Stanley Black & Decker, Inc 10-Q for FY2022 Q2

Stanley Black & Decker, Inc. (SWK)

10-Q 2022-07-28 For: 2022-07-02

Added on April 06, 2026

About this 10-Q

Stanley Black & Decker, Inc filed this 10-Q on July 28, 2022, covering the quarter ended July 2, 2022 (FY2022 Q2).

Headline figures

Quarter ended July 2, 2022, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $4.39B; up 15.6% from $3.8B a year earlier
Net income: $87.6M; down 80.9% from net income of $459.5M a year earlier
Diluted EPS: $0.57; down 79.3% from $2.75 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			39
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK			51
ITEM 4. CONTROLS AND PROCEDURES			51
PART II — OTHER INFORMATION			54
ITEM 1. LEGAL PROCEEDINGS			54
ITEM 1A. RISK FACTORS			54
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS			54
ITEM 6. EXHIBITS			56
SIGNATURE			57


	Second Quarter				Year-to-Date
	2022		2021		2022		2021
Net Sales	$	4,393.0	$	3,798.9	$	8,841.0	$	7,519.7
Costs and Expenses
Cost of sales	$	3,185.9	$	2,437.1	$	6,328.5	$	4,770.1
Selling, general and administrative	849.4		772.0		1,798.6		1,488.9
Provision for credit losses	3.3		(4.9)		14.4		(2.7)
Other, net	79.1		42.5		141.1		90.5
(Gain) loss on sales of businesses	(0.2)		2.6		(0.2)		3.6
Asset impairment charge	168.4		—		168.4		—
Restructuring charges	19.5		10.4		72.2		12.2
Interest income	(6.5)		(2.7)		(9.3)		(5.6)
Interest expense	78.2		46.5		132.9		94.0
	$	4,377.1	$	3,303.5	$	8,646.6	$	6,451.0
Earnings from continuing operations before income taxes and equity interest	15.9		495.4		194.4		1,068.7
Income taxes on continuing operations	(62.8)		67.3		(39.9)		182.8
Net earnings from continuing operations before equity interest	78.7		428.1		234.3		885.9
Share of net earnings of equity method investment	—		4.4		—		6.2
Net earnings from continuing operations	78.7		432.5		234.3		892.1
Less: Net earnings (losses) attributable to non-controlling interests	0.1		(1.0)		0.2		(1.6)
Net earnings from continuing operations attributable to Stanley Black & Decker, Inc.	$	78.6	$	433.5	$	234.1	$	893.7
Less: Preferred stock dividends and beneficial conversion feature	—		4.8		—		14.2
Net Earnings from Continuing Operations Attributable to Common Shareowners	$	78.6	$	428.7	$	234.1	$	879.5
Add: Contract adjustment payments accretion	0.4		0.3		0.7		0.5
Net Earnings from Continuing Operations Attributable to Common Shareowners - Diluted	$	79.0	$	429.0	$	234.8	$	880.0
Earnings from discontinued operations before income taxes	6.4		32.4		28.6		63.5
Income taxes on discontinued operations	(2.6)		6.4		(0.2)		10.3
Net earnings from discontinued operations	$	9.0	$	26.0	$	28.8	$	53.2
Net Earnings Attributable to Common Shareowners - Diluted	$	88.0	$	455.0	$	263.6	$	933.2
Net Earnings Attributable to Stanley Black & Decker, Inc.	$	87.6	$	459.5	$	262.9	$	946.9
Total Comprehensive (Loss) Income Attributable to Common Shareowners	$	(190.1)	$	479.1	$	(42.5)	$	859.4
Basic earnings per share of common stock:
Continuing operations	$	0.54	$	2.70	$	1.56	$	5.56
Discontinued operations	$	0.06	$	0.16	$	0.19	$	0.34
Total basic earnings per share of common stock	$	0.60	$	2.87	$	1.75	$	5.90
Diluted earnings per share of common stock:
Continuing operations	$	0.51	$	2.60	$	1.47	$	5.34
Discontinued operations	$	0.06	$	0.16	$	0.18	$	0.32
Total diluted earnings per share of common stock	$	0.57	$	2.75	$	1.65	$	5.67


