Black & Decker 2014 Annual Report Download - page 147

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FINANCIAL AND INVESTOR COMMUNICATIONS
The Stanley Black & Decker investor relations department
provides information to shareowners and the financial
community. We encourage inquiries and will provide services
which include:
• Fulfilling requests for annual reports, proxy statements,
forms -Q and -K, copies of press releases and other
Company information.
• Meetings with securities analysts and fund managers.
Contact the Stanley Black & Decker investor relations
department at our corporate oces by calling Greg Waybright,
VP, Investor & Government Relations at  
or by mail at  Stanley Drive, New Britain, CT .
We make earnings releases available online on the Internet
on the day that results are released to the news media.
Stanley Black & Decker releases and a variety of shareowner
information can be found at the Company’s website:
www.stanleyblackanddecker.com.
FINANCIAL HIGHLIGHTS AND SCORECARD FOOTNOTES
(b) The Company has excluded the 2014, 2013, 2012, 2011,
and 2010 after-tax merger and acquisition-related charges
of $49 million ($0.30 of diluted EPS), $270 million ($1.70
of diluted EPS), $329 million ($1.97 of diluted EPS), $180
million ($1.06 of diluted EPS), and $380 million ($2.53 of
diluted EPS), respectively, in the calculation of diluted
EPS. These amounts were excluded because the Company
believes doing so provides a better indicator of operating
trends when analyzing diluted EPS, due to the unusually
large magnitude of these charges and the fact that they are
non-recurring. Therefore, the Company has provided these
measures both including and excluding such charges.
(c) Free Cash Flow = Net cash provided by operating activities
minus capital expenditures.
(d) Working Capital turns are computed as year-end working
capital (accounts receivable, inventory, accounts payable,
and deferred revenue) divided by fourth quarter sales,
annualized.
(e) Average Capital Employed is computed by dividing the
2-point average of debt and equity.
(f) CFROI is computed as cash from operations plus
after-tax expense, divided by the 2-point average of
debt and equity.
CAUTIONARY STATEMENTS UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 
Statements in this Annual Report that are not historical, including,
but not limited to, those that often contain words such as “expect,”
“anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will,”
are “forward-looking statements” and subject to risk and
uncertainty. The results that are expressed or implied in such
statements involve inherent risks and uncertainties that
could cause actual outcomes and results to dier materially
from those expectations, including, but not limited to, the
risks, uncertainties and other factors set forth or referred to
under Item 1A Risk Factors and Item 7 MD&A of the Company’s
2014 Annual Report on Form 10-K that is part of this Annual
Report, and any material changes thereto set forth in any
subsequent Quarterly Reports on Form 10-Q, as well as those
contained in the Company’s other filings with the Securities
and Exchange Commission. 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.
Visit www.yearinreview.stanleyblackanddecker.com to view
pictures that bring exciting aspects of the Stanley Black &
Decker story to life, to explore our financials, and to read
about our businesses, our brands and our plans forgrowth.
Concept and Design: Ideas On Purpose, ideasonpurpose.com
Printing: DG
This book was printed using only recycled paper.
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