falsedesktopSWK2020-09-26000009355620000033{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large Accelerated Filer\tþ\tAccelerated Filer\t¨\nNon-Accelerated Filer\t¨\tSmaller Reporting Company\t☐\n\t\tEmerging Growth Company\t☐\nIf an emerging growth company indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act. ¨\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_1": "PART I - FINANCIAL INFORMATION\t3\nITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS\t3\nITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS\t41\nITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK\t53\nITEM 4. CONTROLS AND PROCEDURES\t53\nPART II - OTHER INFORMATION\t55\nITEM 1. LEGAL PROCEEDINGS\t55\nITEM 1A. RISK FACTORS\t55\nITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS\t56\nITEM 6. EXHIBITS\t57\nSIGNATURE\t58\n", "q10k_tbl_2": "\tThird Quarter\t\t\tYear-to-Date\n\t2020\t2019\t2020\t2019\nNet Sales\t3850.2\t3633.1\t10127.0\t10728.0\nCosts and Expenses\t\t\t\t\nCost of sales\t2473.9\t2393.6\t6714.9\t7083.1\nSelling general and administrative\t731.3\t752.8\t2182.1\t2289.6\nProvision for credit losses\t7.6\t3.3\t37.3\t27.7\nOther net\t74.3\t55.0\t236.1\t182.6\nGain on sale of business\t0\t0\t0\t(17.2)\nRestructuring charges\t42.8\t74.0\t74.6\t91.2\nInterest expense\t52.7\t72.4\t169.7\t219.2\nInterest income\t(2.0)\t(12.7)\t(14.6)\t(41.4)\n\t3380.6\t3338.4\t9400.1\t9834.8\nEarnings before income taxes and equity interest\t469.6\t294.7\t726.9\t893.2\nIncome tax expense (benefit)\t78.4\t59.2\t(26.0)\t135.5\nNet earnings before equity interest\t391.2\t235.5\t752.9\t757.7\nShare of net earnings (losses) of equity method investment\t4.0\t(4.4)\t14.1\t1.2\nNet earnings\t395.2\t231.1\t767.0\t758.9\nLess: Net earnings attributable to non-controlling interests\t0.3\t0.6\t0.5\t2.2\nNet earnings attributable to Stanley Black & Decker Inc.\t394.9\t230.5\t766.5\t756.7\nLess: Preferred stock dividends\t9.4\t0\t14.1\t0\nNet Earnings Attributable to Common Shareowners\t385.5\t230.5\t752.4\t756.7\nTotal Comprehensive Income Attributable to Common Shareowners\t465.0\t99.6\t675.9\t626.1\nEarnings per share of common stock:\t\t\t\t\nBasic\t2.47\t1.55\t4.91\t5.11\nDiluted\t2.44\t1.53\t4.86\t5.03\nDividends per share of common stock\t0.70\t0.69\t2.08\t2.01\nWeighted-average shares outstanding (in thousands):\t\t\t\t\nBasic\t156370\t148350\t153345\t148111\nDiluted\t157971\t150623\t154759\t150299\n", "q10k_tbl_3": "\tSeptember 26 2020\tDecember 28 2019\nASSETS\t\t\nCurrent Assets\t\t\nCash and cash equivalents\t683.0\t297.7\nAccounts and notes receivable net\t1764.2\t1454.6\nInventories net\t2874.7\t2255.0\nOther current assets\t465.1\t449.3\nTotal Current Assets\t5787.0\t4456.6\nProperty plant and equipment net\t2005.9\t1959.5\nGoodwill\t9887.0\t9237.5\nIntangibles net\t4069.0\t3622.0\nOther assets\t1292.0\t1321.0\nTotal Assets\t23040.9\t20596.6\nLIABILITIES AND SHAREOWNERS' EQUITY\t\t\nCurrent Liabilities\t\t\nShort-term borrowings\t3.2\t337.3\nCurrent maturities of long-term debt\t3.1\t3.1\nAccounts payable\t2345.3\t2087.8\nAccrued expenses\t1870.2\t1977.5\nTotal Current Liabilities\t4221.8\t4405.7\nLong-term debt\t4658.5\t3176.4\nDeferred taxes\t590.1\t731.2\nPost-retirement benefits\t592.8\t609.4\nOther liabilities\t2598.4\t2531.7\nCommitments and Contingencies (Notes R and S)\t\t\nShareowners' Equity\t\t\nStanley Black & Decker Inc. Shareowners' Equity\t\t\nPreferred stock without par value: Authorized 10000000 shares in 2020 and 2019 Issued and outstanding 1500000 shares in 2020 and 2019\t1500.0\t1500.0\nCommon stock par value $2.50 per share: Authorized 300000000 shares in 2020 and 2019 Issued 176902738 shares in 2020 and 2019\t442.3\t442.3\nRetained earnings\t7200.4\t6772.8\nAdditional paid in capital\t4785.3\t4492.9\nAccumulated other comprehensive loss\t(1961.1)\t(1884.6)\nESOP\t0\t(2.3)\n\t11966.9\t11321.1\nLess: cost of common stock in treasury\t(1594.0)\t(2184.8)\nStanley