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Receivables - (Tables) | 12 Months Ended
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Dec. 29, 2018
Receivables [Abstract] |
Components of Trade and Other Accounts Receivable | The components of Snap-on’s trade and other accounts receivable as of 2018 and 2017 year end are as follows:
(Amounts in millions) |  | 2018 |  | 2017
Trade and other accounts receivable |  | $ | 710.1 |  |  | $ | 690.2 |
Allowances for doubtful accounts |  | (17.5 | ) |  | (14.6 | )
Total trade and other accounts receivable – net |  | $ | 692.6 |  |  | $ | 675.6 |
Components of Current Finance and Contract Receivables | The components of Snap-on’s current finance and contract receivables as of 2018 and 2017 year end are as follows:
(Amounts in millions) |  | 2018 |  | 2017
Finance receivables |  | $ | 538.1 |  |  | $ | 523.1 |
Contract receivables |  | 99.5 |  |  | 98.1 |
Total |  | 637.6 |  |  | 621.2 |
Allowances for doubtful accounts: |  |  |  |
Finance receivables |  | (19.6 | ) |  | (17.7 | )
Contract receivables |  | (1.2 | ) |  | (1.3 | )
Total |  | (20.8 | ) |  | (19.0 | )
Total current finance and contract receivables – net |  | $ | 616.8 |  |  | $ | 602.2 |
Finance receivables – net |  | $ | 518.5 |  |  | $ | 505.4 |
Contract receivables – net |  | 98.3 |  |  | 96.8 |
Total current finance and contract receivables – net |  | $ | 616.8 |  |  | $ | 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 2018 and 2017 year end are as follows:
(Amounts in millions) |  | 2018 |  | 2017
Finance receivables |  | $ | 1,116.2 |  |  | $ | 1,078.0 |
Contract receivables |  | 348.0 |  |  | 325.9 |
Total |  | 1,464.2 |  |  | 1,403.9 |
Allowances for doubtful accounts: |  |  |  |
Finance receivables |  | (41.8 | ) |  | (38.8 | )
Contract receivables |  | (3.1 | ) |  | (3.3 | )
Total |  | (44.9 | ) |  | (42.1 | )
Total long-term finance and contract receivables – net |  | $ | 1,419.3 |  |  | $ | 1,361.8 |
Finance receivables – net |  | $ | 1,074.4 |  |  | $ | 1,039.2 |
Contract receivables – net |  | 344.9 |  |  | 322.6 |
Total long-term finance and contract receivables – net |  | $ | 1,419.3 |  |  | $ | 1,361.8 |
Schedule of Long-Term Finance and Contract Receivables | Long-term finance and contract receivables installments, net of unearned finance charges, as of 2018 and 2017 year end are scheduled as follows:
|  | 2018 |  | 2017
(Amounts in millions) |  | Finance Receivables |  | Contract Receivables |  | Finance Receivables |  | Contract Receivables
Due in Months: |  |  |  |  |  |  |  |
13 – 24 |  | $ | 428.7 |  |  | $ | 82.2 |  |  | $ | 415.1 |  |  | $ | 77.6 |
25 – 36 |  | 345.0 |  |  | 72.5 |  |  | 333.3 |  |  | 67.6 |
37 – 48 |  | 232.8 |  |  | 60.5 |  |  | 225.5 |  |  | 56.5 |
49 – 60 |  | 109.7 |  |  | 48.8 |  |  | 104.1 |  |  | 42.8 |
Thereafter |  | — |  |  | 84.0 |  |  | — |  |  | 81.4 |
Total |  | $ | 1,116.2 |  |  | $ | 348.0 |  |  | $ | 1,078.0 |  |  | $ | 325.9 |
Aging of Finance and Contract Receivables | The aging of finance and contract receivables as of 2018 and 2017 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
2018 year end: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables |  | $ | 19.4 |  |  | $ | 12.1 |  |  | $ | 20.3 |  |  | $ | 51.8 |  |  | $ | 1,602.5 |  |  | $ | 1,654.3 |  |  | $ | 15.9 |
Contract receivables |  | 1.7 |  |  | 1.2 |  |  | 5.2 |  |  | 8.1 |  |  | 439.4 |  |  | 447.5 |  |  | 0.2 |
2017 year end: |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 2018 and 2017 year end is as follows:
|  | 2018 |  | 2017
(Amounts in millions) |  | Finance Receivables |  | Contract Receivables |  | Finance Receivables |  | Contract Receivables
Performing |  | $ | 1,626.4 |  |  | $ | 441.5 |  |  | $ | 1,573.1 |  |  | $ | 421.7 |
Nonperforming |  | 27.9 |  |  | 6.0 |  |  | 28.0 |  |  | 2.3 |
Total |  | $ | 1,654.3 |  |  | $ | 447.5 |  |  | $ | 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 2018 and 2017 year end is as follows:
(Amounts in millions) |  | 2018 |  | 2017
Finance receivables |  | $ | 12.0 |  |  | $ | 12.6 |
Contract receivables |  | 5.8 |  |  | 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 2018 and 2017:
|  | 2018 |  | 2017
(Amounts in millions) |  | Finance Receivables |  | Contract Receivables |  | Finance Receivables |  | Contract Receivables
Allowances for doubtful accounts: |  |  |  |  |  |  |  |
Beginning of year |  | $ | 56.5 |  |  | $ | 4.6 |  |  | $ | 48.6 |  |  | $ | 3.9 |
Provision |  | 57.5 |  |  | 2.0 |  |  | 54.6 |  |  | 2.7 |
Charge-offs |  | (59.4 | ) |  | (2.5 | ) |  | (53.3 | ) |  | (2.5 | )
Recoveries |  | 7.1 |  |  | 0.4 |  |  | 6.6 |  |  | 0.4 |
Currency translation |  | (0.3 | ) |  | (0.2 | ) |  | — |  |  | 0.1 |
End of year |  | $ | 61.4 |  |  | $ | 4.3 |  |  | $ | 56.5 |  |  | $ | 4.6 |
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 2018, 2017 and 2016:
(Amounts in millions) |  | Balance at Beginning of Year |  | Expenses |  | Deductions (1) |  | Balance at End of Year
Allowances for doubtful accounts: |  |  |  |  |  |  |  |
2018 |  | $ | 75.7 |  |  | $ | 70.3 |  |  | $ | (62.8 | ) |  | $ | 83.2 |
2017 |  | 66.5 |  |  | 65.1 |  |  | (55.9 | ) |  | 75.7 |
2016 |  | 59.3 |  |  | 51.5 |  |  | (44.3 | ) |  | 66.5 |
(1) Represents write-offs of bad debts, net of recoveries, and the net impact of currency translation.

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