Exhibit 12
THE STANLEY WORKS AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the six months ended June 28, 2008 and June 30, 2007 and fiscal years ended December 29, 2007,
December 30, 2006, December 31, 2005, January 1, 2005, and January 3, 2004
(Millions of Dollars)
Six Months Ended | Fiscal Year | ||||||||||||||||||||
2008 | 2007 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
Earnings from continuing operations before income taxes and minority interest | $ | 192.5 | $ | 201.6 | $ | 437.8 | $ | 352.6 | $ | 342.6 | $ | 311.7 | $ | 118.1 | |||||||
Add: | |||||||||||||||||||||
Interest expense | 40.9 | 42.5 | 85.2 | 69.3 | 40.4 | 38.6 | 34.1 | ||||||||||||||
Portion of rents representative of interest factor | 9.1 | 16.4 | 19.1 | 15.7 | 12.4 | 9.6 | 7.3 | ||||||||||||||
Income as adjusted | $ | 242.5 | $ | 260.5 | $ | 542.1 | $ | 437.6 | $ | 395.4 | $ | 359.9 | $ | 159.5 | |||||||
Fixed charges: | |||||||||||||||||||||
Interest expense | 40.9 | 42.5 | $ | 85.2 | $ | 69.3 | $ | 40.4 | $ | 38.6 | $ | 34.1 | |||||||||
Portion of rents representative of interest factor | 9.1 | 16.4 | 19.1 | 15.7 | 12.4 | 9.6 | 7.3 | ||||||||||||||
Fixed charges | $ | 50.0 | $ | 58.9 | $ | 104.3 | $ | 85.0 | $ | 52.8 | $ | 48.2 | $ | 41.4 | |||||||
Ratio of earnings to fixed charges | 4.9 | 4.4 | 5.2 | 5.1 | 7.5 | 7.5 | 3.9 | ||||||||||||||