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.