EXHIBIT 12

<TABLE>

                 THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                       (Millions of Dollars Except Ratios)

<CAPTION>

                                                              Three Months Ended                Twelve Months Ended
                                                               December 31, 1998                  December 31, 1998
                                                              ------------------                -------------------
EARNINGS:
<S>                                                                      <C>                               <C>     
Earnings (loss) from continuing operations
  before income taxes                                                    $ 185.0                           $(588.3)
Interest expense                                                            38.3                              145.3
Portion of rent expense representative
  of an interest factor                                                      6.7                               26.9
                                                                         -------                           --------

Adjusted earnings (loss) from continuing
  operations before taxes and
  fixed charges                                                          $ 230.0                           $(416.1)
                                                                         =======                           ========

FIXED CHARGES:

Interest expense                                                         $  38.3                           $  145.3
Portion of rent expense representative
  of an interest factor                                                      6.7                               26.9
                                                                         -------                           --------

Total fixed charges                                                      $  45.0                           $  172.2
                                                                         =======                           ========

RATIO OF EARNINGS TO FIXED
  CHARGES                                                                   5.11
                                                                         =======
RATIO OF EARNINGS TO FIXED
  CHARGES (DEFICIENCY) (Note 2)                                                                                  --
                                                                                                           ========
<FN>
Notes: 1. Included in earnings (loss) from continuing  operations  before income
          taxes for the three months ended December 31, 1998, are  restructuring
          and exit  costs of $10.5  and  gain on sale of  businesses  of  $51.1.
          Included in earnings (loss) from continuing  operations  before income
          taxes for the twelve months ended December 31, 1998, are restructuring
          and exit costs of $164.7, write-off of goodwill of $900.0, and gain on
          sale of businesses of $114.5.

       2. For the twelve  months ended  December 31, 1998,  earnings (loss) from
          continuing  operations  before income  taxes are insufficient to cover
          fixed charges by the amount of $588.3.
</FN>
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