Black & Decker Inc. Shareowners' Equity\t10372.9\t9136.3\nNon-controlling interests\t6.4\t5.9\nTotal Shareowners' Equity\t10379.3\t9142.2\nTotal Liabilities and Shareowners' Equity\t23040.9\t20596.6\n", "q10k_tbl_4": "\tThird Quarter\t\t\tYear-to-Date\n\t2020\t2019\t2020\t2019\nOPERATING ACTIVITIES\t\t\t\t\nNet earnings\t395.2\t231.1\t767.0\t758.9\nAdjustments to reconcile net earnings to cash provided by operating activities:\t\t\t\t\nDepreciation and amortization of property plant and equipment\t94.1\t93.1\t281.1\t280.8\nAmortization of intangibles\t51.2\t47.8\t150.0\t139.6\nGain on sale of business\t0\t0\t0\t(17.2)\nShare of net (earnings) losses of equity method investment\t(4.0)\t4.4\t(14.1)\t(1.2)\nChanges in working capital\t51.6\t(278.3)\t(667.5)\t(859.2)\nChanges in other assets and liabilities\t89.1\t94.6\t83.7\t(39.3)\nCash provided by operating activities\t677.2\t192.7\t600.2\t262.4\nINVESTING ACTIVITIES\t\t\t\t\nCapital and software expenditures\t(62.1)\t(96.7)\t(209.5)\t(283.5)\nProceeds from sale of business net of cash sold\t0\t0\t0\t76.7\nBusiness acquisitions net of cash acquired\t1.4\t(6.2)\t(1300.6)\t(682.2)\nPurchases of investments\t(1.0)\t(4.9)\t(14.6)\t(258.6)\nNet investment hedge settlements\t0\t11.3\t41.0\t15.2\nOther\t(2.1)\t(3.9)\t(0.6)\t(7.5)\nCash used in investing activities\t(63.8)\t(100.4)\t(1484.3)\t(1139.9)\nFINANCING ACTIVITIES\t\t\t\t\nPayment on long-term debt\t0\t0\t0\t(400.0)\nProceeds from debt issuances net of fees\t0\t0\t1482.6\t496.2\nStock purchase contract fees\t(9.8)\t(10.1)\t(49.9)\t(30.3)\nNet short-term (repayments) borrowings\t(712.9)\t28.6\t(341.8)\t1117.9\nProceeds from issuances of common stock\t42.5\t21.5\t843.8\t46.1\nPurchases of common stock for treasury\t(1.9)\t(2.7)\t(11.2)\t(11.9)\nCraftsman deferred purchase price\t0\t0\t(250.0)\t0\nCraftsman contingent consideration\t(6.0)\t0\t(39.0)\t0\nTermination of interest rate swaps\t0\t0\t(20.5)\t(1.0)\nCash dividends on common stock\t(109.6)\t(102.3)\t(321.0)\t(297.6)\nCash dividends on preferred stock\t(9.4)\t0\t(9.4)\t0\nOther\t(3.1)\t(2.4)\t(10.1)\t(8.5)\nCash (used in) provided by financing activities\t(810.2)\t(67.4)\t1273.5\t910.9\nEffect of exchange rate changes on cash cash equivalents and restricted cash\t16.3\t(25.4)\t(7.9)\t(20.4)\nChange in cash cash equivalents and restricted cash\t(180.5)\t(0.5)\t381.5\t13.0\nCash cash equivalents and restricted cash beginning of period\t876.6\t324.9\t314.6\t311.4\nCASH CASH EQUIVALENTS AND RESTRICTED CASH END OF PERIOD\t696.1\t324.4\t696.1\t324.4\n", "q10k_tbl_5": "\tSeptember 26 2020\tDecember 28 2019\nCash and cash equivalents\t683.0\t297.7\nRestricted cash included in Other current assets\t13.1\t16.9\nCash cash equivalents and restricted cash\t696.1\t314.6\n", "q10k_tbl_6": "\tPreferred Stock\tCommon Stock\tAdditional Paid In Capital\tRetained Earnings\tAccumulated Other Comprehensive Loss\tESOP\tTreasury Stock\tNon- Controlling Interests\tShareowners' Equity\nBalance December 28 2019\t1500.0\t442.3\t4492.9\t6772.8\t(1884.6)\t(2.3)\t(2184.8)\t5.9\t9142.2\nNet earnings (loss)\t0\t0\t0\t133.2\t0\t0\t0\t(0.1)\t133.1\nOther comprehensive loss\t0\t0\t0\t0\t(258.8)\t0\t0\t0\t(258.8)\nCash dividends declared - $0.69 per share\t0\t0\t0\t(105.6)\t0\t0\t0\t0\t(105.6)\nIssuance of common stock (744339 shares)\t0\t0\t(20.5)\t0\t0\t0\t65.1\t0\t44.6\nRepurchase of common stock (125294 shares)\t0\t0\t10.0\t0\t0\t0\t(19.0)\t0\t(9.0)\nPreferred stock issuance costs\t0\t0\t(1.2)\t0\t0\t0\t0\t0\t(1.2)\nStock-based compensation related\t0\t0\t15.4\t0\t0\t0\t0\t0\t15.4\nESOP\t0\t0\t0\t0\t0\t2.3\t0\t0\t2.3\nAdoption of ASU 2016-13\t0\t0\t0\t(3.8)\t0\t0\t0\t0\t(3.8)\nBalance March 28 2020\t1500.0\t442.3\t4496.6\t6796.6\t(2143.4)\t0\t(2138.7)\t5.8\t8959.2\nNet earnings\t0\t0\t0\t238.4\t0\t0\t0\t0.3\t238.7\nOther comprehensive income\t0\t0\t0\t0\t102.8\t0\t0\t0\t102.8\nCash dividends declared - $0.69 per common share\t0\t0\t0\t(105.8)\t0\t0\t0\t0\t(105.8)\nCash