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v3.21.1

Leases | 3 Months Ended
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Apr. 03, 2021
Leases [Abstract] |
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of April 3, 2021, and January 2, 2021 is as follows:
(Amounts in millions) | April 3, 2021 |  | January 2, 2021
Finance leases: |  |  |
Property and equipment - gross | $ | 22.9 |  |  | $ | 24.3 |
Accumulated depreciation and amortization | (16.9) |  |  | (17.5) |
Property and equipment - net | $ | 6.0 |  |  | $ | 6.8 |
Other accrued liabilities | $ | 2.6 |  |  | $ | 2.7 |
Other long-term liabilities | 6.5 |  |  | 7.4 |
Total finance lease liabilities | $ | 9.1 |  |  | $ | 10.1 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 49.9 |  |  | $ | 51.9 |
Other accrued liabilities | $ | 19.3 |  |  | $ | 19.3 |
Operating lease liabilities | 32.0 |  |  | 34.0 |
Total operating lease liabilities | $ | 51.3 |  |  | $ | 53.3 |
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 April 3, 2021, and January 2, 2021 is as follows:
(Amounts in millions) | April 3, 2021 |  | January 2, 2021
Finance leases: |  |  |
Property and equipment - gross | $ | 22.9 |  |  | $ | 24.3 |
Accumulated depreciation and amortization | (16.9) |  |  | (17.5) |
Property and equipment - net | $ | 6.0 |  |  | $ | 6.8 |
Other accrued liabilities | $ | 2.6 |  |  | $ | 2.7 |
Other long-term liabilities | 6.5 |  |  | 7.4 |
Total finance lease liabilities | $ | 9.1 |  |  | $ | 10.1 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 49.9 |  |  | $ | 51.9 |
Other accrued liabilities | $ | 19.3 |  |  | $ | 19.3 |
Operating lease liabilities | 32.0 |  |  | 34.0 |
Total operating lease liabilities | $ | 51.3 |  |  | $ | 53.3 |
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 April 3, 2021, and January 2, 2021 is as follows:
(Amounts in millions) | April 3, 2021 |  | January 2, 2021
Finance leases: |  |  |
Property and equipment - gross | $ | 22.9 |  |  | $ | 24.3 |
Accumulated depreciation and amortization | (16.9) |  |  | (17.5) |
Property and equipment - net | $ | 6.0 |  |  | $ | 6.8 |
Other accrued liabilities | $ | 2.6 |  |  | $ | 2.7 |
Other long-term liabilities | 6.5 |  |  | 7.4 |
Total finance lease liabilities | $ | 9.1 |  |  | $ | 10.1 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 49.9 |  |  | $ | 51.9 |
Other accrued liabilities | $ | 19.3 |  |  | $ | 19.3 |
Operating lease liabilities | 32.0 |  |  | 34.0 |
Total operating lease liabilities | $ | 51.3 |  |  | $ | 53.3 |
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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