Stanley Black & Decker, Inc 10-Q for FY2021 Q3

Stanley Black & Decker, Inc. (SWK)

10-Q 2021-11-12 For: 2021-10-02

Added on April 06, 2026

About this 10-Q

Stanley Black & Decker, Inc filed this 10-Q on November 12, 2021, covering the quarter ended October 2, 2021 (FY2021 Q3).

Headline figures

Quarter ended October 2, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $4.26B; up 10.7% from $3.85B a year earlier
Net income: $414.2M; up 4.9% from net income of $394.9M a year earlier
Diluted EPS: $2.51; up 2.9% from $2.44 a year earlier

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CT						06-0548860
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)						(I.R.S. EMPLOYER IDENTIFICATION NUMBER)


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



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			38
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK			50
ITEM 4. CONTROLS AND PROCEDURES			50
PART II — OTHER INFORMATION			53
ITEM 1. LEGAL PROCEEDINGS			53
ITEM 1A. RISK FACTORS			53
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS			53
ITEM 6. EXHIBITS			54
SIGNATURE			55


	Third Quarter				Year-to-Date
	2021		2020		2021		2020
Net Sales	$	4,263.2	$	3,850.2	$	12,761.2	$	10,127.0
Costs and Expenses
Cost of sales	$	2,871.7	$	2,473.9	$	8,261.8	$	6,714.9
Selling, general and administrative	895.2		731.3		2,645.1		2,182.1
Provision for credit losses	3.6		7.6		8.2		37.3
Other, net	39.5		74.3		152.3		236.1
Loss on sales of businesses	—		—		3.6		—
Restructuring charges	5.8		42.8		22.1		74.6
Interest expense	45.8		52.7		139.8		169.7
Interest income	(2.3)		(2.0)		(7.9)		(14.6)
	$	3,859.3	$	3,380.6	$	11,225.0	$	9,400.1
Earnings before income taxes and equity interest	403.9		469.6		1,536.2		726.9
Income taxes	(0.4)		78.4		192.8		(26.0)
Net earnings before equity interest	$	404.3	$	391.2	$	1,343.4	$	752.9
Share of net earnings of equity method investment	9.8		4.0		16.0		14.1
Net earnings	$	414.1	$	395.2	$	1,359.4	$	767.0
Less: Net (losses) earnings attributable to non-controlling interests	(0.1)		0.3		(1.7)		0.5
Net earnings attributable to Stanley Black & Decker, Inc.	$	414.2	$	394.9	$	1,361.1	$	766.5
Less: Preferred stock dividends	—		9.4		14.2		14.1
Add: Contract adjustment payments accretion	0.4		—		0.9		—
Net Earnings Attributable to Common Shareowners	$	414.6	$	385.5	$	1,347.8	$	752.4
Total Comprehensive Income Attributable to Common Shareowners	$	326.8	$	465.0	$	1,186.7	$	675.9
Earnings per share of common stock:
Basic	$	2.60	$	2.47	$	8.50	$	4.91
Diluted	$	2.51	$	2.44	$	8.17	$	4.86
Dividends per share of common stock	$	0.79	$	0.70	$	2.19	$	2.08
Weighted-average shares outstanding (in thousands):
Basic	159,444		156,370		158,494		153,345
Diluted	165,336		157,971		164,900		154,759


	October 2, 2021		January 2, 2021
ASSETS
Current Assets
Cash and cash equivalents	$	292.7	$	1,381.0
Accounts and notes receivable, net	1,989.0		1,512.2
Inventories, net	4,134.4		2,737.4
Prepaid expenses	419.3		370.7
Other current assets	41.0		34.7
Total Current Assets	6,876.4		6,036.0
Property, plant and equipment, net	2,051.3		2,053.8
Goodwill	9,944.1		10,038.1
Intangibles, net	3,892.9		4,055.4
Other assets	1,561.9		1,383.0
Total Assets	$	24,326.6	$	23,566.3
LIABILITIES AND SHAREOWNERS' EQUITY
Current Liabilities
Short-term borrowings	$	152.2	$	1.5
Accounts payable	3,055.7		2,446.4
Accrued expenses	2,372.9		2,110.4
Total Current Liabilities	5,580.8		4,558.3
Long-term debt	4,246.9		4,245.4
Deferred taxes	560.7		568.0
Post-retirement benefits	573.3		642.6
Other liabilities	2,046.7		2,485.6
Commitments and Contingencies (Notes R and S)
Shareowners’ Equity
Stanley Black & Decker, Inc. Shareowners’ Equity
Preferred stock, without par value: Authorized 10,000,000 shares in 2021 and 2020 Issued and outstanding 750,000 shares in 2021 and 1,500,000 shares in 2020	750.0		1,500.0
Common stock, par value $2.50 per share: Authorized 300,000,000 shares in 2021 and 2020 Issued 176,902,738 shares in 2021 and 2020	442.3		442.3
Retained earnings	8,546.8		7,547.6
Additional paid in capital	4,842.3		4,832.7
Accumulated other comprehensive loss	(1,874.8)		(1,713.7)
	12,706.6		12,608.9
Less: cost of common stock in treasury	(1,390.3)		(1,549.3)
Stanley Black & Decker, Inc. Shareowners’ Equity	11,316.3		11,059.6
Non-controlling interests	1.9		6.8
Total Shareowners’ Equity	11,318.2		11,066.4
Total Liabilities and Shareowners’ Equity	$	24,326.6	$	23,566.3


	October 2, 2021		January 2, 2021
Cash and cash equivalents	$	292.7	$	1,381.0
Restricted cash included in Other current assets	10.7		17.3
Cash, cash equivalents and restricted cash	$	303.4	$	1,398.3


	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	$	1,500.0	$	442.3	$	4,832.7	$	7,547.6	$	(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 common 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)
Non-controlling interest buyout	—		—		(2.8)		—		—		—		(3.2)		(6.0)
Stock-based compensation related	—		—		25.6		—		—		—		—		25.6
Balance April 3, 2021	$	1,500.0	$	442.3	$	4,842.8	$	7,915.5	$	(1,811.4)	$	(1,487.4)	$	3.0	$	11,404.8
Net earnings (loss)	—		—		—		459.5		—		—		(1.0)		458.5
Other comprehensive income	—		—		—		—		24.4		—		—		24.4
Cash dividends declared — $0.70 per common share	—		—		—		(111.6)		—		—		—		(111.6)
Cash dividends declared — $50.00 per annum per preferred share	—		—		—		(4.8)		—		—		—		(4.8)
Issuance of common stock (305,153 shares)	—		—		8.1		—		—		28.2		—		36.3
Repurchase of common stock (355,751 shares)	—		—		72.2		—		—		(74.6)		—		(2.4)
Redemption and conversion of preferred stock (1,469,055 shares)	(750.0)		—		(137.3)		—		—		137.3		—		(750.0)
Stock-based compensation related	—		—		30.8		—		—		—		—		30.8
Balance July 3, 2021	$	750.0	$	442.3	$	4,816.6	$	8,258.6	$	(1,787.0)	$	(1,396.5)	$	2.0	$	11,086.0
Net earnings (loss)	—		—		—		414.2		—		—		(0.1)		414.1
Other comprehensive loss	—		—		—		—		(87.8)		—		—		(87.8)
Cash dividends declared — $0.79 per common share	—		—		—		(126.0)		—		—		—		(126.0)
Issuance of common stock (96,462 shares)	—		—		(1.3)		—		—		9.0		—		7.7
Repurchase of common stock (14,153 shares)	—		—		—		—		—		(2.8)		—		(2.8)
Stock-based compensation related	—		—		27.0		—		—		—		—		27.0
Balance October 2, 2021	$	750.0	$	442.3	$	4,842.3	$	8,546.8	$	(1,874.8)	$	(1,390.3)	$	1.9	$	11,318.2


(Millions of Dollars)	October 2, 2021		January 2, 2021
Trade accounts receivable	$	1,816.0	$	1,345.7
Trade notes receivable	150.7		156.1
Other accounts receivable	161.4		151.5
Gross accounts and notes receivable	$	2,128.1	$	1,653.3
Allowance for credit losses	(139.1)		(141.1)
Accounts and notes receivable, net	$	1,989.0	$	1,512.2
Long-term receivables, net	$	138.0	$	139.9



(Millions of Dollars)	Balance July 3, 2021		Cumulative Effect Adjustment (a)		Charged To Costs and Expenses		Charged To Other Accounts (b)		Deductions (c)		Balance October 2, 2021
Accounts receivable	$	126.4	$	—	$	3.4	$	(2.6)	$	(3.1)	$	124.1
Notes receivable	14.8		—		0.2		—		—		15.0
Total	$	141.2	$	—	$	3.6	$	(2.6)	$	(3.1)	$	139.1