dividends declared - $50.00 per annum per preferred share\t0\t0\t0\t(4.7)\t0\t0\t0\t0\t(4.7)\nIssuance of common stock (5538106 shares)\t0\t0\t257.6\t0\t0\t0\t499.1\t0\t756.7\nRepurchase of common stock (4227 shares)\t0\t0\t0\t0\t0\t0\t(0.3)\t0\t(0.3)\nPreferred stock issuance costs\t0\t0\t(2.2)\t0\t0\t0\t0\t0\t(2.2)\nStock-based compensation related\t0\t0\t21.2\t0\t0\t0\t0\t0\t21.2\nBalance June 27 2020\t1500.0\t442.3\t4773.2\t6924.5\t(2040.6)\t0\t(1639.9)\t6.1\t9965.6\nNet earnings\t0\t0\t0\t394.9\t0\t0\t0\t0.3\t395.2\nOther comprehensive income\t0\t0\t0\t0\t79.5\t0\t0\t0\t79.5\nCash dividends declared - $0.70 per share\t0\t0\t0\t(109.6)\t0\t0\t0\t0\t(109.6)\nCash dividends declared -$50.00 per annum per preferred share\t0\t0\t0\t(9.4)\t0\t0\t0\t0\t(9.4)\nIssuance of common stock (529998 shares)\t0\t0\t(5.3)\t0\t0\t0\t47.8\t0\t42.5\nRepurchase of common stock (15403 shares)\t0\t0\t0\t0\t0\t0\t(1.9)\t0\t(1.9)\nPreferred stock issuance costs\t0\t0\t(0.5)\t0\t0\t0\t0\t0\t(0.5)\nStock-based compensation related\t0\t0\t17.9\t0\t0\t0\t0\t0\t17.9\nBalance September 26 2020\t1500.0\t442.3\t4785.3\t7200.4\t(1961.1)\t0\t(1594.0)\t6.4\t10379.3\n", "q10k_tbl_7": "\tPreferred Stock\tCommon Stock\tAdditional Paid In Capital\tRetained Earnings\tAccumulated Other Comprehensive Loss\tESOP\tTreasury Stock\tNon- Controlling Interests\tShareowners' Equity\nBalance December 29 2018\t750.0\t442.3\t4621.0\t6219.0\t(1814.3)\t(10.5)\t(2371.3)\t3.7\t7839.9\nNet earnings\t0\t0\t0\t169.9\t0\t0\t0\t0.5\t170.4\nOther comprehensive income\t0\t0\t0\t0\t1.0\t0\t0\t0\t1.0\nCash dividends declared - $0.66 per share\t0\t0\t0\t(97.6)\t0\t0\t0\t0\t(97.6)\nIssuance of common stock (284438 shares)\t0\t0\t(15.2)\t0\t0\t0\t25.4\t0\t10.2\nRepurchase of common stock (61663 shares)\t0\t0\t0\t0\t0\t0\t(8.1)\t0\t(8.1)\nStock-based compensation related\t0\t0\t16.7\t0\t0\t0\t0\t0\t16.7\nESOP\t0\t0\t0\t0\t0\t4.2\t0\t0\t4.2\nBalance March 30 2019\t750.0\t442.3\t4622.5\t6291.3\t(1813.3)\t(6.3)\t(2354.0)\t4.2\t7936.7\nNet earnings\t0\t0\t0\t356.3\t0\t0\t0\t1.1\t357.4\nOther comprehensive loss\t0\t0\t0\t0\t(0.7)\t0\t0\t0\t(0.7)\nCash dividends declared - $0.66 per share\t0\t0\t0\t(97.7)\t0\t0\t0\t0\t(97.7)\nIssuance of common stock (191538 shares)\t0\t0\t(2.8)\t0\t0\t0\t17.2\t0\t14.4\nRepurchase of common stock (7461 shares)\t0\t0\t0\t0\t0\t0\t(1.1)\t0\t(1.1)\nStock-based compensation related\t0\t0\t21.4\t0\t0\t0\t0\t0\t21.4\nESOP\t0\t0\t0\t0\t0\t2.9\t0\t0\t2.9\nBalance June 29 2019\t750.0\t442.3\t4641.1\t6549.9\t(1814.0)\t(3.4)\t(2337.9)\t5.3\t8233.3\nNet earnings\t0\t0\t0\t230.5\t0\t0\t0\t0.6\t231.1\nOther comprehensive loss\t0\t0\t0\t0\t(130.9)\t0\t0\t0\t(130.9)\nCash dividends declared - $0.69 per share\t0\t0\t0\t(102.3)\t0\t0\t0\t0\t(102.3)\nIssuance of common stock (295328 shares)\t0\t0\t(4.9)\t0\t0\t0\t26.4\t0\t21.5\nRepurchase of common stock (18315 shares)\t0\t0\t0\t0\t0\t0\t(2.7)\t0\t(2.7)\nStock-based compensation related\t0\t0\t17.1\t0\t0\t0\t0\t0\t17.1\nESOP\t0\t0\t0\t0\t0\t1.1\t0\t0\t1.1\nBalance September 28 2019\t750.0\t442.3\t4653.3\t6678.1\t(1944.9)\t(2.3)\t(2314.2)\t5.9\t8268.2\n", "q10k_tbl_8": "\tThird Quarter\t\t\tYear-to-Date\n\t2020\t2019\t2020\t2019\nNumerator (in millions):\t\t\t\t\nNet Earnings Attributable to Common Shareowners\t385.5\t230.5\t752.4\t756.7\nDenominator (in thousands):\t\t\t\t\nBasic weighted-average shares outstanding\t156370\t148350\t153345\t148111\nDilutive effect of stock contracts and awards\t1601\t2273\t1414\t2188\nDiluted weighted-average shares outstanding\t157971\t150623\t154759\t150299\nEarnings per share of common stock:\t\t\t\t\nBasic\t2.47\t1.55\t4.91\t5.11\nDiluted\t2.44\t1.53\t4.86\t5.03\n", "q10k_tbl_9": "\tThird Quarter\t\t\tYear-to-Date\n\t2020\t2019\t2020\t2019\nNumber of stock options\t2059\t2217\t2947\t2273\n", "q10k_tbl_10": "(Millions of Dollars)\tSeptember 26 2020\tDecember 28 2019\nTrade accounts receivable\t1599.0\t1284.0\nTrade