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Receivables (Tables) | 12 Months Ended
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Dec. 31, 2016
Receivables [Abstract] |
Components of Trade and Other Accounts Receivable | The components of Snap-on’s trade and other accounts receivable as of 2016 and 2015 year end are as follows:
(Amounts in millions) |  | 2016 |  |  | 2015 |
Trade and other accounts receivable |  | $ | 612.8 |  |  | $ | 579.2 |
Allowances for doubtful accounts |  |  | (14.0) |  |  |  | (16.7) |
Total trade and other accounts receivable – net |  | $ | 598.8 |  |  | $ | 562.5 |
Components of Current Finance and Contract Receivables | The components of Snap-on’s current finance and contract receivables as of 2016 and 2015 year end are as follows:
(Amounts in millions) |  | 2016 |  |  | 2015 |
Finance receivables, net of unearned finance charges of $17.0 million and $16.9 million, respectively |  | $ | 488.1 |  |  | $ | 460.7 |
Contract receivables, net of unearned finance charges of $15.6 million and $15.1 million, respectively |  |  | 89.3 |  |  |  | 83.5 |
Total |  |  | 577.4 |  |  |  | 544.2 |
Allowances for doubtful accounts: |  |  |  |  |  |  |  |
Finance receivables |  |  | (15.6) |  |  |  | (13.4) |
Contract receivables |  |  | (1.2) |  |  |  | (1.4) |
Total |  |  | (16.8) |  |  |  | (14.8) |
Total current finance and contract receivables – net |  | $ | 560.6 |  |  | $ | 529.4 |
Finance receivables – net |  | $ | 472.5 |  |  | $ | 447.3 |
Contract receivables – net |  |  | 88.1 |  |  |  | 82.1 |
Total current finance and contract receivables – net |  | $ | 560.6 |  |  | $ | 529.4 |
Components of Finance and Contract Receivables Beyond One Year | The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of 2016 and 2015 year end are as follows:
(Amounts in millions) |  | 2016 |  |  | 2015 |
Finance receivables, net of unearned finance charges of $13.0 million and $10.9 million, respectively |  | $ | 967.5 |  |  | $ | 797.5 |
Contract receivables, net of unearned finance charges of $21.5 million and $21.1 million, respectively |  |  | 289.4 |  |  |  | 269.6 |
Total |  |  | 1,256.9 |  |  |  | 1,067.1 |
Allowances for doubtful accounts: |  |  |  |  |  |  |  |
Finance receivables |  |  | (33.0) |  |  |  | (24.8) |
Contract receivables |  |  | (2.7) |  |  |  | (3.0) |
Total |  |  | (35.7) |  |  |  | (27.8) |
Total long-term finance and contract receivables – net |  | $ | 1,221.2 |  |  | $ | 1,039.3 |
Finance receivables – net |  | $ | 934.5 |  |  | $ | 772.7 |
Contract receivables – net |  |  | 286.7 |  |  |  | 266.6 |
Total long-term finance and contract receivables – net |  | $ | 1,221.2 |  |  | $ | 1,039.3 |
Schedule of Long-Term Finance and Contract Receivables | Long-term finance and contract receivables installments, net of unearned finance charges, as of 2016 and 2015 year end are scheduled as follows:
|  | 2016 |  |  | 2015 |
(Amounts in millions) |  | Finance Receivables |  |  | Contract Receivables |  |  | Finance Receivables |  |  | Contract Receivables |
Due in Months: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
13 – 24 |  | $ | 380.9 |  |  | $ | 69.5 |  |  | $ | 361.0 |  |  | $ | 65.1 |
25 – 36 |  |  | 296.9 |  |  |  | 60.2 |  |  |  | 252.8 |  |  |  | 56.6 |
37 – 48 |  |  | 196.8 |  |  |  | 49.7 |  |  |  | 137.8 |  |  |  | 46.5 |
49 – 60 |  |  | 92.9 |  |  |  | 37.7 |  |  |  | 45.9 |  |  |  | 35.0 |
Thereafter |  |  | – |  |  |  | 72.3 |  |  |  | – |  |  |  | 66.4 |
Total |  | $ | 967.5 |  |  | $ | 289.4 |  |  | $ | 797.5 |  |  | $ | 269.6 |
Aging of Finance and Contract Receivables | The aging of finance and contract receivables as of 2016 and 2015 year end is as follows:
