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Revenue Recognition - (Tables)

9 Months Ended

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

X

- 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

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- References

No definition available.

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