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v3.20.2

Revenue Recognition - (Tables) | 6 Months Ended
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Jun. 27, 2020
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following table shows the consolidated revenues by revenue source:
|  | Three Months Ended |  |  |  | Six Months Ended |  |
(Amounts in millions) |  | June 27, 2020 |  | June 29, 2019 |  | June 27, 2020 |  | June 29, 2019
Revenue from contracts with customers |  | $ | 718.4 |  |  | $ | 945.8 |  |  | $ | 1,565.0 |  |  | $ | 1,862.2 |
Other revenues |  | 5.9 |  |  | 5.5 |  |  | 11.5 |  |  | 10.8 |
Total net sales |  | 724.3 |  |  | 951.3 |  |  | 1,576.5 |  |  | 1,873.0 |
Financial services revenue |  | 84.6 |  |  | 84.1 |  |  | 170.5 |  |  | 169.7 |
Total revenues |  | $ | 808.9 |  |  | $ | 1,035.4 |  |  | $ | 1,747.0 |  |  | $ | 2,042.7 |
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 tables represent external net sales disaggregated by geography, based on the customers’ billing addresses:
|  | For the Three Months Ended June 27, 2020 |  |  |  |  |  |  |  |  |  |
|  | Commercial |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | & Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 96.9 |  |  | $ | 291.5 |  |  | $ | 148.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 536.9 |
Europe |  | 54.9 |  |  | 17.5 |  |  | 36.9 |  |  | — |  |  | — |  |  | 109.3 |
All other |  | 52.7 |  |  | 14.3 |  |  | 11.1 |  |  | — |  |  | — |  |  | 78.1 |
External net sales |  | 204.5 |  |  | 323.3 |  |  | 196.5 |  |  | — |  |  | — |  |  | 724.3 |
Intersegment net sales |  | 57.4 |  |  | — |  |  | 48.5 |  |  | — |  |  | (105.9) |  |  | — |
Total net sales |  | 261.9 |  |  | 323.3 |  |  | 245.0 |  |  | — |  |  | (105.9) |  |  | 724.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 84.6 |  |  | — |  |  | 84.6 |
Total revenue |  | $ | 261.9 |  |  | $ | 323.3 |  |  | $ | 245.0 |  |  | $ | 84.6 |  |  | $ | (105.9) |  |  | $ | 808.9 |
|  | For the Six Months Ended June 27, 2020 |  |  |  |  |  |  |  |  |  |
|  | Commercial |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | & Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 205.8 |  |  | $ | 618.4 |  |  | $ | 325.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,150.0 |
Europe |  | 122.0 |  |  | 48.6 |  |  | 93.5 |  |  | — |  |  | — |  |  | 264.1 |
All other |  | 103.7 |  |  | 32.2 |  |  | 26.5 |  |  | — |  |  | — |  |  | 162.4 |
External net sales |  | 431.5 |  |  | 699.2 |  |  | 445.8 |  |  | — |  |  | — |  |  | 1,576.5 |
Intersegment net sales |  | 130.3 |  |  | — |  |  | 113.8 |  |  | — |  |  | (244.1) |  |  | — |
Total net sales |  | 561.8 |  |  | 699.2 |  |  | 559.6 |  |  | — |  |  | (244.1) |  |  | 1,576.5 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 170.5 |  |  | — |  |  | 170.5 |
Total revenue |  | $ | 561.8 |  |  | $ | 699.2 |  |  | $ | 559.6 |  |  | $ | 170.5 |  |  | $ | (244.1) |  |  | $ | 1,747.0 |
* North America is comprised of the United States, Canada and Mexico. |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Three Months Ended June 29, 2019 |  |  |  |  |  |  |  |  |  |
|  | Commercial |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | & Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 121.6 |  |  | $ | 350.1 |  |  | $ | 202.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 674.0 |
Europe |  | 72.3 |  |  | 36.5 |  |  | 62.3 |  |  | — |  |  | — |  |  | 171.1 |
All other |  | 69.1 |  |  | 19.2 |  |  | 17.9 |  |  | — |  |  | — |  |  | 106.2 |
External net sales |  | 263.0 |  |  | 405.8 |  |  | 282.5 |  |  | — |  |  | — |  |  | 951.3 |
Intersegment net sales |  | 72.0 |  |  | — |  |  | 66.4 |  |  | — |  |  | (138.4) |  |  | — |
Total net sales |  | 335.0 |  |  | 405.8 |  |  | 348.9 |  |  | — |  |  | (138.4) |  |  | 951.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 84.1 |  |  | — |  |  | 84.1 |
Total revenue |  | $ | 335.0 |  |  | $ | 405.8 |  |  | $ | 348.9 |  |  | $ | 84.1 |  |  | $ | (138.4) |  |  | $ | 1,035.4 |
|  | For the Six Months Ended June 29, 2019 |  |  |  |  |  |  |  |  |  |
|  | Commercial |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | & Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 230.5 |  |  | $ | 701.7 |  |  | $ | 387.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,319.6 |
