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Pension Plans | 6 Months Ended
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Jul. 02, 2022
Retirement Benefits [Abstract] |
Pension Plans | Pension Plans Snap-on’s net periodic pension (benefit) cost included the following components:
| Three Months Ended |  | Six Months Ended
(Amounts in millions) | July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
Service cost | $ | 6.3 |  |  | $ | 6.9 |  |  | $ | 13.4 |  |  | $ | 14.4 |
Interest cost | 11.2 |  |  | 10.5 |  |  | 22.3 |  |  | 21.1 |
Expected return on plan assets | (25.4) |  |  | (23.5) |  |  | (49.9) |  |  | (47.1) |
Amortization of unrecognized loss | 4.7 |  |  | 9.1 |  |  | 9.2 |  |  | 18.2 |
Net periodic pension (benefit) cost | $ | (3.2) |  |  | $ | 3.0 |  |  | $ | (5.0) |  |  | $ | 6.6 |
The components of net periodic pension (benefit) cost, other than the service cost component, are included in “Other income (expense) - net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 17 for additional information on other income (expense) - net. Snap-on intends to make contributions of $9.4 million to its foreign pension plans and $9.5 million to its domestic pension plans in 2022, as required by law. Depending on market and other conditions, Snap-on may make discretionary cash contributions to its pension plans in 2022.

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