8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   April 16, 2007



THE BLACK & DECKER CORPORATION
(Exact name of registrant as specified in its charter)

Maryland
(State or other jurisdiction
  of incorporation) 1-1553
(Commission File Number) 52-0248090
(IRS Employer
 Identification No.)

701 East Joppa Road, Towson, Maryland
(Address of principal executive offices)   21286
(Zip Code)

Registrant's telephone number, including area code   410-716-3900

Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]
[ ]
[ ]
[ ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act  (17 CFR 240.14d-2(b))
 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act   (17 CFR 240.13e-4(c))

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ITEM 8.01 OTHER EVENTS.

As more fully described in Note 18 of Notes to Consolidated Financial Statements included in Item 8 of the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2006 (Note 18), the Corporation assesses the performance of its reportable business segments based upon a number of factors, including segment profit. For segment reporting purposes, elements of segment profit and certain other segment data are translated using budgeted rates of exchange. Budgeted rates of exchange are established annually and, once established, all prior period segment data is restated to reflect the translation of elements of segment profit and certain other segment data at the current year’s budgeted rates of exchange. Amounts included in the first table of Note 18 under the captions “Reportable Business Segments” and “Corporate, Adjustments, & Eliminations” are reflected at the Corporation’s budgeted rates of exchange for 2006. The amounts included in that table under the caption “Currency Translation Adjustments” represent the difference between consolidated amounts determined using the budgeted rates of exchange for 2006 and those determined based upon the rates of exchange applicable under accounting principles generally accepted in the United States.

The Corporation has established budgeted rates of exchange for 2007 and, accordingly, segment data for prior periods has been updated to reflect the translation of elements of segment profit and certain other segment data at the budgeted rates of exchange for 2007.

For informational purposes, the Corporation has included as Exhibit 99 to this Current Report on Form 8-K selected unaudited supplemental information about its business segments for 2006, 2005, and 2004 updated to reflect the translation of elements of segment profit and certain other segment data at the budgeted rates of exchange for 2007.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit 99 Selected unaudited supplemental information about the Corporation’s business segments for each of the three years in the period ended December 31, 2006, and for each of the quarters in the years ended December 31, 2006 and 2005.

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THE BLACK & DECKER CORPORATION

S I G N A T U R E S

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE BLACK & DECKER CORPORATION


By: /s/ CHRISTINA M. MCMULLEN                  
        Christina M. McMullen
        Vice President and Controller

Date: April 16, 2007

EX-99

EXHIBIT 99

THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION ABOUT BUSINESS SEGMENTS (Unaudited)
(Millions of Dollars)

	Reportable Business Segments
Year Ended December 31, 2006	Power     Tools & Accessories			Hardware      & Home Improvement			Fastening  & Assembly     Systems			Total			Currency  Translation  Adjustments			Corporate,   Adjustments, & Eliminations			Consolidated
Sales to unaffiliated customers	$	4,789	.9	$	1,009	.2	$	669	.3	$	6,468	.4	$	(21	.1)	$	–		$	6,447	.3
Segment profit (loss) (for
Consolidated, operating income)		576	.1		136	.9		96	.1		809	.1		(1	.9)		(66	.8)		740	.4
Depreciation and amortization		111	.4		22	.9		18	.9		153	.2		(	.5)		2	.2		154	.9
Capital expenditures		72	.8		14	.0		16	.7		103	.5		(	.3)		1	.4		104	.6
Year Ended December 31, 2005
Sales to unaffiliated customers	$	4,875	.4	$	1,025	.6	$	665	.6	$	6,566	.6	$	(42	.9)	$	–		$	6,523	.7
Segment profit (loss) (for
Consolidated, operating income)		641	.4		145	.4		95	.3		882	.1		(4	.6)		(82	.6)		794	.9
Depreciation and amortization		104	.0		25	.6		18	.8		148	.4		(1	.3)		3	.5		150	.6
Capital expenditures		82	.0		12	.9		15	.7		110	.6		(1	.3)		1	.8		111	.1
Year Ended December 31, 2004
Sales to unaffiliated customers	$	3,890	.8	$	975	.7	$	622	.9	$	5,489	.4	$	(91	.0)	$	–		$	5,398	.4
Segment profit (loss) (for
Consolidated, operating income)		494	.3		147	.8		84	.8		726	.9		(11	.4)		(102	.3)		613	.2
Depreciation and amortization		91	.5		27	.2		17	.5		136	.2		(2	.7)		9	.0		142	.5
Capital expenditures		80	.3		25	.9		14	.1		120	.3		(3	.5)		1	.0		117	.8