notes receivable\t150.1\t156.7\nOther accounts receivable\t152.4\t126.3\nGross accounts and notes receivable\t1901.5\t1567.0\nAllowance for credit losses\t(137.3)\t(112.4)\nAccounts and notes receivable net\t1764.2\t1454.6\nLong-term receivables net\t135.9\t146.1\n", "q10k_tbl_11": "(Millions of Dollars)\tBalance June 27 2020\tCumulative Effect Adjustment (a)\tCharged To Costs and Expenses\tCharged To Other Accounts (b)\tDeductions (c)\tBalance September 26 2020\nAccounts receivable\t122.9\t0\t7.6\t2.3\t(9.4)\t123.4\nNotes receivable\t13.6\t0\t0\t0.3\t0\t13.9\nTotal\t136.5\t0\t7.6\t2.6\t(9.4)\t137.3\n", "q10k_tbl_12": "(Millions of Dollars)\tBalance December 28 2019\tCumulative Effect Adjustment (a)\tCharged To Costs and Expenses\tCharged To Other Accounts (b)\tDeductions (c)\tBalance September 26 2020\nAccounts receivable\t99.3\t2.9\t37.3\t(0.5)\t(15.6)\t123.4\nNotes receivable\t13.1\t0.9\t0\t0.2\t(0.3)\t13.9\nTotal\t112.4\t3.8\t37.3\t(0.3)\t(15.9)\t137.3\n", "q10k_tbl_13": "(Millions of Dollars)\tTotal\tWithin 1 Year\t2 Years\t3 Years\t4 Years\t5 Years\tThereafter\nFinancing receivables\t202.0\t77.7\t55.6\t37.2\t20.1\t9.9\t1.5\nOperating leases\t41.4\t39.6\t1.2\t0.5\t0.1\t0\t0\n", "q10k_tbl_14": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nSales-type lease revenue\t28.2\t20.8\t82.0\t62.3\nLease interest revenue\t3.3\t2.7\t9.4\t9.2\nOperating lease revenue\t30.4\t42.3\t101.9\t116.2\nTotal lease revenue\t61.9\t65.8\t193.3\t187.7\nSales-type lease profit\t11.2\t8.2\t32.6\t24.7\n", "q10k_tbl_15": "(Millions of Dollars)\tSeptember 26 2020\tDecember 28 2019\nFinished products\t2015.5\t1526.0\nWork in process\t221.2\t162.0\nRaw materials\t638.0\t567.0\nTotal\t2874.7\t2255.0\n", "q10k_tbl_16": "(Millions of Dollars)\t\nCash and cash equivalents\t35.9\nAccounts receivable net\t48.6\nInventories net\t126.9\nPrepaid expenses and other assets\t2.6\nProperty plant and equipment\t127.3\nTrade names\t25.0\nCustomer relationships\t565.0\nAccounts payable\t(25.9)\nAccrued expenses\t(26.5)\nDeferred taxes\t(18.0)\nOther liabilities\t(0.6)\nTotal identifiable net assets\t860.3\nGoodwill\t631.5\nContingent consideration\t(155.3)\nTotal consideration paid\t1336.5\n", "q10k_tbl_17": "(Millions of Dollars)\tThird Quarter 2020\tYear-to-Date 2020\nNet sales\t64.5\t162.9\nNet loss attributable to common shareowners\t(18.4)\t(69.8)\n", "q10k_tbl_18": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars except per share amounts)\t2020\t2019\t2020\t2019\nNet sales\t3850.2\t3725.6\t10173.0\t11083.0\nNet earnings attributable to common shareowners\t392.3\t226.8\t791.5\t731.7\nDiluted earnings per share\t2.48\t1.51\t5.11\t4.87\n", "q10k_tbl_19": "(Millions of Dollars)\tTools & Storage\tIndustrial\tSecurity\tTotal\nBalance December 28 2019\t5161.8\t1995.5\t2080.2\t9237.5\nAcquisitions\t0.1\t634.0\t0.1\t634.2\nForeign currency translation\t(5.4)\t9.2\t11.5\t15.3\nBalance September 26 2020\t5156.5\t2638.7\t2091.8\t9887.0\n", "q10k_tbl_20": "\t\tSeptember 26 2020\t\t\t\t\t\t\tDecember 28 2019\n(Millions of Dollars)\tInterest Rate\tOriginal Notional\tUnamortized Discount\tUnamortized Gain/(Loss) Terminated Swaps 1\tPurchase Accounting FV Adjustment\tDeferred Financing Fees\tCarrying Value\tCarrying Value\nNotes payable due 2021\t3.40%\t400.0\t0\t4.1\t\t(0.4)\t403.7\t406.0\nNotes payable due 2022\t2.90%\t754.3\t(0.1)\t0\t0\t(1.3)\t752.9\t752.3\nNotes payable due 2026\t3.40%\t500.0\t(0.6)\t0\t0\t(2.5)\t496.9\t496.5\nNotes payable due 2028\t7.05%\t150.0\t0\t8.5\t8.2\t0\t166.7\t168.3\nNotes payable due 2028\t4.25%\t500.0\t(0.3)\t0\t0\t(3.6)\t496.1\t495.8\nNotes payable due 2030\t2.30%\t750.0\t(2.3)\t0\t0\t(5.0)\t742.7\t0\nNotes payable due 2040\t5.20%\t400.0\t(0.2)\t(29.4)\t0\t(2.7)\t367.7\t366.5\nNotes payable due 2048\t4.85%\t500.0\t(0.5)\t0\t0\t(5.2)\t494.3\t494.1\nNotes payable due 2060 (junior subordinated)\t4.00%\t750.0\t0\t0\t0\t(9.4)\t740.6\t0\nTotal long-term debt including current