(Millions of Dollars)	Balance January 2, 2021		Cumulative Effect Adjustment (a)		Charged To Costs and Expenses		Charged To Other Accounts (b)		Deductions (c)		Balance October 2, 2021
Accounts receivable	$	126.7	$	—	$	7.6	$	(1.8)	$	(8.4)	$	124.1
Notes receivable	14.4		—		0.6		—		—		15.0
Total	$	141.1	$	—	$	8.2	$	(1.8)	$	(8.4)	$	139.1


(Millions of Dollars)	Balance June 27, 2020		Cumulative Effect Adjustment (a)		Charged To Costs and Expenses		Charged To Other Accounts (b)		Deductions (c)		Balance September 26, 2020
Accounts receivable	122.9		—		7.6		2.3		(9.4)		123.4
Notes receivable	13.6		—		—		0.3		—		13.9
Total	$	136.5	$	—	$	7.6	$	2.6	$	(9.4)	$	137.3


(Millions of Dollars)	Balance December 28 2019		Cumulative Effect Adjustment (a)		Charged To Costs and Expenses		Charged To Other Accounts (b)		Deductions (c)		Balance September 26, 2020
Accounts receivable	$	99.3	$	2.9	$	37.3	$	(0.5)	$	(15.6)	$	123.4
Notes receivable	$	13.1	$	0.9	$	—	$	0.2	$	(0.3)	$	13.9
Total	$	112.4	$	3.8	$	37.3	$	(0.3)	$	(15.9)	$	137.3


(Millions of Dollars)	Total		Within 1 Year		2 Years		3 Years		4 Years		5 Years		Thereafter
Financing receivables	$	199.2	$	73.1	$	54.3	$	37.7	$	21.6	$	10.8	$	1.7
Operating leases	$	28.3	$	26.5	$	0.9	$	0.5	$	0.3	$	0.1	$	—


(Millions of Dollars)
Cash and cash equivalents	$	35.8
Accounts receivable, net	48.3
Inventories, net	124.3
Prepaid expenses and other assets	2.6
Property, plant and equipment	127.9
Trade names	25.0
Customer relationships	565.0
Accounts payable	(25.9)
Accrued expenses	(26.9)
Deferred taxes	(16.3)
Other liabilities	(0.3)
Total identifiable net assets	$	859.5
Goodwill	632.3
Contingent consideration	(155.3)
Total consideration paid	$	1,336.5


(Millions of Dollars, except per share amounts)	Third Quarter 2020		Year-to-Date 2020
Net sales	$	3,854.2	$	10,185.0
Net earnings attributable to common shareowners	$	392.5	$	791.7
Diluted earnings per share	$	2.48	$	5.12


STANLEY BLACK & DECKER, INC.


	Third Quarter				Year-to-Date
	2021		2020		2021		2020
OPERATING ACTIVITIES
Net earnings	$	414.1	$	395.2	$	1,359.4	$	767.0
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation and amortization of property, plant and equipment	93.9		94.1		279.3		281.1
Amortization of intangibles	50.3		51.2		151.3		150.0
Loss on sales of businesses	—		—		3.6		—
Share of net earnings of equity method investment	(9.8)		(4.0)		(16.0)		(14.1)
Changes in working capital	(456.7)		51.6		(1,373.5)		(667.5)
Changes in other assets and liabilities	(87.2)		89.1		(112.9)		83.7
Cash provided by operating activities	4.6		677.2		291.2		600.2
INVESTING ACTIVITIES
Capital and software expenditures	(129.1)		(62.1)		(322.5)		(209.5)
Business acquisitions, net of cash acquired	(9.3)		1.4		(10.8)		(1,300.6)
Purchases of investments	(3.5)		(1.0)		(14.5)		(14.6)
Net investment hedge settlements	(1.3)		—		(53.9)		41.0
Other	0.2		(2.1)		2.0		(0.6)
Cash used in investing activities	(143.0)		(63.8)		(399.7)		(1,484.3)
FINANCING ACTIVITIES
Proceeds from debt issuances, net of fees	—		—		—		1,482.6
Stock purchase contract fees	(9.9)		(9.8)		(29.5)		(49.9)
Net short-term borrowings (repayments)	149.6		(712.9)		150.7		(341.8)
Proceeds from issuances of common stock	7.7		42.5		108.1		843.8
Purchases of common stock for treasury	(2.8)		(1.9)		(20.1)		(11.2)
Redemption and conversion of preferred stock	—		—		(750.0)		—
Craftsman deferred purchase price	—		—		—		(250.0)
Craftsman contingent consideration	(7.6)		(6.0)		(21.5)		(39.0)
Termination of interest rate swaps	—		—		—		(20.5)
Cash dividends on common stock	(126.0)		(109.6)		(347.7)		(321.0)
Cash dividends on preferred stock	—		(9.4)		(18.9)		(9.4)
Other	(3.2)		(3.1)		(11.6)		(10.1)
Cash provided by (used in) financing activities	7.8		(810.2)		(940.5)		1,273.5
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(15.5)		16.3		(45.9)		(7.9)
Change in cash, cash equivalents and restricted cash	(146.1)		(180.5)		(1,094.9)		381.5
Cash, cash equivalents and restricted cash, beginning of period	449.5		876.6		1,398.3		314.6
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	$	303.4	$	696.1	$	303.4	$	696.1


