ITEM 6. SELECTED FINANCIAL DATA
FIVE-YEAR SUMMARY (a)(b)
(DOLLARS IN MILLIONS EXCEPT PER SHARE DATA)
2009
(c) 2008
(d) 2007 (e) 2006
2005 (f)
Sales $ 4,775.1 $ 6,086.1 $ 6,563.2 $ 6,447.3 $ 6,523.7
Net earnings from continuing operations 132.5 293.6 518.1 486.1 532.2
Loss from discontinued operations (g) — — — — (.1)
Net earnings 132.5 293.6 518.1 486.1 532.1
Net earnings per common share – basic 2.18 4.83 7.96 6.67 6.68
Net earnings per common share – assuming dilution 2.17 4.77 7.78 6.51 6.51
Total assets 5,495.2 5,183.3 5,410.9 5,247.7 5,842.4
Long-term debt 1,715.0 1,444.7 1,179.1 1,170.3 1,030.3
Cash dividends per common share .78 1.68 1.68 1.52 1.12
(a) The Corporation adopted a new accounting standard effective January 1, 2009, that clarifies whether instruments granted in
share-based payment transactions should be included in the computation of earnings per share using the two-class method prior
to vesting, and, as required, retrospectively adjusted basic and diluted earnings per share for all prior periods to reflect the
adoption of that standard.
(b) The Corporation adopted a new accounting standard effective January 1, 2006, for the recognition of stock-based compensation
expense using the modified retrospective method of adoption whereby the Corporation restated all prior periods presented based
on amounts previously recognized for purposes of pro forma disclosures. Amounts in this five-year summary for 2005 reflect
such restated amounts.
(c) Earnings from continuing operations for 2009 includes a restructuring charge of $11.9 million before taxes ($8.4 million after
taxes). In addition, earnings from continuing operations for 2009 includes merger-related expenses of $58.8 million ($42.6
million after taxes) relating to the Corporation’s proposed merger with The Stanley Works.
(d) Earnings from continuing operations for 2008 includes a restructuring charge of $54.7 million before taxes ($39.6 million after
taxes).
(e) Earnings from continuing operations for 2007 includes a favorable $153.4 million settlement of tax litigation. In addition,
earnings from continuing operations for 2007 includes a charge for an environmental remediation matter of $31.7 million before
taxes ($20.6 million after taxes) and a restructuring charge of $19.0 million before taxes ($12.8 million after taxes).
(f) Earnings from continuing operations for 2005 includes a favorable $55.0 million before taxes ($35.8 million after taxes)
settlement of environmental and product liability coverage litigation with an insurer. In addition, earnings from continuing
operations for 2005 includes $51.2 million of incremental tax expense resulting from the repatriation of $888.3 million of foreign
earnings under the American Jobs Creation Act of 2004.
(g) Loss from discontinued operations represents the loss, net of applicable income taxes, of the Corporation’s discontinued
European security hardware business.
18
Source: BLACK & DECKER CORP, 10-K, February 19, 2010 Powered by Morningstar
®
Document Research℠
(16 pages)
(2 pages)
Manymanuals.com
Manymanuals.de
Manymanuals.fr
Manymanuals.it
Manymanuals.pl
Manymanuals.cz
Manymanuals.es
Manymanuals-pt.com
Commentaires sur ces manuels