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Commitments and Contingencies - (Tables)

6 Months Ended

Jul. 03, 2021

Commitments and Contingencies Disclosure [Abstract]

Summary of Product Warranty Accrual Activity

Snap-on’s product warranty accrual activity for the three and six months ended July 3, 2021, and June 27, 2020, is as follows:

			Three Months Ended												Six Months Ended
(Amounts in millions)			July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Warranty reserve:
Beginning of period			$	18.3					$	17.2					$	17.6					$	17.3
Additions			3.8						2.3						7.9						6.0
Usage			(3.6)						(2.3)						(7.0)						(6.1)
End of period			$	18.5					$	17.2					$	18.5					$	17.2

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- References

No definition available.

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123368208&loc=d3e12565-110249

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