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Exit and Disposal Activities | 6 Months Ended
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Jul. 04, 2015
Restructuring and Related Activities [Abstract] |
Exit and Disposal Activities | Note 6: Exit and Disposal Activities Snap-on did not record any costs for exit and disposal activities in the three and six month periods ended July 4, 2015; in the three and six month periods ended June 28, 2014, Snap-on recorded costs for exit and disposal activities for the Repair Systems & Information Group as follows:
|  | Three Months Ended |  |  | Six Months Ended |
(Amounts in millions) |  | June 28, 2014 |  |  | June 28, 2014 |
Exit and disposal costs: |  |  |  |  |  |  |  |
Repair Systems & Information Group: |  |  |  |  |  |  |  |
Cost of goods sold |  | $ | 1.2 |  |  | $ | 3.2 |
Operating expenses |  |  | 0.2 |  |  |  | 0.2 |
Total exit and disposal costs |  | $ | 1.4 |  |  | $ | 3.4 |
The $1.4 million and $3.4 million of costs incurred during the respective three and six month periods ended June 28, 2014, qualified for accrual treatment. Snap-on’s exit and disposal accrual activity for the first and second quarters of 2015 is as follows:
|  | Balance at January 3, 2015 |  |  | First Quarter |  |  | Balance at April 4, 2015 |  |  | Second Quarter |  |  | Balance at July 4, 2015 |
(Amounts in millions) |  |  | Provision |  |  | Usage |  |  |  | Provision |  |  | Usage |  |
Severance costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial Group |  | $ | 0.8 |  |  | $ | – |  |  | $ | (0.3) |  |  | $ | 0.5 |  |  | $ | – |  |  | $ | (0.1) |  |  | $ | 0.4 |
Repair Systems & Information Group |  |  | 5.7 |  |  |  | – |  |  |  | (0.4) |  |  |  | 5.3 |  |  |  | – |  |  |  | (0.6) |  |  |  | 4.7 |
Total |  | $ | 6.5 |  |  | $ | – |  |  | $ | (0.7) |  |  | $ | 5.8 |  |  | $ | – |  |  | $ | (0.7) |  |  | $ | 5.1 |
As of July 4, 2015, the company expects that approximately $1.8 million of the $5.1 million exit and disposal accrual will be utilized in the balance of 2015 and the remainder will extend into 2016 primarily for longer-term severance obligations. Snap-on expects to fund the remaining cash requirements of its exit and disposal activities with available cash on hand, cash flows from operations and borrowings under the company’s existing credit facilities. The estimated costs for the exit and disposal activities were based on management’s best business judgment under prevailing circumstances.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 + Details
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