XML 49 R38.htm IDEA: XBRL DOCUMENT v3.21.1

Stock-based Compensation and Other Stock Plans - (Tables)

3 Months Ended

Apr. 03, 2021

Share-based Payment Arrangement [Abstract]

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of stock options granted during the three months ended April 3, 2021, and March 28, 2020, using the Black-Scholes valuation model:

			Three Months Ended
			April 3, 2021						March 28, 2020
Expected term of option (in years)			5.33						5.53
Expected volatility factor			21.80%						21.67%
Expected dividend yield			2.59%						2.78%
Risk-free interest rate			0.67%						1.50%

Summary of Stock Option Activity

A summary of stock option activity as of and for the three months ended April 3, 2021, is presented below:

			Shares (in thousands)						Exercise Price Per Share*						Remaining Contractual Term* (in years)						Aggregate Intrinsic Value (in millions)
Outstanding at January 2, 2021			3,120						$	142.47
Granted			333						189.91
Exercised			(621)						149.90
Forfeited or expired			(1)						155.53
Outstanding at April 3, 2021			2,831						146.41						6.1						$	241.6
Exercisable at April 3, 2021			2,047						137.33						5.0						193.2

* Weighted-average

Summary of Changes in Non-Vested Performance Awards

Changes to the company’s non-vested PSUs and RSUs during the three months ended April 3, 2021, are as follows:

			Shares (in thousands)						Fair Value Price per Share*
Non-vested performance awards at January 2, 2021			76						$	155.61
Granted			121						188.72
Vested			—						—
Cancellations and other			—						—
Non-vested performance awards at April 3, 2021			197						175.90

* Weighted-average

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of stock-settled SARs granted during the three months ended April 3, 2021, and March 28, 2020, using the Black-Scholes valuation model:

			Three Months Ended
			April 3, 2021						March 28, 2020
Expected term of stock-settled SARs (in years)			3.94						3.75
Expected volatility factor			22.50%						22.50%
Expected dividend yield			2.59%						2.78%
Risk-free interest rate			0.19%						1.42%

The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during the three months ended April 3, 2021, and March 28, 2020, using the Black-Scholes valuation model:

			Three Months Ended
			April 3, 2021						March 28, 2020
Expected term of cash-settled SARs (in years)			3.83						3.66
Expected volatility factor			22.49%						27.06%
Expected dividend yield			2.12%						4.01%
Risk-free interest rate			0.39%						0.30%

Summary of Changes in SARs

Changes to the company’s stock-settled SARs during the three months ended April 3, 2021, are as follows:

			Stock-settled SARs (in thousands)						Exercise Price Per Share*						Remaining Contractual Term* (in years)						Aggregate Intrinsic Value (in millions)
Outstanding at January 2, 2021			502						$	151.59
Granted			83						189.89
Exercised			(38)						143.06
Forfeited or expired			(121)						152.09
Outstanding at April 3, 2021			426						159.64						7.3						$	30.7
Exercisable at April 3, 2021			255						151.29						6.0						20.5

* Weighted-average

Changes to the company’s non-vested cash-settled SARs during the three months ended April 3, 2021, are as follows:

			Cash-settled SARs (in thousands)						Fair Value Price per Share*
Non-vested cash-settled SARs at January 2, 2021			2						$	36.99
Granted			1						24.05
Vested			(1)						69.68
Non-vested cash-settled SARs at April 3, 2021			2						47.56

* Weighted-average

X

- Definition

Share-based compensation arrangement by share-based payment award, fair value assumptions.

+ References

No definition available.

+ Details

Name:	sna_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTableTextBlock
Namespace Prefix:	sna_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested performance-based units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration