← Filings of SWK
Tables in the 10-Q of STANLEY BLACK & DECKER, INC.
54 tables with numbers, filed Apr 28, 2022. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| PART I — FINANCIAL INFORMATION | 3 |
| ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | 3 |
| ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 36 |
| ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 46 |
| ITEM 4. CONTROLS AND PROCEDURES | 46 |
| PART II — OTHER INFORMATION | 49 |
| ITEM 1. LEGAL PROCEEDINGS | 49 |
| ITEM 1A. RISK FACTORS | 49 |
First 8 of 11 rows. The CSV has all of them.
Table 2 after “(Unaudited, Millions of Dollars, Except Per Share Amounts)”
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| Year-to-Date | | | |
| | 2022 | 2021 | |
| Net Sales | | $4,448.0 | | $3,720.8 |
| Costs and Expenses | | | | |
| Cost of sales | | $3,142.6 | | $2,333.0 |
| Selling, general and administrative | | 949.2 | | 716.9 |
| Provision for credit losses | | 11.1 | | 2.2 |
| Other, net | | 62.0 | | 48.0 |
First 8 of 38 rows. The CSV has all of them.
Table 3 after “(Unaudited, Millions of Dollars, Except Per Share Amounts)”
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| April 2, 2022 | January 1, 2022 | |
| ASSETS | | | |
| Current Assets | | | |
| Cash and cash equivalents | $165.8 | | $142.1 |
| Accounts and notes receivable, net | 1,842.0 | | 1,481.7 |
| Inventories, net | 6,267.7 | | 5,419.9 |
| Current assets held for sale | 864.0 | | 869.6 |
| Prepaid expenses | 495.3 | | 507.0 |
First 8 of 45 rows. The CSV has all of them.
Table 4 after “(Unaudited, Millions of Dollars)”
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| Year-to-Date | | | |
| | 2022 | 2021 | |
| OPERATING ACTIVITIES | | | | |
| Net earnings from continuing operations | | $155.6 | | $459.6 |
| Net earnings from discontinued operations | | 19.8 | | 27.2 |
| Adjustments to reconcile net earnings to cash used in operating activities: | | | | |
| Depreciation and amortization of property, plant and equipment | | 92.0 | | 93.5 |
| Amortization of intangibles | | 51.7 | | 50.5 |
First 8 of 37 rows. The CSV has all of them.
Table 5 after “The following table provides a reconciliation of the cash, cash equivalents and restricted cash balances as of April 2, 2022 and January 1, ”
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| April 2, 2022 | January 1, 2022 | |
| Cash and cash equivalents | $165.8 | | $142.1 |
| Restricted cash included in Other current assets | 3.9 | | 7.6 |
| Cash and cash equivalents included in Current assets held for sale | 150.8 | | 145.1 |
| Cash, cash equivalents and restricted cash | $320.5 | | $294.8 |
Table 6 after “(Unaudited, Millions of Dollars, Except Share and Per Share Amounts)”
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| Preferred Stock | Common Stock | | Additional Paid In Capital | Retained Earnings | Accumulated Other Comprehensive Loss | | Treasury Stock | Non- Controlling Interests | Shareowners’ Equity | | | |
| Balance January 1, 2022 | $620.3 | | $442.3 | | $4,999.2 | | $8,742.4 | | $(1,845.6) | | $(1,368.1) | $1.9 | $11,592.4 |
| Net earnings | — | | — | | — | | 175.3 | | — | | — | 0.1 | 175.4 |
| Other comprehensive loss | — | | — | | — | | — | | (27.7) | | — | — | (27.7) |
| Cash dividends declared — $0.79 per common share | — | | — | | — | | (116.3) | | — | | — | — | (116.3) |
| Issuance of common stock (338,897 shares) | — | | — | | (24.0) | | — | | — | | 37.7 | — | 13.7 |
| Repurchase of common stock (12,729,825 shares) | — | | — | | (300.0) | | — | | — | | (2,013.0) | — | (2,313.0) |
| Stock-based compensation related | — | | — | | 30.3 | | — | | — | | — | — | 30.3 |
First 8 of 9 rows. The CSV has all of them.