	Third Quarter				Year-to-Date
(Millions of Dollars)	2021		2020		2021		2020
Sales-type lease revenue	$	27.8	$	28.2	$	93.8	$	82.0
Lease interest revenue	3.2		3.3		9.9		9.4
Operating lease revenue	21.5		30.4		61.6		101.9
Total lease revenue	$	52.5	$	61.9	$	165.3	$	193.3
Sales-type lease profit	$	11.0	$	11.2	$	37.3	$	32.6


(Millions of Dollars)	October 2, 2021		January 2, 2021
Finished products	$	2,777.4	$	1,922.5
Work in process	350.3		222.3
Raw materials	1,006.7		592.6
Total	$	4,134.4	$	2,737.4


(Millions of Dollars)	Tools & Storage		Industrial		Security		Total
Balance January 2, 2021	$	5,247.7	$	2,646.5	$	2,143.9	$	10,038.1
Acquisitions	4.4		(0.5)		5.2		9.1
Foreign currency translation	(41.2)		(19.5)		(42.4)		(103.1)
Balance October 2, 2021	$	5,210.9	$	2,626.5	$	2,106.7	$	9,944.1


(Millions of Dollars)	Balance Sheet Classification	October 2, 2021		January 2, 2021		Balance Sheet Classification	October 2, 2021		January 2, 2021
Derivatives designated as hedging instruments:
Interest Rate Contracts Cash Flow	Other current assets	$	—	$	—	Accrued expenses	$	60.6	$	90.9
Foreign Exchange Contracts Cash Flow	Other current assets	17.8		—		Accrued expenses	0.9		23.7
	LT other assets	0.4		—		LT other liabilities	—		—
Net Investment Hedge	Other current assets	2.3		3.5		Accrued expenses	0.5		55.1
	LT other assets	0.4		—		LT other liabilities	—		5.7
Total designated as hedging		$	20.9	$	3.5		$	62.0	$	175.4
Derivatives not designated as hedging instruments:
Foreign Exchange Contracts	Other current assets	$	8.7	$	10.5	Accrued expenses	$	7.2	$	15.6
Total		$	29.6	$	14.0		$	69.2	$	191.0


	Third Quarter 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	$	2.9	Interest expense	$	(0.8)	$	—
Foreign Exchange Contracts	$	11.0	Cost of sales	$	(9.9)	$	—


	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	$	30.3	Interest expense	$	(2.9)	$	—
Foreign Exchange Contracts	$	19.2	Cost of sales	$	(21.3)	$	—


(Millions of Dollars)	Third Quarter 2021 Interest Expense		Year-to-Date 2021 Interest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the fair value hedges are recorded	$	45.8	$	139.8
Amortization of gain on terminated swaps	$	(0.1)	$	(0.3)


(Millions of Dollars)	Third Quarter 2020 Interest Expense		Year-to-Date 2020 Interest Expense
Total amount in the Consolidated Statements of Operations and Comprehensive Income in which the effects of the fair value hedges are recorded	$	52.7	$	169.7
Amortization of gain on terminated swaps	$	(0.8)	$	(2.4)


	October 2, 2021
(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

Long-Term Debt	$	4,246.9	Terminated Swaps	$	(20.5)


	Third Quarter 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)	$	0.3	Other, net	$	0.4	$	0.4
Cross Currency Swap	$	(0.2)	$	6.0	Other, net	$	0.8	$	0.8


(Millions of Dollars)	Income Statement Classification	Third Quarter 2021		Year-to-Date 2021		Third Quarter 2020		Year-to-Date 2020
Foreign Exchange Contracts	Other, net	$	3.4	$	(20.1)	$	(9.0)	$	(2.6)


