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Pension Plans | 6 Months Ended
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Jul. 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 |  |  | Six Months Ended |
(Amounts in millions) |  | July 2, 2016 |  |  | July 4, 2015 |  |  | July 2, 2016 |  |  | July 4, 2015 |
Service cost |  | $ | 4.8 |  |  | $ | 4.9 |  |  | $ | 9.7 |  |  | $ | 10.1 |
Interest cost |  |  | 14.4 |  |  |  | 13.6 |  |  |  | 28.4 |  |  |  | 26.8 |
Expected return on plan assets |  |  | (20.7 | ) |  |  | (20.3 | ) |  |  | (40.4 | ) |  |  | (39.7 | )
Amortization of unrecognized loss |  |  | 8.5 |  |  |  | 10.5 |  |  |  | 15.7 |  |  |  | 19.4 |
Amortization of prior service credit |  |  | (0.3 | ) |  |  | (0.2 | ) |  |  | (0.6 | ) |  |  | (0.4 | )
Net periodic pension cost |  | $ | 6.7 |  |  | $ | 8.5 |  |  | $ | 12.8 |  |  | $ | 16.2 |
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 six months of 2016, Snap-on made $30.8 million of cash contributions to its domestic pension plans consisting of (i) $30.0 million of discretionary contributions; and (ii) $0.8 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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