Table 7 after “(Unaudited, Millions of Dollars, Except Share and Per Share Amounts)”
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| Preferred Stock | Common Stock | | Additional Paid In Capital | Retained Earnings | Accumulated Other Comprehensive Loss | | Treasury Stock | Non- Controlling Interests | Shareowners’ Equity | | | |
| Balance January 2, 2021 | $1,370.3 | | $442.3 | | $4,967.8 | | $7,542.2 | | $(1,713.7) | | $(1,549.3) | $6.8 | $11,066.4 |
| Net earnings (loss) | — | | — | | — | | 487.4 | | — | | — | (0.6) | 486.8 |
| Other comprehensive loss | — | | — | | — | | — | | (97.7) | | — | — | (97.7) |
| Cash dividends declared — $0.70 per share | — | | — | | — | | (110.1) | | — | | — | — | (110.1) |
| Cash dividends declared - $50.00 per annum per preferred share | — | | — | | — | | (9.4) | | — | | — | — | (9.4) |
| Issuance of common stock (848,275 shares) | — | | — | | (12.7) | | — | | — | | 76.8 | — | 64.1 |
| Repurchase of common stock (80,310 shares) | — | | — | | — | | — | | — | | (14.9) | — | (14.9) |
First 8 of 11 rows. The CSV has all of them.
Table 8 after “The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate”
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| Year-to-Date | | | |
| | 2022 | 2021 | |
| Numerator (in millions): | | | | |
| Net Earnings from Continuing Operations Attributable to Common Shareowners | | $155.5 | | $450.8 |
| Add: Contract adjustment payments accretion | | 0.3 | | 0.2 |
| Net Earnings from Continuing Operations Attributable to Common Shareowners - Diluted | | $155.8 | | $451.0 |
| Net earnings from discontinued operations | | 19.8 | | 27.2 |
| Net Earnings Attributable to Common Shareowners - Diluted | | $175.6 | | $478.2 |
Table 9 after “The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate”
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| Year-to-Date | | | |
| | 2022 | 2021 | |
| Denominator (in thousands): | | | | |
| Basic weighted-average shares outstanding | | 155,433 | | 157,490 |
| Dilutive effect of stock contracts and awards | | 9,980 | | 6,859 |
| Diluted weighted-average shares outstanding | | 165,413 | | 164,349 |
Table 10 after “The following table reconciles net earnings attributable to common shareowners and the weighted-average shares outstanding used to calculate”
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| Earnings per share of common stock: | | |
| Basic earnings per share of common stock: | | |
| Continuing operations | $1.00 | $2.86 |
| Discontinued operations | $0.13 | $0.17 |
| Total basic earnings per share of common stock | $1.13 | $3.04 |
| Diluted earnings per share of common stock: | | |
| Continuing operations | $0.94 | $2.74 |
| Discontinued operations | $0.12 | $0.17 |
First 8 of 9 rows. The CSV has all of them.
Table 11 after “The following weighted-average stock options were not included in the computation of weighted-average diluted shares outstanding because the”
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| Year-to-Date | | | |
| | 2022 | 2021 | |
| Number of stock options | | 2,545 | | 1,096 |
Table 12 after “ACCOUNTS AND NOTES RECEIVABLE, NET”
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| (Millions of Dollars) | April 2, 2022 | January 1, 2022 | |
| Trade accounts receivable | $1,773.1 | | $1,398.2 |
| Trade notes receivable | 71.6 | | 75.3 |
| Other accounts receivable | 105.1 | | 104.1 |
| Gross accounts and notes receivable | $1,949.8 | | $1,577.6 |
| Allowance for credit losses | (107.8) | | (95.9) |
| Accounts and notes receivable, net | $1,842.0 | | $1,481.7 |
| (Millions of Dollars) | April 2, 2022 | April 3, 2021 | |
| Beginning Balance | $95.9 | | 106.2 |
| Charged To Costs and Expenses | 11.1 | 2.2 | |
| Other, including recoveries and deductions (a) | 0.8 | 0.9 | |
| Balance end of period | $107.8 | | 109.3 |
Table 14 after “The components of Inventories, net at April 2, 2022 and January 1, 2022 are as follows:”
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| (Millions of Dollars) | April 2, 2022 | January 1, 2022 | |
| Finished products | $4,022.8 | | $3,486.2 |
| Work in process | 428.9 | | 394.8 |
| Raw materials | 1,816.0 | | 1,538.9 |
| Total | $6,267.7 | | $5,419.9 |
Table 15 after “The following table summarizes the estimated acquisition date value of identifiable net assets acquired and liabilities assumed:”
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| (Millions of Dollars) | |
| Cash and cash equivalents | $111.6 |
| Accounts receivable, net | 276.4 |
| Inventories, net | 900.7 |
| Prepaid expenses and other assets | 97.7 |
| Property, plant and equipment | 222.8 |
| Trade names | 390.0 |
| Customer relationships | 450.0 |
First 8 of 18 rows. The CSV has all of them.