maturities\t\t4704.3\t(4.0)\t(16.8)\t8.2\t(30.1)\t4661.6\t3179.5\nLess: Current maturities of long-term debt\t\t\t\t\t\t\t(3.1)\t(3.1)\nLong-term debt\t\t\t\t\t\t\t4658.5\t3176.4\n", "q10k_tbl_21": "(Millions of Dollars)\tBalance Sheet Classification\tSeptember 26 2020\tDecember 28 2019\tBalance Sheet Classification\tSeptember 26 2020\tDecember 28 2019\nDerivatives designated as hedging instruments:\t\t\t\t\t\t\nInterest Rate Contracts Cash Flow\tLT other assets\t0\t0\tLT other liabilities\t112.1\t40.5\nForeign Exchange Contracts Cash Flow\tOther current assets\t3.0\t7.0\tAccrued expenses\t3.3\t7.8\nNet Investment Hedge\tOther current assets\t6.0\t18.6\tAccrued expenses\t25.2\t8.5\n\tLT other assets\t0\t0\tLT other liabilities\t3.9\t2.6\nNon-derivative designated as hedging instrument:\t\t\t\t\t\t\nNet Investment Hedge\t\t0\t0\tShort-term borrowings\t0\t335.5\nTotal designated as hedging\t\t9.0\t25.6\t\t144.5\t394.9\nDerivatives not designated as hedging instruments:\t\t\t\t\t\t\nForeign Exchange Contracts\tOther current assets\t9.3\t3.7\tAccrued expenses\t5.5\t6.1\nTotal\t\t18.3\t29.3\t\t150.0\t401.0\n", "q10k_tbl_22": "\tThird Quarter 2020\t\t\tYear-to-Date 2020\n(Millions of Dollars)\tCost of Sales\tInterest Expense\tCost of Sales\tInterest Expense\nTotal amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the cash flow hedges are recorded\t2473.9\t52.7\t6714.9\t169.7\nGain (loss) on cash flow hedging relationships:\t\t\t\t\nForeign Exchange Contracts:\t\t\t\t\nHedged Items\t(5.9)\t0\t(12.5)\t0\nGain (loss) reclassified from OCI into Income\t5.9\t0\t12.5\t0\nInterest Rate Swap Agreements:\t\t\t\t\nGain (loss) reclassified from OCI into Income 1\t0\t(4.3)\t0\t(13.5)\n", "q10k_tbl_23": "\tThird Quarter 2019\t\t\tYear-to-Date 2019\n(Millions of Dollars)\tCost of Sales\tInterest Expense\tCost of Sales\tInterest Expense\nTotal amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the cash flow hedges are recorded\t2393.6\t72.4\t7083.1\t219.2\nGain (loss) on cash flow hedging relationships:\t\t\t\t\nForeign Exchange Contracts:\t\t\t\t\nHedged Items\t(5.8)\t0\t(8.3)\t0\nGain (loss) reclassified from OCI into Income\t5.8\t0\t8.3\t0\nInterest Rate Swap Agreements:\t\t\t\t\nGain (loss) reclassified from OCI into Income 1\t0\t(4.1)\t0\t(12.2)\n", "q10k_tbl_24": "\tYear-to-Date 2020\t\t\t\t\n(Millions of Dollars)\tTotal Gain (Loss) Recorded in OCI\tExcluded Component Recorded in OCI\tIncome Statement Classification\tTotal Gain (Loss) Reclassified from OCI to Income\tExcluded Component Amortized from OCI to Income\nForward Contracts\t0.4\t0\tOther net\t0\t0\nCross Currency Swap\t22.3\t48.9\tOther net\t13.7\t13.7\nOption Contracts\t0\t0\tOther net\t0\t0\nNon-derivative designated as Net Investment Hedge\t(8.5)\t0\tOther net\t0\t0\n", "q10k_tbl_25": "\tThird Quarter 2019\t\t\t\t\n(Millions of Dollars)\tTotal Gain (Loss) Recorded in OCI\tExcluded Component Recorded in OCI\tIncome Statement Classification\tTotal Gain (Loss) Reclassified from OCI to Income\tExcluded Component Amortized from OCI to Income\nForward Contracts\t9.2\t1.0\tOther net\t1.1\t1.1\nCross Currency Swap\t35.9\t12.9\tOther net\t7.7\t7.7\nOption Contracts\t0.3\t0\tOther net\t0\t0\nNon-derivative designated as Net Investment Hedge\t35.2\t0\tOther net\t0\t0\n", "q10k_tbl_26": "\tYear-to-Date 2019\t\t\t\t\n(Millions of Dollars)\tTotal Gain (Loss) Recorded in OCI\tExcluded Component Recorded in OCI\tIncome Statement Classification\tTotal Gain (Loss) Reclassified from OCI to Income\tExcluded Component Amortized from OCI to Income\nForward Contracts\t15.4\t5.2\tOther net\t3.4\t3.4\nCross Currency Swap\t59.4\t36.9\tOther net\t22.2\t22.2\nOption Contracts\t(1.8)\t0\tOther net\t0\t0\nNon-derivative designated as Net Investment Hedge\t39.4\t0\tOther net\t0\t0\n", "q10k_tbl_27": "(Millions of Dollars)\tIncome Statement Classification\tThird Quarter 2020\tYear-to-Date 2020\tThird Quarter 2019\tYear-to-Date 2019\nForeign Exchange