Black & Decker 2011 Annual Report Download - page 108

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96
Stanley Black & Decker, Inc.
Condensed Consolidating Statement of Operations
(Millions of Dollars)
Year Ended January 1, 2011
Parent
Stanley Black
& Decker, Inc.
The
Black
&
Decker
Corporation
Non-Guarantor
Subsidiaries
Eliminations
Consolidated
NET SALES
................................
............................
$ 1,565.4
$ —
$ 7,175.0
$ (396.5) $ 8,343.9
COSTS AND EXPENSES
Cost of sales ................................
.............................
1,043.1
—
4,688.6
(322.6) 5,409.1
Selling, general and administrative
..........................
560.9
96.3
1,570.1
(73.9) 2,153.4
Other, net ................................................................
.
38.4
(207.7) 368.4
—
199.1
Restructuring charges and asset impairments
..........
25.4
91.3
125.2
—
241.9
Interest expense, net ................................
.................
56.0
89.5
(44.9) —
100.6
1,723.8
69.4
6,707.4
(396.5) 8,104.1
(Loss) earnings from continuing operations before
income taxes (benefit) and equity in earnings of
subsidiaries ................................
..........................
(158.4) (69.4) 467.6
—
239.8
Income taxes (benefit) on continuing operations
before equity in earnings of subsidiaries
.............
(35.6) (29.2) 102.5
—
37.7
Equity in earnings of subsidiaries
............................
324.9
162.7
—
(487.6) —
Earnings from continuing operations
.......................
202.1
122.5
365.1
(487.6) 202.1
Less: Net (loss) attributable to non-controlling
interests ................................
...............................
—
—
—
—
—
Net earnings from continuing operations
attributable to common shareowners
...................
202.1
122.5
365.1
(487.6) 202.1
Net (loss) from discontinued operations
..................
(3.9) —
(3.9) 3.9
(3.9)
NET EARNINGS ATTRIBUTABLE TO
COMMON SHAREOWNERS
.........................
$ 198.2
$ 122.5
$ 361.2
$ (483.7) $ 198.2