		)	—			(0.7		)
Net earnings from continuing operations attributable to common shareholders	$	106.3		$	109.0		$	146.2		$	(255.2	)	$	106.3
Net earnings from discontinued operations	$	15.5		$	14.5		$	15.5		$	(30.0	)	$	15.5
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS	$	121.8		$	123.5		$	161.7		$	(285.2	)	$	121.8
Total Comprehensive Income Attributable to Common Shareowners	$	198.7		$	54.0		$	270.0		$	(324.0	)	$	198.7

Stanley Black & Decker, Inc.

Condensed Consolidating Balance Sheet

(Unaudited, Millions of Dollars)

March 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	1.0		$	0.3		$	556.2		$	—		$	557.5
Accounts and notes receivable, net	86.0			—			1,696.7			—			1,782.7
Inventories, net	152.6			—			1,387.1			—			1,539.7
Assets held for sale	—			—			83.9						83.9
Other current assets	126.9			—			335.2			—			462.1
Total Current Assets	366.5			0.3			4,059.1			—			4,425.9
Property, plant and equipment, net	200.0			—			1,154.6			—			1,354.6
Goodwill and intangibles, net	148.2			1,412.7			9,118.5			—			10,679.4
Investment in subsidiaries	10,574.1			2,883.8			—			(13,457.9		)	—
Intercompany receivables	—			7,604.9			8,397.4			(16,002.3		)	—
Other assets	55.1			70.1			312.4			—			437.6
Total Assets	$	11,343.9		$	11,971.8		$	23,042.0		$	(29,460.2	)	$	16,897.5
LIABILITIES AND SHAREOWNERS’ EQUITY
Current Liabilities
Short-term borrowings	$	1,330.6		$	—		$	1.3		$	—		$	1,331.9
Current maturities of long-term debt	5.5			2.8			2.3			—			10.6
Accounts payable and accrued expenses	122.9			4.4			2,655.1			—			2,782.4
Liabilities held for sale	—			—			7.7						7.7
Total Current Liabilities	1,459.0			7.2			2,666.4			—			4,132.6
Long-term debt	3,001.2			322.3			170.6			—			3,494.1
Other liabilities	12.7			659.0			1,940.0			—			2,611.7
Intercompany payables	256.3			8,615.2			7,130.8			(16,002.3		)	—
Accumulated other comprehensive loss	(530.2		)	(794.9		)	(336.5		)	1,131.4			(530.2		)
Other shareowners’ equity	7,144.9			3,163.0			11,426.3			(14,589.3		)	7,144.9
Non-controlling interests	—			—			44.4			—			44.4
Total Shareowners’ Equity	6,614.7			2,368.1			11,134.2			(13,457.9		)	6,659.1
Total Liabilities and Shareowners’ Equity	$	11,343.9		$	11,971.8		$	23,042.0		$	(29,460.2	)	$	16,897.5

Stanley Black & Decker, Inc.

Condensed Consolidating Balance Sheet

(Millions of Dollars)

December 29, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	83.5		$	1.5		$	631.0		$	—		$	716.0
Accounts and notes receivable, net	111.5			0.7			1,425.4			—			1,537.6
Inventories, net	139.9			—			1,176.1			—			1,316.0
Assets held for sale	—			—			135.2			—			135.2
Other current assets	46.8			—			347.3			—			394.1
Total Current Assets	381.7			2.2			3,715.0			—			4,098.9
Property, plant and equipment, net	217.4			—			1,116.2			—			1,333.6
Goodwill and intangibles, net	148.2			1,415.1			8,392.2			—			9,955.5
Investment in subsidiaries	10,530.1			2,861.9			—			(13,392.0		)	—
Intercompany receivables	—			7,763.2			8,916.7			(16,679.9		)	—
Other assets	57.8			70.1			328.1			—			456.0
Total Assets	$	11,335.2		$	12,112.5		$	22,468.2		$	(30,071.9	)	$	15,844.0
LIABILITIES AND SHAREOWNERS’ EQUITY
Current Liabilities
Short-term borrowings	$	—		$	—		$	1.1		$	—		$	1.1
Current maturities of long-term debt	5.3			2.8			2.3			—			10.4
Accounts payable and accrued expenses	288.6			37.7			2,704.9			—			3,031.2
Liabilities held for sale	—			—			30.9						30.9
Total Current Liabilities	293.9			40.5			2,739.2			—			3,073.6
Long-term debt	3,028.0			324.0			174.5			—			3,526.5
Other liabilities	(54.5		)	619.8			1,951.5			—			2,516.8
Intercompany payables	1,400.7			9,291.8			5,987.4			(16,679.9		)	—
Accumulated other comprehensive loss	(388.0		)	(701.2		)	(133.8		)	835.0			(388.0		)
Other shareowners’ equity	7,055.1			2,537.6			11,689.4			(14,227.0		)	7,055.1
Non-controlling interests	—			—			60.0			—			60.0
Total Shareowners’ Equity	6,667.1			1,836.4			11,615.6			(13,392.0		)	6,727.1
Total Liabilities and Shareowners’ Equity	$	11,335.2		$	12,112.5		$	22,468.2		$	(30,071.9	)	$	15,844.0

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Cash Flow

(Unaudited, Millions of Dollars)

Three Months EndedMarch 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash (used in) provided by operating activities	$	(498.5	)	$	(1.7	)	$	352.7		$	—		$	(147.5	)
Investing Activities
Capital expenditures	(9.4		)	—			(70.1		)	—			(79.5		)
Business acquisitions, net of cash acquired	—			—			(853.9		)	—			(853.9		)
Proceeds from sale of assets	—			—			1.0			—			1.0
Intercompany payables and receivables	(877.7		)	(27.8		)	—			905.5			—
Payments on net investment hedge settlements	(9.2		)	—			—			—			(9.2		)
Cash (used in) provided by investing activities	(896.3		)	(27.8		)	(923.0		)	905.5			(941.6		)
Financing Activities
Payments on long-term debt	(0.3		)	—			(0.3		)	—			(0.6		)
Stock purchase contract fees	(0.8		)	—			—			—			(0.8		)
Net short-term borrowings	1,330.4			—			0.1			—			1,330.5
Cash dividends on common stock	(79.1		)	—			—			—			(79.1		)
Payment on forward stock purchase contract	—			—			(350.0		)	—			(350.0		)
Proceeds from the issuance of common stock	83.2			—			—			—			83.2
Purchases of common stock for treasury	(21.1		)	—			—			—			(21.1		)
Intercompany payables and receivables	—			28.3			877.2			(905.5		)	—
Cash provided (used in) by financing activities	1,312.3			28.3			527.0			(905.5		)	962.1
Effect of exchange rate changes on cash and cash equivalents	—			—			(31.5		)	—			(31.5		)
Change in cash and cash equivalents	(82.5		)	(1.2		)	(74.8		)	—			(158.5		)
Cash and cash equivalents, beginning of period	83.5			1.5			631.0			—			716.0
Cash and cash equivalents, end of period	$	1.0		$	0.3		$	556.2		$	—		$	557.5

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Cash Flow

(Unaudited, Millions of Dollars)

Three Months EndedMarch 31, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash (used in) provided by operating activities	$	(267.9	)	$	(27.9	)	$	263.5		$	—		$	(32.3	)
Investing Activities
Capital expenditures	(10.3		)	—			(51.2		)	—			(61.5		)
Business acquisitions, net of cash acquired	(93.8		)	—			(20.9		)	—			(114.7		)
Proceeds from sale of assets	0.9			—			1.0			—			1.9
Intercompany payables and receivables	175.4			185.0			—			(360.4		)	—
Proceeds on net investment hedge settlements	—			2.0			—			—			2.0
Cash provided (used in) by investing activities	72.2			187.0			(71.1		)	(360.4		)	(172.3		)
Financing Activities
Payments on long-term debt	(0.3		)	—			—			—			(0.3		)
Stock purchase contract fees	(0.8		)	—			—			—			(0.8		)
Net short-term borrowings (repayments)	196.9			—			(0.1		)	—			196.8
Cash dividends on common stock	(69.9		)	—			—			—			(69.9		)
Termination of interest rate swaps	15.2			20.6			—			—			35.8
Termination of forward starting interest rate swap	(56.4		)	—			—			—			(56.4		)
Proceeds from the issuance of common stock	64.6			—			—			—			64.6
Purchases of common stock for treasury	(10.9		)	—			—			—			(10.9		)
Intercompany payables and receivables	—			(161.4		)	(199.0		)	360.4			—
Cash provided by (used in) financing activities	138.4			(140.8		)	(199.1		)	360.4			158.9
Effect of exchange rate changes on cash and cash equivalents	—			—			22.4			—			22.4
Change in cash and cash equivalents	(57.3		)	18.3			15.7			—			(23.3		)
Cash and cash equivalents, beginning of period	56.2			1.4			849.3			—			906.9
Cash and cash equivalents, end of period	$	(1.1	)	$	19.7		$	865.0		$	—		$	883.6

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Long-Term Debt and Financing Arrangements (Detail) (USD $) Share data in Thousands, unless otherwise specified																									3 Months Ended
	Mar. 30, 2013	Dec. 29, 2012	Mar. 30, 2013 Notes payable due 2016	Dec. 29, 2012 Notes payable due 2016	Mar. 30, 2013 Convertible notes payable due in 2018 (junior subordinated)	Dec. 29, 2012 Convertible notes payable due in 2018 (junior subordinated)	Nov. 30, 2010 Convertible notes payable due in 2018 (junior subordinated)	Mar. 30, 2013 Notes payable due 2021	Dec. 29, 2012 Notes payable due 2021	Mar. 30, 2013 Notes Payable due 2022 [Member]	Mar. 30, 2013 Notes Payable Maturities 2022 [Member]	Dec. 29, 2012 Notes Payable Maturities 2022 [Member]	Mar. 30, 2013 Notes payable due 2028	Dec. 29, 2012 Notes payable due 2028	Mar. 30, 2013 Notes payable due 2040	Dec. 29, 2012 Notes payable due 2040	Mar. 30, 2013 Notes 5 Point 75 Percent Due 2052 [Member]	Dec. 29, 2012 Notes 5 Point 75 Percent Due 2052 [Member]	Mar. 30, 2013 Other, payable in varying amounts through 2021	Dec. 29, 2012 Other, payable in varying amounts through 2021	Mar. 30, 2013 Other, payable in varying amounts through 2021 Minimum	Dec. 29, 2012 Other, payable in varying amounts through 2021 Minimum	Mar. 30, 2013 Other, payable in varying amounts through 2021 Maximum	Dec. 29, 2012 Other, payable in varying amounts through 2021 Maximum	Mar. 30, 2013 Number of stock warrants	Mar. 31, 2012 Number of stock warrants	Mar. 30, 2013 Fixed-to-Floating Interest Rate Swaps Terminated Notes payable due 2016	Mar. 30, 2013 Fixed to Floating Interest Rate Swap Notes payable due 2021	Mar. 30, 2013 Fixed to Floating Interest Rate Swap Notes payable due 2028	Mar. 30, 2013 Fixed to Floating Interest Rate Swap Notes payable due 2040
Debt Instrument [Line Items]
Long-term debt fair value adjustment	$ 16,200,000																										$ 15,000,000
Commercial paper borrowings outstanding	1,331,100,000
Commercial paper borrowings capacity	2,000,000,000
Antidilutive securities excluded from the computation of EPS																									0	4,939
Debt instrument, face amount																											300,000,000	400,000,000	150,000,000	400,000,000
Long-term debt, interest rate			5.75%	5.75%	4.25%	4.25%		3.40%	3.40%		2.90%	2.90%	7.05%	7.05%	5.20%	5.20%	5.75%	5.75%			0.00%	0.00%	7.14%	7.14%
Long-term debt, including current maturities	3,504,700,000	3,536,900,000	325,100,000	326,800,000	632,500,000	632,500,000	632,500,000	410,700,000	417,100,000	799,300,000		799,300,000	164,700,000	169,600,000	384,700,000	404,400,000	750,000,000	750,000,000	37,700,000	37,200,000
Less: Current maturities of long-term debt	(10,600,000)	(10,400,000)
Long-term debt	$ 3,494,100,000	$ 3,526,500,000

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Reconciliation of Net Earnings Attributable to Common Shareowners and Weighted-Average Shares Outstanding used to Calculate Basic and Diluted Earnings per Share (Detail) (USD $) In Millions, except Share data in Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Numerator
Net earnings from continuing operations attributable to common shareowners	$ 82.0	$ 106.3
Net earnings from discontinued operations	(0.9)	15.5
Net earnings attributable to common shareowners	81.1	121.8
Less earnings attributable to participating restricted stock units ("RSU's")	0.1	0.2
Net Earnings - basic	81.0	121.6
Net Earnings - dilutive	$ 81.1	$ 121.8
Denominator:
Basic earnings per share - weighted-average shares	155,552	164,530
Dilutive effect of stock options, awards and convertible preferred units and notes	3,442	4,418
Diluted earnings per share - weighted-average shares	158,994	168,948
Basic earnings per share of common stock:
Continuing operations (in dollars per share)	$ 0.53	$ 0.65
Discontinued operations (in dollars per share)	$ (0.01)	$ 0.09
Total basic earnings per share of common stock	$ 0.52
Diluted earnings per share of common stock:
Continuing operations (in dollars per share)	$ 0.52	$ 0.63
Discontinued operations (in dollars per share)	$ (0.01)	$ 0.09
Total dilutive earnings per share of common stock	$ 0.51	$ 0.72

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Changes in Carrying Amount of Product and Service Warranties (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Class of Warrant or Right [Line Items]
Balance beginning of period	$ 124.0	$ 124.9
Warranties and guarantees issued	18.0	20.4
Warranty payments and currency	(24.3)	(20.7)
Balance end of period	$ 117.7	$ 124.6

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Restructuring Charges (Tables)

3 Months Ended

Mar. 30, 2013

Summary of Restructuring Reserve Activity

A summary of the restructuring reserve activity from December 29, 2012 to March 30, 2013 is as follows (in millions):

	12/29/2012		Additions (Reversals), net			Usage			Currency			3/30/2013
2013 Actions
Severance and related costs	$	—	$	21.6		$	(1.6	)	$	(0.5	)	$	19.5
Facility closures	$	—	$	7.2		$	(3.6	)	$	(0.2	)	$	3.4
Asset Impairments	$	—	$	16.5		$	(16.5	)	$	—		$	—
Subtotal 2013 actions	$	—	$	45.3		$	(21.7	)	$	(0.7	)	$	22.9
Pre-2013 Actions
Severance and related costs	$	112.1	$	(2.5	)	$	(17.2	)	$	(2.5	)	$	89.9
Facility closures	13.1		0.1			(0.7		)	—			12.5
Subtotal Pre-2013 actions	$	125.2	$	(2.4	)	$	(17.9	)	$	(2.5	)	$	102.4
Total	$	125.2	$	42.9		$	(39.6	)	$	(3.2	)	$	125.3

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Summary of Fair Value of Derivatives (Detail) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012	Jan. 31, 2012
Derivatives, Fair Value [Line Items]
Notional Amount of Interest Rate Derivatives	$ 950	$ 950
Deferred (Gain) Loss on Discontinuation of Fair Value Hedge			28.0
Cash Flow Hedges | Fixed-to-Floating Interest Rate Swaps Terminated
Derivatives, Fair Value [Line Items]
Notional Amount of Interest Rate Derivatives			240
Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	65.0	25.1
Fair value of liability derivatives	37.6	36.2
Designated as Hedging Instruments | Cash Flow Hedges | Foreign Exchange Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	2.4	0
Designated as Hedging Instruments | Cash Flow Hedges | Foreign Exchange Contracts | Accrued expenses
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	1.1	2.6
Designated as Hedging Instruments | Fair Value Hedges | Interest Rate Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	20.3	18.5
Designated as Hedging Instruments | Fair Value Hedges | Interest Rate Contracts | LT other assets
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	0	6.4
Designated as Hedging Instruments | Fair Value Hedges | Interest Rate Contracts | Accrued expenses
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	2.1	3.3
Designated as Hedging Instruments | Fair Value Hedges | Interest Rate Contracts | LT other liabilities
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	32.8	4.6
Designated as Hedging Instruments | Net Investment Hedging | Other current assets
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	42.3	0.2
Designated as Hedging Instruments | Net Investment Hedging | Accrued expenses
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	1.6	25.7
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	32.3	73.9
Fair value of liability derivatives	94.4	55.3
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	32.3	73.9
Not Designated as Hedging Instrument | Foreign Exchange Contracts | LT other assets
Derivatives, Fair Value [Line Items]
Fair value of asset derivatives	0	0
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Accrued expenses
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	89.3	46.4
Not Designated as Hedging Instrument | Foreign Exchange Contracts | LT other liabilities
Derivatives, Fair Value [Line Items]
Fair value of liability derivatives	5.1	8.9
Notes payable due 2013 | Fair Value Hedges | Fixed-to-Floating Interest Rate Swaps Terminated
Derivatives, Fair Value [Line Items]
Notional Amount of Interest Rate Derivatives			250
Notes payable due 2014 | Fair Value Hedges | Fixed-to-Floating Interest Rate Swaps Terminated
Derivatives, Fair Value [Line Items]
Notional Amount of Interest Rate Derivatives			$ 300

