XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.20.2

Leases | 9 Months Ended
--- | ---
Sep. 26, 2020
Leases [Abstract] |
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of September 26, 2020, and December 28, 2019 is as follows:
(Amounts in millions) | September 26, 2020 |  | December 28, 2019
Finance leases: |  |  |
Property and equipment - gross | $ | 10.0 |  |  | $ | 9.2 |
Accumulated depreciation and amortization | (2.8) |  |  | (1.5) |
Property and equipment - net | $ | 7.2 |  |  | $ | 7.7 |
Other accrued liabilities | $ | 2.7 |  |  | $ | 2.8 |
Other long-term liabilities | 8.2 |  |  | 10.0 |
Total finance lease liabilities | $ | 10.9 |  |  | $ | 12.8 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 51.0 |  |  | $ | 55.6 |
Other accrued liabilities | $ | 18.8 |  |  | $ | 19.5 |
Operating lease liabilities | 33.6 |  |  | 37.5 |
Total operating lease liabilities | $ | 52.4 |  |  | $ | 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 September 26, 2020, and December 28, 2019 is as follows:
(Amounts in millions) | September 26, 2020 |  | December 28, 2019
Finance leases: |  |  |
Property and equipment - gross | $ | 10.0 |  |  | $ | 9.2 |
Accumulated depreciation and amortization | (2.8) |  |  | (1.5) |
Property and equipment - net | $ | 7.2 |  |  | $ | 7.7 |
Other accrued liabilities | $ | 2.7 |  |  | $ | 2.8 |
Other long-term liabilities | 8.2 |  |  | 10.0 |
Total finance lease liabilities | $ | 10.9 |  |  | $ | 12.8 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 51.0 |  |  | $ | 55.6 |
Other accrued liabilities | $ | 18.8 |  |  | $ | 19.5 |
Operating lease liabilities | 33.6 |  |  | 37.5 |
Total operating lease liabilities | $ | 52.4 |  |  | $ | 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 September 26, 2020, and December 28, 2019 is as follows:
(Amounts in millions) | September 26, 2020 |  | December 28, 2019
Finance leases: |  |  |
Property and equipment - gross | $ | 10.0 |  |  | $ | 9.2 |
Accumulated depreciation and amortization | (2.8) |  |  | (1.5) |
Property and equipment - net | $ | 7.2 |  |  | $ | 7.7 |
Other accrued liabilities | $ | 2.7 |  |  | $ | 2.8 |
Other long-term liabilities | 8.2 |  |  | 10.0 |
Total finance lease liabilities | $ | 10.9 |  |  | $ | 12.8 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 51.0 |  |  | $ | 55.6 |
Other accrued liabilities | $ | 18.8 |  |  | $ | 19.5 |
Operating lease liabilities | 33.6 |  |  | 37.5 |
Total operating lease liabilities | $ | 52.4 |  |  | $ | 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.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_LessorSalesTypeLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration