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Pension Plans | 3 Months Ended
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Apr. 03, 2021
Retirement Benefits [Abstract] |
Pension Plans | Pension Plans Snap-on’s net periodic pension cost included the following components:
| Three Months Ended |  |
(Amounts in millions) | April 3, 2021 |  | March 28, 2020 |  |  |  |
Service cost | $ | 7.5 |  |  | $ | 6.9 |  |  |  |  |
Interest cost | 10.6 |  |  | 12.1 |  |  |  |  |
Expected return on plan assets | (23.6) |  |  | (23.7) |  |  |  |  |
Amortization of unrecognized loss | 9.1 |  |  | 8.4 |  |  |  |  |
Net periodic pension cost | $ | 3.6 |  |  | $ | 3.7 |  |  |  |  |
The components of net periodic pension cost, other than the service cost component, are included in “Other income (expense) - net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 17 for additional information on other income (expense) - net. Snap-on intends to make contributions of $9.2 million to its foreign pension plans and $2.2 million to its domestic pension plans in 2021, as required by law. Depending on market and other conditions, Snap-on may make discretionary cash contributions to its pension plans in 2021.

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