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Restructuring Charges - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012	Dec. 29, 2012
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	$ (42.9)	$ (40.0)
Facility closure costs	13.3	2.3
Restructuring reserves	125.3		125.2
Restructuring Reserve, Translation Adjustment	(3.2)
Restructuring Reserve, Settled with Cash	(39.6)
2012 Actions
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(45.3)
Restructuring reserves	22.9		0
Restructuring Reserve, Translation Adjustment	(0.7)
Restructuring Reserve, Settled with Cash	(21.7)
Pre-2012 Actions
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	2.4
Restructuring reserves	102.4		125.2
Restructuring Reserve, Translation Adjustment	(2.5)
Restructuring Reserve, Settled with Cash	(17.9)
Construction and Do It Yourself
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(1.0)
Securities Industry
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(24.9)
Industrial Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(2.5)
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(16.5)
Long Lived Asset Impairments [Member] | 2012 Actions
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(16.5)
Restructuring reserves	0		0
Restructuring Reserve, Translation Adjustment	0
Restructuring Reserve, Settled with Cash	(16.5)
Facility closures | 2012 Actions
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(7.2)
Restructuring reserves	3.4		0
Restructuring Reserve, Translation Adjustment	(0.2)
Restructuring Reserve, Settled with Cash	(3.6)
Facility closures | Pre-2012 Actions
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(0.1)
Restructuring reserves	12.5		13.1
Restructuring Reserve, Translation Adjustment	0
Restructuring Reserve, Settled with Cash	(0.7)
Severance and related costs | 2012 Actions
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(21.6)
Restructuring reserves	19.5		0
Restructuring Reserve, Translation Adjustment	(0.5)
Restructuring Reserve, Settled with Cash	(1.6)
Severance and related costs | Pre-2012 Actions
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(2.5)
Restructuring reserves	89.9		112.1
Restructuring Reserve, Translation Adjustment	(2.5)
Restructuring Reserve, Settled with Cash	(17.2)
Acquisition
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(45.3)
Number of employees reduced	250
Acquisition | Facility closures
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(7.2)
Acquisition | Asset Impairment Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	(16.5)
Acquisition | Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges and asset impairments recognized	$ (21.6)

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Accumulated Other Comprehensive Income - Reclassifications out of AOCI (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Accumulated other comprehensive income (loss):
Earnings from continuing operations	$ 81.6	$ 105.6
Income taxes on continuing operations	(8.8)	(29.8)
Net Earnings - basic	81.0	121.6
Reclassifications from accumulated other comprehensive income (loss) to earnings | Unrealized (losses) gains on cash flow hedges, net of tax
Accumulated other comprehensive income (loss):
Income taxes on continuing operations	2.1
Net Earnings - basic	(3.5)
Reclassifications from accumulated other comprehensive income (loss) to earnings | Unrealized (losses) gains on cash flow hedges, net of tax | Interest Rate Contracts
Accumulated other comprehensive income (loss):
Cost of sales	(5.6)
Reclassifications from accumulated other comprehensive income (loss) to earnings | Pension (losses) gains, net of tax
Accumulated other comprehensive income (loss):
Earnings from continuing operations	(2.6)
Income taxes on continuing operations	0.8
Net Earnings - basic	(1.8)
Reclassifications from accumulated other comprehensive income (loss) to earnings | Pension (losses) gains, net of tax | Cost of sales
Accumulated other comprehensive income (loss):
Actuarial losses, reclassification to Statements of Operations and Comprehensive Income	(1.6)
Reclassifications from accumulated other comprehensive income (loss) to earnings | Pension (losses) gains, net of tax | Selling, general and administrative
Accumulated other comprehensive income (loss):
Actuarial losses, reclassification to Statements of Operations and Comprehensive Income	$ (1.0)

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Acquisitions - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended					12 Months Ended	3 Months Ended				12 Months Ended		3 Months Ended	12 Months Ended			1 Months Ended
	Mar. 30, 2013	Mar. 31, 2012	Dec. 29, 2012	Mar. 30, 2013 Industrial Segment	Dec. 29, 2012 Industrial Segment	Dec. 29, 2012 Acquisition	Mar. 30, 2013 Infastech [Member]	Mar. 30, 2013 Infastech [Member] Trade names	Mar. 30, 2013 Infastech [Member] Customer relationships	Mar. 30, 2013 Infastech [Member] Technology [Member]	Dec. 29, 2012 AeroScout [Member]	Dec. 29, 2012 Powers [Member]	Mar. 30, 2013 Powers & Aeroscout [Member]	Dec. 29, 2012 Lista North America [Member]	Dec. 29, 2012 Tong Lung [Member] [Member]	Dec. 29, 2012 Other Acquisitions [Member] Acquisition	Jan. 31, 2013 Subsequent Event [Member] Tong Lung [Member] [Member]	Mar. 30, 2013 Tong Lung [Member] [Member]	Dec. 29, 2012 Tong Lung [Member] [Member]
Business Acquisition [Line Items]
Assets Held-for-sale, Current	$ 83.9		$ 135.2															$ 83.9	$ 133.4
Cash and cash equivalents							82.0
Number of Businesses Acquired						7										5
Goodwill	7,338.9		7,021.1	1,730.7	1,394.3
Purchase price for acquisitions	853.9	114.7				696.0	826.4				238.8	220.5		89.7	102.8	236.7	12.0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Debt Assumed, Short-term															20.1
Assets acquired, Other intangible assets								20.0	380.0	57.0			185.4
Cash Acquired from Acquisition													7.7
Business Acquisition, Purchase Price Allocation, Liabilities Assumed													108.4
Goodwill							369.6						276.7
Business Acquisition, Purchase Price Allocation, Assets Acquired													298.7
Percentage of ownership interest															89.00%
Weighted-average useful lives								15 years	20 years	10 years
Net Sales	48.4
Net (Loss) Income	3.9
Accounts and notes receivable, net							118.4
Business Acquisition, Purchase Price Allocation, Current Assets, Inventory							90.5
Prepaid expenses and other current assets							6.0
Property, plant and equipment							39.8
Other assets							3.8
Business Acquisition, Purchase Price Allocation, Current Liabilities, Long-term Debt							(0.2)
Business Acquisition, Purchase Price Allocation, Current Liabilities, Accounts Payable							98.6
Business Acquisition, Purchase Price Allocation, Current Liabilities, Other Liabilities							(32.0)
Business Acquisition Purchase Price Allocation Deferred Income Tax Liabilities Noncurrent							(125.4)
Business Acquisition, Purchase Price Allocation, Other Noncurrent Liabilities							(2.5)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net							538.8
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net							908.4
Inventories, net	$ 1,539.7		$ 1,316.0

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Financing Receivables

3 Months Ended

Mar. 30, 2013

Financing Receivables

Financing Receivables

Long-term trade financing receivables of $146.4 million at both March 30, 2013 and December 29, 2012 are reported within other assets in the Condensed Consolidated Balance Sheets. Financing receivables and long-term financing receivables are predominately related to certain security equipment leases with commercial businesses. Generally, the Company retains legal title to any equipment leases and bears the right to repossess such equipment in an event of default. All financing receivables are interest bearing and the Company has not classified any financing receivables as held-for-sale. Interest income earned from financing receivables that are not delinquent is recorded on the effective interest method. The Company considers any financing receivable that has not been collected within 90 days of original billing date as past-due or delinquent. Additionally, the Company considers the credit quality of all past-due or delinquent financing receivables as nonperforming.

The Company has an accounts receivable sale program that expires on December 11, 2014. According to the terms of that program the Company is required to sell certain of its trade accounts receivables at fair value to a wholly owned, consolidated, bankruptcy-remote special purpose subsidiary (“BRS”). The BRS, in turn, must sell such receivables to a third-party financial institution (“Purchaser”) for cash and a deferred purchase price receivable. The Purchaser’s maximum cash investment in the receivables at any time is $100.0 million. The purpose of the program is to provide liquidity to the Company. The Company accounts for these transfers as sales under ASC 860 “Transfers and Servicing”. Receivables are derecognized from the Company’s Consolidated Balance Sheets when the BRS sells those receivables to the Purchaser. The Company has no retained interests in the transferred receivables, other than collection and administrative responsibilities and its right to the deferred purchase price receivable. At March 30, 2013, the Company did not record a servicing asset or liability related to its retained responsibility, based on its assessment of the servicing fee, market values for similar transactions and its cost of servicing the receivables sold.

At March 30, 2013 and December 29, 2012, $55.2 million and $80.0 million, respectively, of net receivables were derecognized. Gross receivables sold amounted to $262.0 million ($238.9 million, net) and $257.1 million ($228.3 million, net) for the three months ended March 30, 2013 and March 31, 2012, respectively. These sales resulted in pre-tax losses of $0.6 million for both the three months ended March 30, 2013 and March 31, 2012. Proceeds from transfers of receivables to the Purchaser totaled $192.4 million and $197.4 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Collections of previously sold receivables, including deferred purchase price receivables, and all fees, which are settled one month in arrears, resulted in payments to the Purchaser of $217.1 million and $229.0 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Servicing fees amounted to $0.1 million and less than $0.1 million for the three months ended March 30, 2013 and March 31, 2012, respectively.

The Company’s risk of loss following the sale of the receivables is limited to the deferred purchase price receivable, which was $110.4 million at March 30, 2013 and $45.0 million at December 29, 2012. The deferred purchase price receivable will be repaid in cash as receivables are collected, generally within 30 days, and as such the carrying value of the receivable recorded approximates fair value. There were no delinquencies and credit losses on receivables sold for the three months ended March 30, 2013. Delinquencies and credit losses on receivables sold were less than $0.1 million for the three months ended March 31, 2012. Cash inflows related to the deferred purchase price receivable totaled $73.6 million and $63.5 million for the three months ended March 30, 2013 and March 31, 2012, respectively. All cash flows under the program are reported as a component of changes in accounts receivable within operating activities in the condensed consolidated statements of cash flows since all the cash from the Purchaser is either: 1) received upon the initial sale of the receivable; or 2) from the ultimate collection of the underlying receivables and the underlying receivables are not subject to significant risks, other than credit risk, given their short-term nature.

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Components of Net Periodic Benefit Cost (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Pension Benefit, U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1.9	$ 1.7
Interest cost	13.3	15.5
Expected return on plan assets	(16.1)	(16.7)
Amortization of prior service cost (credit)	0.3	0.2
Amortization of net loss	1.6	1.5
Curtailment loss	0	0
Net periodic benefit cost	1.0	2.2
Pension Benefits, Non-U.S Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	3.5	2.9
Interest cost	11.0	11.8
Expected return on plan assets	(10.5)	(11.0)
Amortization of prior service cost (credit)	0.1	0.1
Amortization of net loss	1.2	0.8
Curtailment loss	(0.1)	0.3
Net periodic benefit cost	5.2	4.9
Other Benefits, U.S Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0.2
Interest cost	0.6	0.7
Expected return on plan assets	0	0
Amortization of prior service cost (credit)	(0.3)	(0.3)
Amortization of net loss	0	0
Curtailment loss	0	0
Net periodic benefit cost	$ 0.5	$ 0.6

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Weighted-Average Stock Options and Warrants Outstanding Not included in Computation of Diluted Shares Outstanding (Detail) (Convertible Notes Payable Due 2012 [Member], Convertible Notes Payable [Member], USD $) In Millions, except Share data, unless otherwise specified	2 Months Ended
	Sep. 30, 2012	Sep. 29, 2012
Convertible Notes Payable Due 2012 [Member] | Convertible Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of EPS	4,938,624
Debt instrument, face amount		$ 320.0

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Acquisitions (Tables)

3 Months Ended

Mar. 30, 2013

Estimated Fair Values of Major Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of major assets acquired and liabilities assumed:

(Millions of Dollars)
Cash and cash equivalents	$	82.0
Accounts and notes receivable, net	118.4
Inventories, net	90.5
Prepaid expenses and other current assets	6.0
Property, plant and equipment	39.8
Trade names	20.0
Customer relationships	380.0
Technology	57.0
Other assets	3.8
Short-term borrowings	(0.2		)
Accounts payable	(98.6		)
Accrued expenses	(32.0		)
Deferred taxes	(125.4		)
Other liabilities	(2.5		)
Total identifiable net assets	$	538.8
Goodwill	369.6
Total consideration transferred	$	908.4

Actual Impact from Acquisitions

The Company's Consolidated Statements of Operations and Comprehensive Income for the first quarter of 2013 include $48.4 million in net sales and $3.9 million in net losses from 2013 acquisitions.

Pro-forma Impact from Acquisitions

	Year-to-Date
(Millions of Dollars, except per share amounts)	2013		2012
Net sales	$	2,575.5	$	2,619.8
Net earnings attributable to common shareowners	98.6		106.1
Diluted earnings per share-continuing operations	0.62		0.63

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Inventories (Tables)

3 Months Ended

Mar. 30, 2013

Components of Inventories

The components of inventories, net at March 30, 2013 and December 29, 2012 are as follows (in millions):

	2013		2012
Finished products	$	1,144.7	$	962.0
Work in process	133.5		124.1
Raw materials	261.5		229.9
Total	$	1,539.7	$	1,316.0

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Details of Foreign Exchange Contracts Pre-Tax Amounts (Detail) (Net Investment Hedging, Foreign Exchange Contracts, Other, net, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013		Mar. 31, 2012
Net Investment Hedging | Foreign Exchange Contracts | Other, net
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Amount Recorded in OCI Gain (Loss)	$ 58.8		$ (31.8)
Effective Portion Recorded in Income Statement	0		0
Ineffective Portion Recorded in Income Statement	$ 0	[1]	$ 0	[1]

[1] Includes ineffective portion and amount excluded from effectiveness testing.

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Earnings Per Share - Additional Information (Detail) (Stock Options [Member]) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Stock Options [Member]
Stockholders Equity Note [Line Items]
Antidilutive securities excluded from the computation of EPS	995	1,686

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Goodwill (Tables)

3 Months Ended

Mar. 30, 2013

Changes in Carrying Amount of Goodwill by Segment

Changes in the carrying amount of goodwill by segment are as follows:

(Millions of Dollars)	CDIY			Industrial			Security			Total
Balance December 29, 2012	$	3,030.5		$	1,394.3		$	2,596.3		$	7,021.1
Addition from acquisitions	1.1			367.8			42.0			410.9
Foreign currency translation	(44.2		)	(31.4		)	(17.5		)	(93.1		)
Balance March 30, 2013	$	2,987.4		$	1,730.7		$	2,620.8		$	7,338.9

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Long-Term Debt and Financing Arrangements (Tables)

3 Months Ended

Mar. 30, 2013

Long-Term Debt and Financing Arrangements

Long-term debt and financing arrangements at March 30, 2013 and December 29, 2012 follow:

	Interest Rate	2013			2012
Notes payable due 2016	5.75%	325.1			326.8
Notes payable due in 2018 (junior subordinated)	4.25%	632.5			632.5
Notes payable due 2021	3.40%	410.7			417.1
Notes payable due 2022	2.90%	799.3			799.3
Notes payable due 2028	7.05%	164.7			169.6
Notes payable due 2040	5.20%	384.7			404.4
Notes payable due 2052 (junior subordinated)	5.75%	750.0			750.0
Other, payable in varying amounts through 2021	0.00% – 7.14%	37.7			37.2
Total long-term debt, including current maturities		$	3,504.7		$	3,536.9
Less: Current maturities of long-term debt		(10.6		)	(10.4		)
Long-term debt		$	3,494.1		$	3,526.5

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Earnings Per Share

3 Months Ended

Mar. 30, 2013

Earnings Per Share

Earnings Per Share

The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate basic and diluted earnings per share for the three months ended March 30, 2013 and March 31, 2012:

	Year-to-Date
	2013			2012
Numerator (in millions):
Net earnings from continuing operations attributable to common shareowners	$	82.0		$	106.3
Net (loss) earnings from discontinued operations	(0.9		)	15.5
Net earnings attributable to common shareowners	$	81.1		$	121.8
Less: Earnings attributable to participating restricted stock units (“RSU’s”)	(0.1		)	(0.2		)
Net Earnings — basic	$	81.0		$	121.6
Net Earnings — dilutive	$	81.1		$	121.8

	Year-to-Date
	2013			2012
Denominator (in thousands):
Basic earnings per share — weighted-average shares	155,552			164,530
Dilutive effect of stock options, awards and convertible preferred units and notes	3,442			4,418
Diluted earnings per share — weighted-average shares	158,994			168,948
Earnings per share of common stock:
Basic earnings per share of common stock:
Continuing operations	$	0.53		$	0.65
Discontinued operations	(0.01		)	0.09
Total basic earnings per share of common stock	$	0.52		$	0.74
Diluted earnings per share of common stock:
Continuing operations	$	0.52		$	0.63
Discontinued operations	(0.01		)	0.09
Total dilutive earnings per share of common stock	$	0.51		$	0.72

The following weighted-average stock options and warrants were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in thousands):

	Year-to-Date
	2013	2012
Number of stock options	995	1,686
Number of stock warrants	—	4,939

During August and September 2012, 4,938,624 stock warrants expired which were associated with the $320.0 million convertible notes that matured in May 2012. No shares were issued upon their expiration as the warrants were out of the money.

