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Revenue Recognition - (Tables)

3 Months Ended

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

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- References

No definition available.

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