        The reconciliation of segment profit to the Corporation’s earnings from continuing operations before income taxes for each of the three years in the period ended December 31, 2006, in millions of dollars, is as follows:

	Year Ended December 31,
	2006			2005			2004
Segment profit for total reportable business segments	$	809	.1	$	882	.1	$	726	.9
Items excluded from segment profit:
Adjustment of budgeted foreign exchange rates to
actual rates		(1	.9)		(4	.6)		(11	.4)
Depreciation of Corporate property		(	.9)		(1	.0)		(1	.2)
Adjustment to businesses' postretirement benefit
expenses booked in consolidation		(25	.2)		(13	.8)			.8
Other adjustments booked in consolidation directly
related to reportable business segments		(	.2)		3	.3		(10	.0)
Amounts allocated to businesses in arriving at segment
profit in excess of (less than) Corporate center operating
expenses, eliminations, and other amounts identified above		(40	.5)		(71	.1)		(91	.9)
Operating income		740	.4		794	.9		613	.2
Interest expense, net of interest income		73	.8		45	.4		22	.1
Other expense (income)		2	.2		(51	.6)		2	.8
Earnings from continuing operations before income taxes	$	664	.4	$	801	.1	$	588	.3

	Reportable Business Segments
Quarter Ended April 2, 2006	Power     Tools & Accessories			Hardware      & Home Improvement			Fastening  & Assembly     Systems			Total			Currency  Translation  Adjustments			Corporate,   Adjustments, & Eliminations			Consolidated
Sales to unaffiliated customers	$	1,125	.6	$	251	.9	$	171	.0	$	1,548	.5	$	(19	.6)	$	–		$	1,528	.9
Segment profit (loss) (for
Consolidated, operating income)		138	.3		33	.6		24	.3		196	.2		(2	.1)		(25	.9)		168	.2
Depreciation and amortization		26	.6		5	.8		4	.7		37	.1		(	.4)			.7		37	.4
Capital expenditures		19	.9		1	.6		2	.7		24	.2		(	.3)		–			23	.9
Quarter Ended July 2, 2006
Sales to unaffiliated customers	$	1,266	.8	$	261	.8	$	174	.2	$	1,702	.8	$	(5	.9)	$	–		$	1,696	.9
Segment profit (loss) (for
Consolidated, operating income)		177	.8		41	.4		26	.1		245	.3		(	.5)		(18	.5)		226	.3
Depreciation and amortization		26	.4		6	.4		4	.9		37	.7		(	.3)			.4		37	.8
Capital expenditures		18	.7		3	.5		3	.2		25	.4		(	.1)			.1		25	.4
Quarter Ended October 1, 2006
Sales to unaffiliated customers	$	1,197	.9	$	252	.5	$	159	.7	$	1,610	.1	$		.1	$	–		$	1,610	.2
Segment profit (loss) (for
Consolidated, operating income)		145	.4		35	.6		22	.6		203	.6			.2		(11	.3)		192	.5
Depreciation and amortization		30	.1		6	.1		4	.7		40	.9		–				.6		41	.5
Capital expenditures		19	.3		4	.4		3	.1		26	.8		–				.1		26	.9
Quarter Ended December 31, 2006
Sales to unaffiliated customers	$	1,199	.6	$	243	.0	$	164	.4	$	1,607	.0	$	4	.3	$	–		$	1,611	.3
Segment profit (loss) (for
Consolidated, operating income)		114	.6		26	.3		23	.1		164	.0			.5		(11	.1)		153	.4
Depreciation and amortization		28	.3		4	.6		4	.6		37	.5			.2			.5		38	.2
Capital expenditures		14	.9		4	.5		7	.7		27	.1			.1		1	.2		28	.4
Quarter Ended April 3, 2005
Sales to unaffiliated customers	$	1,102	.8	$	243	.6	$	167	.4	$	1,513	.8	$	5	.5	$	–		$	1,519	.3
Segment profit (loss) (for
Consolidated, operating income)		132	.8		29	.7		24	.2		186	.7		1	.6		(30	.0)		158	.3
Depreciation and amortization		25	.8		6	.3		4	.7		36	.8			.1		1	.8		38	.7
Capital expenditures		18	.7		5	.4		2	.5		26	.6		(	.2)			.2		26	.6
Quarter Ended July 3, 2005
Sales to unaffiliated customers	$	1,255	.5	$	278	.9	$	168	.9	$	1,703	.3	$	(4	.5)	$	–		$	1,698	.8
Segment profit (loss) (for
Consolidated, operating income)		178	.4		39	.6		22	.5		240	.5		(	.6)		(22	.6)		217	.3
Depreciation and amortization		26	.9		6	.0		4	.6		37	.5		–				.2		37	.7
Capital expenditures		21	.8		3	.2		3	.3		28	.3		(	.2)			.1		28	.2
Quarter Ended October 2, 2005
Sales to unaffiliated customers	$	1,180	.5	$	254	.6	$	161	.0	$	1,596	.1	$	(20	.5)	$	–		$	1,575	.6
Segment profit (loss) (for
Consolidated, operating income)		156	.5		42	.7		20	.8		220	.0		(2	.8)		(17	.5)		199	.7
Depreciation and amortization		26	.7		5	.6		4	.7		37	.0		(	.6)			.3		36	.7
Capital expenditures		19	.0		3	.6		3	.6		26	.2		(	.3)			.4		26	.3
Quarter Ended December 31, 2005
Sales to unaffiliated customers	$	1,336	.6	$	248	.5	$	168	.3	$	1,753	.4	$	(23	.4)	$	–		$	1,730	.0
Segment profit (loss) (for
Consolidated, operating income)		173	.7		33	.4		27	.8		234	.9		(2	.8)		(12	.5)		219	.6
Depreciation and amortization		24	.6		7	.7		4	.8		37	.1		(	.8)		1	.2		37	.5
Capital expenditures		22	.5			.7		6	.3		29	.5		(	.6)		1	.1		30	.0

