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Condensed Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Jul. 03, 2021
Jun. 27, 2020
Net sales $ 1,168.3 $ 808.9 $ 2,281.5 $ 1,747.0
Operating earnings 286.0 148.7 552.2 344.5
Interest expense (14.3) (13.4) (28.6) (24.8)
Other income (expense) – net 3.4 2.0 7.7 3.5
Earnings before income taxes and equity earnings 275.1 137.3 531.3 323.2
Income tax expense (62.9) (31.9) (122.0) (75.8)
Earnings before equity earnings 212.2 105.4 409.3 247.4
Equity earnings, net of tax 1.0 0.5 1.5 0.5
Net earnings 213.2 105.9 410.8 247.9
Net earnings attributable to noncontrolling interests (5.2) (4.7) (10.2) (9.5)
Net earnings attributable to Snap-on Incorporated $ 208.0 $ 101.2 $ 400.6 $ 238.4
Net earnings per share attributable to Snap-on Incorporated:        
Basic (in dollars per share) $ 3.85 $ 1.86 $ 7.40 $ 4.37
Diluted (in dollars per share) $ 3.76 $ 1.85 $ 7.26 $ 4.34
Weighted-average shares outstanding:        
Basic (in shares) 54.0 54.4 54.1 54.5
Effect of dilutive securities (in shares) 1.3 0.4 1.1 0.4
Diluted (in shares) 55.3 54.8 55.2 54.9
Dividends declared per common share (in dollars per share) $ 1.23 $ 1.08 $ 2.46 $ 2.16
Excluding Financial Services        
Net sales $ 1,081.4 $ 724.3 $ 2,106.0 $ 1,576.5
Cost of goods sold (538.3) (383.1) (1,049.3) (813.7)
Gross profit 543.1 341.2 1,056.7 762.8
Operating expenses (326.0) (250.1) (638.7) (532.8)
Operating earnings 217.1 91.1 418.0 230.0
Financial Service        
Net sales 86.9 84.6 175.5 170.5
Cost of goods sold (18.0) (27.0) (41.3) (56.0)
Operating earnings $ 68.9 $ 57.6 $ 134.2 $ 114.5