XML 14 R2.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 30, 2019
Mar. 31, 2018
Net sales $ 1,007.3 $ 1,018.5
Operating earnings 249.5 234.6
Interest expense (12.5) (13.6)
Other income (expense) – net 1.5 2.8
Earnings before income taxes and equity earnings 238.5 223.8
Income tax expense (56.9) (57.6)
Earnings before equity earnings 181.6 166.2
Equity earnings, net of tax 0.5 0.6
Net earnings 182.1 166.8
Net earnings attributable to noncontrolling interests (4.2) (3.8)
Net earnings attributable to Snap-on Incorporated $ 177.9 $ 163.0
Net earnings per share attributable to Snap-on Incorporated:    
Basic (in dollars per share) $ 3.21 $ 2.87
Diluted (in dollars per share) $ 3.16 $ 2.82
Weighted-average shares outstanding:    
Basic (in shares) 55.5 56.7
Effect of dilutive securities (in shares) 0.8 1.1
Diluted (in shares) 56.3 57.8
Dividends declared per common share (in dollars per share) $ 0.95 $ 0.82
Excluding Financial Services    
Net sales $ 921.7 $ 935.5
Cost of goods sold (450.1) (463.9)
Gross profit 471.6 471.6
Operating expenses (284.2) (293.9)
Operating earnings 187.4 177.7
Financial Service    
Net sales 85.6 83.0
Cost of goods sold (23.5) (26.1)
Operating earnings $ 62.1 $ 56.9