        The reconciliation of segment profit to the Corporation’s earnings from continuing operations before income taxes for each of the quarters in the years ended December 31, 2006 and 2005, in millions of dollars, is as follows:

	Quarter Ended
	April 2, 2006			July 2,     2006			October 1, 2006			December 31,         2006
Segment profit for total reportable business segments	$	196	.2	$	245	.3	$	203	.6	$	164	.0
Items excluded from segment profit:
Adjustment of budgeted foreign exchange rates to
actual rates		(2	.1)		(	.5)			.2			.5
Depreciation of Corporate property		(	.2)		(	.3)		(	.2)		(	.2)
Adjustment to businesses' postretirement benefit
expenses booked in consolidation		(6	.2)		(6	.3)		(6	.4)		(6	.3)
Other adjustments booked in consolidation directly
related to reportable business segments		(2	.3)		(2	.0)		5	.6		(1	.5)
Amounts allocated to businesses in arriving at segment
profit in excess of (less than) Corporate center operating
expenses, eliminations, and other amounts identified above		(17	.2)		(9	.9)		(10	.3)		(3	.1)
Operating income		168	.2		226	.3		192	.5		153	.4
Interest expense, net of interest income		13	.7		17	.5		20	.7		21	.9
Other expense		–				.9			.9			.4
Earnings from continuing operations before income taxes	$	154	.5	$	207	.9	$	170	.9	$	131	.1

