EX-12 18 y01183exv12.htm EX-12: STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12
EXHIBIT 12
 
THE STANLEY WORKS AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years ended January 3, 2009, December 29, 2007, December 30, 2006, December 31,
2005, and January 1, 2005
(Millions of Dollars)
 
                                         
    Fiscal Year  
    2008     2007     2006     2005     2004  
Earnings from continuing operations before income taxes and minority interest
      $303.7         $436.9         $351.7         $342.9         $311.7  
Add:
                                       
Interest expense
    82.0       85.2       69.3       40.4       38.6  
Portion of rents representative of interest factor
    19.7       19.2       15.7       12.7       9.7  
                                         
Income as adjusted
     $405.4        $541.3        $436.7        $396.0        $360.0  
Fixed charges:
                                       
Interest expense
     $82.0        $85.2        $69.3        $40.4        $38.6  
Portion of rents representative of interest factor
    19.7       19.2       15.7       12.7       9.7  
                                         
Fixed charges
     $101.7        $104.4        $85.0        $53.1        $48.3  
                                         
Ratio of earnings to fixed charges
    4.0       5.2       5.1       7.5       7.5  
                                         


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