Note 10: Pension Plans

Snap-on’s net periodic pension cost included the following components:


	Three Months Ended						Six Months Ended
(Amounts in millions)	June 28, 2014			June 29, 2013			June 28, 2014			June 29, 2013
Service cost	$	4.2		$	4.6		$	9.0		$	10.2
Interest cost		14.4			13.0			28.7			25.8
Expected return on plan assets		(18.1	)		(17.8	)		(36.3	)		(35.3	)
Amortization of unrecognized loss		6.0			11.0			11.4			20.7
Amortization of prior service credit		(0.2	)		(0.2	)		(0.4	)		(0.4	)

Net periodic pension cost	$	6.3		$	10.6		$	12.4		$	21.0

Snap-on intends to make contributions of $11.0 million to its foreign pension plans and $1.8 million to its domestic pension plans in 2014, as required by law. In the first six months of 2014, Snap-on made $10.7 million of cash contributions to its domestic pension plans that included (i) $10.0 million of discretionary contributions; and (ii) $0.7 million of required contributions. Depending on market and other conditions, Snap-on may elect to make additional discretionary cash contributions to its pension plans in 2014.