STANLEY BLACK & DECKER, INC.SWK
STANLEY BLACK & DECKER, INC. Segments Disclosure
BUSINESS SEGMENTS AND GEOGRAPHIC AREAS
The Company’s operations are classified into two reportable business segments: Tools & Outdoor and Engineered Fastening. In the first quarter of 2025, the Industrial segment was renamed “Engineered Fastening” as a result of a more focused portfolio following recent divestitures. The Engineered Fastening segment name change is to the name only and had no impact on the Company’s consolidated financial statements or segment results.
The Tools & Outdoor segment is comprised of the Power Tools Group ("PTG"), Hand Tools, Accessories & Storage ("HTAS") and Outdoor Power Equipment ("Outdoor") product lines. The PTG product line includes both professional and consumer products. Professional products, primarily under the DEWALT® brand, include professional grade corded and cordless electric power tools and equipment including drills, impact wrenches and drivers, grinders, saws, routers, sanders, and concrete prep and placement tools as well as pneumatic tools and fasteners including nail guns, nails, staplers and staples, and concrete and masonry anchors. DIY and tradesperson focused products include corded and cordless electric power tools sold primarily under the CRAFTSMAN® and STANLEY® brands, and consumer home products such as household power tools, hand-held vacuums, and small appliances primarily under the BLACK+DECKER® brand. The HTAS product line sells hand tools, power tool accessories and storage products primarily under the DEWALT®, CRAFTSMAN®, and STANLEY® brands. Hand tools include measuring, leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, material handling, and industrial and automotive tools. Power tool accessories include drill bits, screwdriver bits, router bits, abrasives, saw blades and threading products. Storage products include tool boxes, sawhorses, cabinets and engineered storage solution products. The Outdoor product line primarily sells corded and cordless electric lawn and garden products, including hedge trimmers, string trimmers, lawn mowers, pressure washers and related accessories, and gas powered lawn and garden products, including lawn tractors, zero turn ride on mowers, walk behind mowers, snow blowers, residential robotic mowers, hand-held outdoor power equipment, garden tools, and parts and accessories to professionals and consumers primarily under the DEWALT®, CRAFTSMAN®, CUB CADET®, BLACK+DECKER®, and HUSTLER® brand names.
The Engineered Fastening segment is comprised of the Engineered Fastening business and included the Infrastructure business prior to its sale in April 2024. The Engineered Fastening business primarily sells highly engineered components such as fasteners, fittings and various engineered products, which are designed for specific applications across multiple verticals. The product categories include externally threaded fasteners, blind rivets and tools, blind inserts and tools, drawn arc weld studs and systems, engineered plastic and mechanical fasteners, self-piercing riveting systems, precision nut running systems, micro fasteners, high-strength structural fasteners, axel swage, latches, heat shields, pins, and couplings.
The Company utilizes segment profit, which is defined as net sales minus cost of sales and SG&A inclusive of the provision for credit losses (aside from corporate overhead expense), and segment profit as a percentage of net sales to assess the profitability of each segment. Transactions between segments are not material. Segment assets primarily include cash, accounts receivable, inventory, other current assets, property, plant and equipment, right-of-use lease assets and intangible assets. Net sales and long-lived assets are attributed to the geographic regions based on the geographic locations of the end customer and the Company subsidiary, respectively.
The corporate overhead element of SG&A, which is not allocated to the business segments for purposes of determining segment profit, consists of the costs associated with the executive management team and expenses related to centralized functions that benefit the entire Company but are not directly attributable to the business segments, such as legal and corporate finance functions, as well as expenses for the world headquarters facility.
The Company’s chief operating decision maker ("CODM") is the President and Chief Executive Officer. The CODM uses segment profit for each segment as part of the Company's annual operating plan and forecasting process. The CODM monitors actual segment profit results relative to operating plan and forecast to assess the performance of the business and allocate resources.
BUSINESS SEGMENTS
| (Millions of Dollars) | 2025 | ||||||||||||||||
| Tools & Outdoor | Engineered Fastening | Total | |||||||||||||||
| Net Sales | $ | 13,158.2 | $ | 1,972.2 | $ | 15,130.4 | |||||||||||
| Cost of sales | 9,122.5 | 1,417.5 | |||||||||||||||
| Selling, general and administrative | 2,706.9 | 357.7 | |||||||||||||||
| Segment Profit | $ | 1,328.8 | $ | 197.0 | $ | 1,525.8 | |||||||||||
| Corporate Overhead | (270.4) | ||||||||||||||||
| Other, net | (240.7) | ||||||||||||||||
| Loss on sale of business | (0.3) | ||||||||||||||||
| Restructuring charges | (89.1) | ||||||||||||||||
| Asset impairment charges | (189.5) | ||||||||||||||||
| Interest income | 198.4 | ||||||||||||||||
