Note 10: Pension Plans

Snap-on’s net periodic pension cost included the following components:


	Three Months Ended				Nine Months Ended
(Amounts in millions)	October 1, 2016		October 3, 2015		October 1, 2016		October 3, 2015
Service cost	$	4.8	$	5.1	$	14.5	$	15.2
Interest cost		14.2		13.4		42.6		40.2
Expected return on plan assets		(20.4)		(19.8)		(60.8)		(59.5)
Amortization of unrecognized loss		7.8		9.7		23.5		29.1
Amortization of prior service credit		(0.2)		(0.3)		(0.8)		(0.7)

Net periodic pension cost	$	6.2	$	8.1	$	19.0	$	24.3

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 nine months of 2016, Snap-on made $41.2 million of cash contributions to its domestic pension plans consisting of (i) $40.0 million of discretionary contributions; and (ii) $1.2 million of required contributions. Depending on market and other conditions, Snap-on may make additional discretionary contributions in the balance of 2016.