Contracts\tOther net\t(9.0)\t(2.6)\t2.0\t0.7\n", "q10k_tbl_28": "(Millions of Dollars)\tCurrency translation adjustment and other\tUnrealized (losses) gains on cash flow hedges net of tax\tUnrealized gains (losses) on net investment hedges net of tax\tPension (losses) gains net of tax\tTotal\nBalance - December 28 2019\t(1517.2)\t(54.2)\t97.3\t(410.5)\t(1884.6)\nOther comprehensive (loss) income before reclassifications\t(29.2)\t(61.7)\t(10.5)\t3.0\t(98.4)\nReclassification adjustments to earnings\t0\t0.6\t10.4\t10.9\t21.9\nNet other comprehensive (loss) income\t(29.2)\t(61.1)\t(0.1)\t13.9\t(76.5)\nBalance - September 26 2020\t(1546.4)\t(115.3)\t97.2\t(396.6)\t(1961.1)\n", "q10k_tbl_29": "(Millions of Dollars)\tCurrency translation adjustment and other\tUnrealized (losses) gains on cash flow hedges net of tax\tUnrealized gains (losses) on net investment hedges net of tax\tPension (losses) gains net of tax\tTotal\nBalance - December 29 2018\t(1481.2)\t(26.8)\t63.3\t(369.6)\t(1814.3)\nOther comprehensive (loss) income before reclassifications\t(182.4)\t(29.9)\t83.5\t6.6\t(122.2)\nReclassification adjustments to earnings\t0\t2.2\t(19.3)\t8.7\t(8.4)\nNet other comprehensive (loss) income\t(182.4)\t(27.7)\t64.2\t15.3\t(130.6)\nBalance - September 28 2019\t(1663.6)\t(54.5)\t127.5\t(354.3)\t(1944.9)\n", "q10k_tbl_30": "(Millions of Dollars)\t2020\t2019\tAffected line item in Consolidated Statements of Operations And Comprehensive Income\nRealized gains on cash flow hedges\t12.5\t8.3\tCost of sales\nRealized losses on cash flow hedges\t(13.5)\t(12.2)\tInterest expense\nTotal before taxes\t(1.0)\t(3.9)\t\nTax effect\t0.4\t1.7\tIncome taxes\nRealized losses on cash flow hedges net of tax\t(0.6)\t(2.2)\t\nRealized (losses) gains on net investment hedges\t(13.7)\t25.6\tOther net\nTax effect\t3.3\t(6.3)\tIncome taxes\nRealized (losses) gains on net investment hedges net of tax\t(10.4)\t19.3\t\nAmortization of defined benefit pension items:\t\t\t\nActuarial losses and prior service costs / credits\t(14.5)\t(11.5)\tOther net\nTax effect\t3.6\t2.8\tIncome taxes\nAmortization of defined benefit pension items net of tax\t(10.9)\t(8.7)\t\n", "q10k_tbl_31": "\tThird Quarter\t\t\t\t\t\t\t\n\tPension Benefits\t\t\t\t\t\t\tOther Benefits\n\tU.S. Plans\t\t\tNon-U.S. Plans\t\t\tAll Plans\t\n(Millions of Dollars)\t2020\t2019\t2020\t2019\t2020\t2019\nService cost\t1.7\t3.1\t4.0\t3.5\t0.2\t0.1\nInterest cost\t8.8\t11.8\t5.7\t7.4\t0.3\t0.4\nExpected return on plan assets\t(14.7)\t(15.4)\t(10.4)\t(11.1)\t0\t0\nAmortization of prior service cost (credit)\t0.3\t0.2\t(0.1)\t(0.1)\t(0.3)\t(0.3)\nAmortization of net loss (gain)\t2.1\t2.0\t2.9\t2.1\t0\t(0.1)\nSpecial termination benefit\t0\t0\t0\t0\t0.1\t0\nSettlement / curtailment loss (gain)\t0\t0\t0.3\t(0.2)\t0\t0\nNet periodic pension (benefit) expense\t(1.8)\t1.7\t2.4\t1.6\t0.3\t0.1\n", "q10k_tbl_32": "\tYear-to-Date\t\t\t\t\t\t\t\n\tPension Benefits\t\t\t\t\t\t\tOther Benefits\n\tU.S. Plans\t\t\tNon-U.S. Plans\t\t\tAll Plans\t\n(Millions of Dollars)\t2020\t2019\t2020\t2019\t2020\t2019\nService cost\t5.1\t9.3\t11.9\t10.9\t0.5\t0.2\nInterest cost\t26.5\t35.3\t16.7\t22.7\t1.1\t1.2\nExpected return on plan assets\t(44.1)\t(46.3)\t(30.6)\t(34.1)\t0\t0\nAmortization of prior service cost (credit)\t0.8\t0.7\t(0.5)\t(0.5)\t(1.0)\t(1.0)\nAmortization of net loss (gain)\t6.4\t6.0\t8.6\t6.5\t0.2\t(0.2)\nSpecial termination benefit\t0\t0\t0\t0\t16.1\t0\nSettlement / curtailment loss\t0\t0\t0.6\t0\t0\t0\nNet periodic pension (benefit) expense\t(5.3)\t5.0\t6.7\t5.5\t16.9\t0.2\n", "q10k_tbl_33": "(Millions of Dollars)\tTotal Carrying Value\tLevel 1\tLevel 2\tLevel 3\nSeptember 26 2020\t\t\t\t\nMoney market fund\t3.9\t3.9\t0\t0\nDerivative assets\t18.3\t0\t18.3\t0\nDerivative liabilities\t150.0\t0\t150.0\t0\nContingent consideration liabilities\t342.1\t0\t0\t342.1\nDecember 28 2019\t\t\t\t\nMoney market fund\t1.2\t1.2\t0\t0\nDerivative assets\t29.3\t0\t29.3\t0\nDerivative