EXHIBIT 12
THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars Except Ratios)
Three Months Ended Nine Months Ended
September 27, 1998 September 27, 1998
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EARNINGS:
Earnings (loss) before income taxes (Notes 1 and 2) $ 108.4 $ (773.3)
Interest expense 34.7 107.0
Portion of rent expense representative of an
interest factor 6.3 18.9
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Adjusted earnings (loss) before income taxes and
fixed charges $ 149.4 $ (647.4)
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FIXED CHARGES:
Interest expense $ 34.7 $ 107.0
Portion of rent expense representative
of an interest factor 6.3 18.9
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Total fixed charges $ 41.0 $ 125.9
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RATIO OF EARNINGS TO FIXED
CHARGES (DEFICIENCY)
(Notes 1, 2 and 3) 3.64 --
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<FN>
Note:
1. Included in earnings (loss) before income taxes for the nine
months ended September 27, 1998, are restructuring charges in
the amount of $154.2, a write-off of goodwill in the amount of
$900.0, and a gain on the sale of businesses of $63.4.
2. Included in earnings before income taxes for the three months
ended September 27, 1998, are restructuring charges in the
amount of $14.2 and a gain on the sale of businesses of $26.9.
3. Earnings (loss) before income taxes for the nine months ended
September 27, 1998, were insufficient to cover fixed charges
by the amount of $773.3.
</FN>