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SELECTED QUARTERLY FINANCIAL DATA SELECTED QUARTERLY FINANCIAL DATA
 12 Months Ended
Dec. 28, 2013
Quarterly Financial Information [Text Block]
SELECTED QUARTERLY FINANCIAL DATA (unaudited) 
 
 
Quarter
 
 
(Millions of Dollars, except per share amounts)
 
First
 
Second
 
Third
 
Fourth
 
Year
2013
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
2,476.5

 
$
2,859.4

 
$
2,759.3

 
$
2,906.0

 
$
11,001.2

Gross profit
 
908.6

 
1,005.9

 
987.7

 
1,030.7

 
3,932.9

Selling, general and administrative expenses
 
664.7

 
677.2

 
669.6

 
703.1

 
2,714.6

Net earnings from continuing operations
 
84.7

 
197.4

 
169.6

 
65.6

 
517.3

Less: Net loss attributable to non-controlling interest
 
(0.4
)
 
(0.3
)
 
(0.3
)
 
(0.1
)
 
(1.0
)
Net earnings from continuing operations attributable to Stanley Black & Decker, Inc.
 
85.1

 
197.7

 
169.9

 
65.7

 
518.3

Net loss from discontinued operations
 
(4.0
)
 
(10.6
)
 
(3.9
)
 
(9.6
)
 
(28.0
)
Net earnings attributable to Stanley Black & Decker, Inc.
 
$
81.1

 
$
187.1

 
$
166.0

 
$
56.1

 
$
490.3

Basic earnings (loss) per common share:
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.55

 
$
1.27

 
$
1.10

 
$
0.42

 
$
3.34

Discontinued operations
 
(0.03
)
 
(0.07
)
 
(0.02
)
 
(0.06
)
 
(0.18
)
Total basic earnings per common share
 
$
0.52

 
$
1.21

 
$
1.07

 
$
0.36

 
$
3.16

Diluted earnings (loss) per common share:
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.53

 
$
1.25

 
$
1.07

 
$
0.41

 
$
3.26

Discontinued operations
 
(0.02
)
 
(0.07
)
 
(0.02
)
 
(0.06
)
 
(0.18
)
Total diluted earnings per common share
 
$
0.51

 
$
1.18

 
$
1.04

 
$
0.35

 
$
3.09

2012
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
2,414.0

 
$
2,557.2

 
$
2,517.2

 
$
2,659.5

 
$
10,147.9

Gross profit
 
908.6

 
928.9

 
911.9

 
946.1

 
3,695.5

Selling, general and administrative expenses
 
632.6

 
621.5

 
609.2

 
636.6

 
2,499.9

Net earnings from continuing operations
 
107.9

 
128.4

 
90.0

 
137.7

 
464.0

Less: Net (loss) earnings attributable to non-controlling interest
 
(0.7
)
 
(0.3
)
 
(0.2
)
 
0.4

 
(0.8
)
Net earnings from continuing operations attributable to Stanley Black & Decker, Inc.
 
108.6

 
128.7

 
90.2

 
137.3

 
464.8

Net earnings from discontinued operations
 
13.2

 
26.1

 
25.0

 
354.8

 
419.0

Net earnings attributable to Stanley Black & Decker, Inc.
 
$
121.8

 
$
154.8

 
$
115.2

 
$
492.1

 
$
883.8

Basic earnings per common share:
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.66

 
$
0.78

 
$
0.55

 
$
0.85

 
$
2.85

Discontinued operations
 
0.08

 
0.16

 
0.15

 
2.20

 
2.57

Total basic earnings per common share
 
$
0.74

 
$
0.94

 
$
0.71

 
$
3.05

 
$
5.41

Diluted earnings per common share:
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.64

 
$
0.77

 
$
0.54

 
$
0.83

 
$
2.79

Discontinued operations
 
0.08

 
0.15

 
0.15

 
2.16

 
2.51

Total diluted earnings per common share
 
$
0.72

 
$
0.92

 
$
0.69

 
$
2.99

 
$
5.30

The quarterly amounts above have been adjusted for the divestiture of HHI as well as for two small businesses within the Security and Industrial segments, which have been excluded from continuing operations and are reported as discontinued operations. Refer to Note T, Discontinued Operations, of the Notes to Consolidated Financial Statements in Item 8 for further discussion.
During 2013, the Company recognized $394 million ($273 million after tax, or $1.72 per diluted share), in charges on continuing operations primarily associated with merger and acquisitions-related charges pertaining to the Black & Decker merger and Niscayah and Infastech acquisitions, including facility closure-related charges, employee-related charges and integration costs, as well as cost containment charges and a restructuring reversal in the second quarter due to the termination of a previously approved restructuring action. Other charges relate to the loss on extinguishment of debt.
The impact of these merger and acquisition-related charges and effect on diluted earnings per share by quarter was as follows:
 
 
 
 
Merger and Acquisition-Related Charges
  
Diluted EPS Impact
• Q1 2013 —   $106 million ($81 million after-tax)
  
$0.51 per diluted share
• Q2 2013 —   $5 million (($4) million after-tax)
  
($0.02) per diluted share
• Q3 2013 —   $67 million ($51 million after-tax)
  
$0.32 per diluted share
• Q4 2013 —   $215 million ($144 million after-tax)
  
$0.91 per diluted share
During 2012, the Company recognized $442 million ($329 million after tax), or $1.97 per diluted share, in charges on continuing operations primarily associated with merger and acquisitions-related charges (including facility closure-related charges, integration-related administration costs and consulting fees, as well as transaction cost), the charges associated with the $200 million in cost actions implemented in 2012, as well as the charges associated with the extinguishment of debt during the third quarter of 2012. The impact of these merger and acquisition-related charges and effect on diluted earnings per share by quarter was as follows:
 
 
 
 
Merger and Acquisition-Related Charges
  
Diluted EPS Impact
• Q1 2012 —   $80 million ($59 million after-tax)
  
$0.35 per diluted share
• Q2 2012 —   $74 million ($63 million after-tax)
  
$0.37 per diluted share
• Q3 2012 —   $157 million ($113 million after-tax)
  
$0.68 per diluted share
• Q4 2012 —   $131 million ($95 million after-tax)
  
$0.58 per diluted share
In the third and fourth quarter of 2012, the Company recognized an income tax benefit attributable to the settlement of certain tax contingencies of $7 million, or $0.04 per diluted share, and $42 million, or $0.25 per diluted share, respectively.