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 fiscal years ended December 31, 2016, January 2, 2016, January 3, 2015,

December 28, 2013 and December 29, 2012 and the three months ended April 1, 2017

(Millions of Dollars)

	Three Months Ended April 1		Fiscal Year
	2017		2016		2015		2014		2013		2012
Earnings from continuing operations before income taxes andnon-controlling interest	$	472.7	$	1,226.1	$	1,150.8	$	1,084.8	$	587.6	$	533.1
Add:
Interest expense		51.3		194.5		180.4		177.2		160.1		144.0
Portion of rents representative of interest factor		3.4		12.6		12.0		13.6		14.6		14.4
Income as adjusted		527.4	$	1,433.2	$	1,343.2	$	1,275.6	$	762.3	$	691.5
Fixed charges:
Interest expense		51.3	$	194.5	$	180.4	$	177.2	$	160.1	$	144.0
Portion of rents representative of interest factor		3.4		12.6		12.0		13.6		14.6		14.4
Fixed charges		54.7	$	207.1	$	192.4	$	190.8	$	174.7	$	158.4
Ratio of earnings to fixed charges		9.6		6.9		7.0		6.7		4.4		4.4