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Pension Plans | 3 Months Ended
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Apr. 02, 2016
Compensation and Retirement Disclosure [Abstract] |
Pension Plans | Note 10: Pension Plans Snap-on’s net periodic pension cost included the following components:
|  | Three Months Ended |
|  | April 2, |  |  | April 4, |
(Amounts in millions) |  | 2016 |  |  | 2015 |
Service cost |  | $ | 4.9 |  |  | $ | 5.2 |
Interest cost |  |  | 14.0 |  |  |  | 13.2 |
Expected return on plan assets |  |  | (19.7 | ) |  |  | (19.4 | )
Amortization of unrecognized loss |  |  | 7.2 |  |  |  | 8.9 |
Amortization of prior service credit |  |  | (0.3 | ) |  |  | (0.2 | )
Net periodic pension cost |  | $ | 6.1 |  |  | $ | 7.7 |
Snap-on intends to make contributions of $7.4 million to its foreign pension plans and $2.0 million to its domestic pension plans in 2016, as required by law. In the first three months of 2016, Snap-on made $20.4 million of cash contributions to its domestic pension plans consisting of (i) $20.0 million of discretionary contributions; and (ii) $0.4 million of required contributions. Depending on market and other conditions, Snap-on may make additional discretionary cash contributions to its pension plans in 2016.

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