Table 16 after “The following table presents supplemental pro-forma information as if the 2021 acquisitions had occurred on December 29, 2019. The pro-forma”
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| (Millions of Dollars, except per share amounts) | First Quarter 2022 | First Quarter 2021 | |
| Net sales | $4,448.0 | | $4,594.8 |
| Net earnings from continuing operations attributable to common shareowners - Diluted | $242.9 | | $475.8 |
| Diluted earnings per share of common stock - Continuing operations | $1.47 | | $2.90 |
Table 17 after “Changes in the carrying amount of goodwill by segment are as follows:”
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| (Millions of Dollars) | Tools & Outdoor | Industrial | | Total | |
| Balance January 1, 2022 | $5,973.7 | | $2,617.0 | | $8,590.7 |
| Acquisitions | 40.1 | | — | | 40.1 |
| Foreign currency translation | (25.8) | | (8.0) | | (33.8) |
| Balance April 2, 2022 | $5,988.0 | | $2,609.0 | | $8,597.0 |
Table 18 after “Long-term debt and financing arrangements at April 2, 2022 and January 1, 2022 are as follows:”
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| | April 2, 2022 | | January 1, 2022 | | | | | | | | | |
| (Millions of Dollars) | Interest Rate | Original Notional | Unamortized Discount | Unamortized Gain/(Loss) Terminated Swaps 1 | Purchase Accounting FV Adjustment | Deferred Financing Fees | Carrying Value | | Carrying Value | | | | |
| Notes payable due 2025 | 2.30% | $500.0 | | $(0.7) | | $— | | $— | | $(1.2) | $498.1 | | $— |
| Notes payable due 2026 | 3.40% | 500.0 | | (0.4) | | — | | — | | (1.7) | 497.9 | | 497.8 |
| Notes payable due 2026 | 3.42% | 25.0 | | — | | — | | 1.6 | | — | 26.6 | | 24.9 |
| Notes payable due 2026 | 1.84% | 28.5 | | — | | — | | 0.8 | | (0.1) | 29.2 | | 28.4 |
| Notes payable due 2028 | 7.05% | 150.0 | | — | | 6.8 | | 6.6 | | — | 163.4 | | 163.9 |
| Notes payable due 2028 | 4.25% | 500.0 | | (0.3) | | — | | — | | (2.9) | 496.8 | | 496.8 |
First 8 of 19 rows. The CSV has all of them.
Table 19 after “A summary of the fair values of the Company’s derivatives recorded in the Condensed Consolidated Balance Sheets at April 2, 2022 and January”
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| (Millions of Dollars) | Balance Sheet Classification | April 2, 2022 | January 1, 2022 | | Balance Sheet Classification | April 2, 2022 | January 1, 2022 | |
| Derivatives designated as hedging instruments: | | | | | | | | |
| Interest Rate Contracts Cash Flow | Other current assets | $— | | $1.2 | | Accrued expenses | $— | $1.9 |
| Foreign Exchange Contracts Cash Flow | Other current assets | 17.1 | | 18.3 | | Accrued expenses | 1.0 | 0.8 |
| Net Investment Hedge | Other current assets | 2.9 | | 2.5 | | Accrued expenses | — | — |
| LT other assets | — | | 3.3 | | LT other liabilities | — | — |
| Total designated as hedging | | $20.0 | | $25.3 | | | $1.0 | $2.7 |
| Derivatives not designated as hedging instruments: | | | | | | | | |
First 8 of 10 rows. The CSV has all of them.
