XML 42 R26.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Segments | 12 Months Ended
--- | ---
Dec. 31, 2016
Segment Reporting [Abstract] |
Segments | Note 18: Segments Snap-on’s business segments are based on the organization structure used by management for making operating and investment decisions and for assessing performance. Snap-on’s reportable business segments are: (i) the Commercial & Industrial Group; (ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services. The Commercial & Industrial Group consists of business operations serving a broad range of industrial and commercial customers worldwide, including customers in the aerospace, natural resources, government, power generation, transportation and technical education market segments (collectively, “critical industries”), primarily through direct and distributor channels. The Snap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians through the company’s worldwide mobile tool distribution channel. The Repair Systems & Information Group consists of business operations serving other professional vehicle repair customers worldwide, primarily owners and managers of independent repair shops and original equipment manufacturer (“OEM”) dealership service and repair shops (“OEM dealerships”), through direct and distributor channels. Financial Services consists of the business operations of Snap-on’s finance subsidiaries. Snap-on evaluates the performance of its operating segments based on segment revenues, including both external and intersegment net sales, and segment operating earnings. Snap-on accounts for intersegment sales and transfers based primarily on standard costs with reasonable mark-upsestablished between the segments. Identifiable assets by segment are those assets used in the respective reportable segment’s operations. Corporate assets consist of cash and cash equivalents (excluding cash held at Financial Services), deferred income taxes and certain other assets. All significant intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. Neither Snap-on nor any of its segments depend on any single customer, small group of customers or government for more than 10% of its revenues. Financial Data by Segment:
(Amounts in millions) |  | 2016 |  |  | 2015 |  |  | 2014 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial Group |  | $ | 1,148.3 |  |  | $ | 1,163.6 |  |  | $ | 1,174.8 |
Snap-on Tools Group |  |  | 1,633.9 |  |  |  | 1,568.7 |  |  |  | 1,455.2 |
Repair Systems & Information Group |  |  | 1,179.9 |  |  |  | 1,113.2 |  |  |  | 1,095.2 |
Segment net sales |  |  | 3,962.1 |  |  |  | 3,845.5 |  |  |  | 3,725.2 |
Intersegment eliminations |  |  | (531.7) |  |  |  | (492.7) |  |  |  | (447.5) |
Total net sales |  | $ | 3,430.4 |  |  | $ | 3,352.8 |  |  | $ | 3,277.7 |
Financial Services revenue |  |  | 281.4 |  |  |  | 240.3 |  |  |  | 214.9 |
Total revenues |  | $ | 3,711.8 |  |  | $ | 3,593.1 |  |  | $ | 3,492.6 |
Operating earnings: |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial Group |  | $ | 168.0 |  |  | $ | 169.4 |  |  | $ | 158.6 |
Snap-on Tools Group |  |  | 281.1 |  |  |  | 256.0 |  |  |  | 223.1 |
Repair Systems & Information Group |  |  | 297.8 |  |  |  | 273.4 |  |  |  | 251.2 |
Financial Services |  |  | 198.7 |  |  |  | 170.2 |  |  |  | 149.1 |
Segment operating earnings |  |  | 945.6 |  |  |  | 869.0 |  |  |  | 782.0 |
Corporate |  |  | (91.4) |  |  |  | (104.2) |  |  |  | (97.3) |
Operating earnings |  |  | 854.2 |  |  |  | 764.8 |  |  |  | 684.7 |
Interest expense |  |  | (52.2) |  |  |  | (51.9) |  |  |  | (52.9) |
Other income (expense) – net |  |  | (0.6) |  |  |  | (2.4) |  |  |  | (0.9) |
Earnings before income taxes and equity earnings |  | $ | 801.4 |  |  | $ | 710.5 |  |  | $ | 630.9 |
Financial Data by Segment (continued):
(Amounts in millions) |  | 2016 |  |  | 2015 |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial Group |  | $ | 907.1 |  |  | $ | 901.6 |  |  |  |  |
Snap-on Tools Group |  |  | 668.1 |  |  |  | 646.7 |  |  |  |  |