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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 30, 2013

Summary of Fair Value of Derivatives

A summary of the fair value of the Company’s derivatives recorded in the Consolidated Balance Sheets at March 30, 2013 and December 29, 2012 follows (in millions):

	Balance Sheet Classification	2013		2012		Balance Sheet Classification	2013		2012
Derivatives designated as hedging instruments:
Interest Rate Contracts Fair Value	Other current assets	20.3		18.5		Accrued expenses	2.1		3.3
	LT other assets	—		6.4		LT other  liabilities	32.8		4.6
Foreign Exchange Contracts Cash Flow	Other current assets	2.4		—		Accrued expenses	1.1		2.6
Net Investment Hedge	Other current assets	42.3		0.2		Accrued expenses	1.6		25.7
		$	65.0	$	25.1		$	37.6	$	36.2
Derivatives not designated as hedging instruments:
Foreign Exchange Contracts	Other current assets	$	32.3	$	73.9	Accrued expenses	$	89.3	$	46.4
	LT other assets	—		—		LT other liabilities	5.1		8.9
		$	32.3	$	73.9		$	94.4	$	55.3

Detail Pre-tax Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) into Earnings for Active Derivative Financial Instruments

The tables below detail pre-tax amounts reclassified from accumulated other comprehensive income (loss) into earnings for active derivative financial instruments during the periods in which the underlying hedged transactions affected earnings for the three months ended March 30, 2013 and March 31, 2012 (in millions):

Year-to-date 2013 (In millions)	Gain (Loss) Recorded in  OCI		Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)			Gain (Loss) Recognized  in Income (Ineffective Portion*)
Foreign Exchange Contracts	$	3.1	Cost of Sales	$	(1.8	)	$	—

Year-to-date 2012 (In millions)	Gain (Loss) Recorded in  OCI			Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)		Gain (Loss) Recognized  in Income (Ineffective Portion*)
Interest Rate Contracts	$	1.4		Interest expense	$	—	$	—
Foreign Exchange Contracts	$	(1.2	)	Cost of sales	$	4.9	—

 * Includes ineffective portion and amount excluded from effectiveness testing on derivatives.

Fair Value Adjustments Relating to Swaps

A summary of the fair value adjustments relating to these swaps is as follows (in millions):

	Year-to-Date 2013		Year-to-Date 2012
Income Statement Classification	Gain/(Loss)  on Swaps	Gain /(Loss)  on Borrowings	Gain/(Loss)  on Swaps			Gain /(Loss)  on Borrowings
Interest Expense	$(30.4)	$30.4	$	(2.6	)	$	2.6

Details of Foreign Exchange Contracts Pre-Tax Amounts

The pre-tax gain or loss from year-to-date fair value changed was as follows (in millions):

	Year-to-Date 2013						Year-to-Date 2012
Income Statement Classification	Amount Recorded in  OCI Gain (Loss)		Effective Portion Recorded in  Income Statement		Ineffective Portion* Recorded in Income Statement		Amount Recorded in  OCI Gain (Loss)			Effective Portion Recorded in  Income Statement		Ineffective Portion* Recorded in Income Statement
Other-net	$	58.8	$	—	$	—	$	(31.8	)	$	—	$	—

 * Includes ineffective portion and amount excluded from effectiveness testin

Income Statement Impacts Related to Derivatives Not Designated as Hedging Instruments

The income statement impacts related to derivatives not designated as hedging instruments for 2013 and 2012 are as follows (in millions):

Derivatives Not Designated as Hedging Instruments under ASC 815	Income Statement Classification	Year-to-Date 2013 Amount of Gain (Loss) Recorded in Income on Derivative			Year-to-Date 2012 Amount of Gain (Loss) Recorded in Income on Derivative
Foreign Exchange Contracts	Other-net	$	(60.6	)	$	(8.7	)

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Parent and Subsidiary Debt Guarantees (Tables)

3 Months Ended

Mar. 30, 2013

Condensed Consolidating Statement of Operations and Comprehensive Income

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Operations and Comprehensive Income

(Unaudited, Millions of Dollars)

Three Months Ended March 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET SALES	$	311.8		$	—		$	2,261.9		$	(86.5	)	$	2,487.2
COSTS AND EXPENSES
Cost of sales	231.4			—			1,416.2			(71.3		)	1,576.3
Selling, general and administrative	170.8			0.7			513.6			(15.2		)	669.9
Other - net	(20.2		)	(15.5		)	106.7			—			71.0
Restructuring charges and asset impairments	16.5			—			26.4			—			42.9
Interest expense, net	30.3			6.6			(0.2		)	—			36.7
	428.8			(8.2		)	2,062.7			(86.5		)	2,396.8
(Loss) earnings from continuing operations before income taxes (benefit) and equity in earnings of subsidiaries	(117.0		)	8.2			199.2			—			90.4
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	(43.3		)	3.0			49.1			—			8.8
Equity in earnings of subsidiaries	155.7			114.9			—			(270.6		)	—
Earnings from continuing operations	82.0			120.1			150.1			(270.6		)	81.6
Less: net loss attributable to non-controlling interests	—			—			(0.4		)	—			(0.4		)
Net earnings from continuing operations attributable to common shareholders	$	82.0		$	120.1		$	150.5		$	(270.6	)	$	82.0
Net loss from discontinued operations	$	(0.9	)	$	—		$	(0.9	)	$	0.9		$	(0.9	)
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS	$	81.1		$	120.1		$	149.6		$	(269.7	)	$	81.1
Total Comprehensive (Loss) Income Attributable to Common Shareowners	$	(61.1	)	$	26.4		$	(53.1	)	$	26.7		$	(61.1	)

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Operations and Comprehensive Income

(Unaudited, Millions of Dollars)

Three Months EndedMarch 31, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
NET SALES	$	338.4		$	—		$	2,177.7		$	(90.0	)	$	2,426.1
COSTS AND EXPENSES
Cost of sales	220.3			—			1,365.3			(71.5		)	1,514.1
Selling, general and administrative	168.4			6.1			481.3			(18.5		)	637.3
Other - net	(12.9		)	(17.8		)	98.6			—			67.9
Restructuring charges and asset impairments	—			—			40.0			—			40.0
Interest expense, net	20.4			11.7			(0.7		)	—			31.4
	396.2			—			1,984.5			(90.0		)	2,290.7
(Loss) earnings from continuing operations before income taxes and equity in earnings of subsidiaries	(57.8		)	—			193.2			—			135.4
Income taxes (benefit) on continuing operations before equity in earnings of subsidiaries	(17.9		)	—			47.7			—			29.8
Equity in earnings of subsidiaries	146.2			109.0			—			(255.2		)	—
Earnings from continuing operations	106.3			109.0			145.5			(255.2		)	105.6
Less: net loss attributable to non-controlling interests	—			—			(0.7		)	—			(0.7		)
Net earnings from continuing operations attributable to common shareholders	$	106.3		$	109.0		$	146.2		$	(255.2	)	$	106.3
Net earnings from discontinued operations	$	15.5		$	14.5		$	15.5		$	(30.0	)	$	15.5
NET EARNINGS ATTRIBUTABLE TO COMMON SHAREOWNERS	$	121.8		$	123.5		$	161.7		$	(285.2	)	$	121.8
Total Comprehensive Income Attributable to Common Shareowners	$	198.7		$	54.0		$	270.0		$	(324.0	)	$	198.7

Condensed Consolidating Balance Sheet

Stanley Black & Decker, Inc.

Condensed Consolidating Balance Sheet

(Unaudited, Millions of Dollars)

March 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	1.0		$	0.3		$	556.2		$	—		$	557.5
Accounts and notes receivable, net	86.0			—			1,696.7			—			1,782.7
Inventories, net	152.6			—			1,387.1			—			1,539.7
Assets held for sale	—			—			83.9						83.9
Other current assets	126.9			—			335.2			—			462.1
Total Current Assets	366.5			0.3			4,059.1			—			4,425.9
Property, plant and equipment, net	200.0			—			1,154.6			—			1,354.6
Goodwill and intangibles, net	148.2			1,412.7			9,118.5			—			10,679.4
Investment in subsidiaries	10,574.1			2,883.8			—			(13,457.9		)	—
Intercompany receivables	—			7,604.9			8,397.4			(16,002.3		)	—
Other assets	55.1			70.1			312.4			—			437.6
Total Assets	$	11,343.9		$	11,971.8		$	23,042.0		$	(29,460.2	)	$	16,897.5
LIABILITIES AND SHAREOWNERS’ EQUITY
Current Liabilities
Short-term borrowings	$	1,330.6		$	—		$	1.3		$	—		$	1,331.9
Current maturities of long-term debt	5.5			2.8			2.3			—			10.6
Accounts payable and accrued expenses	122.9			4.4			2,655.1			—			2,782.4
Liabilities held for sale	—			—			7.7						7.7
Total Current Liabilities	1,459.0			7.2			2,666.4			—			4,132.6
Long-term debt	3,001.2			322.3			170.6			—			3,494.1
Other liabilities	12.7			659.0			1,940.0			—			2,611.7
Intercompany payables	256.3			8,615.2			7,130.8			(16,002.3		)	—
Accumulated other comprehensive loss	(530.2		)	(794.9		)	(336.5		)	1,131.4			(530.2		)
Other shareowners’ equity	7,144.9			3,163.0			11,426.3			(14,589.3		)	7,144.9
Non-controlling interests	—			—			44.4			—			44.4
Total Shareowners’ Equity	6,614.7			2,368.1			11,134.2			(13,457.9		)	6,659.1
Total Liabilities and Shareowners’ Equity	$	11,343.9		$	11,971.8		$	23,042.0		$	(29,460.2	)	$	16,897.5

Stanley Black & Decker, Inc.

Condensed Consolidating Balance Sheet

(Millions of Dollars)

December 29, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets
Cash and cash equivalents	$	83.5		$	1.5		$	631.0		$	—		$	716.0
Accounts and notes receivable, net	111.5			0.7			1,425.4			—			1,537.6
Inventories, net	139.9			—			1,176.1			—			1,316.0
Assets held for sale	—			—			135.2			—			135.2
Other current assets	46.8			—			347.3			—			394.1
Total Current Assets	381.7			2.2			3,715.0			—			4,098.9
Property, plant and equipment, net	217.4			—			1,116.2			—			1,333.6
Goodwill and intangibles, net	148.2			1,415.1			8,392.2			—			9,955.5
Investment in subsidiaries	10,530.1			2,861.9			—			(13,392.0		)	—
Intercompany receivables	—			7,763.2			8,916.7			(16,679.9		)	—
Other assets	57.8			70.1			328.1			—			456.0
Total Assets	$	11,335.2		$	12,112.5		$	22,468.2		$	(30,071.9	)	$	15,844.0
LIABILITIES AND SHAREOWNERS’ EQUITY
Current Liabilities
Short-term borrowings	$	—		$	—		$	1.1		$	—		$	1.1
Current maturities of long-term debt	5.3			2.8			2.3			—			10.4
Accounts payable and accrued expenses	288.6			37.7			2,704.9			—			3,031.2
Liabilities held for sale	—			—			30.9						30.9
Total Current Liabilities	293.9			40.5			2,739.2			—			3,073.6
Long-term debt	3,028.0			324.0			174.5			—			3,526.5
Other liabilities	(54.5		)	619.8			1,951.5			—			2,516.8
Intercompany payables	1,400.7			9,291.8			5,987.4			(16,679.9		)	—
Accumulated other comprehensive loss	(388.0		)	(701.2		)	(133.8		)	835.0			(388.0		)
Other shareowners’ equity	7,055.1			2,537.6			11,689.4			(14,227.0		)	7,055.1
Non-controlling interests	—			—			60.0			—			60.0
Total Shareowners’ Equity	6,667.1			1,836.4			11,615.6			(13,392.0		)	6,727.1
Total Liabilities and Shareowners’ Equity	$	11,335.2		$	12,112.5		$	22,468.2		$	(30,071.9	)	$	15,844.0

Condensed Consolidating Statement of Cash Flows

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Cash Flow

(Unaudited, Millions of Dollars)

Three Months EndedMarch 30, 2013

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash (used in) provided by operating activities	$	(498.5	)	$	(1.7	)	$	352.7		$	—		$	(147.5	)
Investing Activities
Capital expenditures	(9.4		)	—			(70.1		)	—			(79.5		)
Business acquisitions, net of cash acquired	—			—			(853.9		)	—			(853.9		)
Proceeds from sale of assets	—			—			1.0			—			1.0
Intercompany payables and receivables	(877.7		)	(27.8		)	—			905.5			—
Payments on net investment hedge settlements	(9.2		)	—			—			—			(9.2		)
Cash (used in) provided by investing activities	(896.3		)	(27.8		)	(923.0		)	905.5			(941.6		)
Financing Activities
Payments on long-term debt	(0.3		)	—			(0.3		)	—			(0.6		)
Stock purchase contract fees	(0.8		)	—			—			—			(0.8		)
Net short-term borrowings	1,330.4			—			0.1			—			1,330.5
Cash dividends on common stock	(79.1		)	—			—			—			(79.1		)
Payment on forward stock purchase contract	—			—			(350.0		)	—			(350.0		)
Proceeds from the issuance of common stock	83.2			—			—			—			83.2
Purchases of common stock for treasury	(21.1		)	—			—			—			(21.1		)
Intercompany payables and receivables	—			28.3			877.2			(905.5		)	—
Cash provided (used in) by financing activities	1,312.3			28.3			527.0			(905.5		)	962.1
Effect of exchange rate changes on cash and cash equivalents	—			—			(31.5		)	—			(31.5		)
Change in cash and cash equivalents	(82.5		)	(1.2		)	(74.8		)	—			(158.5		)
Cash and cash equivalents, beginning of period	83.5			1.5			631.0			—			716.0
Cash and cash equivalents, end of period	$	1.0		$	0.3		$	556.2		$	—		$	557.5

Stanley Black & Decker, Inc.

Condensed Consolidating Statements of Cash Flow

(Unaudited, Millions of Dollars)

Three Months EndedMarch 31, 2012

	Parent Stanley Black & Decker, Inc.			The Black & Decker Corporation			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash (used in) provided by operating activities	$	(267.9	)	$	(27.9	)	$	263.5		$	—		$	(32.3	)
Investing Activities
Capital expenditures	(10.3		)	—			(51.2		)	—			(61.5		)
Business acquisitions, net of cash acquired	(93.8		)	—			(20.9		)	—			(114.7		)
Proceeds from sale of assets	0.9			—			1.0			—			1.9
Intercompany payables and receivables	175.4			185.0			—			(360.4		)	—
Proceeds on net investment hedge settlements	—			2.0			—			—			2.0
Cash provided (used in) by investing activities	72.2			187.0			(71.1		)	(360.4		)	(172.3		)
Financing Activities
Payments on long-term debt	(0.3		)	—			—			—			(0.3		)
Stock purchase contract fees	(0.8		)	—			—			—			(0.8		)
Net short-term borrowings (repayments)	196.9			—			(0.1		)	—			196.8
Cash dividends on common stock	(69.9		)	—			—			—			(69.9		)
Termination of interest rate swaps	15.2			20.6			—			—			35.8
Termination of forward starting interest rate swap	(56.4		)	—			—			—			(56.4		)
Proceeds from the issuance of common stock	64.6			—			—			—			64.6
Purchases of common stock for treasury	(10.9		)	—			—			—			(10.9		)
Intercompany payables and receivables	—			(161.4		)	(199.0		)	360.4			—
Cash provided by (used in) financing activities	138.4			(140.8		)	(199.1		)	360.4			158.9
Effect of exchange rate changes on cash and cash equivalents	—			—			22.4			—			22.4
Change in cash and cash equivalents	(57.3		)	18.3			15.7			—			(23.3		)
Cash and cash equivalents, beginning of period	56.2			1.4			849.3			—			906.9
Cash and cash equivalents, end of period	$	(1.1	)	$	19.7		$	865.0		$	—		$	883.6

