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Revenue Recognition - (Tables)

9 Months Ended

Sep. 28, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table shows the consolidated revenues by revenue source:

						Three Months Ended																		Nine Months Ended
(Amounts in millions)						September 28, 2019						September 29, 2018						September 28, 2019						September 29, 2018
Revenue from contracts with customers						$	896.2					$	892.7					$	2,758.4					$	2,772.3
Other revenues						5.6						5.4						16.4						15.9
Total net sales						901.8						898.1						2,774.8						2,788.2
Financial services revenue						84.1						82.0						253.8						247.0
Total revenues						$	985.9					$	980.1					$	3,028.6					$	3,035.2

Snap-on evaluates the performance of its operating segments based on segment revenues, including both external and intersegment net sales, and segment operating earnings. Snap-on accounts for both intersegment sales and transfers based primarily on standard costs with reasonable mark-ups established between the segments. Intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results.

The following table represents external net sales disaggregated by geography, based on the customers’ billing addresses:

						For the Three Months Ended September 28, 2019
						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*						$	125.3					$	337.6					$	188.3					$	—					$	—					$	651.2
Europe						65.1						28.3						54.6						—						—						148.0
All other						66.6						19.3						16.7						—						—						102.6
External net sales						257.0						385.2						259.6						—						—						901.8
Intersegment net sales						78.3						—						63.1						—						(141.4)						—
Total net sales						335.3						385.2						322.7						—						(141.4)						901.8
Financial services revenue						—						—						—						84.1						—						84.1
Total revenue						$	335.3					$	385.2					$	322.7					$	84.1					$	(141.4)					$	985.9
* North America is comprised of the United States, Canada and Mexico.

						For the Nine Months Ended September 28, 2019
						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*						$	355.8					$	1,039.3					$	575.7					$	—					$	—					$	1,970.8
Europe						214.8						101.7						176.4						—						—						492.9
All other						198.9						60.2						52.0						—						—						311.1
External net sales						769.5						1,201.2						804.1						—						—						2,774.8
Intersegment net sales						223.3						—						195.4						—						(418.7)						—
Total net sales						992.8						1,201.2						999.5						—						(418.7)						2,774.8
Financial services revenue						—						—						—						253.8						—						253.8
Total revenue						$	992.8					$	1,201.2					$	999.5					$	253.8					$	(418.7)					$	3,028.6

						For the Three Months Ended September 29, 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*						$	119.9					$	335.4					$	177.6					$	—					$	—					$	632.9
Europe						70.4						32.0						57.6						—						—						160.0
All other						65.4						22.4						17.4						—						—						105.2
External net sales						255.7						389.8						252.6						—						—						898.1
Intersegment net sales						74.5						—						61.8						—						(136.3)						—
Total net sales						330.2						389.8						314.4						—						(136.3)						898.1
Financial services revenue						—						—						—						82.0						—						82.0
Total revenue						$	330.2					$	389.8					$	314.4					$	82.0					$	(136.3)					$	980.1

						For the Nine Months Ended September 29, 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*						$	345.7					$	1,020.5					$	552.3					$	—					$	—					$	1,918.5
Europe						229.9						117.2						192.8						—						—						539.9
All other						206.0						68.7						55.1						—						—						329.8
External net sales						781.6						1,206.4						800.2						—						—						2,788.2
Intersegment net sales						218.0						—						194.3						—						(412.3)						—
Total net sales						999.6						1,206.4						994.5						—						(412.3)						2,788.2
Financial services revenue						—						—						—						247.0						—						247.0
Total revenue						$	999.6					$	1,206.4					$	994.5					$	247.0					$	(412.3)					$	3,035.2
* 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 September 28, 2019
						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						$	20.8					$	385.2					$	259.6					$	—					$	—					$	665.6
All other professionals						236.2						—						—						—						—						236.2
External net sales						257.0						385.2						259.6						—						—						901.8
Intersegment net sales						78.3						—						63.1						—						(141.4)						—
Total net sales						335.3						385.2						322.7						—						(141.4)						901.8
Financial services revenue						—						—						—						84.1						—						84.1
Total revenue						$	335.3					$	385.2					$	322.7					$	84.1					$	(141.4)					$	985.9

						For the Nine Months Ended September 28, 2019
						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						$	64.8					$	1,201.2					$	804.1					$	—					$	—					$	2,070.1
All other professionals						704.7						—						—						—						—						704.7
External net sales						769.5						1,201.2						804.1						—						—						2,774.8
Intersegment net sales						223.3						—						195.4						—						(418.7)						—
Total net sales						992.8						1,201.2						999.5						—						(418.7)						2,774.8
Financial services revenue						—						—						—						253.8						—						253.8
Total revenue						$	992.8					$	1,201.2					$	999.5					$	253.8					$	(418.7)					$	3,028.6

						For the Three Months Ended September 29, 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						$	21.4					$	389.8					$	252.6					$	—					$	—					$	663.8
All other professionals						234.3						—						—						—						—						234.3
External net sales						255.7						389.8						252.6						—						—						898.1
Intersegment net sales						74.5						—						61.8						—						(136.3)						—
Total net sales						330.2						389.8						314.4						—						(136.3)						898.1
Financial services revenue						—						—						—						82.0						—						82.0
Total revenue						$	330.2					$	389.8					$	314.4					$	82.0					$	(136.3)					$	980.1

						For the Nine Months Ended September 29, 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						$	69.5					$	1,206.4					$	800.2					$	—					$	—					$	2,076.1
All other professionals						712.1						—						—						—						—						712.1
External net sales						781.6						1,206.4						800.2						—						—						2,788.2
Intersegment net sales						218.0						—						194.3						—						(412.3)						—
Total net sales						999.6						1,206.4						994.5						—						(412.3)						2,788.2
Financial services revenue						—						—						—						247.0						—						247.0
Total revenue						$	999.6					$	1,206.4					$	994.5					$	247.0					$	(412.3)					$	3,035.2

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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

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- References

No definition available.

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