EX-12 5 a2170173zex-12.htm EXHIBIT 12
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Exhibit 12


THE STANLEY WORKS AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years ended December 31, 2005, January 1, 2005, January 3, 2004,
December 28, 2002, and December 29, 2001 and for the fiscal quarters ended April 1, 2006
and April 2, 2005
(Millions of Dollars)

 
  Fiscal Quarter
Ended

   
   
   
   
   
 
 
  Fiscal Year
 
 
  April 1,
2006

  April 2,
2005

 
 
  2005

  2004

  2003

  2002

  2001

 
 
 
 
 
Earnings from continuing operations before income taxes   $ 50.9   $ 85.5   $ 358.2   $ 324.2   $ 118.1   $ 223.8   $ 200.1  

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Interest expense     16.8     8.8     40.4     38.6     34.1     28.1     32.1  
  Portion of rents representative of interest factor     3.9     2.9     12.7     9.7     7.3     6.0     7.3  
  Amortization of expense on long-term debt                         0.1     0.4  
  Amortization of capitalized interest                              

Deduct:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Capitalized interest                             (0.1 )
   
 
 
 
 
 
 
 
Income as adjusted   $ 71.6   $ 97.2   $ 411.3   $ 372.5   $ 159.5   $ 258.0   $ 239.8  

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Interest expense     16.8     8.8     40.4     38.6     34.1     28.1     32.1  
  Portion of rents representative of interest factor     3.9     2.9     12.7     9.7     7.3     6.0     7.3  
  Amortization of expense on long-term debt                         0.1     0.4  
  Capitalized interest                             0.1  
   
 
 
 
 
 
 
 
Fixed charges   $ 20.7   $ 11.7   $ 53.1   $ 48.3   $ 41.4   $ 34.2   $ 39.9  
   
 
 
 
 
 
 
 
Ratio of earnings to fixed charges     3.5     8.3     7.7     7.7     3.9     7.5     6.0  
   
 
 
 
 
 
 
 



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THE STANLEY WORKS AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For the fiscal years ended December 31, 2005, January 1, 2005, January 3, 2004, December 28, 2002, and December 29, 2001 and for the fiscal quarters ended April 1, 2006 and April 2, 2005 (Millions of Dollars)