Black & Decker 2013 Annual Report Download - page 107

Download and view the complete annual report

Please find page 107 of the 2013 Black & Decker annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152


7KHH[SHFWHGUDWHRIUHWXUQRQSODQDVVHWVLVGHWHUPLQHGFRQVLGHULQJWKHUHWXUQVSURMHFWHGIRUWKHYDULRXVDVVHWFODVVHVDQGWKH
UHODWLYHZHLJKWLQJIRUHDFKDVVHWFODVV7KH&RPSDQ\ZLOOXVHDZHLJKWHGDYHUDJHH[SHFWHGUDWHRIUHWXUQDVVXPSWLRQWR
GHWHUPLQHWKHQHWSHULRGLFEHQHILWFRVW
3(16,213/$1$66(76²3ODQDVVHWVDUHLQYHVWHGLQHTXLW\VHFXULWLHVJRYHUQPHQWDQGFRUSRUDWHERQGVDQGRWKHUIL[HG
LQFRPHVHFXULWLHVPRQH\PDUNHWLQVWUXPHQWVDQGLQVXUDQFHFRQWUDFWV7KH&RPSDQ\¶VZRUOGZLGHDVVHWDOORFDWLRQVDW
'HFHPEHUDQG'HFHPEHUE\DVVHWFDWHJRU\DQGWKHOHYHORIWKHYDOXDWLRQLQSXWVZLWKLQWKHIDLUYDOXH
KLHUDUFK\HVWDEOLVKHGE\$6&DUHDVIROORZVLQPLOOLRQV
$VVHW&DWHJRU\  /HYHO /HYHO
&DVKDQGFDVKHTXLYDOHQWV     
(TXLW\VHFXULWLHV
86HTXLW\VHFXULWLHV    
)RUHLJQHTXLW\VHFXULWLHV   
)L[HGLQFRPHVHFXULWLHV
*RYHUQPHQWVHFXULWLHV    
&RUSRUDWHVHFXULWLHV   ² 
0RUWJDJHEDFNHGVHFXULWLHV   ² 
,QVXUDQFHFRQWUDFWV  ² 
2WKHU   ² 
7RWDO     
$VVHW&DWHJRU\  /HYHO /HYHO
&DVKDQGFDVKHTXLYDOHQWV     
(TXLW\VHFXULWLHV
86HTXLW\VHFXULWLHV    
)RUHLJQHTXLW\VHFXULWLHV   
)L[HGLQFRPHVHFXULWLHV
*RYHUQPHQWVHFXULWLHV    
&RUSRUDWHVHFXULWLHV   ² 
0RUWJDJHEDFNHGVHFXULWLHV   ² 
,QVXUDQFHFRQWUDFWV   ² 
2WKHU   ² 
7RWDO    
86DQGIRUHLJQHTXLW\VHFXULWLHVSULPDULO\FRQVLVWRIFRPSDQLHVZLWKODUJHPDUNHWFDSLWDOL]DWLRQVDQGWRDOHVVHUH[WHQWPLG
DQGVPDOOFDSLWDOL]DWLRQVHFXULWLHV*RYHUQPHQWVHFXULWLHVSULPDULO\FRQVLVWRI867UHDVXU\VHFXULWLHVDQGIRUHLJQJRYHUQPHQW
VHFXULWLHVZLWKGHPLQLPXVGHIDXOWULVN&RUSRUDWHIL[HGLQFRPHVHFXULWLHVLQFOXGHSXEOLFO\WUDGHG86DQGIRUHLJQLQYHVWPHQW
JUDGHDQGWRDVPDOOH[WHQWKLJK\LHOGVHFXULWLHV0RUWJDJHEDFNHGVHFXULWLHVSUHGRPLQDQWO\FRQVLVWRI86KROGLQJV$VVHWV
KHOGLQLQVXUDQFHFRQWUDFWVDUHLQYHVWHGLQWKHJHQHUDODVVHWSRROVRIWKHYDULRXVLQVXUHUVPDLQO\GHEWDQGHTXLW\VHFXULWLHVZLWK
JXDUDQWHHGUHWXUQV2WKHULQYHVWPHQWVLQFOXGHGLYHUVLILHGSULYDWHHTXLW\KROGLQJV7KHOHYHOLQYHVWPHQWVDUHSULPDULO\
FRPSULVHGRILQVWLWXWLRQDOPXWXDOIXQGVWKDWDUHQRWSXEOLFO\WUDGHGWKHLQYHVWPHQWVKHOGLQWKHVHPXWXDOIXQGVDUHJHQHUDOO\
OHYHOSXEOLFO\WUDGHGVHFXULWLHV
7KH&RPSDQ\VLQYHVWPHQWVWUDWHJ\IRUSHQVLRQDVVHWVIRFXVHVRQDOLDELOLW\PDWFKLQJDSSURDFKZLWKJUDGXDOGHULVNLQJWDNLQJ
SODFHRYHUDSHULRGRIPDQ\\HDUV7KH&RPSDQ\XWLOL]HVWKHFXUUHQWIXQGHGVWDWXVWRWUDQVLWLRQWKHSRUWIROLRWRZDUG
LQYHVWPHQWVWKDWEHWWHUPDWFKWKHGXUDWLRQDQGFDVKIORZDWWULEXWHVRIWKHXQGHUO\LQJOLDELOLWLHV$VVHWVDSSUR[LPDWLQJRI
WKH&RPSDQ\VFXUUHQWSHQVLRQOLDELOLWLHVKDYHEHHQLQYHVWHGLQIL[HGLQFRPHVHFXULWLHVXVLQJDOLDELOLW\DVVHWPDWFKLQJ
GXUDWLRQVWUDWHJ\ZLWKWKHSULPDU\JRDORIPLWLJDWLQJH[SRVXUHWRLQWHUHVWUDWHPRYHPHQWVDQGSUHVHUYLQJWKHRYHUDOOIXQGHG
VWDWXVRIWKHXQGHUO\LQJSODQV3ODQDVVHWVDUHEURDGO\GLYHUVLILHGDQGDUHLQYHVWHGWRHQVXUHDGHTXDWHOLTXLGLW\IRULPPHGLDWH
DQGPHGLXPWHUPEHQHILWSD\PHQWV7KH&RPSDQ\¶VWDUJHWDVVHWDOORFDWLRQVLQFOXGHLQHTXLW\VHFXULWLHVLQ
IL[HGLQFRPHVHFXULWLHVDQGXSWRLQRWKHUVHFXULWLHV