THE STANLEY WORKS AND SUBSIDIARIES
COMPUTATION OF EARNINGS TO FIXED CHARGES
(in Millions of Dollars)
Fiscal Year Ended
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December 29 December 30 January 1 January 2 January 3
2001 2000 2000 1999 1998
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Earnings (loss) before income taxes $236.7 $293.7 $230.8 $215.4 ($18.6)
Add:
Interest expense 31.9 34.3 32.9 30.5 24.2
Portion of rents representative
of interest factor 12.2 15.4 14.2 15.0 11.6
Amortization of expense on
long-term debt 0.4 0.2 0.2 0.3 0.2
Amortization of capitalized
interest - 0.1 0.2 0.2 0.3
Deduct:
Capitalized Interest (0.4) - - - -
-------------- --------------- ---------------- ------------- ------------
Income as adjusted $280.8 $343.7 $278.3 $261.4 $17.7
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Fixed charges:
Interest expense $31.9 $34.3 $32.9 $30.5 $24.2
Portion of rents representative of
interest factor 12.5 15.4 14.2 15.0 11.6
Amortization of expense
on long-term debt 0.4 0.2 0.2 0.3 0.2
Capitalized interest 0.4 - - - -
-------------- --------------- ---------------- ------------- ------------
Fixed charges $45.2 $49.9 $47.3 $45.8 $36.0
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Ratio of earnings to fixed charges 6.21 6.89 5.88 5.71 0.49
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