	July 2, 2022		January 1, 2022
ASSETS
Current Assets
Cash and cash equivalents	$	282.3	$	142.1
Accounts and notes receivable, net	1,592.1		1,481.7
Inventories, net	6,635.5		5,419.9
Current assets held for sale	851.0		869.6
Prepaid expenses	506.8		507.0
Other current assets	105.1		106.1
Total Current Assets	9,972.8		8,526.4
Property, plant and equipment, net	2,310.6		2,336.8
Goodwill	8,459.1		8,590.7
Customer Relationships, net	1,909.1		2,000.0
Trade Names, net	2,653.1		2,681.8
Other intangible Assets, net	10.5		13.2
Long-term assets held for sale	2,564.2		2,635.8
Other assets	1,482.0		1,395.3
Total Assets	$	29,361.4	$	28,180.0
LIABILITIES AND SHAREOWNERS' EQUITY
Current Liabilities
Short-term borrowings	$	5,833.0	$	2,241.1
Current maturities of long-term debt	1.2		1.3
Accounts payable	3,138.8		3,423.6
Accrued expenses	2,304.2		2,641.0
Liabilities held for sale	483.5		460.4
Total Current Liabilities	11,760.7		8,767.4
Long-term debt	5,351.8		4,353.6
Deferred taxes	625.9		711.2
Post-retirement benefits	432.5		474.1
Long-term liabilities held for sale	137.1		137.4
Other liabilities	1,971.5		2,143.9
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 2022 and 2021 Issued and outstanding 750,000 shares in 2022 and 2021	620.3		620.3
Common stock, par value $2.50 per share: Authorized 300,000,000 shares in 2022 and 2021 Issued 176,902,738 shares in 2022 and 2021	442.3		442.3
Retained earnings	8,775.0		8,742.4
Additional paid in capital	5,027.3		4,999.2
Accumulated other comprehensive loss	(2,151.0)		(1,845.6)
	12,713.9		12,958.6
Less: cost of common stock in treasury (29,101,258 shares in 2022 and 13,964,054 shares in 2021)	(3,634.1)		(1,368.1)
Stanley Black & Decker, Inc. Shareowners’ Equity	9,079.8		11,590.5
Non-controlling interests	2.1		1.9
Total Shareowners’ Equity	9,081.9		11,592.4
Total Liabilities and Shareowners’ Equity	$	29,361.4	$	28,180.0


	July 2, 2022		January 1, 2022
Cash and cash equivalents	$	282.3	$	142.1
Restricted cash included in Other current assets	6.1		7.6
Cash and cash equivalents included in Current assets held for sale	19.7		145.1
Cash, cash equivalents and restricted cash	$	308.1	$	294.8


	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
Balance April 2, 2022	$	620.3	$	442.3	$	4,705.5	$	8,801.4	$	(1,873.3)	$	(3,343.4)	$	2.0	$	9,354.8
Net earnings	—		—		—		87.6		—		—		0.1		87.7
Other comprehensive loss	—		—		—		—		(277.7)		—		—		(277.7)
Cash dividends declared — $0.79 per common share	—		—		—		(114.0)		—		—		—		(114.0)
Issuance of common stock (83,264 shares)	—		—		(4.4)		—		—		10.3		—		5.9
Repurchase of common stock (3,219,632 shares)	—		—		299.9		—		—		(301.0)		—		(1.1)
Stock-based compensation related	—		—		26.3		—		—		—		—		26.3
Balance July 2, 2022	$	620.3	$	442.3	$	5,027.3	$	8,775.0	$	(2,151.0)	$	(3,634.1)	$	2.1	$	9,081.9


(Millions of Dollars)	July 2, 2022		January 1, 2022
Trade accounts receivable	$	1,522.0	$	1,398.2
Trade notes receivable	69.6		75.3
Other accounts receivable	102.7		104.1
Gross accounts and notes receivable	$	1,694.3	$	1,577.6
Allowance for credit losses	(102.2)		(95.9)
Accounts and notes receivable, net	$	1,592.1	$	1,481.7