liabilities\t65.5\t0\t65.5\t0\nNon-derivative hedging instrument\t335.5\t0\t335.5\t0\nContingent consideration liability\t196.1\t0\t0\t196.1\n", "q10k_tbl_34": "\tSeptember 26 2020\t\t\tDecember 28 2019\n(Millions of Dollars)\tCarrying Value\tFair Value\tCarrying Value\tFair Value\nOther investments\t13.3\t13.9\t14.4\t14.8\nLong-term debt including current portion\t4661.6\t5403.3\t3179.5\t3601.0\n", "q10k_tbl_35": "(Millions of Dollars)\tDecember 28 2019\tNet Additions\tUsage\tCurrency\tSeptember 26 2020\nSeverance and related costs\t140.3\t70.3\t(77.4)\t(2.5)\t130.7\nFacility closures and asset impairments\t7.5\t4.3\t(10.1)\t0\t1.7\nTotal\t147.8\t74.6\t(87.5)\t(2.5)\t132.4\n", "q10k_tbl_36": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nNET SALES\t\t\t\t\nTools & Storage\t2804.1\t2534.0\t7072.1\t7452.3\nIndustrial\t586.6\t632.7\t1694.8\t1837.6\nSecurity\t459.5\t466.4\t1360.1\t1438.1\nTotal\t3850.2\t3633.1\t10127.0\t10728.0\nSEGMENT PROFIT\t\t\t\t\nTools & Storage\t597.1\t410.1\t1177.0\t1115.9\nIndustrial\t63.8\t90.3\t136.7\t256.4\nSecurity\t39.3\t33.1\t69.4\t110.6\nSegment profit\t700.2\t533.5\t1383.1\t1482.9\nCorporate overhead\t(62.8)\t(50.1)\t(190.4)\t(155.3)\nOther net\t(74.3)\t(55.0)\t(236.1)\t(182.6)\nGain on sale of business\t0\t0\t0\t17.2\nRestructuring charges\t(42.8)\t(74.0)\t(74.6)\t(91.2)\nInterest expense\t(52.7)\t(72.4)\t(169.7)\t(219.2)\nInterest income\t2.0\t12.7\t14.6\t41.4\nEarnings before income taxes and equity interest\t469.6\t294.7\t726.9\t893.2\n", "q10k_tbl_37": "\tThird Quarter\t\t\tYear-to-Date\n\t2020\t2019\t2020\t2019\nIndustrial\t8.0%\t12.6%\t10.0%\t10.9%\nSecurity\t49.7%\t46.9%\t49.1%\t45.7%\n", "q10k_tbl_38": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nEngineered Fastening\t436.0\t429.5\t1212.4\t1305.7\nInfrastructure\t150.6\t203.2\t482.4\t531.9\nIndustrial\t586.6\t632.7\t1694.8\t1837.6\n", "q10k_tbl_39": "(Millions of Dollars)\tSeptember 26 2020\tDecember 28 2019\nTools & Storage\t14334.8\t13642.4\nIndustrial\t5616.3\t4207.0\nSecurity\t3416.0\t3448.6\n\t23367.1\t21298.0\nCorporate\t(326.2)\t(701.4)\nConsolidated\t23040.9\t20596.6\n", "q10k_tbl_40": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nUnited States\t2336.2\t2178.0\t6182.2\t6286.5\nCanada\t185.1\t158.0\t470.8\t462.8\nOther Americas\t168.6\t185.6\t388.8\t534.6\nFrance\t148.9\t135.0\t389.5\t441.2\nOther Europe\t722.3\t687.0\t1953.5\t2141.6\nAsia\t289.1\t289.5\t742.2\t861.3\nConsolidated\t3850.2\t3633.1\t10127.0\t10728.0\n", "q10k_tbl_41": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nOperating lease cost\t38.8\t37.7\t113.7\t114.0\nShort-term lease cost\t6.2\t6.8\t19.0\t20.2\nVariable lease cost\t1.6\t2.1\t5.4\t6.4\nSublease income\t(0.3)\t(0.6)\t(0.7)\t(2.1)\nTotal lease cost\t46.3\t46.0\t137.4\t138.5\n", "q10k_tbl_42": "(Millions of Dollars)\tTotal\t2020\t2021\t2022\t2023\t2024\tThereafter\nLease obligations\t595.5\t37.5\t131.9\t100.4\t73.3\t62.1\t190.3\n", "q10k_tbl_43": "(Millions of Dollars)\t2020\t2019\nBalance beginning of period\t100.1\t102.1\nWarranties and guarantees issued\t94.1\t92.7\nWarranty payments and currency\t(84.5)\t(97.7)\nBalance end of period\t109.7\t97.1\n", "q10k_tbl_44": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nNet sales\t2804.1\t2534.0\t7072.1\t7452.3\nSegment profit\t597.1\t410.1\t1177.0\t1115.9\n% of Net sales\t21.3%\t16.2%\t16.6%\t15.0%\n", "q10k_tbl_45": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nNet sales\t586.6\t632.7\t1694.8\t1837.6\nSegment profit\t63.8\t90.3\t136.7\t256.4\n% of Net sales\t10.9%\t14.3%\t8.1%\t14.0%\n", "q10k_tbl_46": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nNet sales\t459.5\t466.4\t1360.1\t1438.1\nSegment profit\t39.3\t33.1\t69.4\t110.6\n% of Net sales\t8.6%\t7.1%\t5.1%\t7.7%\n", "q10k_tbl_47": "(Millions of Dollars)\tDecember 28 2019\tNet Additions\tUsage\tCurrency\tSeptember 26 2020\nSeverance and related costs\t140.3\t70.3\t(77.4)\t(2.5)\t130.7\nFacility