(Amounts in millions) |  | 30-59 Days Past Due |  |  | 60-90 Days Past Due |  |  | Greater Than 90 Days Past Due |  |  | Total Past Due |  |  | Total Not Past Due |  |  | Total |  |  | Greater Than 90 Days Past Due and Accruing |
2016 year end: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables |  | $ | 15.1 |  |  | $ | 9.8 |  |  | $ | 17.0 |  |  | $ | 41.9 |  |  | $ | 1,413.7 |  |  | $ | 1,455.6 |  |  | $ | 13.2 |
Contract receivables |  |  | 1.4 |  |  |  | 0.9 |  |  |  | 1.4 |  |  |  | 3.7 |  |  |  | 375.0 |  |  |  | 378.7 |  |  |  | 0.5 |
2015 year end: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables |  | $ | 12.1 |  |  | $ | 7.6 |  |  | $ | 11.9 |  |  | $ | 31.6 |  |  | $ | 1,226.6 |  |  | $ | 1,258.2 |  |  | $ | 9.1 |
Contract receivables |  |  | 1.3 |  |  |  | 0.7 |  |  |  | 1.3 |  |  |  | 3.3 |  |  |  | 349.8 |  |  |  | 353.1 |  |  |  | 0.3 |
Schedule of Performing and Nonperforming Finance and Contract Receivables | The amount of performing and nonperforming finance and contract receivables based on payment activity as of 2016 and 2015 year end is as follows:
|  | 2016 |  |  | 2015 |
(Amounts in millions) |  | Finance Receivables |  |  | Contract Receivables |  |  | Finance Receivables |  |  | Contract Receivables |
Performing |  | $ | 1,430.7 |  |  | $ | 376.7 |  |  | $ | 1,240.0 |  |  | $ | 351.4 |
Nonperforming |  |  | 24.9 |  |  |  | 2.0 |  |  |  | 18.2 |  |  |  | 1.7 |
Total |  | $ | 1,455.6 |  |  | $ | 378.7 |  |  | $ | 1,258.2 |  |  | $ | 353.1 |
Schedule of Finance and Contract Receivables on Nonaccrual Status | The amount of finance and contract receivables on nonaccrual status as of 2016 and 2015 year end is as follows:
(Amounts in millions) |  | 2016 |  |  | 2015 |
Finance receivables |  | $ | 11.7 |  |  | $ | 9.3 |
Contract receivables |  |  | 1.5 |  |  |  | 1.5 |
Rollforward of Allowances for Doubtful Accounts for Finance and Contract Receivables | The following is a rollforward of the allowances for doubtful accounts for finance and contract receivables for 2016 and 2015:
|  | 2016 |  |  | 2015 |
(Amounts in millions) |  | Finance Receivables |  |  | Contract Receivables |  |  | Finance Receivables |  |  | Contract Receivables |
Allowances for doubtful accounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  | $ | 38.2 |  |  | $ | 4.4 |  |  | $ | 32.7 |  |  | $ | 3.5 |
Provision |  |  | 44.0 |  |  |  | 1.0 |  |  |  | 31.6 |  |  |  | 2.5 |
Charge-offs |  |  | (39.8) |  |  |  | (1.8) |  |  |  | (31.7) |  |  |  | (1.9) |
Recoveries |  |  | 6.2 |  |  |  | 0.4 |  |  |  | 5.9 |  |  |  | 0.4 |
Currency translation |  |  | – |  |  |  | (0.1) |  |  |  | (0.3) |  |  |  | (0.1) |
End of year |  | $ | 48.6 |  |  | $ | 3.9 |  |  | $ | 38.2 |  |  | $ | 4.4 |
Rollforward of Combined Allowances for Doubtful Accounts Related to Trade and Other Accounts Receivable | The following is a rollforward of the combined allowances for doubtful accounts related to trade and other accounts receivable, as well as finance and contract receivables, for 2016, 2015 and 2014:
(Amounts in millions) |  | Balance at Beginning of Year |  |  | Expenses |  |  | Deductions (1) |  |  | Balance at End of Year |
Allowances for doubtful accounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2016 |  | $ | 59.3 |  |  | $ | 51.5 |  |  | $ | (44.3) |  |  | $ | 66.5 |
2015 |  |  | 52.4 |  |  |  | 45.1 |  |  |  | (38.2) |  |  |  | 59.3 |
2014 |  |  | 46.0 |  |  |  | 41.7 |  |  |  | (35.3) |  |  |  | 52.4 |
(1) | Represents write-offs of bad debts, net of recoveries, and the net impact of currency translation.

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