(Millions of Dollars)
Cash and cash equivalents	$	111.6
Accounts receivable, net	275.1
Inventories, net	897.0
Prepaid expenses and other assets	97.7
Property, plant and equipment	258.7
Trade names	390.0
Customer relationships	460.0
Other assets	37.8
Accounts payable	(394.4)
Accrued expenses	(261.2)
Deferred revenue	(0.9)
Long-term debt	(110.9)
Deferred taxes	(205.4)
Other liabilities	(68.4)
Total identifiable net assets	$	1,486.7
Goodwill	450.0
Total consideration	$	1,936.7


(Millions of Dollars, except per share amounts)	Second Quarter				Year-To-Date
	2022		2021		2022		2021
Net sales	$	4,393.0	$	4,672.8	$	8,841.0	$	9,267.6
Net earnings from continuing operations attributable to common shareowners - Diluted	$	107.4	$	451.8	$	350.3	$	927.6
Diluted earnings per share of common stock - Continuing operations	$	0.69	$	2.74	$	2.19	$	5.63


(Millions of Dollars)	Tools & Outdoor		Industrial		Total
Balance January 1, 2022	$	5,973.7	$	2,617.0	$	8,590.7
Reclassification to assets held for sale	—		(39.5)		(39.5)
Acquisitions	46.5		—		46.5
Foreign currency translation	(115.8)		(22.8)		(138.6)
Balance July 2, 2022	$	5,904.4	$	2,554.7	$	8,459.1


(Millions of Dollars)	Balance Sheet Classification	July 2, 2022		January 1, 2022		Balance Sheet Classification	July 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	18.7		18.3		Accrued expenses	—		0.8
Net Investment Hedge	Other current assets	1.1		2.5		Accrued expenses	—		—
	LT other assets	—		3.3		LT other liabilities	—		—
Total designated as hedging		$	19.8	$	25.3		$	—	$	2.7
Derivatives not designated as hedging instruments:
Foreign Exchange Contracts	Other current assets	$	9.5	$	7.8	Accrued expenses	$	8.5	$	6.0
Total		$	29.3	$	33.1		$	8.5	$	8.7


	Second Quarter 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	$	—	Interest expense	$	(1.5)	$	—
Foreign Exchange Contracts	$	16.9	Cost of sales	$	7.2	$	—


	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	$	(2.7)	$	—
Foreign Exchange Contracts	$	23.4	Cost of sales	$	13.3	$	—


	Second 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	$	(25.0)	Interest expense	$	(1.0)	$	—
Foreign Exchange Contracts	$	3.9	Cost of sales	$	(7.6)	$	—


STANLEY BLACK & DECKER, INC.


	Second Quarter				Year-to-Date
	2022		2021		2022		2021
OPERATING ACTIVITIES
Net earnings from continuing operations	$	78.7	$	432.5	$	234.3	$	892.1
Net earnings from discontinued operations	9.0		26.0		28.8		53.2
Adjustments to reconcile net earnings to cash (used in) provided by operating activities:
Depreciation and amortization of property, plant and equipment	91.9		91.9		183.9		185.4
Amortization of intangibles	51.5		50.5		103.2		101.0
(Gain) loss on sales of businesses	(0.2)		2.6		(0.2)		3.6
Asset impairment charge	168.4		—		168.4		—
Share of net earnings of equity method investment	—		(4.4)		—		(6.2)
Changes in working capital	(568.0)		(196.4)		(1,904.1)		(916.8)
Changes in other assets and liabilities	(275.2)		41.7		(499.3)		(25.7)
Cash (used in) provided by operating activities	(443.9)		444.4		(1,685.0)		286.6
INVESTING ACTIVITIES
Capital and software expenditures	(145.7)		(105.1)		(285.5)		(193.4)
Proceeds from sales of assets	6.2		4.1		15.2		5.4
Business acquisitions, net of cash acquired	(9.1)		(1.3)		(45.6)		(1.5)
Purchases of investments	(9.2)		(4.0)		(9.3)		(11.0)
Net investment hedge settlements	4.2		—		8.9		(52.6)
Other	(0.7)		(2.5)		(1.4)		(3.6)
Cash used in investing activities	(154.3)		(108.8)		(317.7)		(256.7)
FINANCING ACTIVITIES
Proceeds from debt issuances, net of fees	(2.2)		—		992.6		—
Stock purchase contract fees	(9.8)		(9.8)		(19.6)		(19.6)
Net short-term borrowings	746.6		1.8		3,591.4		1.1
Proceeds from issuances of common stock	5.9		36.3		19.6		100.4
Purchases of common stock for treasury	(1.1)		(2.4)		(2,314.1)		(17.3)
Redemption of preferred stock for treasury	—		(750.0)		—		(750.0)
Craftsman contingent consideration	(11.3)		(6.9)		(21.1)		(13.9)
Termination of interest rate swaps	—		—		22.7		—
Cash dividends on common stock	(114.0)		(111.6)		(230.3)		(221.7)
Cash dividends on preferred stock	—		(9.5)		—		(18.9)
Other	(5.9)		(1.2)		(7.6)		(8.4)
Cash provided by (used in) financing activities	608.2		(853.3)		2,033.6		(948.3)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(22.4)		8.5		(17.6)		(30.4)
Change in cash, cash equivalents and restricted cash	(12.4)		(509.2)		13.3		(948.8)
Cash, cash equivalents and restricted cash, beginning of period	320.5		958.7		294.8		1,398.3
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	$	308.1	$	449.5	$	308.1	$	449.5