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Derivative Financial Instruments - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended				3 Months Ended			1 Months Ended	3 Months Ended																	1 Months Ended
	Mar. 30, 2013	Mar. 31, 2012	Dec. 29, 2012	Jan. 31, 2012	Mar. 30, 2013 Cash Flow Hedges	Mar. 31, 2012 Cash Flow Hedges	Dec. 29, 2012 Cash Flow Hedges	Jan. 31, 2012 Fair Value Hedges	Mar. 30, 2013 Fair Value Hedges	Mar. 31, 2012 Fair Value Hedges	Dec. 31, 2009 Interest Rate Swap Cash Flow Hedges	Dec. 31, 2009 Interest Rate Contracts Cash Flow Hedges	Jan. 31, 2012 Fixed-to-Floating Interest Rate Swaps Terminated Cash Flow Hedges	Jan. 31, 2012 Fixed-to-Floating Interest Rate Swaps Terminated Fair Value Hedges Notes payable due 2014	Jan. 31, 2012 Fixed-to-Floating Interest Rate Swaps Terminated Fair Value Hedges Notes payable due 2016	Jan. 31, 2012 Fixed-to-Floating Interest Rate Swaps Terminated Fair Value Hedges Notes payable due 2012	Jan. 31, 2012 Fixed-to-Floating Interest Rate Swaps Terminated Fair Value Hedges Notes payable due 2013	Mar. 30, 2013 Foreign Exchange Forward Cash Flow Hedges	Dec. 29, 2012 Foreign Exchange Forward Cash Flow Hedges	Mar. 30, 2013 Foreign Exchange Option Cash Flow Hedges	Dec. 29, 2012 Foreign Exchange Option Cash Flow Hedges	Oct. 31, 2012 Interest Rate Risk Fair Value Hedges Notes 3 Point 4 Percent Due in 2021 [Member]	Oct. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2040	Jan. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2028	Jan. 31, 2012 Interest Rate Risk Fair Value Hedges Notes 7 Point 05 Percent Due in 2028 [Member]	Jul. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2014	Jan. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2014	Jan. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2016	Jan. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2012	Jul. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2013	Jan. 31, 2012 Interest Rate Risk Fair Value Hedges Notes payable due 2013	Mar. 30, 2013 Foreign Exchange Contracts Net Investment Hedging	Dec. 29, 2012 Foreign Exchange Contracts Net Investment Hedging	Mar. 30, 2013 Foreign Exchange Contracts Net Investment Hedging Currency, British Pound Sterling	Dec. 29, 2012 Foreign Exchange Contracts Net Investment Hedging Currency, British Pound Sterling	Mar. 30, 2013 Not Designated as Hedging Instrument Forward Contracts	Dec. 29, 2012 Not Designated as Hedging Instrument Forward Contracts	Mar. 30, 2013 Not Designated as Hedging Instrument Currency Swaps	Dec. 29, 2012 Not Designated as Hedging Instrument Currency Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Significant cash flows related to derivatives, net cash paid	$ (22.5)	$ (35.6)
After-tax gain (loss) for cash flow hedge effectiveness in accumulated other comprehensive loss					(87.0)		(93.5)
Cash flow gain (loss) hedge loss expected to be reclassified to earnings as hedged transactions occur or as amounts are amortized within the next 12 months					(11.8)
Gain (Loss) on hedged item in foreign currency cash flow hedge	(1.8)	(4.9)
Gain (loss) reclassified from accumulated other comprehensive loss into earnings					3.5	2.3
Notional amount of forward starting interest rate swaps	950		950								400		240	300	300	200	250					400	400	150		300				250
Stated interest rate																						3.40%	5.20%		7.05%	4.75%	4.75%	5.75%	4.90%	6.15%	6.15%
Derivative Instruments, Gain Recognized in Income																										11.1
Interest Only Period												10 years
Interest rate swaps, applicable fixed interest rate												4.7835%
Terminations of forward starting interest rate swap	0	56.4
Foreign exchange contracts notional values																		124.8	154.0															956.4	940.6
Derivative instrument maturity year																		2013		2013	2013
Notional amount of contracts outstanding																				126.0	173.0															3,200.0	4,300.0	99.4	105.6
Termination of interest rate swaps	0	35.8						35.8
Deferred gain from termination of interest rate swaps				28.0
Net swap accruals and amortization of gains on terminated swaps									6.0	6.6
Interest expense on underlying debt									11.4	9.7
Gain (loss) included in accumulated other comprehensive income (loss)																																(26.8)	(63.3)
Proceeds from net investment hedge settlements	9.2
Payments of net investment hedge settlements		$ 2.0

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Commitments and Contingencies - Additional Information (Detail) (USD $) In Millions, unless otherwise specified		12 Months Ended		3 Months Ended				3 Months Ended
	Mar. 30, 2013 sites	Dec. 29, 2012 Minimum	Mar. 30, 2013 Centredale Site	Mar. 30, 2013 Centredale Site Minimum	Mar. 30, 2013 Centredale Site Maximum	Mar. 30, 2013 Property, Plant and Equipment, Other Types	Dec. 29, 2012 Property, Plant and Equipment, Other Types	Mar. 30, 2013 Property, Plant and Equipment, Other Types Minimum	Mar. 30, 2013 Property, Plant and Equipment, Other Types Maximum
Loss Contingencies [Line Items]
Environmental Loss Contingency, Remediation Period Requested		30 years
Environmental remediation costs deemed probable and reasonably estimable				$ 68.1	$ 139.7			$ 138.7	$ 278.3
Environmental remediation costs, reserve			68.1			185.7	188.0
Superfund Sites	31
Reserve for environmental remediation costs, current						6.3
Reserve for environmental remediation costs, noncurrent						179.4
Accrual for Environmental Loss Contingencies, EPA Funded Amount						24.3
Accrual for Environmental Loss Contingencies, Obligation After EPA Funding						$ 161.4

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $) In Millions, except Share data in Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Net Sales	$ 2,487.2	$ 2,426.1
Costs and Expenses
Cost of sales	1,576.3	1,514.1
Selling, general and administrative	668.1	635.0
Provision for doubtful accounts	1.8	2.3
Other-net	71.0	67.9
Restructuring charges	42.9	40.0
Interest expense	39.9	33.9
Interest income	(3.2)	(2.5)
Costs and Expenses, Total	2,396.8	2,290.7
Earnings from continuing operations before income taxes	90.4	135.4
Income taxes on continuing operations	8.8	29.8
Earnings from continuing operations	81.6	105.6
Less: Net loss attributable to non-controlling interests	(0.4)	(0.7)
Net earnings from continuing operations attributable to common shareowners	82.0	106.3
Net (loss) earnings from discontinued operations	(0.9)	15.5
Net Earnings Attributable to Common Shareowners	81.1	121.8
Total Comprehensive (Loss) Income Attributable to Common Shareowners	$ (61.1)	$ 198.7
Basic earnings per share of common stock:
Continuing operations (in dollars per share)	$ 0.53	$ 0.65
Discontinued operations (in dollars per share)	$ (0.01)	$ 0.09
Total basic earnings per share of common stock	$ 0.52
Diluted earnings per share of common stock:
Continuing operations (in dollars per share)	$ 0.52	$ 0.63
Discontinued operations (in dollars per share)	$ (0.01)	$ 0.09
Total diluted earnings per share of common stock	$ 0.51	$ 0.72
Dividends per shares of common stock	$ 0.49	$ 0.41
Weighted Average Shares Outstanding (in thousands):
Basic (in shares)	155,552	164,530
Diluted (in shares)	158,994	168,948

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Financing Receivables - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 30, 2013	Mar. 31, 2012	Dec. 29, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Days Before Considered Past Due or Delinquent	90 days
Net receivables derecognized	$ 55.2		$ 80.0
Pre-tax loss from sale of receivables	0.6	0.6
Proceeds from transfers of receivables to the purchaser	192.4	197.4
Payment to the Purchaser	217.1	229.0
Sale of receivables, deferred purchase price	110.4		45.0
Delinquencies and credit losses on receivables sold		0.1
Cash inflows related to the deferred purchase price receivable	73.6	63.5
Gross receivables sold
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables sold	262.0	257.1
Net receivables sold
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables sold	238.9	228.3
Other assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long-term trade financing receivables	146.4		146.4
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash investment purchaser allowed to have in transferors receivables	100.0
Payment to the Purchaser, servicing fees	$ 0.1	$ 0.1

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Basis of Presentation

3 Months Ended

Mar. 30, 2013

Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (hereinafter referred to as “generally accepted accounting principles”) for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations for the interim periods have been included and are of a normal, recurring nature. Operating results for the three months ended March 30, 2013 are not necessarily indicative of the results that may be expected for a full fiscal year. For further information, refer to the consolidated financial statements and footnotes included in Stanley Black & Decker, Inc.’s (the “Company”) Form 10-K for the year ended December 29, 2012.

In December 2012, the Company sold its Hardware & Home Improvement business ("HHI"), including the residential portion of Tong Lung, to Spectrum Brands Holdings, Inc. ("Spectrum") for approximately $1.4 billion in cash. The purchase and sale agreement stipulated that the sale occur in a First and Second Closing. The First Closing, which excluded the residential portion of the Tong Lung business, occurred on December 17, 2012. The Second Closing occurred on April 8, 2013 in which the residential portion of the Tong Lung business was sold for $93.5 million in cash. The operating results of the residential portion of Tong Lung have been reported as discontinued operations in the Consolidated Statements of Operations and Comprehensive Income for the three months ended March 30, 2013, while the operating results of HHI have been reported as discontinued operations for the three months ended March 31, 2012. Net sales for discontinued operations totaled $22.3 million and $226.8 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Assets and liabilities held for sale relating to the residential portion of the Tong Lung business totaled $83.9 million and $7.7 million, respectively, as of March 30, 2013, and $133.4 million and $30.3 million, respectively, as of December 29, 2012. For further information regarding the HHI divestiture, refer to the Company's Form 10-K for the year ended December 29, 2012.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from these estimates.

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Summary of Capped Call (Equity Options) Issued (Detail) (Capped call (equity options), USD $) In Millions, except Share data, unless otherwise specified	1 Months Ended
	Nov. 30, 2010
Capped call (equity options)
Option Indexed to Issuer's Equity [Line Items]
Original Number of Options	8,433,123
Net Premium Paid	$ 50.3

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Net Periodic Benefit Cost - Defined Benefit Plans (Tables)

3 Months Ended

Mar. 30, 2013

Components of Net Periodic Benefit Cost

Following are the components of net periodic benefit cost for the three months ended March 30, 2013 and March 31, 2012 (in millions):

	Year-to-Date
	Pension Benefits												Other Benefits
	U.S. Plans						Non-U.S. Plans						All Plans
	2013			2012			2013			2012			2013			2012
Service cost	$	1.9		$	1.7		$	3.5		$	2.9		$	0.2		$	0.2
Interest cost	13.3			15.5			11.0			11.8			0.6			0.7
Expected return on plan assets	(16.1		)	(16.7		)	(10.5		)	(11.0		)	—			—
Amortization of prior service cost (credit)	0.3			0.2			0.1			0.1			(0.3		)	(0.3		)
Amortization of net loss	1.6			1.5			1.2			0.8			—			—
Curtailment (gain) loss	—			—			(0.1		)	0.3			—			—
Net periodic cost	$	1.0		$	2.2		$	5.2		$	4.9		$	0.5		$	0.6

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Other Costs and Expenses - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Business Acquisition [Line Items]
Merger and acquisition related costs	$ 15.6	$ 10.2

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Business Segments

3 Months Ended

Mar. 30, 2013

Business Segments

Business Segments

The Company classifies its business into three reportable segments, which also represent its operating segments: Construction & Do It Yourself (“CDIY”), Security, and Industrial.

The CDIY segment is comprised of the Professional Power Tool business, the Consumer Products Group, the Hand Tools & Storage business, and the Fastening & Accessories business. The Professional Power Tool business sells professional grade corded and cordless electric power tools and equipment including drills, impact wrenches and drivers, grinders, saws, routers and sanders. The Consumer Products Group sells corded and cordless electric power tools sold under the Black & Decker brand, lawn and garden products and home products. The Hand Tools & Storage business sells measuring and leveling tools, planes, hammers, demolition tools, knives, saws and chisels. The Fastening & Accessories business sells pneumatic tools and fasteners including nail guns, nails, staplers and staples, concrete and masonry anchors, as well as power tool accessories which include drill bits, router bits, abrasives and saw blades.

The Security segment is comprised of the Convergent Security Solutions ("CSS") and the Mechanical Access Solutions ("MAS") businesses. The CSS business designs, supplies and installs electronic security systems and provides electronic security services, including alarm monitoring, video surveillance, fire alarm monitoring, systems integration and system maintenance. Purchasers of these systems typically contract for ongoing security systems monitoring and maintenance at the time of initial equipment installation. The business also includes healthcare solutions, which markets medical carts and cabinets, asset tracking, infant protection, pediatric protection, patient protection, wander management, fall management, and emergency call products. The MAS business sells automatic doors, commercial hardware, locking mechanisms, electronic keyless entry systems, keying systems, tubular and mortise door locksets.

The Industrial segment is comprised of the Industrial and Automotive Repair ("IAR"), Engineered Fastening and Infrastructure businesses. The IAR business sells hand tools, power tools, and engineered storage solution products. The Engineered Fastening business primarily sells engineered fastening products and systems designed for specific applications. The product lines include stud welding systems, blind rivets and tools, blind inserts and tools, drawn arc weld studs, engineered plastic and mechanical fasteners, self-piercing riveting systems, precision nut running systems, micro fasteners, and high-strength structural fasteners & plastics. The Infrastructure business consists of the CRC-Evans business and the Company’s Hydraulics business. The product lines include custom pipe handling machinery, joint welding and coating machinery, weld inspection services and hydraulic tools and accessories.

The Company utilizes segment profit, which is defined as net sales minus cost of sales and selling, general, and administrative ("SG&A") inclusive of the provision for doubtful accounts (aside from corporate overhead expense), and segment profit as a percentage of net sales to assess the profitability of each segment. Segment profit excludes the corporate overhead expense element of SG&A, interest income, interest expense, other-net (inclusive of intangible asset amortization expense), restructuring, and income taxes. Refer to Note O, Restructuring & Asset Impairments, for the amount of restructuring charges and asset impairments by segment. Corporate overhead is comprised of world headquarters facility expenses, cost for the executive management team and costs for certain centralized functions that benefit the entire Company but are not directly attributable to the businesses, such as legal and corporate finance functions. Transactions between segments are not material. Segment assets primarily include accounts receivable, inventory, other current assets, property, plant and equipment, intangible assets and other miscellaneous assets.

	Year-to-Date
	2013			2012
NET SALES
CDIY	$	1,192.4		$	1,172.0
Security	599.4			592.1
Industrial	695.4			662.0
Total	$	2,487.2		$	2,426.1
SEGMENT PROFIT
CDIY	$	169.2		$	148.4
Security	55.3			69.8
Industrial	85.5			122.9
Segment profit	310.0			341.1
Corporate overhead	(69.0		)	(66.4		)
Other-net	(71.0		)	(67.9		)
Restructuring charges and asset impairments	(42.9		)	(40.0		)
Interest expense	(39.9		)	(33.9		)
Interest income	3.2			2.5
Earnings from continuing operations before income taxes	$	90.4		$	135.4

During the three months ended March 30, 2013 and March 31, 2012, the Company recorded $13.3 million and $2.3 million, respectively, of merger and acquisition-related charges associated with facility closures, which reduced segment gross profit, and an additional $8.8 million and $9.9 million, respectively, in SG&A primarily for integration costs associated with merger and acquisition-related activities These charges reduced segment profit by $3.3 million in CDIY, $6.4 million in Security and $12.4 million in Industrial for the three months ended March 30, 2013, and $3.3 million in CDIY, $6.9 million in Security, and $2.0 million for Industrial for the three months ended March 31, 2012.

Corporate overhead for the three months ended March 30, 2013 and March 31, 2012 includes $25.5 million and $17.5 million, respectively, of charges pertaining primarily to merger and acquisition-related employee charges and integration costs.

The following table is a summary of total assets by segment as of March 30, 2013 and December 29, 2012:

	March 30, 2013		December 29, 2012
CDIY	$	7,671.1	$	7,437.9
Security	4,494.1		4,728.9
Industrial	4,618.8		3,456.9
	16,784.0		15,623.7
Discontinued Operations	83.9		135.2
Corporate assets	29.6		85.1
Consolidated	$	16,897.5	$	15,844.0

Corporate assets primarily consist of cash, deferred taxes and property, plant and equipment.

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 30, 2013

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

he following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of the hierarchy levels (millions of dollars):

	Total Carrying Value		Level 1		Level 2
March 30, 2013:
Money market fund	$	9.7	$	9.7	$	—
Derivative assets	$	97.3	$	—	$	97.3
Derivative liabilities	$	132.0	$	—	$	132.0
December 29, 2012:
Money market fund	$	68.0	$	68.0	$	—
Derivative assets	$	99.0	$	—	$	99.0
Derivative liabilities	$	91.5	$	—	$	91.5

Summary of Financial Instruments Carrying and Fair Values

	March 30, 2013				December 29, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current portion	$	3,504.7	$	3,639.1	$	3,536.9	$	3,677.3
Derivative assets	$	97.3	$	97.3	$	99.0	$	99.0
Derivative liabilities	$	132.0	$	132.0	$	91.5	$	91.5

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Guarantees

3 Months Ended

Mar. 30, 2013

Guarantees

Guarantees

The Company’s financial guarantees at March 30, 2013 are as follows (in millions):

(Millions of Dollars)	Term	Maximum Potential Payment		Carrying Amount of Liability
Guarantees on the residual values of leased properties	One to four years	$	26.4	$	—
Standby letters of credit	Up to three years	69.6		—
Commercial customer financing arrangements	Up to six years	17.2		13.2
Total		$	113.2	$	13.2

The Company has guaranteed a portion of the residual value arising from its synthetic lease program. This lease guarantee is for an amount up to $26.4 million while the fair value of the underlying building is estimated at $30.8 million. The related assets would be available to satisfy the guarantee obligations and therefore it is unlikely the Company will incur any future loss associated with this guarantee.

The Company provides various limited and full recourse guarantees to financial institutions that provide financing to U.S. and Canadian Mac Tool distributors for their initial purchase of the inventory and trucks necessary to function as a distributor. In addition, the Company provides limited and full recourse guarantees to financial institutions that extend credit to certain end retail customers of its U.S. Mac Tool distributors. The gross amount guaranteed in these arrangements is $17.2 million and the $13.2 million carrying value of the guarantees issued is recorded in debt and other liabilities as appropriate in the Condensed Consolidated Balance Sheets.

The Company provides product and service warranties which vary across its businesses. The types of warranties offered generally range from one year to limited lifetime, while certain products carry no warranty. Further, the Company sometimes incurs discretionary costs to service its products in connection with product performance issues. Historical warranty and service claim experience forms the basis for warranty obligations recognized. Adjustments are recorded to the warranty liability as new information becomes available.

The changes in the carrying amount of product and service warranties for the three months ended March 30, 2013 and March 31, 2012 are as follows (in millions):

	2013			2012
Balance beginning of period	$	124.0		$	124.9
Warranties and guarantees issued	18.0			20.4
Warranty payments and currency	(24.3		)	(20.7		)
Balance end of period	$	117.7		$	124.6

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Income Taxes - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Income Taxes [Line Items]
Income taxes (benefit) on continuing operations	$ 8.8	$ 29.8
Effective tax rate	9.70%	22.00%

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New Accounting Standards

3 Months Ended

Mar. 30, 2013

New Accounting Standards

New Accounting Standards

In February 2013, the Financial Accounting Standards Board ("FASB") issued ASU 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." This standard requires additional disclosures regarding the reporting of reclassifications out of accumulated other comprehensive income (AOCI). This ASU is effective for reporting periods beginning after December 15, 2012. The Company adopted this guidance during the first quarter of 2013.

