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Revenue Recognition - (Tables)

3 Months Ended

Apr. 03, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table shows the consolidated revenues by revenue source:

			Three Months Ended
(Amounts in millions)			April 3, 2021						March 28, 2020
Revenue from contracts with customers			$	1,018.8					$	846.6
Other revenues			5.8						5.6
Total net sales			1,024.6						852.2
Financial services revenue			88.6						85.9
Total revenues			$	1,113.2					$	938.1

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 April 3, 2021
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	118.0					$	408.1					$	200.9					$	—					$	—					$	727.0
Europe						84.3						44.2						60.6						—						—						189.1
All other						68.8						26.0						13.7						—						—						108.5
External net sales						271.1						478.3						275.2						—						—						1,024.6
Intersegment net sales						74.6						—						72.4						—						(147.0)						—
Total net sales						345.7						478.3						347.6						—						(147.0)						1,024.6
Financial services revenue						—						—						—						88.6						—						88.6
Total revenue						$	345.7					$	478.3					$	347.6					$	88.6					$	(147.0)					$	1,113.2

						For the Three Months Ended March 28, 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*						$	108.9					$	326.9					$	177.3					$	—					$	—					$	613.1
Europe						67.1						31.1						56.6						—						—						154.8
All other						51.0						17.9						15.4						—						—						84.3
External net sales						227.0						375.9						249.3						—						—						852.2
Intersegment net sales						72.9						—						65.3						—						(138.2)						—
Total net sales						299.9						375.9						314.6						—						(138.2)						852.2
Financial services revenue						—						—						—						85.9						—						85.9
Total revenue						$	299.9					$	375.9					$	314.6					$	85.9					$	(138.2)					$	938.1
* 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 April 3, 2021
						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						$	24.1					$	478.3					$	275.2					$	—					$	—					$	777.6
All other professionals						247.0						—						—						—						—						247.0
External net sales						271.1						478.3						275.2						—						—						1,024.6
Intersegment net sales						74.6						—						72.4						—						(147.0)						—
Total net sales						345.7						478.3						347.6						—						(147.0)						1,024.6
Financial services revenue						—						—						—						88.6						—						88.6
Total revenue						$	345.7					$	478.3					$	347.6					$	88.6					$	(147.0)					$	1,113.2

						For the Three Months Ended March 28, 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						$	19.4					$	375.9					$	249.3					$	—					$	—					$	644.6
All other professionals						207.6						—						—						—						—						207.6
External net sales						227.0						375.9						249.3						—						—						852.2
Intersegment net sales						72.9						—						65.3						—						(138.2)						—
Total net sales						299.9						375.9						314.6						—						(138.2)						852.2
Financial services revenue						—						—						—						85.9						—						85.9
Total revenue						$	299.9					$	375.9					$	314.6					$	85.9					$	(138.2)					$	938.1

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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

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- References

No definition available.

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