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Exit and Disposal Activities

3 Months Ended

Apr. 02, 2016

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 month periods ended April 2, 2016, and April 4, 2015.

Snap-on’s exit and disposal accrual activity for the first quarter of 2016 is as follows:

		Balance at												Balance at
(Amounts in millions)		January 2, 2016				Provision				Usage				April 2, 2016
Severance costs:
Commercial & Industrial Group		$	0.3			$	—			$	(0.1	)		$	0.2
Repair Systems & Information Group			3.8				—				(0.8	)			3.0
Total		$	4.1			$	—			$	(0.9	)		$	3.2

The majority of the $3.2 million exit and disposal accrual as of April 2, 2016, is expected to be utilized in 2016.

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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- References

No definition available.

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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

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