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08 STANLEY BLACK & DECKER  ANNUAL REPORT
MILLIONS OF DOLLARS 2015 2014 2013 2012 2011
Net earnings from continuing operations $  $  $  $  $ 
Interest income     
Interest expense     
Income taxes    
Depreciation and amortization     
EBITDA from continuing operations $ , $ , $ , $ , $ ,
Free Cash Flow(c)
$ MILLIONS
Cash Flow Return on
Investment(f)
(a) “ EBITDA” (earnings before interest, taxes, depreciation, and amortization) is a non-GAAP measurement.
Management believes it is important for the ability to determine the earnings power of the Company.
(b), (c), (d), (e) and (f) refer to the inside back cover.
EBITDA
(Continuing Operations)(a)
$ MILLIONS
15
$871
14
$1,005
13
$528
12
$593
11
$706
2015
SCORECARD
Working Capital Turns(d)
9.2
15
9.2
8.1
7.8
7.3
14131211
12.9%
14
.%

.%

.%

.%
15


20
(%)
30
12 13 14 15
-1%
26%
7%
9%
4%
Total Sales Growth
LONGTERM OBJECTIVE: +%

2
%
   15
6%
%
%
%
%
Organic Sales Growth
LONGTERM OBJECTIVE: +%
$1,691
$1,170
$1,068
$1,145
15
$1,732
141311 12
Average Capital Employed(e)
$ BILLIONS
$10.0
15
$10.7
$10.5
$10.4
$10.7
14131211
EPS
(Continuing Operations)(b)
15
$5.92
 
$5.37
$4.98
$4.72
$3.28
$2.75
12 13
$3.60 $4.65