| Interest expense | (516.3) | ||||||||||||||||
| Earnings from continuing operations before income taxes | $ | 417.9 | |||||||||||||||
| (Millions of Dollars) | 2024 | ||||||||||||||||
| Tools & Outdoor | Engineered Fastening | Total | |||||||||||||||
| Net Sales | $ | 13,304.2 | $ | 2,061.5 | $ | 15,365.7 | |||||||||||
| Cost of sales | 9,404.0 | 1,452.0 | |||||||||||||||
| Selling, general and administrative | 2,702.8 | 354.6 | |||||||||||||||
| Segment Profit | $ | 1,197.4 | $ | 254.9 | $ | 1,452.3 | |||||||||||
| Corporate Overhead | (270.6) | ||||||||||||||||
| Other, net | (448.8) | ||||||||||||||||
| Restructuring charges | (99.9) | ||||||||||||||||
| Asset impairment charges | (72.4) | ||||||||||||||||
| Interest income | 179.1 | ||||||||||||||||
| Interest expense | (498.6) | ||||||||||||||||
| Earnings from continuing operations before income taxes | $ | 241.1 | |||||||||||||||
| (Millions of Dollars) | 2023 | ||||||||||||||||
| Tools & Outdoor | Engineered Fastening | Total | |||||||||||||||
| Net Sales | $ | 13,367.1 | $ | 2,414.0 | $ | 15,781.1 | |||||||||||
| Cost of sales | 10,090.2 | 1,758.2 | |||||||||||||||
| Selling, general and administrative | 2,589.3 | 389.3 | |||||||||||||||
| Segment Profit | $ | 687.6 | $ | 266.5 | $ | 954.1 | |||||||||||
| Corporate Overhead | (312.2) | ||||||||||||||||
| Other, net | (320.1) | ||||||||||||||||
| Loss on sales of businesses | (10.8) | ||||||||||||||||
| Restructuring charges | (39.4) | ||||||||||||||||
| Asset impairment charges | (274.8) | ||||||||||||||||
| Interest income | 186.9 | ||||||||||||||||
| Interest expense | (559.4) | ||||||||||||||||
| Loss from continuing operations before income taxes | $ | (375.7) | |||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2023 | ||||||||||||||
| Capital and Software Expenditures | |||||||||||||||||
| Tools & Outdoor | $ | 236.5 | $ | 301.5 | $ | 264.7 | |||||||||||
| Engineered Fastening | 46.8 | 52.4 | 74.0 | ||||||||||||||
| Consolidated | $ | 283.3 | $ | 353.9 | $ | 338.7 | |||||||||||
| Depreciation and Amortization | |||||||||||||||||
| Tools & Outdoor | $ | 396.7 | $ | 456.8 | $ | 453.5 | |||||||||||
| Engineered Fastening | 115.7 | 132.7 | 171.6 | ||||||||||||||
| Consolidated | $ | 512.4 | $ | 589.5 | $ | 625.1 | |||||||||||
| Segment Assets | January 3, 2026 | December 28, 2024 | |||||||||
| Tools & Outdoor | $ | 17,705.5 | $ | 18,135.8 | |||||||
| Engineered Fastening | 2,402.0 | 3,962.9 | |||||||||
| 20,107.5 | 22,098.7 | ||||||||||
| Assets held for sale | 1,536.3 | — | |||||||||
| Corporate assets | (400.1) | (249.8) | |||||||||
| Consolidated | $ | 21,243.7 | $ | 21,848.9 | |||||||
Corporate assets primarily consist of cash, deferred taxes, property, plant and equipment and right-of-use lease assets. Based on the nature of the Company's cash pooling arrangements, at times corporate-related cash accounts will be in a net liability position.
The Home Depot accounted for approximately 15%, 14%, and 13% of the Company's consolidated net sales in 2025, 2024, and 2023, respectively, while Lowe's accounted for approximately 12%, 14%, and 14% of the Company's consolidated net sales in 2025, 2024, and 2023, respectively.
As described in Note A, Significant Accounting Policies, the Company recognizes revenue at a point in time from the sale of tangible products or over time depending on when the performance obligation is satisfied. For the years ended January 3, 2026, December 28, 2024, and December 30, 2023, the majority of the Company’s revenue was recognized at the time of sale. The percent of total segment revenue recognized over time for the Engineered Fastening segment for the years ended January 3, 2026, December 28, 2024, and December 30, 2023 was 1.9%, 3.2%, and 2.2%, respectively.
The Engineered Fastening segment included the Infrastructure business prior to its sale on April 1, 2024. The Infrastructure business had $92.6 million of sales for the three months ended March 30, 2024 and $448.6 million of sales for the year ended December 30, 2023.
GEOGRAPHIC AREAS
The following table is a summary of net sales and PP&E by geographic area for the years ended January 3, 2026, December 28, 2024 and December 30, 2023:
| (Millions of Dollars) | 2025 | 2024 | 2023 | ||||||||||||||
| Net Sales | |||||||||||||||||
| United States | $ | 9,316.8 | $ | 9,505.4 | $ | 9,861.3 | |||||||||||
| Canada | 680.3 | 739.5 | 761.5 | ||||||||||||||
| Other Americas | 839.6 | 879.7 | 870.9 | ||||||||||||||
| Europe | 3,079.8 | 3,018.3 | 3,024.7 | ||||||||||||||
| Asia | 1,213.9 | 1,222.8 | 1,262.7 | ||||||||||||||
| Consolidated | $ | 15,130.4 | $ | 15,365.7 | $ | 15,781.1 | |||||||||||
| (Millions of Dollars) | January 3, 2026 | December 28, 2024 | |||||||||
| Property, Plant & Equipment, net | |||||||||||
| United States | $ | 1,053.3 | $ | 1,256.8 | |||||||
| Canada | 5.1 | 5.6 | |||||||||
| Other Americas | 195.3 | 208.4 | |||||||||
| Europe | 290.0 | 273.4 | |||||||||
| Asia | 288.1 | 290.1 | |||||||||
| Consolidated | $ | 1,831.8 | $ | 2,034.3 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Feb 24, 2026 | Showing above |
| 2024 | Feb 18, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 22, 2022 | |
| 2021 | Feb 18, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 26, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 19, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.