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Black And Decker Corporation

Annual Report 2009


(Set 1)

Prepared by:

Daniel Munoz
Accounting 101
Spring 2010
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The Black And Decker Corporation


Preliminary Questions

I. Fiscal Year End : December 31, 2009

II. Financial Statements

 Consolidated Statement of Earnings


( January 1, 2007 – December 31, 2009 )

 Consolidated Balance Sheet


( January 1, 2008 – December 31, 2009 )

 Consolidated Statement of Stockholders Equity


( January 1, 2006 – December 31, 2009 )

 Consolidated Statement of Cash Flow


( January 1, 2007 – December 31, 2009 )

III. Accounting Equation

Assets = Liabilities + Stockholders Equity

5,495.2 = 4,196.1 + 1299.1

5,495.2 = 5,495.2

( Number Listed in Millions of Dollars )

IV. Total Assets : 5,495.2 ( In Millions)

V. Total Liabilities : 4,196.1 ( In Millions)

VI. Total Stock Holders Equity : 1,299.1 ( In Millions)

VII. Total Revenues : 4,775.1 (In Millions)

VIII. Profit: 132.5 (In Millions)

IX. Operations

 Largest Amount Received : Inventories 273.3 (In Millions)

 Largest Amount Expended : Other Current Liabilities : 102.2 (In Millions)


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Investing Activities

 Largest Amount Received : Cash Inflow from Hedging Activities : 196.0 (In
Millions)

 Largest Amount Expended : Capital Expenditures : 63.1 (In Millions)

Financing Activities

 Largest Amount Received : Proceeds from issuance of long term debt: 393.1 ( In
Millions)

 Largest Amount Expended : Net ( Decrease) increase in short term borrowings :


84.3 (In Millions)

Cash increased From the prior year.

X. Auditor : Ernst and Young LLP


Baltimore, Maryland
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A. Introduction

The Black and Decker Corporation are headquartered out of Towson, Maryland in a building

located at 701 East Joppa Rd. The Chief Executive Officer is 66 year old Nolan D. Archibald

whose annual salary was 3.38 Million in 2008. The Company manufactures tools and accessories

in all sectors of the tool industry from Household Tools, Heavy Power tools, technologically based

fastening and assembly systems worldwide. The Main household tool brand is Black and Decker

with its inexpensive power tools to get countless household tasks done with no problem. As for its

Industrial Power tool brands Black and Decker carries powerhouse Dewalt Tools which is and

industry leader in power tools and accessories with its unbeatable array of accessories for every

possible situation. They also carry Stanley which specialize in tool box tools like tape measure and

levels, and many other tools that aid in making the best possible work. Porter Cable is a brand that

specializes in Air Compressors and Nail guns, a brand that solely owns this portion of the market

with the nearest competitor being dewalt which as you already now is produced by the same parent

company. Black and Decker also has under its belt, Kwikset and Sotitrol Security systems which

have a hold and the door lock systems sector with there array of different security levels to please

both residential and industrial needs. The Companies independent public accountants are none

other than Ernst and Young LLP based out of Baltimore, Maryland. On March 14, 2010 Black and

Decker ended the day at 74.05 Dollars a Share as well as 1.31 Dollars Dividend per Share.
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B. Industry Situation

Black and Decker is in the Industrial Goods Sector with it Industry being Small Tools and

Accessories. The company continues to show net earnings and no net losses so it is certain that

the Black and Decker Corporation is showing no signs of slowing down with its stable cash

flow. Black and Deckers recent merger with Stanley works on 3/12/2010 brings together 2

ionic brands with highly complimentary products and services that will enhance both

companies’ strengths and provide great growth opportunities. The combined company will

have a greater presence in the Tools Industry and create a great investment opportunity with

it’s “…highly diversified revenue base across geographies and business lines, stable earnings

and long history of paying consecutive dividends” (Baltimore Sun 3-14-10 “Black and Decker

Timeline”). “The Company expects to achieve significant improvements in working capital

and asset efficiency, as well as complexity reduction”. The combination is expected to generate

approximately $1.0 billion in free cash flow annually by the third year after closing”. With

both companies showing great outlook it is certain that 2010 will be a great year for the newly

founded Stanley Black and Decker Corporation. (www. StanleyBlackandDecker.com/prducts-

services/our brand).
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