In July 2012, the FASB issued ASU 2012-02, "Intangibles - Goodwill and Other (Topic 350)" - Testing Indefinite-Lived Intangibles Assets for Impairment (revised standard). The revised standard is intended to reduce the costs and complexity of the annual impairment testing by providing entities an option to perform a "qualitative" assessment to determine whether further impairment testing is necessary. This ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The Company did not early adopt this guidance for its 2012 annual impairment testing. The Company will adopt this guidance for its 2013 annual impairment testing.

In December 2011, the FASB issued guidance enhancing disclosure requirements on the nature of an entity's right to offset and related arrangements associated with its financial and derivative instruments. The new guidance requires the disclosure of the gross amounts subject to rights of set-off, amounts offset in accordance with the accounting standards followed, and the related net exposure. The new disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013 and interim periods therein. The adoption of this guidance did not have a material impact to the Company's consolidated financial statements.

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 30, 2013	Dec. 29, 2012
Current Assets
Cash and cash equivalents	$ 557,500,000	$ 716,000,000
Accounts and notes receivable, net	1,782,700,000	1,537,600,000
Inventories, net	1,539,700,000	1,316,000,000
Assets Held-for-sale, Current	83,900,000	135,200,000
Other current assets	462,100,000	394,100,000
Total Current Assets	4,425,900,000	4,098,900,000
Property, Plant and Equipment, net	1,354,600,000	1,333,600,000
Goodwill	7,338,900,000	7,021,100,000
Intangibles, net	3,340,500,000	2,934,400,000
Other Assets	437,600,000	456,000,000
Total Assets	16,897,500,000	15,844,000,000
Current Liabilities
Short-term borrowings	1,331,900,000	1,100,000
Current maturities of long-term debt	10,600,000	10,400,000
Accounts payable	1,514,800,000	1,349,700,000
Accrued expenses	1,267,600,000	1,681,500,000
Liabilities of Assets Held-for-sale	7,700,000	30,900,000
Total Current Liabilities	4,132,600,000	3,073,600,000
Long-Term Debt	3,494,100,000	3,526,500,000
Deferred Taxes	1,033,400,000	946,900,000
Post-retirement Benefits	782,900,000	816,300,000
Other Liabilities	795,400,000	753,600,000
Commitments and Contingencies (Note Q)	0	0
Stanley Black & Decker, Inc. Shareowners' Equity
Common stock, par value $2.50 per share: Authorized 300,000,000 shares in 2012 and 2011 Issued 176,906,265 shares in 2012 and 176,091,572 shares in 2011	442,300,000	442,300,000
Retained earnings	3,304,800,000	3,299,500,000
Additional paid in capital	4,435,900,000	4,473,500,000
Accumulated other comprehensive loss	(530,200,000)	(388,000,000)
ESOP	(61,400,000)	(62,800,000)
Stockholders' Equity Subtotal, Total	7,591,400,000	7,764,500,000
Less: cost of common stock in treasury	(976,700,000)	(1,097,400,000)
Stanley Black & Decker, Inc. Shareowners' Equity	6,614,700,000	6,667,100,000
Non-controlling interests	44,400,000	60,000,000
Total Shareowners' Equity	6,659,100,000	6,727,100,000
Total Liabilities and Shareowners' Equity	$ 16,897,500,000	$ 15,844,000,000

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Net Periodic Benefit Cost - Defined Benefit Plans

3 Months Ended

Mar. 30, 2013

Net Periodic Benefit Cost - Defined Benefit Plans

Net Periodic Benefit Cost — Defined Benefit Plans

Following are the components of net periodic benefit cost for the three months ended March 30, 2013 and March 31, 2012 (in millions):

	Year-to-Date
	Pension Benefits												Other Benefits
	U.S. Plans						Non-U.S. Plans						All Plans
	2013			2012			2013			2012			2013			2012
Service cost	$	1.9		$	1.7		$	3.5		$	2.9		$	0.2		$	0.2
Interest cost	13.3			15.5			11.0			11.8			0.6			0.7
Expected return on plan assets	(16.1		)	(16.7		)	(10.5		)	(11.0		)	—			—
Amortization of prior service cost (credit)	0.3			0.2			0.1			0.1			(0.3		)	(0.3		)
Amortization of net loss	1.6			1.5			1.2			0.8			—			—
Curtailment (gain) loss	—			—			(0.1		)	0.3			—			—
Net periodic cost	$	1.0		$	2.2		$	5.2		$	4.9		$	0.5		$	0.6

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Document and Entity Information	3 Months Ended
	Mar. 30, 2013
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Trading Symbol	SWK
Entity Registrant Name	STANLEY BLACK & DECKER, INC.
Entity Central Index Key	0000093556
Current Fiscal Year End Date	--12-28
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	161,916,159

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Fair Value Measurements

3 Months Ended

Mar. 30, 2013

Fair Value Measurements

Fair Value Measurements

FASB ASC 820 "Fair Value Measurement" defines, establishes a consistent framework for measuring, and expands disclosure requirements about fair value. ASC 820 requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy:

Level 1 — Quoted prices for identical instruments in active markets.

Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs and significant value drivers are observable.

Level 3 — Instruments that are valued using unobservable inputs.

The Company holds various derivative financial instruments that are employed to manage risks, including foreign currency and interest rate exposures. These financial instruments are carried at fair value and are included within the scope of ASC 820. The Company determines the fair value of derivatives through the use of matrix or model pricing, which utilizes verifiable inputs such as market interest and currency rates. When determining the fair value of these financial instruments for which Level 1 evidence does not exist, the Company considers various factors including the following: exchange or market price quotations of similar instruments, time value and volatility factors, the Company’s own credit rating and the credit rating of the counter-party.

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of the hierarchy levels (millions of dollars):

	Total Carrying Value		Level 1		Level 2
March 30, 2013:
Money market fund	$	9.7	$	9.7	$	—
Derivative assets	$	97.3	$	—	$	97.3
Derivative liabilities	$	132.0	$	—	$	132.0
December 29, 2012:
Money market fund	$	68.0	$	68.0	$	—
Derivative assets	$	99.0	$	—	$	99.0
Derivative liabilities	$	91.5	$	—	$	91.5

The Company had no financial assets or liabilities measured using Level 3 inputs, nor any assets measured at fair value on a non-recurring basis during 2013 and 2012.

Refer to Note I, Derivative Financial Instruments, for more details regarding derivative financial instruments, and Note H, Long-Term Debt and Financing Arrangements, for more information regarding carrying values of the long-term debt shown below.

The following table presents the carrying values and fair values of the Company's financial assets and liabilities, as well as the Company's debt, as of March 30, 2013 and December 29, 2012 (millions of dollars):

	March 30, 2013				December 29, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current portion	$	3,504.7	$	3,639.1	$	3,536.9	$	3,677.3
Derivative assets	$	97.3	$	97.3	$	99.0	$	99.0
Derivative liabilities	$	132.0	$	132.0	$	91.5	$	91.5

The fair values of long-term debt instruments are considered Level 2 instruments within the fair value hierarchy and are estimated using a discounted cash flow analysis, based on the Company’s marginal borrowing rates. The differences in carrying values in long-term debt are attributable to the stated interest rates differing from the Company's marginal borrowing rates. The fair value of the Company’s variable rate short term borrowings approximate their carrying value at March 30, 2013 and December 29, 2012. The fair values of foreign currency and interest rate swap agreements, comprising the derivative assets and liabilities in the table above, are based on current settlement values.

As discussed in Note D, Financing Receivables, the Company has a deferred purchase price receivable related to sales of trade receivables. The deferred purchase price receivable will be repaid in cash as receivables are collected, generally within 30 days, and as such the carrying value of the receivable approximates fair value.

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Subsequent Events (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended		1 Months Ended	0 Months Ended
	Apr. 25, 2013	Apr. 25, 2013 Subsequent Event [Member]	Dec. 29, 2012 HHI [Member]	Apr. 08, 2013 Tong Lung [Member] [Member] Second Closing [Member]	Apr. 08, 2013 Tong Lung [Member] [Member] Subsequent Event [Member] Second Closing [Member]
Subsequent Event [Line Items]
Proceeds from Divestiture of Businesses			$ 1,400.0	$ 93.5	$ 93.5
Accelerated Share Repurchases, Initial Delivery of Shares Repurchased	1.6	2.2

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 30, 2013	Dec. 29, 2012
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares unissued	10,000,000	10,000,000
Common stock, par value	$ 2.50	$ 2.50
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	176,906,265	176,906,265

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Goodwill

3 Months Ended

Mar. 30, 2013

Goodwill

Goodwill

Changes in the carrying amount of goodwill by segment are as follows:

(Millions of Dollars)	CDIY			Industrial			Security			Total
Balance December 29, 2012	$	3,030.5		$	1,394.3		$	2,596.3		$	7,021.1
Addition from acquisitions	1.1			367.8			42.0			410.9
Foreign currency translation	(44.2		)	(31.4		)	(17.5		)	(93.1		)
Balance March 30, 2013	$	2,987.4		$	1,730.7		$	2,620.8		$	7,338.9

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Acquisitions

3 Months Ended

Mar. 30, 2013

Acquisitions

Acquisitions

INFASTECH

On February 27, 2013, the Company acquired Infastech for a total purchase price of $826.4 million, net of cash acquired. Infastech designs, manufactures and distributes highly-engineered fastening technologies and applications for a diverse blue-chip customer base in the industrial, electronics, automotive, construction and aerospace end markets. The acquisition of Infastech adds to the Company's strong positioning in specialty engineered fastening, an industry with solid growth prospects, and further expands the Company's global footprint with its strong concentration in fast-growing emerging markets. Infastech is headquartered in Hong Kong and is being consolidated into the Company's Industrial segment.

The Infastech acquisition has been accounted for using the acquisition method of accounting which requires, among other things, the assets acquired and liabilities assumed to be recognized at their fair values as of the acquisition date. The following table summarizes the estimated fair values of major assets acquired and liabilities assumed:

(Millions of Dollars)
Cash and cash equivalents	$	82.0
Accounts and notes receivable, net	118.4
Inventories, net	90.5
Prepaid expenses and other current assets	6.0
Property, plant and equipment	39.8
Trade names	20.0
Customer relationships	380.0
Technology	57.0
Other assets	3.8
Short-term borrowings	(0.2		)
Accounts payable	(98.6		)
Accrued expenses	(32.0		)
Deferred taxes	(125.4		)
Other liabilities	(2.5		)
Total identifiable net assets	$	538.8
Goodwill	369.6
Total consideration transferred	$	908.4

The weighted average useful lives assigned to the trade names, customer relationships, and technology were 15 years, 20 years and 10 years, respectively.

Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the expected cost synergies of the combined business, assembled workforce, and the going concern nature of Infastech.

The purchase price allocation for Infastech is preliminary in all respects. During the measurement period, the Company expects to record adjustments relating to the finalization of intangible valuations, various opening balance sheet contingencies and various income tax matters, amongst others. The Company will complete its purchase price allocation as soon as possible within the measurement period. The finalization of the Company's purchase accounting assessment will result in changes in the valuation of assets acquired and liabilities assumed, which the Company does not expect to be material.

The Company also completed a smaller acquisition within our Security segment during the first quarter of 2013.

2012 ACQUISITIONS

During 2012, the Company completed seven acquisitions for a total purchase price of $696.0 million, net of cash acquired. The largest of these acquisitions were AeroScout Inc. (“AeroScout”), which was purchased for $238.8 million, net of cash acquired, and Powers Fasteners, Inc. (“Powers”), which was purchased for $220.5 million, net of cash acquired. AeroScout develops, manufactures, and sells Real-Time Locating Systems ("RTLS") primarily to healthcare and certain industrial customers. Powers distributes fastening products such as mechanical anchors, adhesive anchoring systems, and powered forced-entry systems, mainly for commercial construction end customers. AeroScout was purchased in the second quarter of 2012 and has been integrated within the Security and Industrial segments. Powers was also purchased in the second quarter of 2012 and is part of the CDIY segment. The combined assets acquired for these acquisitions, including $185.4 million of intangible assets and $7.7 million of cash, was approximately $298.7 million, and the combined liabilities assumed were approximately $108.4 million. The related goodwill associated with these two acquisitions is approximately $276.7 million. The total purchase price for the acquisitions was allocated to the assets acquired and liabilities assumed based on their estimated fair values. The purchase accounting for these acquisitions is substantially complete with the exception of certain minor items.

Five smaller acquisitions were completed during 2012 for a total purchase price of $236.7 million. The largest of these acquisitions were Lista North America (“Lista”), which was purchased for $89.7 million, net of cash acquired, and Tong Lung Metal Industry Co. ("Tong Lung"), which the Company purchased an 89% controlling share for $102.8 million, net of cash acquired, and assumed $20.1 million of short term debt. In January 2013, the Company purchased the remaining outstanding shares of Tong Lung for approximately $12 million. Lista's storage and workbench solutions complement the Industrial & Automotive Repair division's tool, storage, radio frequency identification ("RFID")-enabled systems, and specialty supply product and service offerings. Tong Lung manufactures and sells commercial and residential locksets. The residential portion of the business was part of the December 2012 HHI sale and closed on April 8, 2013. Refer to Note U, Subsequent Events, for further discussion. Lista was purchased in the first quarter of 2012 and is part of the Industrial segment. Tong Lung was purchased in the third quarter of 2012 and is part of the Security segment. The purchase accounting for these acquisitions is complete.

ACTUAL AND PRO-FORMA IMPACT FROM ACQUISITIONS

Actual Impact from Acquisitions

The Company's Consolidated Statements of Operations and Comprehensive Income for the first quarter of 2013 include $48.4 million in net sales and $3.9 million in net losses from 2013 acquisitions. These amounts include amortization relating to inventory step-up and intangible assets recorded upon acquisition.

Pro-forma Impact from Acquisitions

The following table presents supplemental pro-forma information as if the Infastech, AeroScout, Powers, and other 2013 and 2012 acquisitions had occurred on January 2, 2012. This pro-forma information includes acquisition-related charges for the period. The pro-forma consolidated results are not necessarily indicative of what the Company’s consolidated net earnings would have been had the Company completed these acquisitions on January 2, 2012. In addition, the pro-forma consolidated results do not reflect the expected realization of any cost savings associated with the acquisitions.

	Year-to-Date
(Millions of Dollars, except per share amounts)	2013		2012
Net sales	$	2,575.5	$	2,619.8
Net earnings attributable to common shareowners	98.6		106.1
Diluted earnings per share-continuing operations	0.62		0.63

The 2013 pro-forma results were calculated by combining the results of Stanley Black & Decker with the stand-alone results of the 2013 acquisitions for their respective pre-acquisition periods. The following adjustments were made to account for certain costs which would have been incurred during this pre-acquisition period:

• Elimination of the historical pre-acquisition intangible asset amortization expense and the addition of intangible asset amortization expense related to intangibles valued as part of the purchase price allocation that would have been incurred from January 1, 2013 to the acquisition dates, adjusted for the applicable tax impact.

• Because the 2013 acquisitions were assumed to occur on January 1, 2012, there were no deal costs or inventory step-up amortization factored into the 2013 pro-forma year, as such expenses would have occurred in the first year following the acquisition.

The 2012 pro-forma results were calculated by combining the results of Stanley Black & Decker with the stand-alone results of the 2012 and 2013 acquisitions for their respective pre-acquisition periods. The following adjustments were made to account for certain costs which would have been incurred during this pre-acquisition period:

• Elimination of the historical pre-acquisition intangible asset amortization expense and the addition of intangible asset amortization expense related to intangibles valued as part of the purchase price allocation that would have been incurred from January 1, 2012 to March 31, 2012.

• Additional expense for deal costs and inventory step-up, where applicable, which would have been amortized as the corresponding inventory was sold.

• Reduced revenue for fair value adjustments made to deferred revenue, where applicable.

• Because the 2013 acquisitions were funded using existing sources of liquidity, additional interest expense was factored into the 2012 pro-forma year.

• The modifications above were adjusted for the applicable tax impact.

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Commitments and Contingencies

3 Months Ended

Mar. 30, 2013

Commitments and Contingencies

Commitments and Contingencies

The Company is involved in various legal proceedings relating to environmental issues, employment, product liability, workers’ compensation claims and other matters. The Company periodically reviews the status of these proceedings with both inside and outside counsel, as well as an actuary for risk insurance. Management believes that the ultimate disposition of these matters will not have a material adverse effect on operations or financial condition taken as a whole.

The amount recorded for identified contingent liabilities is based on estimates. Amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. Actual costs to be incurred in future periods may vary from the estimates, given the inherent uncertainties in evaluating certain exposures.

In connection with the 2010 merger with Black & Decker, the Company assumed certain commitments and contingent liabilities. Black & Decker is a party to litigation and administrative proceedings with respect to claims involving the discharge of hazardous substances into the environment. Some of these assert claims for damages and liability for remedial investigations and clean-up costs with respect to sites that have never been owned or operated by Black & Decker but at which Black & Decker has been identified as a potentially responsible party. Other matters involve current and former manufacturing facilities.

