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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2018
Revenue Recognition and Deferred Revenue [Abstract] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The effects of adjustments to the December 30, 2017 consolidated balance sheet for the adoption of Topic 606 were as follows:
|  | Balance at |  | Topic 606 |  | Opening Balance at
(Amounts in millions) |  | December 30, 2017 |  | Adjustments |  | December 31, 2017
Assets |  |  |  |  |  |
Inventories - net |  | $ | 638.8 |  |  | $ | 20.9 |  |  | $ | 659.7 |
Deferred income tax assets |  | 52.0 |  |  | 0.6 |  |  | 52.6 |
Liabilities and Equity |  |  |  |  |  |
Other accrued liabilities |  | $ | 388.1 |  |  | $ | 23.3 |  |  | $ | 411.4 |
Retained earnings |  | 3,772.3 |  |  | (1.8 | ) |  | 3,770.5 |
Disaggregation of Revenue | The following table shows the consolidated revenues by revenue source:
|  | Three Months Ended |  | Six Months Ended
(Amounts in millions) |  | June 30, 2018 |  | June 30, 2018
Revenue from contracts with customers |  | $ | 949.2 |  |  | $ | 1,879.6 |
Other revenues |  | 5.4 |  |  | 10.5 |
Total net sales |  | 954.6 |  |  | 1,890.1 |
Financial services revenue |  | 82.0 |  |  | 165.0 |
Total revenues |  | $ | 1,036.6 |  |  | $ | 2,055.1 |
The following table represents external net sales disaggregated by geography, based on the customers’ billing addresses:
|  | For the three months ended June 30, 2018
|  | Commercial & |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales by geographic region: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 118.3 |  |  | $ | 346.2 |  |  | $ | 189.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 653.9 |
Europe |  | 76.6 |  |  | 43.7 |  |  | 68.2 |  |  | — |  |  | — |  |  | 188.5 |
All other |  | 72.2 |  |  | 22.0 |  |  | 18.0 |  |  | — |  |  | — |  |  | 112.2 |
External net sales |  | 267.1 |  |  | 411.9 |  |  | 275.6 |  |  | — |  |  | — |  |  | 954.6 |
Intersegment net sales |  | 70.7 |  |  | — |  |  | 67.5 |  |  | — |  |  | (138.2 | ) |  | — |
Total net sales |  | 337.8 |  |  | 411.9 |  |  | 343.1 |  |  | — |  |  | (138.2 | ) |  | 954.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 82.0 |  |  | — |  |  | 82.0 |
Total revenue |  | $ | 337.8 |  |  | $ | 411.9 |  |  | $ | 343.1 |  |  | $ | 82.0 |  |  | $ | (138.2 | ) |  | $ | 1,036.6 |
|  | For the six months ended June 30, 2018
|  | Commercial & |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales by geographic region: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 225.8 |  |  | $ | 685.1 |  |  | $ | 374.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,285.6 |
Europe |  | 159.5 |  |  | 85.2 |  |  | 135.2 |  |  | — |  |  | — |  |  | 379.9 |
All other |  | 140.6 |  |  | 46.3 |  |  | 37.7 |  |  | — |  |  | — |  |  | 224.6 |
External net sales |  | 525.9 |  |  | 816.6 |  |  | 547.6 |  |  | — |  |  | — |  |  | 1,890.1 |
Intersegment net sales |  | 143.5 |  |  | — |  |  | 132.5 |  |  | — |  |  | (276.0 | ) |  | — |
Total net sales |  | 669.4 |  |  | 816.6 |  |  | 680.1 |  |  | — |  |  | (276.0 | ) |  | 1,890.1 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 165.0 |  |  | — |  |  | 165.0 |
Total revenue |  | $ | 669.4 |  |  | $ | 816.6 |  |  | $ | 680.1 |  |  | $ | 165.0 |  |  | $ | (276.0 | ) |  | $ | 2,055.1 |
* North America is comprised of the United States, Canada and Mexico.
The following table represents external net sales disaggregated by customer type:
|  | For the three months ended June 30, 2018
|  | Commercial & |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
Vehicle service professionals |  | $ | 25.6 |  |  | $ | 411.9 |  |  | $ | 275.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 713.1 |
All other professionals |  | 241.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 241.5 |
External net sales |  | 267.1 |  |  | 411.9 |  |  | 275.6 |  |  | — |  |  | — |  |  | 954.6 |
Intersegment net sales |  | 70.7 |  |  | — |  |  | 67.5 |  |  | — |  |  | (138.2 | ) |  | — |
Total net sales |  | 337.8 |  |  | 411.9 |  |  | 343.1 |  |  | — |  |  | (138.2 | ) |  | 954.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 82.0 |  |  | — |  |  | 82.0 |
Total revenue |  | $ | 337.8 |  |  | $ | 411.9 |  |  | $ | 343.1 |  |  | $ | 82.0 |  |  | $ | (138.2 | ) |  | $ | 1,036.6 |
|  | For the six months ended June 30, 2018
|  | Commercial & |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
Vehicle service professionals |  | $ | 48.1 |  |  | $ | 816.6 |  |  | $ | 547.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,412.3 |
All other professionals |  | 477.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 477.8 |
External net sales |  | 525.9 |  |  | 816.6 |  |  | 547.6 |  |  | — |  |  | — |  |  | 1,890.1 |
Intersegment net sales |  | 143.5 |  |  | — |  |  | 132.5 |  |  | — |  |  | (276.0 | ) |  | — |
Total net sales |  | 669.4 |  |  | 816.6 |  |  | 680.1 |  |  | — |  |  | (276.0 | ) |  | 1,890.1 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 165.0 |  |  | — |  |  | 165.0 |
Total revenue |  | $ | 669.4 |  |  | $ | 816.6 |  |  | $ | 680.1 |  |  | $ | 165.0 |  |  | $ | (276.0 | ) |  | $ | 2,055.1 |

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