	Second Quarter		Year-to-Date
	2022	2021	2022	2021
Denominator (in thousands):
Basic weighted-average shares outstanding	145,353	158,644	150,385	158,081
Dilutive effect of stock contracts and awards	9,461	6,543	9,742	6,653
Diluted weighted-average shares outstanding	154,814	165,187	160,127	164,734


(Millions of Dollars)	July 2, 2022		January 1, 2022
Finished products	$	4,114.7	$	3,486.2
Work in process	456.3		394.8
Raw materials	2,064.5		1,538.9
Total	$	6,635.5	$	5,419.9


	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	$	27.4	Interest expense	$	(2.1)	$	—
Foreign Exchange Contracts	$	8.2	Cost of sales	$	(11.4)	$	—


(Millions of Dollars)	Second Quarter 2022 Interest Expense		Year-to-Date 2022 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	$	78.2	$	132.9
Amortization of gain on terminated swaps	$	(0.1)	$	(0.2)


(Millions of Dollars)	Second Quarter 2021 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	$	46.5	$	94.0
Amortization of gain on terminated swaps	$	(0.1)	$	(0.2)


	July 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	$	533.4	Terminated Swaps	$	(20.3)


	Second Quarter 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	$	2.5	$	—	Other, net	$	0.2	$	0.2
Cross Currency Swap	$	(0.6)	$	—	Other, net	$	—	$	—

Non-derivative designated as Net Investment Hedge	$	—	$	—	Other, net	$	—	$	—


(Millions of Dollars)	Income Statement Classification	Second Quarter 2022		Year-to-Date 2022		Second Quarter 2021		Year-to-Date 2021
Foreign Exchange Contracts	Other, net	$	7.0	$	7.9	$	(7.4)	$	(23.5)


(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	(359.3)		32.5		3.0		19.2		(304.6)
Reclassification adjustments to earnings	—		(4.7)		(1.7)		5.6		(0.8)
Net other comprehensive (loss) income	(359.3)		27.8		1.3		24.8		(305.4)
Balance - July 2, 2022	$	(1,902.3)	$	(22.0)	$	73.1	$	(299.8)	$	(2,151.0)


	Second Quarter
	Pension Benefits								Other Benefits
	U.S. Plans				Non-U.S. Plans				All Plans
(Millions of Dollars)	2022		2021		2022		2021		2022		2021
Service cost	$	1.2	$	1.5	$	3.6	$	4.4	$	—	$	—
Interest cost	8.7		5.8		5.7		4.3		0.6		0.3
Expected return on plan assets	(15.1)		(13.7)		(9.5)		(10.3)		—		—
Amortization of prior service cost (credit)	0.2		0.3		(0.2)		(0.2)		—		(0.1)
Amortization of net loss (gain)	1.8		2.2		2.0		3.5		(0.1)		—
Settlement / curtailment loss	—		—		0.2		—		—		—
Special termination benefit	—		—		—		—		6.9		—
Net periodic pension (benefit) expense	$	(3.2)	$	(3.9)	$	1.8	$	1.7	$	7.4	$	0.2


(Millions of Dollars)	Total Carrying Value		Level 1		Level 2		Level 3
July 2, 2022
Money market fund	$	10.9	$	10.9	$	—	$	—
Equity Security	$	6.4	$	6.4	$	—	$	—
Deferred compensation plan investments	$	19.3	$	19.3	$	—	$	—
Derivative assets	$	29.3	$	—	$	29.3	$	—
Derivative liabilities	$	8.5	$	—	$	8.5	$	—
Contingent consideration liability	$	284.7	$	—	$	—	$	284.7
January 1, 2022
Money market fund	$	11.0	$	11.0	$	—	$	—
Equity Security	$	13.8	$	13.8	$	—	$	—
Deferred compensation plan investments	$	26.2	$	26.2	$	—	$	—
Derivative assets	$	33.1	$	—	$	33.1	$	—
Derivative liabilities	$	8.7	$	—	$	8.7	$	—
Contingent consideration liability	$	288.6	$	—	$	—	$	288.6


(Millions of Dollars)	January 1, 2022		Net Additions		Usage		Currency		July 2, 2022
Severance and related costs	$	28.2	$	64.6	$	(43.5)	$	2.1	$	51.4
Facility closures and asset impairments	3.5		7.6		(8.6)		0.1		2.6
Total	$	31.7	$	72.2	$	(52.1)	$	2.2	$	54.0


(Millions of Dollars)	Term	Maximum Potential Payment		Carrying Amount of Liability
Guarantees on the residual values of leased assets	One to five years	$	85.4	$	—
Standby letters of credit	Up to three years	201.6		—
Commercial customer financing arrangements	Up to six years	72.5		11.2
Total		$	359.5	$	11.2


	(Millions of Dollars)	GAAP		Acquisition- Related Charges & Other		Non-GAAP
	Gross profit	$	1,207.1	$	16.6	$	1,223.7
	Selling, general and administrative1	852.7		(32.9)		819.8
	Operating profit	354.4		49.5		403.9
	Earnings from continuing operations before income taxes and equity interest	15.9		248.1		264.0
	Income taxes on continuing operations	(62.8)		52.5		(10.3)
	Net Earnings from Continuing Operations Attributable to Common Shareowners - Diluted	79.0		195.6		274.6
	Diluted earnings per share of common stock - Continuing operations	$	0.51	$	1.26	$	1.77
1	Includes provision for credit losses


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 Number Of Shares That May Yet Be Purchased Under The Program (b)
April 3 - May 7	3,218,643	$	143.18	3,211,317	20
May 8 - June 4	—	—		—	20
June 5 - July 2	—	—		—	20
Total	3,218,643	$	143.18	3,211,317	20


(10.1)			Letter Agreement dated May 31, 2022, between Stanley Black & Decker, Inc. and Donald Allan, Jr. (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on June 1, 2022).

(10.2)			Stanley Black & Decker 2022 Omnibus Award Plan (incorporated by reference to Exhibit 99.1 to the Registration Statement on Form S-8 filed on April 5, 2022).

(10.3)			Stanley Black & Decker Supplemental Retirement Account Plan (As In Effect January 1, 2019) (filed herewith).*

(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 President and Chief Executive Officer pursuant to Rule 13a-14(a).

(i)(b)			Certification by Interim Chief Financial Officer pursuant to Rule 13a-14(a).

(32)(i)			Certification 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.

(ii)			Certification by Interim 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 July 2, 2022, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended July 2, 2022 and July 3, 2021; (ii) Condensed Consolidated Balance Sheets at July 2, 2022 and January 1, 2022; (iii) Condensed Consolidated Statements of Cash Flows for the three and six months ended July 2, 2022 and July 3, 2021; (iv) Consolidated Statements of Changes in Shareowners' Equity for the three and six months ended July 2, 2022 and July 3, 2021; 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 July 2, 2022, formatted in iXBRL (included within Exhibit 101 attachments).


*			Management contract or compensation plan or arrangement.
**			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.



/s/ Joseph Voelker
Joseph Voelker
SVP Human Resources
Date: December 19, 2018


Participant’s Age on December 31 of the Plan Year			Percentage of Compensation for Plan Year
Under 40			2%
40-54			4%
55 or older			6%


(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.


/s/ Donald Allan, Jr.
Donald Allan, Jr.
President & Chief Executive Officer
Date: July 28, 2022