Stanley Black & Decker (SWK) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

For the nine months ended September 29, 2012 and the fiscal years ended December 31,

2011, January 1, 2011, January 2, 2010, and January 3, 2009

(Millions of Dollars)

	Fiscal Year
	2012		2011		2010		2009		2008
Earnings from continuing operations before income taxes and non-controlling interest	$	507.3		779.8	$	239.8	$	282.6	$	285.4
Add:
Interest expense		105.1		140.3		109.9		63.7		92.0
Portion of rents representative of interest factor		12.0		16.2		17.9		6.2		8.6
Distributed income of equity investees		—		2.8		3.5		—		—
Income as adjusted	$	624.4		939.1	$	371.1	$	352.5	$	386.0
Fixed charges:
Interest expense	$	105.1	$	140.3	$	109.9	$	63.7	$	92.0
Portion of rents representative of interest factor		12.0		16.2		17.9		6.2		8.6
Fixed charges	$	117.1	$	156.5	$	127.8	$	69.9	$	100.6
Ratio of earnings to fixed charges		5.3		6.0		2.9		5.0		3.8

COMPUTATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES

AFTER ADJUSTMENT FOR ISSUANCE OF DEBENTURES

For the nine months ended September 29, 2012 and the fiscal year ended December 31, 2011

(Millions of Dollars)

	2012		2011
Earnings from continuing operations before income taxes and non-controlling interest	$	507.3		779.8
Fixed charges, as above		117.1		156.5
Adjustments:
Estimated net increase in interest expense from refinancing		15.8		22.0
Total Pro Forma Fixed charges	$	132.9	$	178.5
Pro forma ratio of earnings to fixed charges		4.7		5.3