XML 30 R18.htm IDEA: XBRL DOCUMENT v3.19.1
Pension Plans
3 Months Ended
Mar. 30, 2019
Retirement Benefits [Abstract]  
Pension Plans
Pension Plans
Snap-on’s net periodic pension cost included the following components: 
 
Three Months Ended
(Amounts in millions)
March 30, 2019
 
March 31, 2018
Service cost
$
6.0

 
$
6.5

Interest cost
14.1

 
13.2

Expected return on plan assets
(22.4
)
 
(21.7
)
Amortization of unrecognized loss
6.2

 
8.0

Amortization of prior service credit
(0.2
)
 
(0.3
)
Net periodic pension cost
$
3.7

 
$
5.7


The components of net periodic pension cost, other than the service cost component, are included in “Other income (expense) - net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 16 for additional information on other income (expense) - net.
Snap-on intends to make contributions of $9.4 million to its foreign pension plans and $2.0 million to its domestic pension plans in 2019, as required by law. In the first three months of 2019, Snap-on made $10.4 million of cash contributions to its domestic pension plans consisting of (i) $10.0 million of discretionary contributions and (ii) $0.4 million of required contributions. Depending on market and other conditions, Snap-on may make additional discretionary cash contributions to its pension plans in 2019.