(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	(239.7)		42.9		5.9		6.6		(184.3)
Reclassification adjustments to earnings	—		13.5		(3.0)		12.7		23.2
Net other comprehensive (loss) income	(239.7)		56.4		2.9		19.3		(161.1)
Balance - October 2, 2021	$	(1,475.0)	$	(46.6)	$	75.7	$	(428.9)	$	(1,874.8)


	Third Quarter
	Pension Benefits								Other Benefits
	U.S. Plans				Non-U.S. Plans				All Plans
(Millions of Dollars)	2021		2020		2021		2020		2021		2020
Service cost	$	1.7	$	1.7	$	4.3	$	4.0	$	0.2	$	0.2
Interest cost	5.7		8.8		4.2		5.7		0.2		0.3
Expected return on plan assets	(13.8)		(14.7)		(10.0)		(10.4)		—		—
Amortization of prior service cost (credit)	0.3		0.3		(0.2)		(0.1)		(0.2)		(0.3)
Amortization of net loss	2.3		2.1		3.4		2.9		—		—
Special termination benefit	—		—		—		—		—		0.1
Settlement / curtailment (gain) loss	—		—		(0.3)		0.3		—		—
Net periodic pension (benefit) expense	$	(3.8)	$	(1.8)	$	1.4	$	2.4	$	0.2	$	0.3


(Millions of Dollars)	Total Carrying Value		Level 1		Level 2		Level 3
October 2, 2021
Money market fund	$	29.7	$	29.7	$	—	$	—
Equity Security	$	18.6	$	18.6	$	—	$	—
Derivative assets	$	29.6	$	—	$	29.6	$	—
Derivative liabilities	$	69.2	$	—	$	69.2	$	—

Contingent consideration liability	$	189.3	$	—	$	—	$	189.3
January 2, 2021
Money market fund	$	10.3	$	10.3	$	—	$	—
Derivative assets	$	14.0	$	—	$	14.0	$	—
Derivative liabilities	$	191.0	$	—	$	191.0	$	—
Contingent consideration liability	$	187.0	$	—	$	—	$	187.0


(Millions of Dollars)	January 2, 2021		Net Additions		Usage		Currency		October 2, 2021
Severance and related costs	$	87.5	$	5.9	$	(49.9)	$	2.0	$	45.5
Facility closures and asset impairments	2.7		16.2		(15.3)		—		3.6
Total	$	90.2	$	22.1	$	(65.2)	$	2.0	$	49.1


(Millions of Dollars)	Term	Maximum Potential Payment		Carrying Amount of Liability
Guarantees on the residual values of leased assets	One to four years	$	89.6	$	—
Standby letters of credit	Up to three years	167.6		—
Commercial customer financing arrangements	Up to six years	67.4		8.4
Total		$	324.6	$	8.4


2021	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	Maximum Number Of Shares That May Yet Be Purchased Under The Program (b)
July 4 - August 7	11,538	$	203.44	—	20,000,000
August 8 - September 4	233	197.47		—	20,000,000
September 5 - October 2	2,378	181.53		—	20,000,000
Total	14,149	$	199.66	—	20,000,000


(10.1)			364-Day Credit Agreement, made as of September 8, 2021 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 14, 2021).

(10.2)			Amended and Restated Five Year Credit Agreement, made as of September 8, 2021 among Stanley Black & Decker, Inc., the initial lenders named therein and Citibank, N.A. as administrative agent for the lenders (incorporated by reference t o Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on September 14, 2021).

(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).

(32)(i)			Certification by Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

(ii)			Certification by 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.

(101)			The following materials from Stanley Black & Decker Inc.'s Quarterly Report on Form 10-Q for the quarter ended October 2, 2021, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended October 2, 2021 and September 26, 2020; (ii) Condensed Consolidated Balance Sheets at October 2, 2021 and January 2, 2021; (iii) Condensed Consolidated Statements of Cash Flows for the three and nine months ended October 2, 2021 and September 26, 2020; (iv) Consolidated Statements of Changes in Shareowners' Equity for the three and nine months ended October 2, 2021 and September 26, 2020; and (v) Notes to Unaudited Condensed Consolidated Financial Statements**.

(104)			The cover page of Stanley Black & Decker Inc.'s Quarterly Report on Form 10-Q for the quarter ended October 2, 2021, formatted in iXBRL (included within Exhibit 101 attachments).


**			Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.



Date:	November 12, 2021	/s/ James M. Loree
		James M. Loree
		Chief Executive Officer


(1)			The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and


(2)			The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.