Table 20 after “The tables below detail pre-tax amounts of derivatives designated as cash flow hedges in Accumulated other comprehensive loss during the per”
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| Year-to-Date 2022 | | | | | | |
| (Millions of Dollars) | Gain (Loss) Recorded in OCI | Classification of Gain (Loss) Reclassified from OCI to Income | | Gain (Loss) Reclassified from OCI to Income | | Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing | |
| Interest Rate Contracts | $23.4 | | Interest expense | | $(1.2) | | $— |
| Foreign Exchange Contracts | $6.5 | | Cost of sales | | $6.1 | | $— |
Table 21 after “The tables below detail pre-tax amounts of derivatives designated as cash flow hedges in Accumulated other comprehensive loss during the per”
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| Year-to-Date 2021 | | | | | | |
| (Millions of Dollars) | Gain (Loss) Recorded in OCI | Classification of Gain (Loss) Reclassified from OCI to Income | | Gain (Loss) Reclassified from OCI to Income | | Gain (Loss) Recognized in Income on Amounts Excluded from Effectiveness Testing | |
| Interest Rate Contracts | $52.4 | | Interest expense | | $(1.1) | | $— |
| Foreign Exchange Contracts | $4.3 | | Cost of sales | | $(3.8) | | $— |
Table 22 after “A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations and Comprehensive Income (Loss) f”
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| Year-to-Date 2022 | | | |
| (Millions of Dollars) | | Cost of Sales | Interest Expense | |
| Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the cash flow hedges are recorded | | $3,142.6 | | $54.7 |
| Gain (loss) on cash flow hedging relationships: | | | | |
| Foreign Exchange Contracts: | | | | |
| Hedged Items | | $(6.1) | | $— |
| Gain (loss) reclassified from OCI into Income | | $6.1 | | $— |
| Interest Rate Swap Agreements: | | | | |
First 8 of 9 rows. The CSV has all of them.
Table 23 after “A summary of the pre-tax effect of cash flow hedge accounting on the Consolidated Statements of Operations and Comprehensive Income (Loss) f”
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| Year-to-Date 2021 | | | |
| (Millions of Dollars) | | Cost of Sales | Interest Expense | |
| Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the cash flow hedges are recorded | | $2,333.0 | | $47.5 |
| Gain (loss) on cash flow hedging relationships: | | | | |
| Foreign Exchange Contracts: | | | | |
| Hedged Items | | $3.8 | | $— |
| Gain (loss) reclassified from OCI into Income | | $(3.8) | | $— |
| Interest Rate Swap Agreements: | | | | |
First 8 of 9 rows. The CSV has all of them.
Table 24 after “A summary of the pre-tax effect of fair value hedge accounting on the Consolidated Statements of Operations and Comprehensive Income (Loss) ”
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| (Millions of Dollars) | Year-to-Date 2022 Interest Expense | Year-to-Date 2021 Interest Expense | |
| Total amount in the Consolidated Statements of Operations and Comprehensive Income (Loss) in which the effects of the fair value hedges are recorded | $54.7 | | $47.5 |
| Amortization of gain on terminated swaps | $(0.1) | | $(0.1) |
Table 25 after “A summary of the amounts recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges”
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| April 2, 2022 | | | |
| (Millions of Dollars) | Carrying Amount of Hedged Liability (1) | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability | | |
| Current Maturities of Long-Term Debt | $— | | Terminated Swaps | $— |
| Long-Term Debt | $533.5 | | Terminated Swaps | $(20.4) |
Table 26 after “A summary of the amounts recorded in the Condensed Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges”
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| January 1, 2022 | | | |
| (Millions of Dollars) | Carrying Amount of Hedged Liability (1) | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liability | | |
| Current Maturities of Long-Term Debt | $— | | Terminated Swaps | $— |
| Long-Term Debt | $533.6 | | Terminated Swaps | $(20.4) |