Repair Systems & Information Group |  |  | 1,211.0 |  |  |  | 1,041.6 |  |  |  |  |
Financial Services |  |  | 1,789.7 |  |  |  | 1,572.4 |  |  |  |  |
Total assets from reportable segments |  |  | 4,575.9 |  |  |  | 4,162.3 |  |  |  |  |
Corporate |  |  | 212.3 |  |  |  | 203.6 |  |  |  |  |
Elimination of intersegment receivables |  |  | (65.0) |  |  |  | (34.8) |  |  |  |  |
Total assets |  | $ | 4,723.2 |  |  | $ | 4,331.1 |  |  |  |  |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial Group |  | $ | 19.3 |  |  | $ | 31.0 |  |  | $ | 28.5 |
Snap-on Tools Group |  |  | 38.3 |  |  |  | 38.1 |  |  |  | 36.9 |
Repair Systems & Information Group |  |  | 13.1 |  |  |  | 9.0 |  |  |  | 10.6 |
Financial Services |  |  | 0.6 |  |  |  | 1.0 |  |  |  | 0.4 |
Total from reportable segments |  |  | 71.3 |  |  |  | 79.1 |  |  |  | 76.4 |
Corporate |  |  | 3.0 |  |  |  | 1.3 |  |  |  | 4.2 |
Total capital expenditures |  | $ | 74.3 |  |  | $ | 80.4 |  |  | $ | 80.6 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial Group |  | $ | 20.7 |  |  | $ | 20.1 |  |  | $ | 20.8 |
Snap-on Tools Group |  |  | 27.6 |  |  |  | 24.9 |  |  |  | 21.4 |
Repair Systems & Information Group |  |  | 33.9 |  |  |  | 34.0 |  |  |  | 33.7 |
Financial Services |  |  | 0.6 |  |  |  | 0.7 |  |  |  | 0.9 |
Total from reportable segments |  |  | 82.8 |  |  |  | 79.7 |  |  |  | 76.8 |
Corporate |  |  | 2.8 |  |  |  | 2.8 |  |  |  | 2.7 |
Total depreciation and amortization |  | $ | 85.6 |  |  | $ | 82.5 |  |  | $ | 79.5 |
Revenues by geographic region:* |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,588.8 |  |  | $ | 2,483.9 |  |  | $ | 2,288.9 |
Europe |  |  | 654.4 |  |  |  | 635.0 |  |  |  | 701.9 |
All other |  |  | 468.6 |  |  |  | 474.2 |  |  |  | 501.8 |
Total revenues |  | $ | 3,711.8 |  |  | $ | 3,593.1 |  |  | $ | 3,492.6 |
|  | 2016 |  |  | 2015 |
Long-lived assets:** |  |  |  |  |  |  |  |
United States |  | $ | 1,048.6 |  |  | $ | 1,033.3 |
Sweden |  |  | 218.8 |  |  |  | 114.5 |
All other |  |  | 237.9 |  |  |  | 250.8 |
Total long-lived assets |  | $ | 1,505.3 |  |  | $ | 1,398.6 |
* | Revenues are attributed to countries based on the origin of the sale.
** | Long-lived assets consist of Property and equipment – net, Goodwill, and Other intangibles – net.
Products and Services: Snap-on derives net sales from a broad line of products and complementary services that are grouped into three categories: (i) tools; (ii) diagnostics and repair information; and (iii) equipment. The tools product category includes Snap-on’s hand tools, power tools and tool storage products. The diagnostics and repair information product category includes handheld and PC-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, and business management systems and services to help owners and managers of independent repair shops and OEM dealerships manage and track performance. The equipment product category includes solutions for the diagnosis and service of vehicles and industrial equipment. Through its financial services businesses, Snap-on also derives revenue from various financing programs designed to facilitate the sales of its products and support its franchise business. Further product line information is not presented as it is not practicable to do so. The following table shows the consolidated net sales and revenues of these product groups in the last three years:
(Amounts in millions) |  | 2016 |  |  | 2015 |  |  | 2014 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
Tools |  | $ | 1,899.2 |  |  | $ | 1,910.1 |  |  | $ | 1,868.5 |
Diagnostics and repair information |  |  | 748.2 |  |  |  | 689.6 |  |  |  | 689.5 |
Equipment |  |  | 783.0 |  |  |  | 753.1 |  |  |  | 719.7 |
Total net sales |  | $ | 3,430.4 |  |  | $ | 3,352.8 |  |  | $ | 3,277.7 |
Financial services revenue |  |  | 281.4 |  |  |  | 240.3 |  |  |  | 214.9 |
Total revenues |  | $ | 3,711.8 |  |  | $ | 3,593.1 |  |  | $ | 3,492.6 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration