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v3.21.2

Revenue Recognition - (Tables) | 9 Months Ended
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Oct. 02, 2021
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following table shows the consolidated revenues by revenue source:
| Three Months Ended |  | Nine Months Ended
(Amounts in millions) | October 2, 2021 |  | September 26, 2020 |  | October 2, 2021 |  | September 26, 2020
Revenue from contracts with customers | $ | 1,031.6 |  |  | $ | 935.8 |  |  | $ | 3,125.7 |  |  | $ | 2,500.8 |
Other revenues | 6.1 |  |  | 5.8 |  |  | 18.0 |  |  | 17.3 |
Total net sales | 1,037.7 |  |  | 941.6 |  |  | 3,143.7 |  |  | 2,518.1 |
Financial services revenue | 87.3 |  |  | 85.8 |  |  | 262.8 |  |  | 256.3 |
Total revenues | $ | 1,125.0 |  |  | $ | 1,027.4 |  |  | $ | 3,406.5 |  |  | $ | 2,774.4 |
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 October 2, 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* |  | $ | 128.3 |  |  | $ | 407.4 |  |  | $ | 217.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 753.2 |
Europe |  | 76.9 |  |  | 40.3 |  |  | 58.7 |  |  | — |  |  | — |  |  | 175.9 |
All other |  | 66.5 |  |  | 23.7 |  |  | 18.4 |  |  | — |  |  | — |  |  | 108.6 |
External net sales |  | 271.7 |  |  | 471.4 |  |  | 294.6 |  |  | — |  |  | — |  |  | 1,037.7 |
Intersegment net sales |  | 79.7 |  |  | — |  |  | 69.8 |  |  | — |  |  | (149.5) |  |  | — |
Total net sales |  | 351.4 |  |  | 471.4 |  |  | 364.4 |  |  | — |  |  | (149.5) |  |  | 1,037.7 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 87.3 |  |  | — |  |  | 87.3 |
Total revenue |  | $ | 351.4 |  |  | $ | 471.4 |  |  | $ | 364.4 |  |  | $ | 87.3 |  |  | $ | (149.5) |  |  | $ | 1,125.0 |
|  | For the Nine Months Ended October 2, 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* |  | $ | 372.9 |  |  | $ | 1,231.8 |  |  | $ | 655.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,259.9 |
Europe |  | 240.4 |  |  | 128.3 |  |  | 185.8 |  |  | — |  |  | — |  |  | 554.5 |
All other |  | 204.2 |  |  | 73.7 |  |  | 51.4 |  |  | — |  |  | — |  |  | 329.3 |
External net sales |  | 817.5 |  |  | 1,433.8 |  |  | 892.4 |  |  | — |  |  | — |  |  | 3,143.7 |
Intersegment net sales |  | 230.1 |  |  | — |  |  | 218.2 |  |  | — |  |  | (448.3) |  |  | — |
Total net sales |  | 1,047.6 |  |  | 1,433.8 |  |  | 1,110.6 |  |  | — |  |  | (448.3) |  |  | 3,143.7 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 262.8 |  |  | — |  |  | 262.8 |
Total revenue |  | $ | 1,047.6 |  |  | $ | 1,433.8 |  |  | $ | 1,110.6 |  |  | $ | 262.8 |  |  | $ | (448.3) |  |  | $ | 3,406.5 |
* North America is comprised of the United States, Canada and Mexico. |  |  |  |  |  |  |  |
|  | For the Three Months Ended September 26, 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* |  | $ | 103.9 |  |  | $ | 389.2 |  |  | $ | 186.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 679.1 |
Europe |  | 66.8 |  |  | 38.6 |  |  | 54.9 |  |  | — |  |  | — |  |  | 160.3 |
All other |  | 65.0 |  |  | 22.0 |  |  | 15.2 |  |  | — |  |  | — |  |  | 102.2 |
External net sales |  | 235.7 |  |  | 449.8 |  |  | 256.1 |  |  | — |  |  | — |  |  | 941.6 |
Intersegment net sales |  | 72.7 |  |  | — |  |  | 61.4 |  |  | — |  |  | (134.1) |  |  | — |
Total net sales |  | 308.4 |  |  | 449.8 |  |  | 317.5 |  |  | — |  |  | (134.1) |  |  | 941.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 85.8 |  |  | — |  |  | 85.8 |
Total revenue |  | $ | 308.4 |  |  | $ | 449.8 |  |  | $ | 317.5 |  |  | $ | 85.8 |  |  | $ | (134.1) |  |  | $ | 1,027.4 |
|  | For the Nine Months Ended September 26, 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* |  | $ | 309.7 |  |  | $ | 1,007.6 |  |  | $ | 511.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,829.1 |
Europe |  | 188.8 |  |  | 87.2 |  |  | 148.4 |  |  | — |  |  | — |  |  | 424.4 |
All other |  | 168.7 |  |  | 54.2 |  |  | 41.7 |  |  | — |  |  | — |  |  | 264.6 |
