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v3.22.1

Leases | 3 Months Ended
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Apr. 02, 2022
Leases [Abstract] |
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of April 2, 2022, and January 1, 2022, is as follows:
(Amounts in millions) | April 2, 2022 |  | January 1, 2022
Finance leases: |  |  |
Property and equipment - gross | $ | 21.2 |  |  | $ | 22.3 |
Accumulated depreciation and amortization | (16.9) |  |  | (17.4) |
Property and equipment - net | $ | 4.3 |  |  | $ | 4.9 |
Other accrued liabilities | $ | 2.3 |  |  | $ | 2.4 |
Other long-term liabilities | 3.7 |  |  | 4.5 |
Total finance lease liabilities | $ | 6.0 |  |  | $ | 6.9 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 50.1 |  |  | $ | 51.9 |
Other accrued liabilities | $ | 19.5 |  |  | $ | 19.6 |
Operating lease liabilities | 32.5 |  |  | 34.2 |
Total operating lease liabilities | $ | 52.0 |  |  | $ | 53.8 |
Lessor Accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics, and equipment products and to franchisees who require financing for vehicle leases. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” and also in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for further information on finance and contract receivables.
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of April 2, 2022, and January 1, 2022, is as follows:
(Amounts in millions) | April 2, 2022 |  | January 1, 2022
Finance leases: |  |  |
Property and equipment - gross | $ | 21.2 |  |  | $ | 22.3 |
Accumulated depreciation and amortization | (16.9) |  |  | (17.4) |
Property and equipment - net | $ | 4.3 |  |  | $ | 4.9 |
Other accrued liabilities | $ | 2.3 |  |  | $ | 2.4 |
Other long-term liabilities | 3.7 |  |  | 4.5 |
Total finance lease liabilities | $ | 6.0 |  |  | $ | 6.9 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 50.1 |  |  | $ | 51.9 |
Other accrued liabilities | $ | 19.5 |  |  | $ | 19.6 |
Operating lease liabilities | 32.5 |  |  | 34.2 |
Total operating lease liabilities | $ | 52.0 |  |  | $ | 53.8 |
Lessor Accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics, and equipment products and to franchisees who require financing for vehicle leases. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” and also in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for further information on finance and contract receivables.
Leases | Leases Lessee Accounting: Supplemental balance sheet information related to leases as of April 2, 2022, and January 1, 2022, is as follows:
(Amounts in millions) | April 2, 2022 |  | January 1, 2022
Finance leases: |  |  |
Property and equipment - gross | $ | 21.2 |  |  | $ | 22.3 |
Accumulated depreciation and amortization | (16.9) |  |  | (17.4) |
Property and equipment - net | $ | 4.3 |  |  | $ | 4.9 |
Other accrued liabilities | $ | 2.3 |  |  | $ | 2.4 |
Other long-term liabilities | 3.7 |  |  | 4.5 |
Total finance lease liabilities | $ | 6.0 |  |  | $ | 6.9 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 50.1 |  |  | $ | 51.9 |
Other accrued liabilities | $ | 19.5 |  |  | $ | 19.6 |
Operating lease liabilities | 32.5 |  |  | 34.2 |
Total operating lease liabilities | $ | 52.0 |  |  | $ | 53.8 |
Lessor Accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics, and equipment products and to franchisees who require financing for vehicle leases. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” and also in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for further information on finance and contract receivables.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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