THE STANLEY WORKS AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years ended December 29, 2007, December 30, 2006, December 31, 2005, January 1, 2005, and January 3, 2004
(Millions of Dollars)


	Fiscal Year
	2007			2006			2005			2004			2003
Earnings from continuing operations before income taxes and minority interest		$	453.8		$	371.1		$	358.2		$	324.2		$	118.1
Add:
Interest expense			85.2			69.3			40.4			38.6			34.1
Portion of rents representative of interest factor			19.6			16.1			12.7			9.7			7.3
Amortization of capitalized interest			—			—			—			—			—
Income as adjusted		$	558.6		$	456.5		$	411.3		$	372.5		$	159.5
Fixed charges:
Interest expense		$	85.2		$	69.3		$	40.4		$	38.6		$	34.1
Portion of rents representative of interest factor			19.6			16.1			12.7			9.7			7.3
Amortization of capitalized interest			—			—			—			—			—
Fixed charges		$	104.8		$	85.4		$	53.1		$	48.3		$	41.4
Ratio of earnings to fixed charges			5.3			5.3			7.7			7.7			3.9