External net sales |  | 667.2 |  |  | 1,149.0 |  |  | 701.9 |  |  | — |  |  | — |  |  | 2,518.1 |
Intersegment net sales |  | 203.0 |  |  | — |  |  | 175.2 |  |  | — |  |  | (378.2) |  |  | — |
Total net sales |  | 870.2 |  |  | 1,149.0 |  |  | 877.1 |  |  | — |  |  | (378.2) |  |  | 2,518.1 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 256.3 |  |  | — |  |  | 256.3 |
Total revenue |  | $ | 870.2 |  |  | $ | 1,149.0 |  |  | $ | 877.1 |  |  | $ | 256.3 |  |  | $ | (378.2) |  |  | $ | 2,774.4 |
* 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 October 2, 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 |  | $ | 24.3 |  |  | $ | 471.4 |  |  | $ | 294.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 790.3 |
All other professionals |  | 247.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 247.4 |
External net sales |  | 271.7 |  |  | 471.4 |  |  | 294.6 |  |  | — |  |  | — |  |  | 1,037.7 |
Intersegment net sales |  | 79.7 |  |  | — |  |  | 69.8 |  |  | — |  |  | (149.5) |  |  | — |
Total net sales |  | 351.4 |  |  | 471.4 |  |  | 364.4 |  |  | — |  |  | (149.5) |  |  | 1,037.7 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 87.3 |  |  | — |  |  | 87.3 |
Total revenue |  | $ | 351.4 |  |  | $ | 471.4 |  |  | $ | 364.4 |  |  | $ | 87.3 |  |  | $ | (149.5) |  |  | $ | 1,125.0 |
|  | For the Nine Months Ended October 2, 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 |  | $ | 74.1 |  |  | $ | 1,433.8 |  |  | $ | 892.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,400.3 |
All other professionals |  | 743.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 743.4 |
External net sales |  | 817.5 |  |  | 1,433.8 |  |  | 892.4 |  |  | — |  |  | — |  |  | 3,143.7 |
Intersegment net sales |  | 230.1 |  |  | — |  |  | 218.2 |  |  | — |  |  | (448.3) |  |  | — |
Total net sales |  | 1,047.6 |  |  | 1,433.8 |  |  | 1,110.6 |  |  | — |  |  | (448.3) |  |  | 3,143.7 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 262.8 |  |  | — |  |  | 262.8 |
Total revenue |  | $ | 1,047.6 |  |  | $ | 1,433.8 |  |  | $ | 1,110.6 |  |  | $ | 262.8 |  |  | $ | (448.3) |  |  | $ | 3,406.5 |
|  | For the Three Months Ended September 26, 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 |  | $ | 22.3 |  |  | $ | 449.8 |  |  | $ | 256.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 728.2 |
All other professionals |  | 213.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 213.4 |
External net sales |  | 235.7 |  |  | 449.8 |  |  | 256.1 |  |  | — |  |  | — |  |  | 941.6 |
Intersegment net sales |  | 72.7 |  |  | — |  |  | 61.4 |  |  | — |  |  | (134.1) |  |  | — |
Total net sales |  | 308.4 |  |  | 449.8 |  |  | 317.5 |  |  | — |  |  | (134.1) |  |  | 941.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 85.8 |  |  | — |  |  | 85.8 |
Total revenue |  | $ | 308.4 |  |  | $ | 449.8 |  |  | $ | 317.5 |  |  | $ | 85.8 |  |  | $ | (134.1) |  |  | $ | 1,027.4 |
|  | For the Nine Months Ended September 26, 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 |  | $ | 61.7 |  |  | $ | 1,149.0 |  |  | $ | 701.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,912.6 |
All other professionals |  | 605.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 605.5 |
External net sales |  | 667.2 |  |  | 1,149.0 |  |  | 701.9 |  |  | — |  |  | — |  |  | 2,518.1 |
Intersegment net sales |  | 203.0 |  |  | — |  |  | 175.2 |  |  | — |  |  | (378.2) |  |  | — |
Total net sales |  | 870.2 |  |  | 1,149.0 |  |  | 877.1 |  |  | — |  |  | (378.2) |  |  | 2,518.1 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 256.3 |  |  | — |  |  | 256.3 |
Total revenue |  | $ | 870.2 |  |  | $ | 1,149.0 |  |  | $ | 877.1 |  |  | $ | 256.3 |  |  | $ | (378.2) |  |  | $ | 2,774.4 |

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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=123351226&loc=SL49130545-203045 + Details
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