closures and asset impairments\t7.5\t4.3\t(10.1)\t0\t1.7\nTotal\t147.8\t74.6\t(87.5)\t(2.5)\t132.4\n", "q10k_tbl_48": "\tThird Quarter\t\t\tYear-to-Date\n(Millions of Dollars)\t2020\t2019\t2020\t2019\nNet cash provided by operating activities\t677.2\t192.7\t600.2\t262.4\nLess: capital and software expenditures\t(62.1)\t(96.7)\t(209.5)\t(283.5)\nFree cash flow\t615.1\t96.0\t390.7\t(21.1)\n", "q10k_tbl_49": "2020\t(a) Total Number Of Shares Purchased\tAverage Price Paid Per Share\tTotal Number Of Shares Purchased As Part Of A Publicly Announced Plan Or Program\t(b) Maximum Number Of Shares That May Yet Be Purchased Under The Program\nJune 28 - August 1\t14675\t152.36\t0\t11450000\nAugust 2 - August 29\t0\t0\t0\t11450000\nAugust 30 - September 26\t481\t163.13\t0\t11450000\nTotal\t15156\t152.71\t0\t11450000\n", "q10k_tbl_50": "(10.1)\t364-Day Credit Agreement made as of September 9 2020 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 to the Company's Current Report on Form 8-K filed on September 15 2020).\n(11)\tStatement 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).\n(31)(i)(a)\tCertification by President and Chief Executive Officer pursuant to Rule 13a-14(a).\n(i)(b)\tCertification by Executive Vice President and Chief Financial Officer pursuant to Rule 13a-14(a).\n(32)(i)\tCertification by President and Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n(ii)\tCertification by Executive Vice President and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n(101)\tThe following materials from Stanley Black & Decker Inc.'s Quarterly Report on Form 10-Q for the quarter ended September 26 2020 formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended September 26 2020 and September 28 2019; (ii) Condensed Consolidated Balance Sheets at September 26 2020 and December 28 2019; (iii) Condensed Consolidated Statements of Cash Flows for the three and nine months ended September 26 2020 and September 28 2019; (iv) Consolidated Statements of Changes in Shareowners' Equity for the three and nine months ended September 26 2020 and September 28 2019; and (v) Notes to (Unaudited) Condensed Consolidated Financial Statements**.\n(104)\tThe cover page of Stanley Black & Decker Inc.'s Quarterly Report on Form 10-Q for the quarter ended September 26 2020 formatted in iXBRL (included within Exhibit 101 attachments).\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_2", "cf": "q10k_tbl_16"}None
☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 26, 2020
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from [ ] to [ ]
Commission File Number 001-05224
STANLEY BLACK & DECKER, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
CT
06-0548860
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)
(I.R.S. EMPLOYER IDENTIFICATION NUMBER)
1000 STANLEY DRIVE
NEW BRITAIN, CT06053
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)
REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE 860225-5111
Securities registered pursuant to Section 12(b) of the Act:
Title Of Each Class
Trading Symbol
Name Of Each Exchange On Which Registered
Common Stock
$2.50 Par Value per Share
SWK
New York Stock Exchange
Corporate Units
SWT
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large Accelerated Filer
þ
Accelerated Filer
¨
Non-Accelerated Filer
¨
Smaller Reporting Company
☐
Emerging Growth Company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐No ☑
160,223,299 shares of the registrant’s common stock were outstanding as of October 16, 2020.
The following table provides a reconciliation of the cash, cash equivalents and restricted cash balances as of September 26, 2020 and December 28, 2019, as shown above:
September 26, 2020
December 28, 2019
Cash and cash equivalents
$
683.0
$
297.7
Restricted cash included in Other current assets
13.1
16.9
Cash, cash equivalents and restricted cash
$
696.1
$
314.6
See Notes to (Unaudited) Condensed Consolidated Financial Statements.