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Receivables (Tables)
 9 Months Ended
Sep. 29, 2018
Receivables [Abstract]  
Components of Trade and Other Accounts Receivable
The components of Snap-on’s trade and other accounts receivable as of September 29, 2018, and December 30, 2017, are as follows:
(Amounts in millions)
September 29,
2018
 
December 30,
2017
Trade and other accounts receivable
$
696.3

 
$
690.2

Allowances for doubtful accounts
(17.6
)
 
(14.6
)
Total trade and other accounts receivable – net
$
678.7

 
$
675.6
Components of Current Finance and Contract Receivables
The components of Snap-on’s current finance and contract receivables as of September 29, 2018, and December 30, 2017, are as follows:
(Amounts in millions)
September 29,
2018
 
December 30,
2017
Finance receivables, net of unearned finance charges of $21.4 million and $21.0 million, respectively
$
538.2

 
$
523.1

Contract receivables, net of unearned finance charges of $19.2 million and $17.6 million, respectively
106.9

 
98.1

Total
645.1

 
621.2

Allowances for doubtful accounts:
 
 
 
Finance receivables
(19.2
)
 
(17.7
)
Contract receivables
(1.3
)
 
(1.3
)
Total
(20.5
)
 
(19.0
)
Total current finance and contract receivables – net
$
624.6

 
$
602.2

 
 
 
 
Finance receivables – net
$
519.0

 
$
505.4

Contract receivables – net
105.6

 
96.8

Total current finance and contract receivables – net
$
624.6

 
$
602.2
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 September 29, 2018, and December 30, 2017, are as follows: 
(Amounts in millions)
September 29,
2018
 
December 30,
2017
Finance receivables, net of unearned finance charges of $17.3 million and $16.7 million, respectively
$
1,098.7

 
$
1,078.0

Contract receivables, net of unearned finance charges of $28.5 million and $25.5 million, respectively
341.4

 
325.9

Total
1,440.1

 
1,403.9

Allowances for doubtful accounts:
 
 
 
Finance receivables
(40.4
)
 
(38.8
)
Contract receivables
(3.3
)
 
(3.3
)
Total
(43.7
)
 
(42.1
)
Total long-term finance and contract receivables – net
$
1,396.4

 
$
1,361.8

 
 
 
 
Finance receivables – net
$
1,058.3

 
$
1,039.2

Contract receivables – net
338.1

 
322.6

Total long-term finance and contract receivables – net
$
1,396.4

 
$
1,361.8
Aging of Finance and Contract Receivables
The aging of finance and contract receivables as of September 29, 2018, and December 30, 2017, 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
September 29, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
Finance receivables
$
17.6

 
$
12.1

 
$
19.4

 
$
49.1

 
$
1,587.8

 
$
1,636.9

 
$
15.4

Contract receivables
1.8

 
1.4

 
3.8

 
7.0

 
441.3

 
448.3

 
0.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 30, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
 
Finance receivables
$
19.3

 
$
13.9

 
$
20.1

 
$
53.3

 
$
1,547.8

 
$
1,601.1

 
$
15.4

Contract receivables
1.2

 
0.6

 
1.9

 
3.7

 
420.3

 
424.0

 
0.6
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 September 29, 2018, and December 30, 2017, is as follows: 
 
September 29, 2018
 
December 30, 2017
(Amounts in millions)
Finance
Receivables
 
Contract
Receivables
 
Finance
Receivables
 
Contract
Receivables
Performing
$
1,609.1

 
$
443.6

 
$
1,573.1

 
$
421.7

Nonperforming
27.8

 
4.7

 
28.0

 
2.3

Total
$
1,636.9

 
$
448.3

 
$
1,601.1

 
$
424.0
Schedule of Finance and Contract Receivables on Nonaccrual Status
The amount of finance and contract receivables on nonaccrual status as of September 29, 2018, and December 30, 2017, is as follows: 
(Amounts in millions)
September 29,
2018
 
December 30,
2017
Finance receivables
$
12.4

 
$
12.6

Contract receivables
4.5

 
1.7
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 and nine months ended September 29, 2018, and September 30, 2017:
 
 
Three Months Ended
September 29, 2018
 
Nine Months Ended
September 29, 2018
(Amounts in millions)
Finance
Receivables
 
Contract
Receivables
 
Finance
Receivables
 
Contract
Receivables
Allowances for doubtful accounts:
 
 
 
 
 
 
 
Beginning of period
$
59.0

 
$
4.8

 
$
56.5

 
$
4.6

Provision
12.1

 
0.4

 
41.5

 
1.5

Charge-offs
(13.3
)
 
(0.7
)
 
(43.7
)
 
(1.8
)
Recoveries
1.7

 
0.1

 
5.3

 
0.3

Currency translation
0.1

 
—

 
—

 
—

End of period
$
59.6

 
$
4.6

 
$
59.6

 
$
4.6

 
 
 
 
 
 
 
 
 
Three Months Ended
September 30, 2017
 
Nine Months Ended
September 30, 2017
(Amounts in millions)
Finance
Receivables
 
Contract
Receivables
 
Finance
Receivables
 
Contract
Receivables
Allowances for doubtful accounts:
 
 
 
 
 
 
 
Beginning of period
$
52.5

 
$
4.8

 
$
48.6

 
$
3.9

Provision
12.8

 
0.8

 
38.6

 
2.7

Charge-offs
(12.6
)
 
(0.7
)
 
(38.0
)
 
(1.9
)
Recoveries
1.5

 
0.2

 
4.9

 
0.3

Currency translation
—

 
—

 
0.1

 
0.1

End of period
$
54.2

 
$
5.1

 
$
54.2

 
$
5.1