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Revenue Recognition - (Tables) | 3 Months Ended
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Apr. 02, 2022
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following table shows the consolidated revenues by revenue source:
| Three Months Ended |  |
(Amounts in millions) | April 2, 2022 |  | April 3, 2021 |  |  |  |
Revenue from contracts with customers | $ | 1,091.9 |  |  | $ | 1,018.8 |  |  |  |  |
Other revenues | 5.9 |  |  | 5.8 |  |  |  |  |
Total net sales | 1,097.8 |  |  | 1,024.6 |  |  |  |  |
Financial services revenue | 87.7 |  |  | 88.6 |  |  |  |  |
Total revenues | $ | 1,185.5 |  |  | $ | 1,113.2 |  |  |  |  |
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 April 2, 2022
|  | Commercial |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | & Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 113.7 |  |  | $ | 447.8 |  |  | $ | 242.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 804.3 |
Europe |  | 81.8 |  |  | 40.1 |  |  | 61.9 |  |  | — |  |  | — |  |  | 183.8 |
All other |  | 65.7 |  |  | 24.2 |  |  | 19.8 |  |  | — |  |  | — |  |  | 109.7 |
External net sales |  | 261.2 |  |  | 512.1 |  |  | 324.5 |  |  | — |  |  | — |  |  | 1,097.8 |
Intersegment net sales |  | 78.9 |  |  | — |  |  | 73.7 |  |  | — |  |  | (152.6) |  |  | — |
Total net sales |  | 340.1 |  |  | 512.1 |  |  | 398.2 |  |  | — |  |  | (152.6) |  |  | 1,097.8 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 87.7 |  |  | — |  |  | 87.7 |
Total revenue |  | $ | 340.1 |  |  | $ | 512.1 |  |  | $ | 398.2 |  |  | $ | 87.7 |  |  | $ | (152.6) |  |  | $ | 1,185.5 |
|  | For the Three Months Ended April 3, 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* |  | $ | 118.0 |  |  | $ | 408.1 |  |  | $ | 200.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 727.0 |
Europe |  | 84.3 |  |  | 44.2 |  |  | 60.6 |  |  | — |  |  | — |  |  | 189.1 |
All other |  | 68.8 |  |  | 26.0 |  |  | 13.7 |  |  | — |  |  | — |  |  | 108.5 |
External net sales |  | 271.1 |  |  | 478.3 |  |  | 275.2 |  |  | — |  |  | — |  |  | 1,024.6 |
Intersegment net sales |  | 74.6 |  |  | — |  |  | 72.4 |  |  | — |  |  | (147.0) |  |  | — |
Total net sales |  | 345.7 |  |  | 478.3 |  |  | 347.6 |  |  | — |  |  | (147.0) |  |  | 1,024.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 88.6 |  |  | — |  |  | 88.6 |
Total revenue |  | $ | 345.7 |  |  | $ | 478.3 |  |  | $ | 347.6 |  |  | $ | 88.6 |  |  | $ | (147.0) |  |  | $ | 1,113.2 |
* 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 April 2, 2022
|  | 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 |  | $ | 23.9 |  |  | $ | 512.1 |  |  | $ | 324.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 860.5 |
All other professionals |  | 237.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 237.3 |
External net sales |  | 261.2 |  |  | 512.1 |  |  | 324.5 |  |  | — |  |  | — |  |  | 1,097.8 |
Intersegment net sales |  | 78.9 |  |  | — |  |  | 73.7 |  |  | — |  |  | (152.6) |  |  | — |
Total net sales |  | 340.1 |  |  | 512.1 |  |  | 398.2 |  |  | — |  |  | (152.6) |  |  | 1,097.8 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 87.7 |  |  | — |  |  | 87.7 |
Total revenue |  | $ | 340.1 |  |  | $ | 512.1 |  |  | $ | 398.2 |  |  | $ | 87.7 |  |  | $ | (152.6) |  |  | $ | 1,185.5 |
|  | For the Three Months Ended April 3, 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 |  | $ | 24.1 |  |  | $ | 478.3 |  |  | $ | 275.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 777.6 |
All other professionals |  | 247.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 247.0 |
External net sales |  | 271.1 |  |  | 478.3 |  |  | 275.2 |  |  | — |  |  | — |  |  | 1,024.6 |
Intersegment net sales |  | 74.6 |  |  | — |  |  | 72.4 |  |  | — |  |  | (147.0) |  |  | — |
Total net sales |  | 345.7 |  |  | 478.3 |  |  | 347.6 |  |  | — |  |  | (147.0) |  |  | 1,024.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 88.6 |  |  | — |  |  | 88.6 |
Total revenue |  | $ | 345.7 |  |  | $ | 478.3 |  |  | $ | 347.6 |  |  | $ | 88.6 |  |  | $ | (147.0) |  |  | $ | 1,113.2 |

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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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