The Environmental Protection Agency (“EPA”) and the Santa Ana Regional Water Quality Control Board have each initiated administrative proceedings against Black & Decker and certain of its current or former affiliates alleging that Black & Decker and numerous other defendants are responsible to investigate and remediate alleged groundwater contamination in and adjacent to a 160-acre property located in Rialto, California. The EPA and the cities of Colton and Rialto, as well as Goodrich Corporation, also initiated lawsuits against Black & Decker and certain of its former or current affiliates in the Federal District Court for California, Central District alleging similar claims that Black & Decker is liable under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”), the Resource Conservation and Recovery Act, and state law for the discharge or release of hazardous substances into the environment and the contamination caused by those alleged releases. The City of Colton also has a companion case in California State court. The City of Riverside has a similar suit in California State Court with similar claims and the same parties. Both of these cases are currently stayed for all purposes. Certain defendants in that case have cross-claims against other defendants and have asserted claims against the State of California. The administrative proceedings and the lawsuits generally allege that West Coast Loading Corporation (“WCLC”), a defunct company that operated in Rialto between 1952 and 1957, and an as yet undefined number of other defendants are responsible for the release of perchlorate and solvents into the groundwater basin, and that Black & Decker and certain of its current or former affiliates are liable as a “successor” of WCLC. The Company's settlement discussions among the EPA and numerous other parties progressed throughout late 2012, culminating in the settlement of the EPA's claims against the Company, as well as all other administrative proceedings and lawsuits involving Black & Decker related to the WCLC site, except for the City of Riverside's state court lawsuit. (That lawsuit has been stayed and will, the Company believes, ultimately rendered moot by the implementation of an interim and final remedy at the site.)  This settlement is embodied in a Consent Decree that was filed with the United States District Court for the Central District of California on or about December 4, 2012.  The Consent Decree is a public document, subject to public comment and ultimately, court approval.  In substance, Emhart Industries, Inc. (a dissolved, former indirectly wholly-owned subsidiary of The Black & Decker Corporation) (“Emhart”) has agreed to be responsible for an interim remedy at the site, which remedy will be funded by (i) amounts gathered by EPA from multiple parties and placed in trust, and, to the extent necessary, (ii) Emhart's affiliate.  The interim remedy requires the construction of a water treatment facility and the filtering of ground water at or around the Rialto property for a period of approximately 30 years or more.

The EPA has asserted claims in federal court in Rhode Island against certain current and former affiliates of Black & Decker related to environmental contamination found at the Centredale Manor Restoration Project Superfund site, located in North Providence, Rhode Island. The EPA has discovered a variety of contaminants at the site, including but not limited to, dioxins, polychlorinated biphenyls, and pesticides. The EPA alleges that Black & Decker and certain of its current and former affiliates are liable for site clean-up costs under CERCLA as successors to the liability of Metro-Atlantic, Inc., a former operator at the site, and demanded reimbursement of the EPA’s costs related to this site. Black & Decker and certain of its current and former affiliates contest the EPA's allegation that they are responsible for the contamination, and have asserted contribution claims, counterclaims and cross-claims against a number of other potentially responsible parties, including the federal government as well as insurance carriers. The EPA released its Record of Decision ("ROD") in September 2012, which identified and described the EPA's selected remedial alternative for the site. Black & Decker and certain of its current and former affiliates are contesting the EPA's selection of the remedial alternative set forth in the ROD, on the grounds that the EPA's actions were arbitrary and capricious and otherwise not in accordance with law, and have proposed other equally-protective, more cost-effective alternatives. The Company's estimated remediation costs related to this Centredale site (including the EPA’s past costs as well as costs of additional investigation, remediation, and related costs such as EPA’s oversight costs, less escrowed funds contributed by primary potentially responsible parties (PRPs) who have reached settlement agreements with the EPA), which the Company considers to be probable and reasonably estimable, range from approximately $68.1 million to $139.7 million, with no amount within that range representing a more likely outcome until such time as the litigation is resolved through judgment of compromise. The Company’s reserve for this environmental remediation matter of $68.1 million reflects the fact that the EPA considers Metro-Atlantic, Inc. to be a primary source of contamination at the site. As the specific nature of the environmental remediation activities that may be mandated by the EPA at this site have not yet been finally determined through the on-going litigation, the ultimate remedial costs associated with the site may vary from the amount accrued by the Company at March 30, 2013.

In the normal course of business, the Company is involved in various lawsuits and claims. In addition, the Company is a party to a number of proceedings before federal and state regulatory agencies relating to environmental remediation. Also, the Company, along with many other companies, has been named as a PRP in a number of administrative proceedings for the remediation of various waste sites, including 31 active Superfund sites. Current laws potentially impose joint and several liabilities upon each PRP. In assessing its potential liability at these sites, the Company has considered the following: whether responsibility is being disputed, the terms of existing agreements, experience at similar sites, and the Company’s volumetric contribution at these sites.

The Company’s policy is to accrue environmental investigatory and remediation costs for identified sites when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. In the event that no amount in the range of probable loss is considered most likely, the minimum loss in the range is accrued. The amount of liability recorded is based on an evaluation of currently available facts with respect to each individual site and includes such factors as existing technology, presently enacted laws and regulations, and prior experience in remediation of contaminated sites. The liabilities recorded do not take into account any claims for recoveries from insurance or third parties. As assessments and remediation progress at individual sites, the amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. As of March 30, 2013 and December 29, 2012, the Company had reserves of $185.7 million and $188.0 million, respectively, for remediation activities associated with Company-owned properties, as well as for Superfund sites, for losses that are probable and estimable. Of the 2013 amount, $6.3 million is classified as current and $179.4 million as long-term which is expected to be paid over the estimated remediation period. As of March 30, 2013, the Company has recorded an asset of $24.3 million related to funding by EPA and placed in trust in accordance with the Consent Decree associated with WCLC, as previously discussed. Accordingly, the cash obligation as of March 30, 2013 of the Company associated with the aforementioned remediation activities is $161.4 million. The range of environmental remediation costs that is reasonably possible is $138.7 million to $278.3 million which is subject to change in the near term. The Company may be liable for environmental remediation of sites it no longer owns. Liabilities have been recorded on those sites in accordance with policy.

The amount recorded for identified contingent liabilities is based on estimates. Amounts recorded are reviewed periodically and adjusted to reflect additional technical and legal information that becomes available. Actual costs to be incurred in future periods may vary from the estimates, given the inherent uncertainties in evaluating certain exposures. Subject to the imprecision in estimating future contingent liability costs, the Company does not expect that any sum it may have to pay in connection with these matters in excess of the amounts recorded will have a materially adverse effect on its financial position, results of operations or liquidity.

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Other Costs and Expenses

3 Months Ended

Mar. 30, 2013

Other Costs and Expenses

Other Costs and Expenses

Other-net is primarily comprised of intangible asset amortization expense, currency related gains or losses, environmental expense and merger and acquisition-related charges, primarily consisting of transaction costs. During the three months ended March 30, 2013 and March 31, 2012, Other-net included $15.6 million and $10.2 million in merger and acquisition-related costs, respectively.

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Equity Arrangements

3 Months Ended

Mar. 30, 2013

Equity Arrangements

J. Equity Arrangements

In January 2013, the Company elected to prepay the forward share purchase contract on its common stock for $362.7 million. This contract obligated the Company to pay $350.0 million, plus an additional amount related to the forward component of the contract, to the financial institution counterparty not later than August 2013, or earlier at the Company’s option, for the 5,581,400 shares purchased. The reduction of common shares outstanding was recorded at the inception of the forward share purchase contract and factored into the calculation of weighted average shares outstanding.

In December 2012, the Company entered into a forward starting accelerated share repurchase (“ASR”) contract with certain financial institutions to purchase $850 million of the Company's common stock. The Company paid $850 million to the financial institutions and received an initial delivery of 9,345,794 shares, which reduced the Company's shares outstanding at December 29, 2012. The value of the initial shares received on the date of purchase was $680 million, reflecting a $72.76 price per share which was recorded as a treasury share purchase for purposes of calculating earnings per share. In accordance with ASC 815-40, the Company recorded the remaining $170 million as a forward contract indexed to its own common stock in additional paid in capital. In April 2013, the Company settled the contract for approximately 1.6 million shares. These shares will be delivered by the financial institutions in the second quarter of 2013 and were determined by the average price per share paid by the financial institutions during the purchase period. The average price is calculated using the volume weighted average price ("VWAP") of the Company's stock (inclusive of a VWAP discount) during that period. For further information, see Note U, Subsequent Events.

In November 2012, the Company purchased from certain financial institutions over the counter “out-of-the-money” capped call options, subject to adjustments for standard anti-dilution provisions, on 10,094,144 shares of its common stock for an aggregate premium of $29.5 million, or an average of $2.92 per share. The purpose of the capped call options is to reduce share price volatility on potential future share repurchases. In accordance with ASC 815-40 the premium paid was recorded as a reduction of Shareowners’ equity. The average lower strike price is $71.43 and the average upper strike price is $79.75, subject to customary market adjustments. The aggregate fair value of the remaining options at March 30, 2013 was $13.1 million. The remaining capped call options were net-share settled in April 2013 for approximately 0.6 million shares. These shares will be delivered by the financial institutions in the second quarter of 2013.

Convertible Preferred Units and Equity Option

As described more fully in Note H, Long-Term Debt and Financing Arrangements, of the Company’s Form 10-K for the year ended December 29, 2012, in November 2010 the Company issued Convertible Preferred Units comprised of $632,500,000 of Notes due November 17, 2018 and Purchase Contracts. There have been no changes to the terms of the Convertible Preferred Units. The Purchase Contracts obligate the holders to purchase, on the earlier of (i) November 17, 2015 (the Purchase Contract Settlement date) or (ii) the triggered early settlement date, 6,325,000 shares, for $100 per share, of the Company’s 4.75% Series B Cumulative Convertible Preferred Stock (the “Convertible Preferred Stock”), resulting in cash proceeds to the Company of up to $632.5 million.

Following the issuance of Convertible Preferred Stock upon settlement of a holder’s Purchase Contracts, a holder of Convertible Preferred Stock may, at its option, at any time and from time to time, convert some or all of its outstanding shares of Convertible Preferred Stock at a conversion rate of 1.3333 shares of the Company’s common stock per share of Convertible Preferred Stock (subject to customary anti-dilution provisions), which is equivalent to an initial conversion price of approximately $75.00 per share of common stock. Assuming conversion of the 6,325,000 shares of Convertible Preferred Stock at the 1.3333 initial conversion rate a total of 8,433,123 shares of the Company’s common stock may be issued upon conversion. As of March 30, 2013, due to the customary anti-dilution provisions, the conversion rate on the Convertible Preferred Stock is 1.3501 (equivalent to a conversion price of approximately $74.07 per common share). In the event that holders elect to settle their Purchase Contracts prior to November 17, 2015, the Company will deliver a number of shares of Convertible Preferred Stock equal to 85% of the Purchase Contracts tendered, together with cash in lieu of fractional shares. Upon a conversion on or after November 15, 2015 the Company may elect to pay or deliver, as the case may be, solely shares of common stock, together with cash in lieu of fractional shares (“physical settlement”), solely cash (“cash settlement”), or a combination of cash and common stock (“combination settlement”). The Company may redeem some or all of the Convertible Preferred Stock on or after December 22, 2015 at a redemption price equal to 100% of the $100 liquidation preference per share plus accrued and unpaid dividends to the redemption date.

In November 2010, contemporaneously with the issuance of the Convertible Preferred Units described above, the Company paid $50.3 million, or an average of $5.97 per option, to enter into capped call transactions (equity options) on 8,433,123 shares of common stock with certain major financial institutions. The purpose of the capped call transactions is to offset the common shares that may be deliverable upon conversion of shares of Convertible Preferred Stock. With respect to the impact on the Company, the capped call transactions and the Convertible Preferred Stock, when taken together, result in the economic equivalent of having the conversion price on the Convertible Preferred Stock at $96.73 , the upper strike price of the capped call (as of March 30, 2013). Refer to Note H, Long-Term Debt and Financing Arrangements, and Note J, Capital Stock, of the Company’s Form 10-K for the year ended December 29, 2012 for further discussion. In accordance with ASC 815-40 the $50.3 million premium paid was recorded as a reduction to equity.

The capped call transactions cover, subject to customary anti-dilution adjustments, the number of shares of common stock equal to the number of shares of common stock underlying the maximum number of shares of Convertible Preferred Stock issuable upon settlement of the Purchase Contracts. Each of the capped call transactions has a term of approximately 5 years and initially had a lower strike price of $75.00, which corresponded to the initial conversion price of the Convertible Preferred Stock, and an upper strike price of $97.95, which was approximately 60% higher than the closing price of the common stock on November 1, 2010. The capped call transactions may be settled by net share settlement (the default settlement method) or, at the Company’s option and subject to certain conditions, cash settlement, physical settlement or modified physical settlement. The aggregate fair value of the options at March 30, 2013 was $80.3 million.

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Accumulated Other Comprehensive Income - Changes in AOCI (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013
Accumulated other comprehensive income (loss):
Balance - beginning of period	$ (388.0)
Other comprehensive (loss) income before reclassifications	(147.5)
Reclassification adjustments to earnings	5.3
Net other comprehensive (loss) income	(142.2)
Balance - end of period	(530.2)
Currency translation adjustment
Accumulated other comprehensive income (loss):
Balance - beginning of period	29.4
Other comprehensive (loss) income before reclassifications	(194.5)
Reclassification adjustments to earnings	0
Net other comprehensive (loss) income	(194.5)
Balance - end of period	(165.1)
Unrealized (losses) gains on cash flow hedges, net of tax
Accumulated other comprehensive income (loss):
Balance - beginning of period	(93.5)
Other comprehensive (loss) income before reclassifications	3.0
Reclassification adjustments to earnings	3.5
Net other comprehensive (loss) income	6.5
Balance - end of period	(87.0)
Unrealized (losses) gains on net investment hedges, net of tax
Accumulated other comprehensive income (loss):
Balance - beginning of period	63.3
Other comprehensive (loss) income before reclassifications	36.5
Reclassification adjustments to earnings	0
Net other comprehensive (loss) income	36.5
Balance - end of period	26.8
Pension (losses) gains, net of tax
Accumulated other comprehensive income (loss):
Balance - beginning of period	260.6
Other comprehensive (loss) income before reclassifications	7.5
Reclassification adjustments to earnings	1.8
Net other comprehensive (loss) income	9.3
Balance - end of period	$ 251.3

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Long-Term Debt and Financing Arrangements

3 Months Ended

Mar. 30, 2013

Long-Term Debt and Financing Arrangements

Long-Term Debt and Financing Arrangements

Long-term debt and financing arrangements at March 30, 2013 and December 29, 2012 follow:

	Interest Rate	2013			2012
Notes payable due 2016	5.75%	325.1			326.8
Notes payable due in 2018 (junior subordinated)	4.25%	632.5			632.5
Notes payable due 2021	3.40%	410.7			417.1
Notes payable due 2022	2.90%	799.3			799.3
Notes payable due 2028	7.05%	164.7			169.6
Notes payable due 2040	5.20%	384.7			404.4
Notes payable due 2052 (junior subordinated)	5.75%	750.0			750.0
Other, payable in varying amounts through 2021	0.00% – 7.14%	37.7			37.2
Total long-term debt, including current maturities		$	3,504.7		$	3,536.9
Less: Current maturities of long-term debt		(10.6		)	(10.4		)
Long-term debt		$	3,494.1		$	3,526.5

At March 30, 2013, the Company's carrying value of the $300.0 million note payable due in 2016 includes $15.0 million associated with fair value adjustments made in purchase accounting as well as $10.1 million pertaining to the unamortized gain on a previously terminated fixed-to-floating interest rate swap.

At March 30, 2013, the Company had a fixed-to-floating interest rate swap on its $400.0 million notes payable due in 2021. The carrying value of the notes payable due in 2021 includes $15.9 million pertaining to the unamortized gain on previously terminated swaps partially offset by $4.9 million pertaining to fair value adjustments of the active swap and $0.3 million unamortized discount on the notes.

At March 30, 2013, the Company had a fixed-to-floating interest rate swaps on its $150.0 million notes payable due in 2028. The carrying value of the notes payable due in 2028 includes $16.2 million associated with fair value adjustments made in purchase accounting slightly offset by $1.5 million pertaining to fair value adjustment of the swaps.

At March 30, 2013, the Company had a fixed-to-floating interest rate swap on its $400.0 million notes payable due in 2040. The carrying value of the notes payable due in 2040 includes a $15.0 million loss pertaining to the fair value adjustment of the swap and $0.3 million pertaining to unamortized discount on the notes.

Unamortized gains and fair value adjustments associated with interest rate swaps and the impact of terminated swaps are more fully discussed in Note I, Derivative Financial Instruments.

At March 30, 2013, the Company had $1,331.1 million of borrowings outstanding against the Company’s $2.0 billion commercial paper program. At December 29, 2012, the Company had no commercial paper borrowings outstanding.

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Derivative Financial Instruments

3 Months Ended

Mar. 30, 2013

Derivative Financial Instruments

Derivative Financial Instruments

The Company is exposed to market risk from changes in foreign currency exchange rates, interest rates, stock prices and commodity prices. As part of the Company’s risk management program, a variety of financial instruments such as interest rate swaps, currency swaps, purchased currency options, foreign exchange contracts and commodity contracts are used to mitigate interest rate exposure, foreign currency exposure and commodity price exposure.

Financial instruments are not utilized for speculative purposes. If the Company elects to do so and if the instrument meets the criteria specified in Accounting Standards Codification ("ASC") 815, management designates its derivative instruments as cash flow hedges, fair value hedges or net investment hedges. Generally, commodity price exposures are not hedged with derivative financial instruments and instead are actively managed through customer pricing initiatives, procurement-driven cost reduction initiatives and other productivity improvement projects.

