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Cover Page - shares | 9 Months Ended |
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Oct. 02, 2021 | Nov. 08, 2021
Document Information [Line Items] |  |
Document Type | 10-Q/A |
Document Quarterly Report | true |
Document Period End Date | Oct. 02, 2021 |
Document Transition Report | false |
Entity File Number | 001-05224 |
Entity Registrant Name | STANLEY BLACK & DECKER, INC. |
Entity Incorporation, State or Country Code | CT |
Entity Tax Identification Number | 06-0548860 |
Entity Address, Address Line One | 1000 STANLEY DRIVE |
Entity Address, City or Town | NEW BRITAIN |
Entity Address, State or Province | CT |
Entity Address, Postal Zip Code | 06053 |
City Area Code | 860 |
Local Phone Number | 225-5111 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding |  | 163,033,211
Entity Central Index Key | 0000093556 |
Current Fiscal Year End Date | --01-01 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | true |
Amendment Description | EXPLANATORY NOTEStanley Black & Decker, Inc. (“the Company”) filed its Quarterly Report on Form 10-Q for the period ended October 2, 2021 with the U.S. Securities and Exchange Commission (“SEC”) on November 12, 2021 (the “Original Form 10-Q”). This Amendment No. 1 on Form 10-Q (this "Amendment" or "Form 10-Q/A") is being filed to restate certain information as of and for the periods ended October 2, 2021, July 3, 2021 and April 3, 2021, as well as the related comparative interim periods in 2020 (collectively, the "Affected Periods"), contained in the Company's previously issued unaudited interim consolidated financial statements (the “Restatement”). The Company also filed an Amendment No. 1 on Form 10-K for the fiscal year ended January 2, 2021 ("Form 10-K/A") to restate certain information in the Company's previously issued consolidated financial statements for the fiscal years ended January 2, 2021, December 28, 2019, and December 29, 2018, as well as the summarized unaudited interim financial information for each of the quarters during the years ended January 2, 2021 and December 28, 2019.Background of RestatementSubsequent to the filing of the Company's Annual Report on Form 10-K for the fiscal year ended January 2, 2021, filed with the SEC on February 18, 2021, the Company received comments from the SEC Staff regarding its accounting for equity units issued in May 2017 and November 2019 (the “Equity Units”), which were comprised of forward stock purchase contracts and convertible preferred stock. Upon further reflection on the comments received from the SEC Staff and the nature of the Equity Units, the Company determined that errors were made in its original accounting conclusions related to: (a) accounting for the forward stock purchase contracts and convertible preferred stock as separate units of account, and (b) applying the treasury stock method to the shares associated with the forward stock purchase contracts for purposes of calculating diluted earnings per share. Based on the Company's correspondence with the SEC Staff, the Company re-evaluated its accounting assessment and concluded that the Equity Units should be accounted for as one unit of account based on the economic linkage between the forward stock purchase contracts and convertible preferred stock as well as the Company’s assessment of the applicable accounting guidance relating to combining freestanding instruments. The Equity Units represent mandatorily convertible preferred stock. Accordingly, the shares associated with the combined instrument should be reflected in diluted earnings per share using the if-converted method.On January 24, 2022, the Company's management and the audit committee of the Company's Board of Directors concluded that the previously issued financial statements during the Affected Periods should be restated. In this Amendment, the Company has restated its basic and diluted earnings per share, as applicable, and the related diluted earnings per share impacts disclosed in this Form 10-Q/A, as a result of accounting for the Equity Units as a combined instrument. The shares underlying the forward stock purchase contracts have been included in the denominator of the Company’s diluted earnings per share utilizing the if-converted method, which represents a correction of an error of previously applying the treasury stock method. The Company also corrected the classification of certain amounts in the consolidated balance sheets, statements of cash flows and statements of changes in shareowners' equity to reflect the forward stock purchase contracts and convertible preferred stock as one unit of account, which represents a correction of an error of previously accounting for the instruments as two units of account. The corrections have no impact on the Company’s net earnings, total assets, cash flows from operations or business segment information.Internal Control ConsiderationsIn connection with the Restatement, management has concluded that the Company had material weaknesses in its internal control over financial reporting as of October 2, 2021, related to its accounting for the Equity Units. For a discussion of management’s considerations of the Company’s disclosures controls and procedures, internal controls over financial reporting, and material weaknesses identified, refer to Controls and Procedures in Part I, Item 4.Items Amended in this AmendmentThis Amendment sets forth the Original Form 10-Q, as modified and superseded where necessary to reflect the Restatement and the related internal control considerations. Accordingly, the following items included in the Original Form 10-Q have been amended:•Part I, Item 1, Condensed Consolidated Financial Statements•Part I, Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations•Part I, Item 4, Controls and Procedures•Part II, Item 1A, Risk FactorsAdditionally, in accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended, the Company is including with this Amendment currently dated certifications from its Chief Executive Officer and President and Chief Financial Officer. These certifications are filed or furnished, as applicable, as Exhibits 31(i)(a), 31(i)(b), 32(i) and 32(ii).Except as described above, this Amendment does not amend, update or change any other disclosures in the Original Form 10-Q. In addition, the information contained in this Amendment does not reflect events occurring after the Original Form 10-Q and does not modify or update the disclosures therein, except to reflect the effects of the Restatement. This Amendment should be read in conjunction with the Company’s other filings with the SEC. |
Common Stock $2.50 Par Value Per Share |  |
Document Information [Line Items] |  |
Title of 12(b) Security | Common Stock |
Trading Symbol | SWK |
Security Exchange Name | NYSE |
Corporate Units - SWT |  |
Document Information [Line Items] |  |
Title of 12(b) Security | Corporate Units |
Trading Symbol | SWT |
Security Exchange Name | NYSE |

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