Europe |  | 149.7 |  |  | 73.4 |  |  | 121.8 |  |  | — |  |  | — |  |  | 344.9 |
All other |  | 132.3 |  |  | 40.9 |  |  | 35.3 |  |  | — |  |  | — |  |  | 208.5 |
External net sales |  | 512.5 |  |  | 816.0 |  |  | 544.5 |  |  | — |  |  | — |  |  | 1,873.0 |
Intersegment net sales |  | 145.0 |  |  | — |  |  | 132.3 |  |  | — |  |  | (277.3) |  |  | — |
Total net sales |  | 657.5 |  |  | 816.0 |  |  | 676.8 |  |  | — |  |  | (277.3) |  |  | 1,873.0 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 169.7 |  |  | — |  |  | 169.7 |
Total revenue |  | $ | 657.5 |  |  | $ | 816.0 |  |  | $ | 676.8 |  |  | $ | 169.7 |  |  | $ | (277.3) |  |  | $ | 2,042.7 |
* North America is comprised of the United States, Canada and Mexico. |  |  |  |  |  |  |  |  |  |  |  |
The following tables represent external net sales disaggregated by customer type:
|  | For the Three Months Ended June 27, 2020 |  |  |  |  |  |  |  |  |  |
|  | 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 |  | $ | 20.0 |  |  | $ | 323.3 |  |  | $ | 196.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 539.8 |
All other professionals |  | 184.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 184.5 |
External net sales |  | 204.5 |  |  | 323.3 |  |  | 196.5 |  |  | — |  |  | — |  |  | 724.3 |
Intersegment net sales |  | 57.4 |  |  | — |  |  | 48.5 |  |  | — |  |  | (105.9) |  |  | — |
Total net sales |  | 261.9 |  |  | 323.3 |  |  | 245.0 |  |  | — |  |  | (105.9) |  |  | 724.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 84.6 |  |  | — |  |  | 84.6 |
Total revenue |  | $ | 261.9 |  |  | $ | 323.3 |  |  | $ | 245.0 |  |  | $ | 84.6 |  |  | $ | (105.9) |  |  | $ | 808.9 |
|  | For the Six Months Ended June 27, 2020 |  |  |  |  |  |  |  |  |  |
|  | 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 |  | $ | 39.4 |  |  | $ | 699.2 |  |  | $ | 445.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,184.4 |
All other professionals |  | 392.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 392.1 |
External net sales |  | 431.5 |  |  | 699.2 |  |  | 445.8 |  |  | — |  |  | — |  |  | 1,576.5 |
Intersegment net sales |  | 130.3 |  |  | — |  |  | 113.8 |  |  | — |  |  | (244.1) |  |  | — |
Total net sales |  | 561.8 |  |  | 699.2 |  |  | 559.6 |  |  | — |  |  | (244.1) |  |  | 1,576.5 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 170.5 |  |  | — |  |  | 170.5 |
Total revenue |  | $ | 561.8 |  |  | $ | 699.2 |  |  | $ | 559.6 |  |  | $ | 170.5 |  |  | $ | (244.1) |  |  | $ | 1,747.0 |
|  | For the Three Months Ended June 29, 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 |  | $ | 24.0 |  |  | $ | 405.8 |  |  | $ | 282.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 712.3 |
All other professionals |  | 239.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 239.0 |
External net sales |  | 263.0 |  |  | 405.8 |  |  | 282.5 |  |  | — |  |  | — |  |  | 951.3 |
Intersegment net sales |  | 72.0 |  |  | — |  |  | 66.4 |  |  | — |  |  | (138.4) |  |  | — |
Total net sales |  | 335.0 |  |  | 405.8 |  |  | 348.9 |  |  | — |  |  | (138.4) |  |  | 951.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 84.1 |  |  | — |  |  | 84.1 |
Total revenue |  | $ | 335.0 |  |  | $ | 405.8 |  |  | $ | 348.9 |  |  | $ | 84.1 |  |  | $ | (138.4) |  |  | $ | 1,035.4 |
|  | For the Six Months Ended June 29, 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 |  | $ | 44.0 |  |  | $ | 816.0 |  |  | $ | 544.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,404.5 |
All other professionals |  | 468.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 468.5 |
External net sales |  | 512.5 |  |  | 816.0 |  |  | 544.5 |  |  | — |  |  | — |  |  | 1,873.0 |
Intersegment net sales |  | 145.0 |  |  | — |  |  | 132.3 |  |  | — |  |  | (277.3) |  |  | — |
Total net sales |  | 657.5 |  |  | 816.0 |  |  | 676.8 |  |  | — |  |  | (277.3) |  |  | 1,873.0 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 169.7 |  |  | — |  |  | 169.7 |
Total revenue |  | $ | 657.5 |  |  | $ | 816.0 |  |  | $ | 676.8 |  |  | $ | 169.7 |  |  | $ | (277.3) |  |  | $ | 2,042.7 |

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- 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=121604090&loc=SL49130545-203045 + Details
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