Black & Decker 2012 Annual Report Download - page 163

FINANCIAL AND INVESTOR COMMUNICATIONS
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 Kate Vanek, 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 , , and 
after-tax merger and acquisition-related charges of
$ million ($. of diluted EPS), $ million
($. of diluted EPS), and $ million ($. of diluted
EPS), respectively, in the calculation of diluted EPS.
Additionally the Company has excluded $ million
($. of diluted EPS) in the  calculation of diluted
EPS. These amounts were excluded because the
Company believes these are better indicators 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. In , , and  free
cash flow excludes $ million, $ million, and
$ million, respectively, of merger and acquisition-related
charges and payments incurred primarily in connection
with the Black & Decker merger and acquisition of
Niscayah. Such normalized free cash flow is considered
a meaningful metric to aid the understanding of the
Company’s cash flow performance aside from the
material impact of these merger and acquisition-related
payments. In , free cash flow also excludes income
taxes paid on the gain from the CST/Berger divesture
due to the fact the taxes are non-recurring and the
related gross cash proceeds are classified as investing
inflows. Refer to page  in the enclosed -K for the
reconciliation of operating cash flow to free cash flow.
(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
-point average of debt and equity.
(f) ROCE is computed as net earnings from continuing
operations plus after-tax expense and after-tax amortization
of intangibles, divided by the -point average of debt and
equit y. In , , and , net earnings from continuing
operations excludes $ million, $ million, and
$ million, respectively, of merger and acquisition-related
charges and payments incurred primarily in connection with
the Black & Decker merger and Niscayah acquisition.
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 A Risk Factors and Item 
MD&A of the Company’s  Annual Report on the Form -K
that is part of this Annual Report, and any material changes
thereto set forth in any subsequent Quarterly Reports on Form
-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
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