Black & Decker 2010 Annual Report Download - page 62

(iii) may apply standards of materiality in a way that is different from what may be viewed as material by or
to investors in or lenders to the Company; and (iv) were made only as of the date of the applicable agreement
or such other date or dates as may be specified in the agreement and are subject to more recent developments.
Accordingly, representations and warranties, recitals or other disclosures contained in agreements may not
describe the actual state of affairs as of the date they were made or at any other time and should not be relied
on by any person other than the parties thereto in accordance with their terms. Additional information about
the Company may be found in this Annual Report on Form 10-K and the Company’s other public filings,
which are available without charge through the SEC’s website at http://www.sec.gov.
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The Company incorporates by reference the material captioned “Market Risk” in Item 7 and the material in
Note I, Derivative Financial Instruments, of the Notes to Consolidated Financial Statements in Item 8.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
See Item 15 for an index to Financial Statements and Financial Statement Schedules. Such Financial
Statements and Financial Statement Schedules are incorporated herein by reference.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
The management of Stanley Black & Decker (the “Company”) is responsible for establishing and maintaining
adequate internal control over financial reporting. Internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external reporting purposes in accordance with accounting principles generally
accepted in the United States of America. Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Management has assessed the effectiveness of the
Company’s internal control over financial reporting as of January 1, 2011. In making its assessment,
management has utilized the criteria set forth by the Committee of Sponsoring Organizations (“COSO”) of the
Treadway Commission in Internal Control — Integrated Framework. Management concluded that based on its
assessment, the Company’s internal control over financial reporting was effective as of January 1, 2011.
Ernst & Young LLP, the auditor of the financial statements included in this annual report, has issued an
attestation report on the registrant’s internal control over financial reporting, a copy of which appears on
page 56.
Under the supervision and with the participation of management, including the Company’s President and Chief
Executive Officer and its Senior Vice President and Chief Financial Officer, the Company has, pursuant to
Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), evaluated the
effectiveness of the design and operation of its disclosure controls and procedures (as defined under
Rule 13a-15(e) of the Exchange Act). Based upon that evaluation, the Company’s President and Chief
Executive Officer and its Senior Vice President and Chief Financial Officer have concluded that, as of
January 1, 2011, the Company’s disclosure controls and procedures are effective. There has been no change in
the Company’s internal control over financial reporting that occurred during the fiscal year ended January 1,
2011 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control
over financial reporting.
ITEM 9B. OTHER INFORMATION
None
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