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Revenue Recognition (Tables)

6 Months Ended

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

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130545-203045

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305

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