A summary of the fair value of the Company’s derivatives recorded in the Consolidated Balance Sheets at March 30, 2013 and December 29, 2012 follows (in millions):

	Balance Sheet Classification	2013		2012		Balance Sheet Classification	2013		2012
Derivatives designated as hedging instruments:
Interest Rate Contracts Fair Value	Other current assets	20.3		18.5		Accrued expenses	2.1		3.3
	LT other assets	—		6.4		LT other  liabilities	32.8		4.6
Foreign Exchange Contracts Cash Flow	Other current assets	2.4		—		Accrued expenses	1.1		2.6
Net Investment Hedge	Other current assets	42.3		0.2		Accrued expenses	1.6		25.7
		$	65.0	$	25.1		$	37.6	$	36.2
Derivatives not designated as hedging instruments:
Foreign Exchange Contracts	Other current assets	$	32.3	$	73.9	Accrued expenses	$	89.3	$	46.4
	LT other assets	—		—		LT other liabilities	5.1		8.9
		$	32.3	$	73.9		$	94.4	$	55.3

The counterparties to all of the above mentioned financial instruments are major international financial institutions. The Company is exposed to credit risk for net exchanges under these agreements, but not for the notional amounts. The credit risk is limited to the asset amounts noted above. The Company limits its exposure and concentration of risk by contracting with diverse financial institutions and does not anticipate non-performance by any of its counterparties. Further, as more fully discussed in Note M, Fair Value Measurements, the Company considers non-performance risk of its counterparties at each reporting period and adjusts the carrying value of these assets accordingly. The risk of default is considered remote.

During the first three months of 2013 and 2012, respectively, significant cash flows related to derivatives including those that are separately discussed in Cash Flow Hedges, Fair Value Hedges and Net Investment Hedges below resulted in net cash received of $22.5 million and cash paid of $35.6 million respectively.

CASH FLOW HEDGES

There was an $87.0 million and $93.5 million after-tax loss as of March 30, 2013 and December 29, 2012, respectively, reported for cash flow hedge effectiveness in accumulated other comprehensive loss. An after-tax loss of $11.8 million is expected to be reclassified to earnings as the hedged transactions occur or as amounts are amortized within the next twelve months. The ultimate amount recognized will vary based on fluctuations of the hedged currencies and interest rates through the maturity dates.

The tables below detail pre-tax amounts reclassified from accumulated other comprehensive income (loss) into earnings for active derivative financial instruments during the periods in which the underlying hedged transactions affected earnings for the three months ended March 30, 2013 and March 31, 2012 (in millions):

Year-to-date 2013 (In millions)	Gain (Loss) Recorded in  OCI		Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)			Gain (Loss) Recognized  in Income (Ineffective Portion*)
Foreign Exchange Contracts	$	3.1	Cost of Sales	$	(1.8	)	$	—

Year-to-date 2012 (In millions)	Gain (Loss) Recorded in  OCI			Classification of Gain (Loss) Reclassified from OCI to Income	Gain (Loss) Reclassified from OCI to Income (Effective Portion)		Gain (Loss) Recognized  in Income (Ineffective Portion*)
Interest Rate Contracts	$	1.4		Interest expense	$	—	$	—
Foreign Exchange Contracts	$	(1.2	)	Cost of sales	$	4.9	—

 * Includes ineffective portion and amount excluded from effectiveness testing on derivatives.

For the three months ended March 30, 2013, the hedged items’ impact to the Consolidated Statement of Operations and Comprehensive Income was a gain of $1.8 million in Cost of Sales, which is offsetting the loss shown above. For the three months ended March 31, 2012, the hedged items’ impact to the Consolidated Statement of Operations and Comprehensive Income was a loss of $4.9 million in Cost of Sales. There was no impact related to the interest rate contracts’ hedged items and the impact of de-designated hedges was immaterial for all periods presented.

For the three months ended March 30, 2013 and March 31, 2012, an after-tax loss of $3.5 million and an after tax gain of $2.3 million respectively, was reclassified from Accumulated other comprehensive income (loss) into earnings (inclusive of the gain/loss amortization on terminated derivative instruments) during the periods in which the underlying hedged transactions affected earnings.

Interest Rate Contract: The Company enters into interest rate swap agreements in order to obtain the lowest cost source of funds within a targeted range of variable to fixed-rate debt proportions. At March 30, 2013, and December 29, 2012, all interest rate swaps designated as cash flow hedges had been terminated.

In December 2009, the Company executed forward starting interest rate swaps with an aggregate notional amount of $400 million fixing 10 years of interest payments at 4.78%. The objective of the hedge was to offset the expected variability on future payments associated with the interest rate on debt instruments. In January 2012, contracts with a total notional amount of $240 million of these contracts were terminated. The terminations resulted in cash payments of $56.4 million, which was recorded in accumulated other comprehensive loss and will be amortized to earnings over future periods. The cash flows stemming from the termination of such interest rate swaps designated as cash flow hedges are presented within financing activities in the Consolidated Statement of Cash Flows.

Foreign Currency Contracts

Forward Contracts: Through its global businesses, the Company enters into transactions and makes investments denominated in multiple currencies that give rise to foreign currency risk. The Company and its subsidiaries regularly purchase inventory from subsidiaries with non-U.S. dollar functional currencies which creates currency-related volatility in the Company’s results of operations. The Company utilizes forward contracts to hedge these forecasted purchases of inventory. Gains and losses reclassified from accumulated other comprehensive loss for the effective and ineffective portions of the hedge as well as any amounts excluded from effectiveness testing are recorded in cost of sales. Gains and losses incurred after a hedge has been de-designated are not recorded in Accumulated other comprehensive income, but are recorded directly to the Consolidated Statement of Operations and Comprehensive Income in other-net. At March 30, 2013, the notional value of forward currency contracts outstanding was $124.8 million, all of which was designated, and matures at various dates through 2013. At December 29, 2012, the notional value of forward currency contracts outstanding was $154.0 million, all of which was designated, maturing at various dates through 2013.

Purchased Option Contracts: The Company and its subsidiaries have entered into various inter-company transactions whereby the notional values are denominated in currencies other than the functional currencies of the party executing the trade. In order to better match the cash flows of its inter-company obligations with cash flows from operations, the Company enters into purchased option contracts. Gains and losses reclassified from accumulated other comprehensive income (loss) for the effective and ineffective portions of the hedge as well as any amounts excluded from effectiveness testing are recorded in cost of sales. At March 30, 2013, the notional value of purchased option contracts was $126.0 million maturing at various dates through 2013. As of December 29, 2012, the notional value of purchased option contracts was $173.0 million, maturing at various dates through 2013.

FAIR VALUE HEDGES

Interest Rate Risk: In an effort to optimize the mix of fixed versus floating rate debt in the Company’s capital structure, the Company enters into interest rate swaps. In October 2012, the Company entered into interest rate swaps with notional values which equaled the Company's $400 million3.4% notes due in 2021 and the Company's $400 million5.2% notes due in 2040. In January 2012, the Company entered into interest rate swaps with notional values which equaled the Company's $150 million7.05% notes due in 2028. These interest rate swaps effectively converted the Company's fixed rate debt to floating rate debt based on LIBOR, thereby hedging the fluctuation in fair value resulting from changes in interest rates.

In January 2012, the Company terminated interest rate swaps with notional values equal to the Company’s $300 million4.75% notes due in 2014, $300 million5.75% notes due in 2016, $200 million4.9% notes due in 2012 and $250 million6.15% notes due in 2013. These terminations resulted in cash receipts of $35.8 million. The resulting gain of $28.0 million was deferred and will be amortized to earnings over the remaining life of the notes. In July 2012, the Company repurchased the $250 million6.15% notes due in 2013 and $300 million4.75% notes due 2014 and, as a result, $11.1 million of the previously deferred gain was recognized in earnings at that time.

The changes in fair value of the interest rate swaps during the period were recognized in earnings as well as the offsetting changes in fair value of the underlying notes. The notional value of open contracts was $950 million as of both March 30, 2013 and December 29, 2012. A summary of the fair value adjustments relating to these swaps is as follows (in millions):

	Year-to-Date 2013		Year-to-Date 2012
Income Statement Classification	Gain/(Loss)  on Swaps	Gain /(Loss)  on Borrowings	Gain/(Loss)  on Swaps			Gain /(Loss)  on Borrowings
Interest Expense	$(30.4)	$30.4	$	(2.6	)	$	2.6

In addition to the amounts in the table above, the net swap accruals for each period and amortization of the gains on terminated swaps are also reported as a reduction of interest expense and totaled $6.0 million and $6.6 million for the three months ended March 30, 2013 and March 31, 2012, respectively. Interest expense on the underlying debt was $11.4 million and $9.7 million for the three months ended March 30, 2013 and March 31, 2012, respectively.

NET INVESTMENT HEDGES

Foreign Exchange Contracts: The Company utilizes net investment hedges to offset the translation adjustment arising from re-measurement of its investment in the assets and liabilities of its foreign subsidiaries. The total after-tax amounts in accumulated other comprehensive loss were losses of $26.8 million and $63.3 million at March 30, 2013 and December 29, 2012, respectively. As of March 30, 2013, the Company had foreign exchange contracts that mature at various dates through January 2014 with notional values totaling $956.4 million outstanding hedging a portion of its pound sterling denominated net investment. As of December 29, 2012, the Company had foreign exchange contracts that mature at various dates through October 2013 with notional values totaling $940.6 million outstanding hedging a portion of its pound sterling denominated net investment. For the first three months of 2013, maturing foreign exchange contracts resulted in net cash payments of $9.2 million. For the first three months of 2012, maturing foreign exchange contracts resulted in net cash receipts of $2.0 million. Gains and losses on net investment hedges remain in accumulated other comprehensive income (loss) until disposal of the underlying assets.

The pre-tax gain or loss from year-to-date fair value changed was as follows (in millions):

	Year-to-Date 2013						Year-to-Date 2012
Income Statement Classification	Amount Recorded in  OCI Gain (Loss)		Effective Portion Recorded in  Income Statement		Ineffective Portion* Recorded in Income Statement		Amount Recorded in  OCI Gain (Loss)			Effective Portion Recorded in  Income Statement		Ineffective Portion* Recorded in Income Statement
Other-net	$	58.8	$	—	$	—	$	(31.8	)	$	—	$	—

 * Includes ineffective portion and amount excluded from effectiveness testing.

UNDESIGNATED HEDGES

Foreign Exchange Contracts: Currency swaps and foreign exchange forward contracts are used to reduce risks arising from the change in fair value of certain foreign currency denominated assets and liabilities (such as affiliate loans, payables and receivables). The objective of these practices is to minimize the impact of foreign currency fluctuations on operating results. The total notional amount of the contracts outstanding at March 30, 2013 was $3.2 billion of forward contracts and $99.4 million in currency swaps, maturing at various dates primarily through January 2014 with the currency swap maturing in December 2014. The total notional amount of the contracts outstanding at December 29, 2012 was $4.3 billion of forward contracts and $105.6 million in currency swaps. The income statement impacts related to derivatives not designated as hedging instruments for 2013 and 2012 are as follows (in millions):

Derivatives Not Designated as Hedging Instruments under ASC 815	Income Statement Classification	Year-to-Date 2013 Amount of Gain (Loss) Recorded in Income on Derivative			Year-to-Date 2012 Amount of Gain (Loss) Recorded in Income on Derivative
Foreign Exchange Contracts	Other-net	$	(60.6	)	$	(8.7	)

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Accumulated Other Comprehensive Income (Notes)

3 Months Ended

Mar. 30, 2013

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income (Loss) [Text Block]

Accumulated Other Comprehensive Income (Loss)

The table below sets forth the changes to the components of accumulated other comprehensive income (loss) for the three months ended March 30, 2013 (in millions):

	Currency translation adjustment		Unrealized (losses) gains on cash flow hedges, net of tax		Unrealized (losses) gains on net investment hedges, net of tax		Pension (losses) gains, net of tax		Total
Balance - December 29, 2012	29.4		(93.5	)	(63.3	)	(260.6	)	(388.0	)
Other comprehensive (loss) income before reclassifications	(194.5	)	3.0		36.5		7.5		(147.5	)
Reclassification adjustments to earnings	—		3.5		—		1.8		5.3
Net other comprehensive (loss) income	(194.5	)	6.5		36.5		9.3		(142.2	)
Balance - March 30, 2013	(165.1	)	(87.0	)	(26.8	)	(251.3	)	(530.2	)

The reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 30, 2013 were as follows (in millions):

Reclassifications from accumulated other comprehensive income (loss) to earnings	Reclassification adjustments	Affected line item in Consolidated Statements of Operations And Comprehensive Income
Realized losses on cash flow hedges	(5.6)	Cost of sales
Tax effect	2.1	Income taxes on continuing operations
Realized losses on cash flow hedges, net of tax	(3.5)
Amortization of defined benefit pension items:
Actuarial losses	(1.6)	Cost of sales
Actuarial losses	(1.0)	Selling, general and administrative
Total before taxes	(2.6)
Tax effect	0.8	Income taxes on continuing operations
Amortization of defined benefit pension items, net of tax	(1.8)

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Summary of Financial Instruments Carrying and Fair Values (Detail) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	$ 3,504.7	$ 3,536.9
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	3,504.7	3,536.9
Derivative assets	97.3	99.0
Derivative liabilities	132.0	91.5
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	3,639.1	3,677.3
Derivative assets	97.3	99.0
Derivative liabilities	$ 132.0	$ 91.5

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Summary of Restructuring Reserve Activity (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance	$ 125.2
Restructuring charges	42.9	40.0
Usage	(39.6)
Currency	(3.2)
Reserve, Ending Balance	125.3
2012 Actions
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance	0
Restructuring charges	45.3
Usage	(21.7)
Currency	(0.7)
Reserve, Ending Balance	22.9
2012 Actions | Severance and related costs
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance	0
Restructuring charges	21.6
Usage	(1.6)
Currency	(0.5)
Reserve, Ending Balance	19.5
2012 Actions | Facility closures
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance	0
Restructuring charges	7.2
Usage	(3.6)
Currency	(0.2)
Reserve, Ending Balance	3.4
Pre-2012 Actions
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance	125.2
Restructuring charges	(2.4)
Usage	(17.9)
Currency	(2.5)
Reserve, Ending Balance	102.4
Pre-2012 Actions | Severance and related costs
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance	112.1
Restructuring charges	2.5
Usage	(17.2)
Currency	(2.5)
Reserve, Ending Balance	89.9
Pre-2012 Actions | Facility closures
Restructuring Cost and Reserve [Line Items]
Reserve, Beginning Balance	13.1
Restructuring charges	0.1
Usage	(0.7)
Currency	0
Reserve, Ending Balance	$ 12.5

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Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market fund	$ 9.7	$ 68.0
Derivative assets	97.3	99.0
Derivative liabilities	132.0	91.5
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market fund	9.7	68.0
Derivative assets	0	0
Derivative liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market fund	0	0
Derivative assets	97.3	99.0
Derivative liabilities	$ 132.0	$ 91.5

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Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 30, 2013

Accumulated Other Comprehensive Income [Abstract]

Changes to the components of accumulated other comprehensive income (loss)

The table below sets forth the changes to the components of accumulated other comprehensive income (loss) for the three months ended March 30, 2013 (in millions):

	Currency translation adjustment		Unrealized (losses) gains on cash flow hedges, net of tax		Unrealized (losses) gains on net investment hedges, net of tax		Pension (losses) gains, net of tax		Total
Balance - December 29, 2012	29.4		(93.5	)	(63.3	)	(260.6	)	(388.0	)
Other comprehensive (loss) income before reclassifications	(194.5	)	3.0		36.5		7.5		(147.5	)
Reclassification adjustments to earnings	—		3.5		—		1.8		5.3
Net other comprehensive (loss) income	(194.5	)	6.5		36.5		9.3		(142.2	)
Balance - March 30, 2013	(165.1	)	(87.0	)	(26.8	)	(251.3	)	(530.2	)

Reclassifications out of accumulated other comprehensive income (loss)

The reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 30, 2013 were as follows (in millions):

Reclassifications from accumulated other comprehensive income (loss) to earnings	Reclassification adjustments	Affected line item in Consolidated Statements of Operations And Comprehensive Income
Realized losses on cash flow hedges	(5.6)	Cost of sales
Tax effect	2.1	Income taxes on continuing operations
Realized losses on cash flow hedges, net of tax	(3.5)
Amortization of defined benefit pension items:
Actuarial losses	(1.6)	Cost of sales
Actuarial losses	(1.0)	Selling, general and administrative
Total before taxes	(2.6)
Tax effect	0.8	Income taxes on continuing operations
Amortization of defined benefit pension items, net of tax	(1.8)

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Long-Term Debt and Financing Arrangements - Additional Information (Detail) (USD $) Share data in Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Debt Instrument [Line Items]
Unamortized gain on terminated swap	4,900,000
Long-term debt fair value adjustment	16,200,000
Commercial paper borrowings outstanding	1,331,100,000
Commercial paper borrowings capacity	2,000,000,000
Notes payable due 2016 | Fixed-to-Floating Interest Rate Swaps Terminated
Debt Instrument [Line Items]
Debt instrument, face amount	300,000,000
Unamortized gain on terminated swap	10,100,000
Long-term debt fair value adjustment	15,000,000
Notes payable due 2021 | Fixed-to-Floating Interest Rate Swaps Terminated
Debt Instrument [Line Items]
Unamortized gain on terminated swap	15,900,000
Notes payable due 2021 | Fixed to Floating Interest Rate Swap
Debt Instrument [Line Items]
Debt instrument, face amount	400,000,000
Unamortized gain on terminated swap	300,000
Notes payable due 2028 | Fixed to Floating Interest Rate Swap
Debt Instrument [Line Items]
Debt instrument, face amount	150,000,000
Unamortized gain on terminated swap	1,500,000
Notes payable due 2040
Debt Instrument [Line Items]
Unamortized gain on terminated swap	300,000
Notes payable due 2040 | Fixed to Floating Interest Rate Swap
Debt Instrument [Line Items]
Debt instrument, face amount	400,000,000
Unamortized gain on terminated swap	15,000,000
Number of stock warrants
Debt Instrument [Line Items]
Antidilutive securities excluded from the computation of EPS	0	4,939

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Income Taxes

3 Months Ended

Mar. 30, 2013

Income Taxes

Income Taxes

The Company recognized income tax expense of $8.8 million for the three month period ended March 30, 2013, resulting in an effective tax rate of 9.7%. The effective tax rate differs from the U.S. statutory tax rate for the three month period ended March 30, 2013 primarily due to a portion of the Company's earnings realized in lower-taxed foreign jurisdictions, the acceleration of certain tax credits and the favorable impact of the enactment of U.S. tax legislation in January which had retroactive effect on the tax rate.