Table 27 after “The pre-tax gain or loss from fair value changes for the three months ended April 2, 2022 and April 3, 2021 was as follows:”
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| Year-to-Date 2022 | | | | | | |
| (Millions of Dollars) | Total Gain (Loss) Recorded in OCI | Excluded Component Recorded in OCI | | Income Statement Classification | Total Gain (Loss) Reclassified from OCI to Income | Excluded Component Amortized from OCI to Income | |
| Forward Contracts | $2.8 | | $0.6 | | Other, net | $0.5 | $0.5 |
| Cross Currency Swap | $(0.8) | | $2.5 | | Other, net | $1.5 | $1.5 |
| Non-derivative designated as Net Investment Hedge | $(0.1) | | $— | | Other, net | $— | $— |
Table 28 after “The pre-tax gain or loss from fair value changes for the three months ended April 2, 2022 and April 3, 2021 was as follows:”
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| Year-to-Date 2021 | | | | | | |
| (Millions of Dollars) | Total Gain (Loss) Recorded in OCI | Excluded Component Recorded in OCI | | Income Statement Classification | Total Gain (Loss) Reclassified from OCI to Income | Excluded Component Amortized from OCI to Income | |
| Forward Contracts | $(0.4) | | $0.8 | | Other, net | $— | $— |
| Cross Currency Swap | $8.1 | | $7.4 | | Other, net | $1.3 | $1.3 |
| Non-derivative designated as Net Investment Hedge | $— | | $— | | Other, net | $— | $— |
Table 29 after “The gain (loss) recorded in income from changes in the fair value related to derivatives not designated as hedging instruments under ASC 815”
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| (Millions of Dollars) | Income Statement Classification | Year-to-Date 2022 | Year-to-Date 2021 | |
| Foreign Exchange Contracts | Other, net | $0.9 | | $(16.1) |
Table 30 after “The following tables summarize the changes in the balances for each component of Accumulated other comprehensive loss:”
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| (Millions of Dollars) | Currency translation adjustment and other | Unrealized (losses) gains on cash flow hedges, net of tax | | Unrealized gains (losses) on net investment hedges, net of tax | Pension (losses) gains, net of tax | Total | | |
| Balance - January 1, 2022 | $(1,543.0) | | $(49.8) | | $71.8 | | $(324.6) | $(1,845.6) |
| Other comprehensive (loss) income before reclassifications | (55.8) | | 21.5 | | (1.6) | | 6.6 | (29.3) |
| Reclassification adjustments to earnings | — | | (2.5) | | 1.5 | | 2.6 | 1.6 |
| Net other comprehensive (loss) income | (55.8) | | 19.0 | | (0.1) | | 9.2 | (27.7) |
| Balance - April 2, 2022 | $(1,598.8) | | $(30.8) | | $71.7 | | $(315.4) | $(1,873.3) |
Table 31 after “The following tables summarize the changes in the balances for each component of Accumulated other comprehensive loss:”
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| (Millions of Dollars) | Currency translation adjustment and other | Unrealized (losses) gains on cash flow hedges, net of tax | | Unrealized gains (losses) on net investment hedges, net of tax | Pension (losses) gains, net of tax | Total | | |
| Balance - January 2, 2021 | $(1,235.3) | | $(103.0) | | $72.8 | | $(448.2) | $(1,713.7) |
| Other comprehensive (loss) income before reclassifications | (154.2) | | 43.8 | | 5.9 | | 0.5 | (104.0) |
| Reclassification adjustments to earnings | — | | 2.9 | | (1.0) | | 4.4 | 6.3 |
| Net other comprehensive (loss) income | (154.2) | | 46.7 | | 4.9 | | 4.9 | (97.7) |
| Balance -April 3, 2021 | $(1,389.5) | | $(56.3) | | $77.7 | | $(443.3) | $(1,811.4) |
| (Millions of Dollars) | 2022 | 2021 | | Affected line item in Consolidated Statements of Operations And Comprehensive Income (Loss) | |
| Realized gains (losses) on cash flow hedges | $6.1 | | $(3.8) | | Cost of sales |
| Realized losses on cash flow hedges | (1.2) | | (1.1) | | Interest expense |
| Total before taxes | $4.9 | | $(4.9) | | |
| Tax effect | (2.4) | | 2.0 | | Income taxes |
| Realized gains (losses) on cash flow hedges, net of tax | $2.5 | | $(2.9) | | |
| Realized (losses) gains on net investment hedges | $(2.0) | | $1.3 | | Other, net |
| Tax effect | 0.5 | | (0.3) | | Income taxes |
First 8 of 15 rows. The CSV has all of them.
