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v3.20.1

Leases | 3 Months Ended
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Mar. 28, 2020
Leases [Abstract] |
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of March 28, 2020, and December 28, 2019 is as follows:
(Amounts in millions) | March 28, 2020 |  | December 28, 2019
Finance leases: |  |  |
Property and equipment - gross | $ | 9.0 |  |  | $ | 9.2 |
Accumulated depreciation and amortization | (1.8) |  |  | (1.5) |
Property and equipment - net | $ | 7.2 |  |  | $ | 7.7 |
Other accrued liabilities | $ | 2.8 |  |  | $ | 2.8 |
Other long-term liabilities | 9.1 |  |  | 10.0 |
Total finance lease liabilities | $ | 11.9 |  |  | $ | 12.8 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 51.3 |  |  | $ | 55.6 |
Other accrued liabilities | $ | 17.9 |  |  | $ | 19.5 |
Operating lease liabilities | 34.7 |  |  | 37.5 |
Total operating lease liabilities | $ | 52.6 |  |  | $ | 57.0 |
Lessor Accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics and equipment products and it offers financing to franchisees for vehicle leases. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” and also in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for further information on finance and contract receivables.
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of March 28, 2020, and December 28, 2019 is as follows:
(Amounts in millions) | March 28, 2020 |  | December 28, 2019
Finance leases: |  |  |
Property and equipment - gross | $ | 9.0 |  |  | $ | 9.2 |
Accumulated depreciation and amortization | (1.8) |  |  | (1.5) |
Property and equipment - net | $ | 7.2 |  |  | $ | 7.7 |
Other accrued liabilities | $ | 2.8 |  |  | $ | 2.8 |
Other long-term liabilities | 9.1 |  |  | 10.0 |
Total finance lease liabilities | $ | 11.9 |  |  | $ | 12.8 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 51.3 |  |  | $ | 55.6 |
Other accrued liabilities | $ | 17.9 |  |  | $ | 19.5 |
Operating lease liabilities | 34.7 |  |  | 37.5 |
Total operating lease liabilities | $ | 52.6 |  |  | $ | 57.0 |
Lessor Accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics and equipment products and it offers financing to franchisees for vehicle leases. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” and also in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for further information on finance and contract receivables.
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of March 28, 2020, and December 28, 2019 is as follows:
(Amounts in millions) | March 28, 2020 |  | December 28, 2019
Finance leases: |  |  |
Property and equipment - gross | $ | 9.0 |  |  | $ | 9.2 |
Accumulated depreciation and amortization | (1.8) |  |  | (1.5) |
Property and equipment - net | $ | 7.2 |  |  | $ | 7.7 |
Other accrued liabilities | $ | 2.8 |  |  | $ | 2.8 |
Other long-term liabilities | 9.1 |  |  | 10.0 |
Total finance lease liabilities | $ | 11.9 |  |  | $ | 12.8 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 51.3 |  |  | $ | 55.6 |
Other accrued liabilities | $ | 17.9 |  |  | $ | 19.5 |
Operating lease liabilities | 34.7 |  |  | 37.5 |
Total operating lease liabilities | $ | 52.6 |  |  | $ | 57.0 |
Lessor Accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics and equipment products and it offers financing to franchisees for vehicle leases. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” and also in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for further information on finance and contract receivables.

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