	Quarter Ended
	April 3, 2005			July 3,     2005			October 2, 2005			December 31,         2005
Segment profit for total reportable business segments	$	186	.7	$	240	.5	$	220	.0	$	234	.9
Items excluded from segment profit:
Adjustment of budgeted foreign exchange rates to
actual rates		1	.6		(	.6)		(2	.8)		(2	.8)
Depreciation of Corporate property		(	.2)		(	.2)		(	.3)		(	.3)
Adjustment to businesses' postretirement benefit
expenses booked in consolidation		(3	.9)		(3	.8)		(3	.4)		(2	.7)
Other adjustments booked in consolidation directly
related to reportable business segments		(	.8)		(	.8)		6	.1		(1	.2)
Amounts allocated to businesses in arriving at segment
profit in excess of (less than) Corporate center operating
expenses, eliminations, and other amounts identified above		(25	.1)		(17	.8)		(19	.9)		(8	.3)
Operating income		158	.3		217	.3		199	.7		219	.6
Interest expense, net of interest income		9	.2		9	.8		12	.6		13	.8
Other (income) expense		(53	.5)		1	.3		(	.7)		1	.3
Earnings from continuing operations before income taxes	$	202	.6	$	206	.2	$	187	.8	$	204	.5

BASIS OF PRESENTATION:

The Corporation operates in three reportable business segments: Power Tools and Accessories, Hardware and Home Improvement, and Fastening and Assembly Systems. The Power Tools and Accessories segment has worldwide responsibility for the manufacture and sale of consumer and industrial power tools and accessories, lawn and garden tools, and electric cleaning, automotive, and lighting products, as well as for product service. In addition, the Power Tools and Accessories segment has responsibility for the sale of security hardware to customers in Mexico, Central America, the Caribbean, and South America; for the sale of plumbing products to customers outside the United States and Canada; and for sales of household products. On March 1, 2006, the Corporation acquired Vector Products, Inc. On October 2, 2004, the Corporation acquired the Porter-Cable and Delta Tools Group from Pentair, Inc. These acquired businesses are included in the Power Tools and Accessories segment. The Hardware and Home Improvement segment has worldwide responsibility for the manufacture and sale of security hardware (except for the sale of security hardware in Mexico, Central America, the Caribbean, and South America). The Hardware and Home Improvement segment also has responsibility for the manufacture of plumbing products and for the sale of plumbing products to customers in the United States and Canada. The Fastening and Assembly Systems segment has worldwide responsibility for the manufacture and sale of fastening and assembly systems. Sales, segment profit, depreciation and amortization, and capital expenditures set forth in the preceding tables exclude the results of the discontinued operations.

The profitability measure employed by the Corporation and its chief operating decision maker for making decisions about allocating resources to segments and assessing segment performance is segment profit (for the Corporation on a consolidated basis, operating income). In general, segments follow the same accounting policies as those described in Note 1 of Notes to Consolidated Financial Statements included in Item 8 of the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2006, except with respect to foreign currency translation and except as further indicated below. The financial statements of a segment’s operating units located outside of the United States, except those units operating in highly inflationary economies, are generally measured using the local currency as the functional currency. For these units located outside of the United States, segment assets and elements of segment profit are translated using budgeted rates of exchange. Budgeted rates of exchange are established annually and, once established, all prior period segment data is restated to reflect the current year’s budgeted rates of exchange. The amounts included in the preceding table under the captions “Reportable Business Segments” and “Corporate, Adjustments, & Eliminations” are reflected at the Corporation’s budgeted rates of exchange for 2007. The amounts included in the preceding table under the caption “Currency Translation Adjustments” represent the difference between consolidated amounts determined using those budgeted rates of exchange and those determined based upon the rates of exchange applicable under accounting principles generally accepted in the United States.

Segment profit excludes interest income and expense, non-operating income and expense, adjustments to eliminate intercompany profit in inventory, and income tax expense. In determining segment profit, expenses relating to pension and other postretirement benefits are based solely upon estimated service costs. Corporate expenses, as well as certain centrally managed expenses, including expenses related to share-based compensation, are allocated to each reportable segment based upon budgeted amounts. While sales and transfers between segments are accounted for at cost plus a reasonable profit, the effects of intersegment sales are excluded from the computation of segment profit. Intercompany profit in inventory is excluded from segment assets and is recognized as a reduction of cost of goods sold by the selling segment

when the related inventory is sold to an unaffiliated customer. Because the Corporation compensates the management of its various businesses on, among other factors, segment profit, the Corporation may elect to record certain segment-related expense items of an unusual or non-recurring nature in consolidation rather than reflect such items in segment profit. In addition, certain segment-related items of income or expense may be recorded in consolidation in one period and transferred to the various segments in a later period.