Table 33 after “Following are the components of net periodic pension (benefit) expense for the three months ended April 2, 2022 and April 3, 2021:”
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| Year-to-Date | | | | | | | | | |
| Pension Benefits | Other Benefits | | | | | | | | |
| U.S. Plans | Non-U.S. Plans | | All Plans | | | | | | |
| (Millions of Dollars) | 2022 | 2021 | | 2022 | 2021 | 2022 | | 2021 | | |
| Service cost | $1.6 | | $1.3 | | $3.9 | | $4.2 | | $0.1 | $0.1 |
| Interest cost | 8.0 | | 5.7 | | 6.0 | | 4.2 | | 0.2 | 0.2 |
| Expected return on plan assets | (15.1) | | (13.7) | | (10.2) | | (9.9) | | — | — |
| Amortization of prior service cost (credit) | 0.2 | | 0.3 | | (0.2) | | (0.2) | | — | (0.2) |
First 8 of 11 rows. The CSV has all of them.
Table 34 after “The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis for each of”
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| (Millions of Dollars) | Total Carrying Value | Level 1 | | Level 2 | Level 3 | | |
| April 2, 2022 | | | | | | | |
| Money market fund | $12.7 | | $12.7 | | $— | | $— |
| Equity Security | $7.7 | | $7.7 | | | $— | |
| Deferred compensation plan investments | $23.7 | | $23.7 | | $— | | $— |
| Derivative assets | $29.9 | | $— | | $29.9 | | $— |
| Derivative liabilities | $11.8 | | $— | | $11.8 | | $— |
| Contingent consideration liability | $289.3 | | $— | | $— | | $289.3 |
First 8 of 15 rows. The CSV has all of them.
Table 35 after “The following table provides information about the Company's financial assets and liabilities not carried at fair value:”
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| April 2, 2022 | January 1, 2022 | | | | |
| (Millions of Dollars) | Carrying Value | Fair Value | | Carrying Value | Fair Value | |
| Other investments | $9.3 | | $9.5 | | $11.2 | $11.6 |
| Long-term debt | $5,356.7 | | $5,401.5 | | $4,354.9 | $4,850.2 |
Table 36 after “A summary of the restructuring reserve activity from January 1, 2022 to April 2, 2022 is as follows:”
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| (Millions of Dollars) | January 1, 2022 | Net Additions | | Usage | Currency | April 2, 2022 | | |
| Severance and related costs | $28.2 | | $51.1 | | $(22.8) | | $0.6 | $57.1 |
| Facility closures and asset impairments | 3.5 | | 1.6 | | (2.5) | | 0.1 | 2.7 |
| Total | $31.7 | | $52.7 | | $(25.3) | | $0.7 | $59.8 |
Table 37 after “The Company utilizes segment profit, which is defined as net sales minus cost of sales and SG&A inclusive of the provision for credit losses”
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| Year-to-Date | | | |
| (Millions of Dollars) | | 2022 | 2021 | |
| Net Sales | | | | |
| Tools & Outdoor | | $3,801.2 | | $3,062.9 |
| Industrial | | 646.6 | | 657.7 |
| Other | | 0.2 | | 0.2 |
| Consolidated | | $4,448.0 | | $3,720.8 |
| Segment Profit | | | | |
First 8 of 18 rows. The CSV has all of them.
Table 38 after “The following table is a further disaggregation of the Industrial segment revenue for the three months ended April 2, 2022 and April 3, 2021”
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| Year-to-Date | | | |
| (Millions of Dollars) | | 2022 | 2021 | |
| Engineered Fastening | | $480.1 | | $496.8 |
| Infrastructure | | 166.5 | | 160.9 |
| Industrial | | $646.6 | | $657.7 |
Table 39 after “The following table is a summary of total assets by segment as of April 2, 2022 and January 1, 2022:”
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| (Millions of Dollars) | April 2, 2022 | January 1, 2022 | |
| Tools & Outdoor | $20,522.5 | | $19,537.9 |
| Industrial | 5,639.0 | | 5,627.8 |
| 26,161.5 | | 25,165.7 |
| Assets held for sale | 3,492.5 | | 3,505.4 |
| Corporate assets | (295.3) | | (491.1) |
| Consolidated | $29,358.7 | | $28,180.0 |
Table 40 after “The following table is a summary of net sales by geographic area for the three months ended April 2, 2022 and April 3, 2021:”
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| Year-to-Date | | | |
| (Millions of Dollars) | | 2022 | 2021 | |
| United States | | $2,744.5 | | $2,132.0 |
| Canada | | 236.6 | | 186.3 |
| Other Americas | | 198.3 | | 197.1 |
| France | | 140.0 | | 135.1 |
| Other Europe | | 773.5 | | 738.1 |
| Asia | | 355.1 | | 332.2 |
First 8 of 9 rows. The CSV has all of them.