The Company recognized income tax expense of $29.8 million for the three month period ended March 31, 2012, resulting in an effective tax rate of 22.0%. The effective tax rate differs from the statutory tax rate for the three month period ended March 31, 2012, primarily due to a portion of the Company's earnings realized in lower-taxed foreign jurisdictions.

The Company is subject to the examination of its income tax returns by the Internal Revenue Service and other taxing authorities both domestically and internationally. The final outcome of the future tax consequences of these examinations and legal proceedings, as well as, the outcome of competent authority proceedings, changes and interpretation in regulatory tax laws, or expiration of statute of limitations could impact the Company's financial statements. Accordingly, the Company has tax reserves recorded for which it is reasonably possible that the amount of the unrecognized tax benefit will increase or decrease which could have a material effect on the financial results for any particular fiscal quarter or year. However, based on the uncertainties associated with litigation and the status of examinations, including the protocols of finalizing audits by the relevant tax authorities which could include formal legal proceedings, it is not possible to estimate the impact of any such change.

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Subsequent Events

3 Months Ended

Mar. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On April 8, 2013, the Second Closing of the HHI sale was completed in which the residential portion of the Tong Lung business was sold to Spectrum for $93.5 million in cash. The related gain on sale will be finalized and recorded in the second quarter of 2013. The operating results for the residential portion of Tong Lung are reported as discontinued operations for the three months ended March 30, 2013.

On April 25, 2013, the Company settled both its ASR and capped call contracts with certain financial institutions for a total of approximately 2.2 million shares, which will be delivered to the Company in the second quarter of 2013.

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Changes in Carrying Amount of Goodwill by Segment (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013
Goodwill [Line Items]
Goodwill Beginning Balance	$ 7,021.1
Addition from acquisitions	410.9
Foreign currency translation	(93.1)
Goodwill Ending Balance	7,338.9
Construction and Do It Yourself
Goodwill [Line Items]
Goodwill Beginning Balance	3,030.5
Addition from acquisitions	1.1
Foreign currency translation	(44.2)
Goodwill Ending Balance	2,987.4
Industrial Segment
Goodwill [Line Items]
Goodwill Beginning Balance	1,394.3
Addition from acquisitions	367.8
Foreign currency translation	(31.4)
Goodwill Ending Balance	1,730.7
Securities Industry
Goodwill [Line Items]
Goodwill Beginning Balance	2,596.3
Addition from acquisitions	42.0
Foreign currency translation	(17.5)
Goodwill Ending Balance	$ 2,620.8

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Basis of Presentation - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended					1 Months Ended	0 Months Ended
	Mar. 30, 2013	Mar. 31, 2012	Dec. 29, 2012	Mar. 30, 2013 Tong Lung [Member] [Member]	Dec. 29, 2012 Tong Lung [Member] [Member]	Dec. 29, 2012 Hardware and Home Improvement [Member]	Apr. 08, 2013 Second Closing [Member] Tong Lung [Member] [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Liabilities of Assets Held-for-sale	$ 7.7		$ 30.9	$ 7.7	$ 30.3
Proceeds from sales of businesses						1,400.0	93.5
Disposal Group, Including Discontinued Operation, Revenue	22.3	226.8
Assets Held-for-sale, Current	$ 83.9		$ 135.2	$ 83.9	$ 133.4

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
OPERATING ACTIVITIES
Net earnings attributable to common shareowners	$ 81.1	$ 121.8
Less: net earnings (loss) from discontinued operations	0.9	(15.5)
Add: net loss attributable to non-controlling interests	(0.4)	(0.7)
Net earnings from continuing operations	81.6	105.6
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization of property, plant and equipment	58.5	63.2
Amortization of intangibles	47.3	52.6
Asset Impairment Charges	16.5	0
Changes in working capital	(195.0)	(152.2)
Changes in other assets and liabilities	(155.9)	(117.7)
Cash provided by operating activities	(147.5)	(32.3)
INVESTING ACTIVITIES
Capital expenditures	(79.5)	(61.5)
Business acquisitions, net of cash acquired	(853.9)	(114.7)
Proceeds from sale of assets	1.0	1.9
Proceeds (payments) on net investment hedge settlements	(9.2)	2.0
Cash provided by (used in) investing activities	(941.6)	(172.3)
FINANCING ACTIVITIES
Payments on long-term debt	(0.6)	(0.3)
Stock purchase contract fees	(0.8)	(0.8)
Net short-term borrowings	1,330.5	196.8
Cash dividends on common stock	(79.1)	(69.9)
Payments for Repurchase of Equity	(350.0)	0
Termination of interest rate swaps	0	35.8
Termination of forward starting interest rate swap	0	(56.4)
Proceeds from the issuance of common stock	83.2	64.6
Purchase of common stock for treasury	(21.1)	(10.9)
Cash provided by (used in) financing activities	962.1	158.9
Effect of exchange rate changes on cash and cash equivalents	(31.5)	22.4
Change in cash and cash equivalents	(158.5)	(23.3)
Cash and cash equivalents, beginning of period	716.0	906.9
CASH AND CASH EQUIVALENTS, END OF PERIOD	557.5	883.6
Niscayah [Member]
INVESTING ACTIVITIES
Business acquisitions, net of cash acquired		$ (114.7)

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Inventories

3 Months Ended

Mar. 30, 2013

Inventories

Inventories

The components of inventories, net at March 30, 2013 and December 29, 2012 are as follows (in millions):

	2013		2012
Finished products	$	1,144.7	$	962.0
Work in process	133.5		124.1
Raw materials	261.5		229.9
Total	$	1,539.7	$	1,316.0

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Equity Arrangements - Additional Information (Detail) (USD $) In Millions, except Share data, unless otherwise specified	0 Months Ended	1 Months Ended	3 Months Ended		12 Months Ended		1 Months Ended					1 Months Ended	3 Months Ended	1 Months Ended				0 Months Ended	1 Months Ended		0 Months Ended	1 Months Ended
	Apr. 25, 2013	Dec. 29, 2012	Mar. 30, 2013	Mar. 31, 2012	Dec. 31, 2011	Nov. 30, 2010	Nov. 30, 2010 Capped call (equity options)	Mar. 30, 2013 Capped call (equity options)	Mar. 30, 2013 Convertible notes payable due in 2018 (junior subordinated)	Dec. 29, 2012 Convertible notes payable due in 2018 (junior subordinated)	Nov. 30, 2010 Convertible notes payable due in 2018 (junior subordinated)	Nov. 30, 2010 Maximum Capped call (equity options)	Mar. 30, 2013 Maximum Capped call (equity options)	Nov. 30, 2010 Minimum Capped call (equity options)	Nov. 30, 2010 Convertible Preferred Units	Mar. 30, 2013 Convertible Preferred Units	Nov. 30, 2010 Convertible Preferred Units On or after December 22, 2015	Apr. 25, 2013 Purchased Call Option [Member]	Nov. 30, 2012 Purchased Call Option [Member]	Mar. 30, 2013 Purchased Call Option [Member]	Apr. 25, 2013 Subsequent Event [Member]	Jan. 31, 2013 Subsequent Event [Member]
Stockholders Equity Note [Line Items]
Forward share purchase contract			$ 350.0	$ 0	$ 350.0																	$ 362.7
Accelerated Share Repurchases, Authorized Amount		850
Payments for Repurchase of Common Stock		850.0	21.1	10.9
Accelerated Share Repurchases, Initial Delivery of Shares Repurchased		9,345,794
Accelerated Share Repurchases, Initial Value of Shares Repurchased		680
Accelerated Share Repurchases, Initial Price Paid Per Share		$ 72.76
Forward Contract Indexed to Issuer's Equity, Settlement Alternatives, Cash, at Fair Value		170
Accelerated Share Repurchases, Final Delivery of Shares Repurchased	1,600,000																				2,200,000
Forward share purchase contract, shares purchased					5,581,400
Long-term debt, including current maturities		3,536.9	3,504.7						632.5	632.5	632.5
Convertible preferred units issued															6,325,000
Convertible preferred units issued, per share															$ 100
Stated interest rate															4.75%
Convertible preferred stock, conversion rate															1.3333	1.3501
Conversion price (in dollars per share)															$ 75.00	$ 74.07
Debt Instrument, Number of Shares of Convertible Preferred Stock to be Delivered, As a Percentage of Purchase Contracts			85.00%
Common stock to be issued up on conversion															8,433,123
Convertible preferred stock, redemption price as a percent of liquidation preference																	100.00%
Convertible preferred stock, liquidation preference per share																	$ 100
Over the counter capped call purchased, maturity period						5 years
Number of common shares purchased under call option							8,433,123											600,000	10,094,144
Option Indexed to Issuer's Equity, Premium Amount																			29.5
Option Indexed to Issuer's Equity, Average Premium Price Per Share																			$ 2.92
Option Indexed to Issuer's Equity, Average Lower Strike Price																			$ 71.43
Option Indexed to Issuer's Equity, Average Upper Strike Price																			$ 79.75
Option Indexed to Issuer's Equity, Aggregate Fair Value																				13.1
Call option, aggregate premium							50.3
Call option, average price (in dollars per share)							$ 5.97
Open option contracts written at fair value								$ 80.3
Strike price (in dollars per share)												$ 97.95	$ 96.73	$ 75.00
Debt Instrument Convertible Conversion Warrant Strike Price, Percentage Higher than Previous Price on November 1, 2010						60.00%

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Business Segments (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Segment Reporting Information [Line Items]
NET SALES	$ 2,487.2	$ 2,426.1
Segment profit	310.0	341.1
Corporate overhead	(69.0)	(66.4)
Other-net	(71.0)	(67.9)
Restructuring charges and asset impairments recognized	(42.9)	(40.0)
Interest expense	(39.9)	(33.9)
Interest income	3.2	2.5
Earnings from continuing operations before income taxes	90.4	135.4
Construction and Do It Yourself
Segment Reporting Information [Line Items]
Restructuring charges and asset impairments recognized	(1.0)
Securities Industry
Segment Reporting Information [Line Items]
Restructuring charges and asset impairments recognized	(24.9)
Industrial Segment
Segment Reporting Information [Line Items]
Restructuring charges and asset impairments recognized	(2.5)
Segment, Continuing Operations | Construction and Do It Yourself
Segment Reporting Information [Line Items]
NET SALES	1,192.4	1,172.0
Segment profit	169.2	148.4
Segment, Continuing Operations | Securities Industry
Segment Reporting Information [Line Items]
NET SALES	599.4	592.1
Segment profit	55.3	69.8
Segment, Continuing Operations | Industrial Segment
Segment Reporting Information [Line Items]
NET SALES	695.4	662.0
Segment profit	$ 85.5	$ 122.9

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Earnings Per Share (Tables)

3 Months Ended

Mar. 30, 2013

Reconciliation of Net Earnings Attributable to Common Shareowners and Weighted-Average Shares Outstanding used to Calculate Basic and Diluted Earnings per Share

The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate basic and diluted earnings per share for the three months ended March 30, 2013 and March 31, 2012:

	Year-to-Date
	2013			2012
Numerator (in millions):
Net earnings from continuing operations attributable to common shareowners	$	82.0		$	106.3
Net (loss) earnings from discontinued operations	(0.9		)	15.5
Net earnings attributable to common shareowners	$	81.1		$	121.8
Less: Earnings attributable to participating restricted stock units (“RSU’s”)	(0.1		)	(0.2		)
Net Earnings — basic	$	81.0		$	121.6
Net Earnings — dilutive	$	81.1		$	121.8

	Year-to-Date
	2013			2012
Denominator (in thousands):
Basic earnings per share — weighted-average shares	155,552			164,530
Dilutive effect of stock options, awards and convertible preferred units and notes	3,442			4,418
Diluted earnings per share — weighted-average shares	158,994			168,948
Earnings per share of common stock:
Basic earnings per share of common stock:
Continuing operations	$	0.53		$	0.65
Discontinued operations	(0.01		)	0.09
Total basic earnings per share of common stock	$	0.52		$	0.74
Diluted earnings per share of common stock:
Continuing operations	$	0.52		$	0.63
Discontinued operations	(0.01		)	0.09
Total dilutive earnings per share of common stock	$	0.51		$	0.72

Weighted-Average Stock Options and Warrants Outstanding Not included in Computation of Diluted Shares Outstanding

The following weighted-average stock options and warrants were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in thousands):

	Year-to-Date
	2013	2012
Number of stock options	995	1,686
Number of stock warrants	—	4,939

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Guarantees - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013
Guarantor Obligations [Line Items]
Guarantee Obligations Maximum Potential Payment	$ 113.2
Carrying amount of guarantees recorded in the consolidated balance sheet	13.2
Guaranteed Lease Residual Values
Guarantor Obligations [Line Items]
Guarantee Obligations Maximum Potential Payment	26.4
Capital Leased Assets, Noncurrent, Fair Value Disclosure	30.8
Commercial customer financing arrangements
Guarantor Obligations [Line Items]
Guarantee Obligations Maximum Potential Payment	17.2
Carrying amount of guarantees recorded in the consolidated balance sheet	$ 13.2

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Business Segments (Tables)

3 Months Ended

Mar. 30, 2013

Business Segments

	Year-to-Date
	2013			2012
NET SALES
CDIY	$	1,192.4		$	1,172.0
Security	599.4			592.1
Industrial	695.4			662.0
Total	$	2,487.2		$	2,426.1
SEGMENT PROFIT
CDIY	$	169.2		$	148.4
Security	55.3			69.8
Industrial	85.5			122.9
Segment profit	310.0			341.1
Corporate overhead	(69.0		)	(66.4		)
Other-net	(71.0		)	(67.9		)
Restructuring charges and asset impairments	(42.9		)	(40.0		)
Interest expense	(39.9		)	(33.9		)
Interest income	3.2			2.5
Earnings from continuing operations before income taxes	$	90.4		$	135.4

Summary of Total Assets by Segment

The following table is a summary of total assets by segment as of March 30, 2013 and December 29, 2012:

	March 30, 2013		December 29, 2012
CDIY	$	7,671.1	$	7,437.9
Security	4,494.1		4,728.9
Industrial	4,618.8		3,456.9
	16,784.0		15,623.7
Discontinued Operations	83.9		135.2
Corporate assets	29.6		85.1
Consolidated	$	16,897.5	$	15,844.0

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Restructuring Charges

3 Months Ended

Mar. 30, 2013

Restructuring Charges

Restructuring & Asset Impairments

A summary of the restructuring reserve activity from December 29, 2012 to March 30, 2013 is as follows (in millions):

	12/29/2012		Additions (Reversals), net			Usage			Currency			3/30/2013
2013 Actions
Severance and related costs	$	—	$	21.6		$	(1.6	)	$	(0.5	)	$	19.5
Facility closures	$	—	$	7.2		$	(3.6	)	$	(0.2	)	$	3.4
Asset Impairments	$	—	$	16.5		$	(16.5	)	$	—		$	—
Subtotal 2013 actions	$	—	$	45.3		$	(21.7	)	$	(0.7	)	$	22.9
Pre-2013 Actions
Severance and related costs	$	112.1	$	(2.5	)	$	(17.2	)	$	(2.5	)	$	89.9
Facility closures	13.1		0.1			(0.7		)	—			12.5
Subtotal Pre-2013 actions	$	125.2	$	(2.4	)	$	(17.9	)	$	(2.5	)	$	102.4
Total	$	125.2	$	42.9		$	(39.6	)	$	(3.2	)	$	125.3

In the first three months of 2013, the Company continued with restructuring activities primarily associated with the Black & Decker merger, Niscayah and other acquisitions, and recognized $45.3 million of restructuring charges related to activities initiated in the current year. Of those charges, $21.6 million relates to severance charges associated with the reduction of approximately 250 employees and $7.2 million relates to facility closure costs. The Company also recorded $16.5 million of asset impairment charges.

The majority of the $125.3 million of reserves remaining as of March 30, 2013 is expected to be utilized in 2013.

Segments: The $42.9 million of charges recognized in the first three months of 2013 includes: $1.0 million of net reserve reductions pertaining to the CDIY segment; $24.9 million of charges pertaining to the Security segment; $2.5 million of charges pertaining to the Industrial segment; and $16.5 million pertaining to Corporate charges.