XML 40 R28.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Receivables (Tables) | 3 Months Ended
--- | ---
Apr. 01, 2017
Receivables [Abstract] |
Components of Trade and Other Accounts Receivable | The components of Snap-on’s trade and other accounts receivable as of April 1, 2017, and December 31, 2016, are as follows:
(Amounts in millions) |  | April 1, 2017 |  |  | December 31, 2016 |
Trade and other accounts receivable |  | $ | 621.6 |  |  | $ | 612.8 |
Allowances for doubtful accounts |  |  | (13.5) |  |  |  | (14.0) |
Total trade and other accounts receivable – net |  | $ | 608.1 |  |  | $ | 598.8 |
Components of Current Finance and Contract Receivables | The components of Snap-on’s current finance and contract receivables as of April 1, 2017, and December 31, 2016, are as follows:
(Amounts in millions) |  | April 1, 2017 |  |  | December 31, 2016 |
Finance receivables, net of unearned finance charges of $17.9 million and $17.0 million, respectively |  | $ | 500.7 |  |  | $ | 488.1 |
Contract receivables, net of unearned finance charges of $15.9 million and $15.6 million, respectively |  |  | 85.9 |  |  |  | 89.3 |
Total |  |  | 586.6 |  |  |  | 577.4 |
Allowances for doubtful accounts: |  |  |  |  |  |  |  |
Finance receivables |  |  | (16.0) |  |  |  | (15.6) |
Contract receivables |  |  | (1.4) |  |  |  | (1.2) |
Total |  |  | (17.4) |  |  |  | (16.8) |
Total current finance and contract receivables – net |  | $ | 569.2 |  |  | $ | 560.6 |
Finance receivables – net |  | $ | 484.7 |  |  | $ | 472.5 |
Contract receivables – net |  |  | 84.5 |  |  |  | 88.1 |
Total current finance and contract receivables – net |  | $ | 569.2 |  |  | $ | 560.6 |
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 April 1, 2017, and December 31, 2016, are as follows:
(Amounts in millions) |  | April 1, 2017 |  |  | December 31, 2016 |
Finance receivables, net of unearned finance charges of $13.8 million and $13.0 million, respectively |  | $ | 1,000.8 |  |  | $ | 967.5 |
Contract receivables, net of unearned finance charges of $21.9 million and $21.5 million, respectively |  |  | 295.9 |  |  |  | 289.4 |
Total |  |  | 1,296.7 |  |  |  | 1,256.9 |
Allowances for doubtful accounts: |  |  |  |  |  |  |  |
Finance receivables |  |  | (34.5) |  |  |  | (33.0) |
Contract receivables |  |  | (3.3) |  |  |  | (2.7) |
Total |  |  | (37.8) |  |  |  | (35.7) |
Total long-term finance and contract receivables – net |  | $ | 1,258.9 |  |  | $ | 1,221.2 |
Finance receivables – net |  | $ | 966.3 |  |  | $ | 934.5 |
Contract receivables – net |  |  | 292.6 |  |  |  | 286.7 |
Total long-term finance and contract receivables – net |  | $ | 1,258.9 |  |  | $ | 1,221.2 |
Aging of Finance and Contract Receivables | The aging of finance and contract receivables as of April 1, 2017, and December 31, 2016, 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 |
April 1, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables |  | $ | 12.0 |  |  | $ | 8.8 |  |  | $ | 16.8 |  |  | $ | 37.6 |  |  | $ | 1,463.9 |  |  | $ | 1,501.5 |  |  | $ | 12.6 |
Contract receivables |  |  | 1.1 |  |  |  | 1.0 |  |  |  | 2.0 |  |  |  | 4.1 |  |  |  | 377.7 |  |  |  | 381.8 |  |  |  | 0.5 |
December 31, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 |
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 April 1, 2017, and December 31, 2016, is as follows:
|  | April 1, 2017 |  |  | December 31, 2016 |
(Amounts in millions) |  | Finance Receivables |  |  | Contract Receivables |  |  | Finance Receivables |  |  | Contract Receivables |
Performing |  | $ | 1,476.6 |  |  | $ | 379.5 |  |  | $ | 1,430.7 |  |  | $ | 376.7 |
Nonperforming |  |  | 24.9 |  |  |  | 2.3 |  |  |  | 24.9 |  |  |  | 2.0 |
Total |  | $ | 1,501.5 |  |  | $ | 381.8 |  |  | $ | 1,455.6 |  |  | $ | 378.7 |
Schedule of Finance and Contract Receivables on Nonaccrual Status | The amount of finance and contract receivables on nonaccrual status as of April 1, 2017, and December 31, 2016, is as follows:
(Amounts in millions) |  | April 1, 2017 |  |  | December 31, 2016 |
Finance receivables |  | $ | 12.3 |  |  | $ | 11.7 |
Contract receivables |  |  | 1.8 |  |  |  | 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 the three months ended April 1, 2017, and April 2, 2016:
|  | Three Months Ended April 1, 2017 |  |  | Three Months Ended April 2, 2016 |
(Amounts in millions) |  | Finance Receivables |  |  | Contract Receivables |  |  | Finance Receivables |  |  | Contract Receivables |
Allowances for doubtful accounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  | $ | 48.6 |  |  | $ | 3.9 |  |  | $ | 38.2 |  |  | $ | 4.4 |
Provision |  |  | 13.0 |  |  |  | 1.3 |  |  |  | 9.3 |  |  |  | 0.4 |
Charge-offs |  |  | (12.9) |  |  |  | (0.6) |  |  |  | (9.6) |  |  |  | (0.4) |
Recoveries |  |  | 1.7 |  |  |  | 0.1 |  |  |  | 1.9 |  |  |  | 0.1 |
Currency Translation |  |  | 0.1 |  |  |  | – |  |  |  | 0.1 |  |  |  | 0.1 |
End of period |  | $ | 50.5 |  |  | $ | 4.7 |  |  | $ | 39.9 |  |  | $ | 4.6 |

X
- Definition Tabular disclosure of notes and loans and contract receivables and activity in the allowance for credit losses account. + References No definition available. + Details
Name: | sna_AllowanceForCreditLossesOnNotesAndLoansAndContractReceivablesTableTextBlock
Namespace Prefix: | sna_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of notes and loans and contract receivables that are past due but not impaired, notes and loans and contract receivables that are 90 days past due and still accruing, and notes and loans and contract receivables on nonaccrual status. + References No definition available. + Details
Name: | sna_PastDueNotesAndLoansAndContractReceivablesTableTextBlock
Namespace Prefix: | sna_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of components of notes and loans and contract receivables current. + References No definition available. + Details
Name: | sna_ScheduleOfComponentsOfNotesAndLoansAndContractReceivablesCurrentTableTextBlock
Namespace Prefix: | sna_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of components of trade and other accounts receivable. + References No definition available. + Details
Name: | sna_ScheduleOfComponentsOfTradeAndOtherAccountsReceivableTableTextBlock
Namespace Prefix: | sna_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of nonaccrual and past due notes and loans and contract receivables on nonaccrual status as of each balance sheet date. + References No definition available. + Details
Name: | sna_ScheduleOfNotesAndLoansAndContractReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix: | sna_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of notes and loans and contract receivables non current. + References No definition available. + Details
Name: | sna_ScheduleOfNotesAndLoansAndContractReceivablesNonCurrentTableTextBlock
Namespace Prefix: | sna_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of performing and nonperforming notes and loans and contract receivables. + References No definition available. + Details
Name: | sna_ScheduleOfPerformingAndNonperformingNotesAndLoansAndContractReceivablesTableTextBlock
Namespace Prefix: | sna_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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