Table 41 after “The following is a summary of the Company's right-of-use-assets and lease liabilities:”
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| (Millions of Dollars) | April 2, 2022 | January 1, 2022 |
| Right-of-use assets | $420.1 | $426.0 |
| Lease liabilities | $430.5 | $439.1 |
| Weighted-average incremental borrowing rate | 3.4% | 3.5% |
| Weighted-average remaining term | 6 years | 6 years |
Table 42 after “The Company’s financial guarantees at April 2, 2022 are as follows:”
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| (Millions of Dollars) | Term | Maximum Potential Payment | Carrying Amount of Liability | |
| Guarantees on the residual values of leased assets | One to five years | $89.6 | | $— |
| Standby letters of credit | Up to three years | 165.7 | | — |
| Commercial customer financing arrangements | Up to six years | 69.5 | | 8.7 |
| Total | | $324.8 | | $8.7 |
Table 43 after “The changes in the carrying amount of product warranties for the three months ended April 2, 2022 and April 3, 2021 are as follows:”
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| (Millions of Dollars) | 2022 | 2021 | |
| Balance beginning of period | $134.5 | | $107.9 |
| Warranties and guarantees issued | 39.6 | | 36.3 |
| Warranty payments and currency | (38.0) | | (41.3) |
| Balance end of period | $136.1 | | $102.9 |
| Year-to-Date | | |
| (Millions of Dollars) | 2022 | 2021 | |
| Net Sales | $488.3 | | $476.3 |
| Cost of sales | 312.6 | | 299.8 |
| Selling, general, and administrative(1) | 138.2 | | 133.7 |
| Other, net and restructuring charges | 15.3 | | 11.7 |
| Earnings from discontinued operations before income taxes | $22.2 | | $31.1 |
| Income taxes on discontinued operations | 2.4 | | 3.9 |
First 8 of 9 rows. The CSV has all of them.
Table 45 after “The following table presents the significant non-cash items and capital expenditures for the discontinued operations with respect to MAS and”
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| Year-to-Date | | |
| (Millions of Dollars) | 2022 | 2021 | |
| Depreciation and amortization | $1.3 | | $16.6 |
| Capital expenditures | $4.0 | | $4.9 |
| Stock-based compensation | $9.3 | | $2.0 |
Table 46 after “The carrying amounts of the assets and liabilities that were aggregated in assets held for sale and liabilities held for sale as of April 2,”
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| (Millions of Dollars) | April 2, 2022 | January 1, 2022 | |
| Cash and cash equivalents | $150.8 | | $145.1 |
| Accounts and notes receivable, net | 495.7 | | 513.9 |
| Inventories, net | 170.5 | | 169.4 |
| Other current assets | 47.0 | | 41.2 |
| Property, plant and equipment, net | 90.9 | | 84.3 |
| Goodwill and other intangibles, net | 2,250.6 | | 2,270.2 |
| Other assets | 287.0 | | 281.3 |
First 8 of 12 rows. The CSV has all of them.
| | GAAP | Acquisition-Related Charges & Other | | Non-GAAP | |
| Gross profit | $1,305.4 | | $88.8 | | $1,394.2 |
| Selling, general and administrative1 | 960.3 | | (78.9) | | 881.4 |
| Operating profit | 345.1 | | 167.7 | | 512.8 |
| Earnings from continuing operations before income taxes and equity interest | 178.5 | | 221.4 | | 399.9 |
| Income taxes on continuing operations | 22.9 | | 29.8 | | 52.7 |
| Net Earnings from Continuing Operations Attributable to Common Shareowners - Diluted | 155.8 | | 191.6 | | 347.4 |
| Diluted earnings per share of common stock - Continuing operations | $0.94 | | $1.16 | | $2.10 |
First 8 of 9 rows. The CSV has all of them.
