Black & Decker 2011 Annual Report Download - page 107

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95
The following tables, in accordance with Rule 3-10(e) of Regulation S-X for the Stanley Notes, and Rule 3-10(c) of Regulation S-X
for the Black & Decker Notes, present the condensed consolidating balance sheets as of December 31, 2011 and January 1, 2011; the
condensed consolidating statements of operations for the years ended December 31, 2011, January 1, 2011, and January 2, 2010; and
the condensed consolidating statements of cash flows for the years ended December 31, 2011, January 1, 2011, and January 2, 2010.
The condensed consolidated financial statements for the year ended January 1, 2011 include the results of Black & Decker from the
Merger date. The 2009 comparative condensed consolidating financial statements reflect only the historical Stanley business.
Stanley Black & Decker, Inc.
Condensed Consolidating Statement of Operations
(Unaudited, Millions of Dollars)
Year Ended December 31, 2011
Parent
Stanley Black
& Decker, Inc.
The
Black
&
Decker
Corporation
Non-Guarantor
Subsidiaries
Eliminations
Consolidated
NET SALES................................
............................
$ 1,380.2
$ —
$ 9,361.1
$ (364.9) $ 10,376.4
COSTS AND EXPENSES
Cost of sales ................................
.............................
942.3
—
5,934.1
(293.5) 6,582.9
Selling, general and administrative
..........................
647.3
3.0
1,973.0
(71.4) 2,551.9
Other, net ................................................................
.
(10.4) (87.7) 375.6
—
277.5
Restructuring charges and asset impairments
..........
7.0
—
64.0
—
71.0
Interest expense, net ................................
.................
76.0
49.8
(12.5) —
113.3
1,662.2
(34.9) 8,334.2
(364.9) 9,596.6
(Loss) earnings from continuing operations before
income taxes and equity in earnings of
subsidiaries ................................
..........................
(282.0) 34.9
1,026.9
—
779.8
Income taxes (benefit) on continuing operations
before equity in earnings of subsidiaries
.............
(90.9) 13.4
166.1
—
88.6
Equity in earnings of subsidiaries
............................
882.4
568.3
—
(1,450.7) —
Net earnings from continuing op
erations
.................
691.3
589.8
860.8
(1,450.7) 691.2
Less: Net earnings attributable to non-controlling
interests ................................
...............................
—
—
(0.1) —
(0.1)
Net earnings from continuing operations
attributable to common shareowners
...................
691.3
589.8
860.9
(1,450.7) 691.3
Net (loss) from discontinued operations
..................
(16.7)
(16.7) 16.7
(16.7)
NET EARNINGS ATTRIBUTABLE TO
COMMON SHAREOWNERS
.........................
$ 674.6
$ 589.8
$ 844.2
$ (1,434.0) $ 674.6