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Exit and Disposal Activities (Tables)

9 Months Ended

Sep. 27, 2014

Restructuring and Related Activities [Abstract]

Recorded Costs Associated with Exit and Disposal Activities

Snap-on recorded costs associated with exit and disposal activities for the three and nine month periods ended September 27, 2014, and September 28, 2013, as follows:

		Three Months Ended								Nine Months Ended
		September 27,				September 28,				September 27,				September 28,
(Amounts in millions)		2014				2013				2014				2013
Exit and disposal costs:
Cost of goods sold:
Commercial & Industrial Group		$	0.5			$	0.3			$	0.5			$	2.5
Snap-on Tools Group			—				0.1				—				0.2
Repair Systems & Information Group			1.0				0.9				4.2				1.7
Total cost of goods sold			1.5				1.3				4.7				4.4
Operating expenses:
Commercial & Industrial Group			0.4				0.3				0.4				0.4
Snap-on Tools Group			—				0.1				—				0.3
Repair Systems & Information Group			0.1				—				0.3				1.2
Total operating expenses			0.5				0.4				0.7				1.9
Financial Services			—				—				—				0.1
Total exit and disposal costs:
Commercial & Industrial Group			0.9				0.6				0.9				2.9
Snap-on Tools Group			—				0.2				—				0.5
Repair Systems & Information Group			1.1				0.9				4.5				2.9
Financial Services			—				—				—				0.1
Total exit and disposal costs		$	2.0			$	1.7			$	5.4			$	6.4

Components of Exit and Disposal Accrual Activity

Snap-on’s exit and disposal accrual activity for the first nine months of 2014 is as follows:

		Balance at December 28, 2013				Six Months								Balance at June  28, 2014				Third Quarter								Balance at September 27, 2014
(Amounts in millions)						Provision				Usage								Provision				Usage
Severance costs:
Commercial & Industrial Group		$	1.5			$	–			$	(0.5)			$	1.0			$	0.9			$	(0.3)			$	1.6
Snap-on Tools Group			0.2				–				(0.1)				0.1				–				(0.1)				–
Repair Systems & Information Group			2.3				3.4				(0.6)				5.1				1.1				(0.9)				5.3
Total		$	4.0			$	3.4			$	(1.2)			$	6.2			$	2.0			$	(1.3)			$	6.9

As of September 27, 2014, the company expects that approximately $2.0 million of the $6.9 million exit and disposal accrual will be utilized in the balance of 2014 and the remainder will extend into 2015 primarily for longer-term severance obligations.

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 420

-SubTopic 10

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-Name Accounting Standards Codification

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-Publisher FASB

-Name Accounting Standards Codification

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 420

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (b)(2)

-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869



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-Publisher FASB

-Name Accounting Standards Codification

-Topic 420

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB Topic 5.P.4(b)(2))

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