| | GAAP | Acquisition-Related Charges & Other | | Non-GAAP | |
| Gross profit | $1,387.8 | | $4.4 | | $1,392.2 |
| Selling, general and administrative1 | 719.1 | | (15.0) | | 704.1 |
| Operating profit | 668.7 | | 19.4 | | 688.1 |
| Earnings from continuing operations before income taxes and equity interest | 573.3 | | 23.8 | | 597.1 |
| Income taxes on continuing operations | 115.5 | | 6.0 | | 121.5 |
| Share of net earnings of equity method investment | 1.8 | | 0.2 | | 2.0 |
| Net Earnings from Continuing Operations Attributable to Common Shareowners - Diluted | 451.0 | | 18.0 | | 469.0 |
First 8 of 10 rows. The CSV has all of them.
| Year-to-Date | | | |
| (Millions of Dollars) | | 2022 | 2021 | |
| Net sales | | $3,801.2 | | $3,062.9 |
| Segment profit | | $378.5 | | $644.7 |
| % of Net sales | | 10.0% | | 21.0% |
| Year-to-Date | | | |
| (Millions of Dollars) | | 2022 | 2021 | |
| Net sales | | $646.6 | | $657.7 |
| Segment profit | | $41.3 | | $99.8 |
| % of Net sales | | 6.4% | | 15.2% |
Table 51 after “A summary of the restructuring reserve activity from January 1, 2022 to April 2, 2022 is as follows:”
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| (Millions of Dollars) | January 1, 2022 | Net Additions | | Usage | Currency | April 2, 2022 | | |
| Severance and related costs | $28.2 | | $51.1 | | $(22.8) | | $0.6 | $57.1 |
| Facility closures and asset impairments | 3.5 | | 1.6 | | (2.5) | | 0.1 | 2.7 |
| Total | $31.7 | | $52.7 | | $(25.3) | | $0.7 | $59.8 |
Table 52 after “Free cash flow, as defined in the table below, was an outflow of $1.381 billion in the first quarter of 2022 compared to $246.1 million in t”
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| Year-to-Date | | | |
| (Millions of Dollars) | | 2022 | 2021 | |
| Net cash used in operating activities | | $(1,241.1) | | $(157.8) |
| Less: capital and software expenditures | | (139.8) | | (88.3) |
| Free cash flow | | $(1,380.9) | | $(246.1) |
Table 53 after “The following table provides information about the Company’s purchases of equity securities that are registered by the Company pursuant to S”
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| 2022 | Total Number Of Shares Purchased (a) | Average Price Paid Per Share | | Total Number Of Shares Purchased As Part Of A Publicly Announced Plan Or Program | (In Millions)Maximum NumberOf Shares ThatMay Yet BePurchased UnderThe Program(b) | |
| January 2 - February 5 | — | | $— | | — | 20 |
| February 6 - March 5 | 12,681,866 | | 154.82 | | 10,756,770 | 7 |
| March 6 - April 2 | 47,851 | | 145.10 | | — | 7 |
| Total | 12,729,717 | | $154.79 | | 10,756,770 | 7 |
| (4.1) | Tenth Supplemental Indenture, dated as of February 24, 2022, between Stanley Black & Decker, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee, relating to the 2.300% Notes due 2025 and the 3.000% Notes due 2032 (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on February 24, 2022). |
| (4.2) | Form of Stanley Black & Decker, Inc.’s 2.300% Notes due 2025 (incorporated by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on February 24, 2022). |
| (4.3) | Form of Stanley Black & Decker, Inc.’s 3.000% Notes due 2032 (incorporated by reference to Exhibit 4.4 to the Company’s Current Report on Form 8-K filed on February 24, 2022). |
| (10.1) | 364-Day Credit Agreement, made as of January 26, 2022 among Stanley Black & Decker, Inc., the initial lenders named therein and Citibank, N.A. as administrative agent for the lenders (incorporated by reference to Exhibit 10.1 on the Company’s Current Report on Form 8-K filed on January 28, 2022). |
| (10.2) | Underwriting Agreement, dated as of February 22, 2022, between Stanley Black & Decker, Inc. and BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC. (incorporated by reference to Exhibit 1.1 to the Company’s Current Report on Form 8-K filed on February 24, 2022). |
| (11) | Statement re-computation of per share earnings (the information required to be presented in this exhibit appears in Note C to the Company’s (Unaudited) Condensed Consolidated Financial Statements set forth in this Quarterly Report on Form 10-Q). |
| (31)(i)(a) | Certification by Chief Executive Officer pursuant to Rule 13a-14(a). |
| (i)(b) | Certification by President and Chief Financial Officer pursuant to Rule 13a-14(a). |
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